In a previous article, we highlighted some of what we think are the top features introduced with the release of Acumatica 2020 R1. In this article, we’ll zoom in to take a closer look at new features that were also added specifically to the Acumatica Construction Edition.
Acumatica Construction Edition 2020 R1
A variety of new project and construction management tools were added to Acumatica Construction Edition 2020 R1 that span the following:
- Enhanced project tracking and updates
- Ability to track payments and retainage at the line item level in AR
- New payroll processing option
In addition, certain functionality is now available in the core Acumatica product if Construction is enabled including joint checks, subcontracts, compliance tracking and lien waiver automation.
Enhanced Construction Project Tracking and Management
With each new release, construction project managers benefit from an ever-expanding list of new tools that improve project tracking, visibility, and management. And Acumatica 2020 R1 is no exception.
With photo logs, you can manage progress photos taken by field superintendents, or other employees, and associate those with projects and project tasks. Some of the key features of the new photo logs functionality include the ability to email photos, download to a zip file, and search/filter to easily find the images you need.
In addition, new Submittals functionality helps you gather, organize, and manage project submittals and notifications to reduce calls back to the office and keep your projects on schedule.
Plus, Change Orders have been extended to the Acumatica mobile application making it easier than ever to create, update and delete change orders from the office or in the field. You can also update summary information, cost budget, revenue budget, and commitments.
In many industries, companies need to manage revenues and expenses at the line item level in accounts receivable invoices. In previous versions of Acumatica ERP, construction retainage could only be tracked at the document level. But with the release of Acumatica 2020 R1, Acumatica Construction Edition has the ability to calculate retainage in one of the following ways:
Standard retainage: already available in previous versions of Acumatica ERP
Standard retainage with steps (New): this standard processing of retainage that also allows you to specify a list of retainage percent values for the entire project to be applied in accordance with the percentage of project completion.
If the Payment Application by Line feature is enabled, retainage can also be calculated as follows:
Project cap retainage: The retainage percent and cap are specified at the project level. The retainage amount is allocated across the billed lines until the maximum value is reached.
Project cap retainage with steps: This retainage works as project cap retainage does, but a list of retainage percent values can be specified for the entire project to be applied in accordance with the project completion percent.
Project item cap retainage: The retainage percent and cap are specified at the line level, and the retainage amount and maximum cap are calculated individually for each line.
It all leads to a more automated approach to retainage tracking by configuring projects with stepped retainage percentages, when to decrease the retainage to the next step, and/or when to stop holding retainage.
New Payroll Processing Option
A new, native Acumatica Payroll option is now available that eliminates the cost of managing integration to an external payroll system, while benefiting from the accuracy and convenience of time and payroll calculations flowing seamlessly to Acumatica ERP. Acumatica Payroll delivers pay to employees via check or direct deposit and supports:
- Both hourly and salaried employees
- Certified payroll
- Union wages
- Timecard integration
- Flexible pay periods
Visit the Acumatica Payroll Website for more detail.
Always Getting Better
Acumatica 2020 R1 has been a significant new release, introducing a huge range of new features and significant product development. Likewise, functionality in Acumatica Construction Edition was greatly expanded and we couldn’t cover all of it in just one article. So if you have questions about this newest release, be sure to click below to connect with a local Acumatica Construction Partner in your area who can help.