Acumatica Review: Accounting Software Review

Focal Point:

A blend of online accounting and ERP features, combining to deliver a complete financial management suite for business of all size. Take advantage of general ledger, cash management, accounts payable and more.

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Company Overview:

Acumatica is a cloud-exclusive software developer, famed for its suite of ERP solutions. Founded in 2009 in Washington DC, the company has expanded rapidly in the past 5 years and now serves customers in 30 countries from 6 offices on 3 continents. Its ‘Financial Management Suite’ is designed for larger enterprise with complex requirements and can work in tandem with other Acumatica software. When combined, you’re presented with a complete business management platform.

FEATUREDESCRIPTION
Packaging of ServicesFull online accounting suite, tempered with additional ERP-features and highly customizable interface.
OrganizationBilled as ‘financial management’ rather than ‘accounting’ – everything is about organization including the innovative ‘Journal Voucher.’
MobilityAll features available from all devices with an internet connection – fully cloud-based.
Ease of Use10 integrated modules which manage all streams of accounting. You can also work in Excel and synchronize it with the Acumatica workflow.

How It Saves You Time:

One of the main objectives of Acumatica is to “accelerate decision-making” by offering drill-down reports and intuitive dashboards to help avoid lengthy board meetings and workshops. The software also saves you a huge amount of time in data entry through the General Ledger, allowing multiple document submission to the various accounting modules.

How It Saves You Money:

The ‘Employee Portal’ module reduces the workload and costs of HR departments and management – by automating timesheet submission and expense claims. This module communicates closely with Accounts Payable and project management tools – making many third-parties dispensable.

How It Saves You Hassle:

The ‘Accounts Receivable’ module allows businesses to take a step away from the daily running of inventory and payment management. It allows a business to automate invoices and chasing, along with automatic tax computation, discounts and payment schedules.

How To Get Started:

To purchase an ERP from Acumatica, you need to get in touch with the company directly to negotiate a plan. Even if you know that you only want the Financial Management suite, there’s a deal of customization involved and Acumatica insists on a consultation session. To get in touch with the sales team, hover over Company and select Contact. Here, you can enter your details for an Acumatica employee to contact you on.

Price Chart:

DESCRIPTIONAMOUNT
Acumatica Financial ManagementVaries


In contrast to standard online accounting tools, ERPs take longer to set up and require a more involved setup process. Plans are discussed, negotiated and agreed on a per-customer basis; making the pricing structure a little difficult to report on. The costs are certainly in the premium range when compared to other accounting tools, but there’s a host of unlimited features included the ability to use a single plan with endless users (whether other managers, employees or even accountants.) From customer testimonials, Acumatica is a little more expensive than the industry average but is more than justified when you look at the arsenal of tools on offer.

 

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