Introducing Acumatica 2022 R2 (Key Highlights)

Acumatica 2022 R2 is now available. The second of 2 semi-annual releases, this latest version of the cloud ERP software introduces new features that span Finance, CRM, Field Services, Inventory Management, Manufacturing, and more. Here’s a close-up look at a few highlights of the Acumatica ERP 2022 R2 release.

What’s In This Article:

• Improvements in Finance
• Inventory Management Enhancements
• Manufacturing Enhancements
• Benefits for Contractors and Project Management
• Other Notable New Features

Improvements in Financial Management

A collection of new features and enhancements help to make financial management even easier. Here’s a look at some of the improvements across general ledger, accounts payable, bank feeds and more.

GL Approval Process

Acumatica 2022 R2 now makes it possible to release and post GL transactions only after they have been approved by an authorized employee. When multiple approvals are required, they can be configured to occur in parallel or in sequential, multiple steps.Note: only transactions entered directly from the general ledger on the Journal Transactions form are subject to approval. In other words, GL approvals are not applied to transactions that have originated from accounts receivable, accounts payable, inventory, and other subledgers. The Acumatica Mobile App also supports GL Approvals.

Enhanced Dunning Letters Flexibility

Acumatica ERP improves the accounts receivable collections process by allowing you to send customers personalized dunning letters that include relevant details, attachments, and fees. New Dunning Level by Customer Class functionality enables you to create different dunning processes for business-to-business (B2B) vs business-to-consumer (B2C) customers or key customer vs regular customers, for example.

Also starting with Acumatica 2022 R2, you can now include open credit memos, open payments, prepayments, and customer refunds in addition to overdue and open invoices and debit memos in dunning letters. Dunning letter in previous versions of Acumatica ERP included only invoices and debit memos with open balances.

Lastly, there’s more flexibility in the process of reviewing, modifying, or excluding related documentation before releasing a dunning letter.

Streamlined Bank Feeds Integration

In previous versions of Acumatica ERP, you had to download a file with transactions from the bank and import the file to Acumatica ERP. If an expense receipt was to be created and linked to a bank transaction, these steps had to be performed manually.

However, starting with Acumatica 2022 R2, a new integration with Plaid and MX (financial service companies) provides a secure link between Acumatica ERP and your bank profile (including multiple accounts). This bank feed is used for the automatic import of bank transactions into the system as well as creating expense receipts based on these transactions so that the entire process is faster and less prone to error.

Inventory Management Enhancements

A number of enhancements make it even easier to manage inventory and warehouse operations. For example, you can now define cost centers in inventory which helps with inbound, storage, and outbound material handling. In addition, non-stock items can now be converted to stock items, and vice versa.

The Acumatica 2022 R2 release also introduces a new Inventory Turnover inquiry form. Using this form, you can calculate the stock item turnover, item average inventory for the selected period, and the average number of days (DSI) required to turn the average inventory into sales.

New Inventory Dashboards

Acumatica Financial Dashboards deliver invaluable insights in other areas of operations such as accounting and finance. In Acumatica ERP 2022 R2, this powerful tool has also been extended to inventory and warehouse workers with a variety of new, pre-defined dashboards that give employees a window into the current state of inventory, sales, and purchases. These new role-based dashboards include:

• Sales Manager
• Purchasing Manager
• Warehouse Manager
• Receiving Clerk
• Shipping Clerk

Manufacturing Enhancements

When it comes to manufacturers using Acumatica ERP, you now have more control over the creation and/or modification of bills of materials (BOMs) in the interactive Engineering Workbench through the introduction of both a drag-and-drop and a copy-and-paste tool.

Using the new Engineering Workbench form, a manufacturing engineer can view, create, and modify a multilevel bill of material displayed in a tree structure using the following main components of this form:

Summary area – select an existing BOM in the BOM ID box and view its general information. The engineer can also select the Hold check box to modify the BOM.

Left pane – view the BOM structure in the tree and modify the BOM by dragging the tree nodes to the needed locations.

Right pane – view the settings of the selected tree node, such as an operation or a material, and make changes if needed.

In addition, during MRP in Acumatica Manufacturing Edition, the system now creates planned transfer orders for items that can be transferred from another warehouse and uses the new transfer lead time settings to calculate the action dates for the orders. In previous versions, there was more manual decision-making and intervention required to create planned orders for possible transfer orders.

Benefits for Contractors and Project Management

Acumatica 2022 R2 introduce more flexibility for managing change orders. You can now close change requests that are linked to cost-only change orders, cancel change orders and change requests, and keep rejected change orders and change requests without these rejected documents affecting the project budget amounts.

Also, in previous versions of Acumatica Construction Edition, foremen and site supervisors did not have the ability to capture units that were installed or used during the execution of a construction project task. Plus, project managers did not have the ability to quickly track unit usage in projects. In Acumatica ERP 2022 R2, new functionality for tracking project productivity enables employees working on a construction site to capture project activities on the unit level and track project progress by using a new type of document: progress worksheets.

Lastly, using the Acumatica Mobile app, you can now view, create, and update drawing logs and submittals. This functionality in Acumatica ERP Construction Edition was previously not available on mobile.

Other Notable Enhancements

A few other notable new features or enhancements included in Acumatica 2022 R2 release include:

• Enhancements to the Acumatica Mobile App help field service technicians simplify expense with scanned image recognition.
• You can now schedule service technicians based on skills they possess and that are required to complete a task.
• Accelerate workflows with automated mobile signature capture
• Personalize your Acumatica workspace by hiding widgets, configuring screens, rearrange items, and more to “make it your own.”
• In Acumatica CRM, sales and fulfillment processes are streamlined because you can now automatically link sales orders and quotes to opportunities.
• Acumatica 2022 R2 introduces a variety of improvements to the user interface in Payroll, along with new features like a paystubs screen on the mobile app.