Epicor Financial Management

Wouldn’t you like one integrated system to manage your financial requirements? A competitive, global environment and mandatory regulatory compliance make successfully managing your finances one of the biggest challenges that modern companies face. QuickBooks and spreadsheets aren’t equipped to take on these fiscal demands.  

Epicor ERP designed its Financial Management suite to enable manufacturers and distributors to withstand these challenges. The solution equips accountants with real-time fiscal data and intuitive tools to provide full control over financial processes.  

The three pillars of Epicor’s Financial Management suite are the General Ledger, Accounts Payable and Accounts Receivable modules. Watch the video and keep reading to find out how these three modules can optimize your fiscal operations.  

1. General Ledger

The General Ledger is at the core of Epicor’s Financial Management suite. Though almost exclusively used by accountants, the GL provides nuanced fiscal control to keep everything in your organization running smoothly. Epicor’s GL consists of unparalleled flexibility and the following intuitive features to help you uphold financial integrity: 

• The Multiple Books functionality enables users to establish unlimited financial books, so you can handle a wide variety of fiscal requirements while maintaining a single view of your finances.
  

• Flexible bookkeeping tools give accountants control and visibility over multiple sites, currencies, partners and subsidiaries.

• The chart of accounts (COA) allows up to 20 user-definable segments to give accountants the ability to record, store, allocate and report at a granular level.
  

• Automate allocations across multiple accounts without manual data entry.
  

• Closely track accounts and drill down into account details.
  

• Define how often balances on accounts are captured and stored.
  

• The user-friendly posting engine supports fiscal demands for a range of businesses, from SMBs to complex global enterprises.

• Manage statements, financial reports, budgets, compliance requirements and more in one place.

2. Accounts Payable

Never miss a payment with Epicor’s Accounts Payable module. Accounts Payable ensures you always know how much you owe and when it’s due. Enter supplier invoices for purchases you make and create payments for invoices in one system. The AP module includes these tools to help you improve supplier relationships and access invoice information at your fingertips: 

• Maintain a complete history of AP transactions and supplier history.
  

• Easily record and post invoices, debit memos and payments.

• Set up AP invoices that recur on specified dates.
  

• Make purchases in any currency.
  

• Assign preferred suppliers for specific products to increase buying power with suppliers, gain preferential pricing and reduce invoices and administrative overhead.
  

• View discrepancies between the planned and actual purchase price for cost adjustment and analysis.
  

• Use Epicor Advanced Requisition Management (ARM) to automate purchase requisition processes and approvals to improve communication and cut down on delays.

• Capture text from scanned or photographed invoices and automatically find matches in your ERP with DocStar AP Automation.

3. Accounts Receivable

Though accounts receivable is a substantial business asset and useful source of working capital, most businesses poorly manage them, resulting in manual processes and credit risks. Epicor Advanced Receivable manages invoices, credit, cash management and customer management in one module. With this comprehensive set of tools, you’ll know who is paying bills on time:  

• Specify the creation of invoices through the order release process to reduce billing for a different quantity than was actually shipped.
  

• Enter multiple shipments for an order on a single invoice.

• Automatically place credit holds on particular customers and track the history of each customer’s AR balances.
  

• Leverage the credit manager workbench to drill down into credit status, order status and account management for customers.
  

• Use the flexible Tax Engine to uphold local and international reporting standards and tax jurisdictions.
  

• Securely accept credit and debit card payments.
  

• Use trackers to gain a detailed or summarized view of invoices and customers.

• With Epicor Cash Collect, you can automatically assign accounts, prioritize tasks for collectors and send reminders and other notifications to customers.

Wrap Up

Epicor is committed to helping manufacturers and distributors achieve nuanced fiscal control. With its comprehensive financial management capabilities, the ERP solution delivers the accounting agility you need to fuel business growth. 

Nobody knows Epicor better than Datix. An Epicor Gold Partner, Datix has executed Epicor projects for over 20 years. Our certified consultants are committed to working with each client from start to finish to maximize the value of their software. We’ll assist your company in navigating Epicor Financial Management capabilities.  

To learn more about how Epicor ERP can boost your bottom line, contact an expert at Datix today!  

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