Acumatica 2024 R2 is now available featuring over 350 enhancements that were heavily influenced by feedback from the Acumatica community. Here’s a quick look at some key new features in the latest version of Acumatica Cloud ERP which was released on October 2, 2024.
Updates for Finance
In the area of core accounting and finance, Acumatica 2024 R2 introduces a nice range of new or enhanced features. Here’s a summary of key updates:
Direct Integration with Banks
While earlier versions of Acumatica ERP offer bank integration using Plaid or MX bank feeds, some banks don’t offer that option and instead provide customers with bank transactions in a file. Acumatica 2024 R2 now supports the direct loading of bank transactions from a file located in a Secure File Transfer Protocol (SFTP) folder.
Matching of Debit Adjustments
Unavailable in earlier releases, you can now match a receipt bank transaction to a debit adjustment on the ‘Match to Invoices’ tab of the Process Bank Transactions form.
Export Bank Transactions to Excel
On the ‘Process Bank Transactions’ form, an Export to Excel button has been added to the table toolbar. When completing a bank reconciliation, this button allows you to export selected bank transactions to an Excel file. This can be useful, for example, to export unmatched bank transactions and email them to another employee for further investigation.
Construction Edition Updates
Some of the key new construction industry features in Acumatica 2024 R2 include On-demand Pro Forma invoice creation, substantiated billing, enhanced project quote workflow, expanded project transaction tagging, and more. Here’s a closer look at some of those areas in Acumatica Construction Edition:
On-Demand Pro Forma Invoice Creation
In earlier versions of Acumatica ERP, pro forma invoices in projects were created during the project billing procedure. You were only able to create manual pro forma invoices if migration mode was activated for projects. But starting in 2024 R2, you can create pro forma invoices directly on the Pro Forma Invoices form regardless of the state of the migration mode. You can enter and adjust pro forma invoices independently of the established billing schedule and easily enter ad hoc expenses that initially were not planned in the project budget.
Improved Substantiated Billing Reports
Substantiated billing reports have been enhanced to provide additional capabilities for selecting and filtering the cost transactions to be included in the report such as line-level attachments to the prepared PDF with supporting documentation. In addition, several new report parameters have been introduced as well as an enhanced side panel display for linked cost transactions.
Enhanced Workflow for Project Quotes
The project quote workflow now includes additional workflow statuses and commands that help you track customer acceptance status of project quotes and more easily distinguish between quotes that were rejected internally from those rejected by the customer.
Key Distribution Enhancements
If you’re using Acumatica ERP to manage and distribute inventory, the following new features in the latest release should help streamline operations:
Sales Order Margin Anomaly
Leveraging advancements in artificial intelligence and machine learning, Acumatica 2024 R2 can now identify sales order margin anomalies using advanced AI algorithms to detect patterns and surface inconsistencies for your review.
2-Step Receiving Verification
Acumatica can now perform additional verification of a purchase receipt to ensure the accuracy of item quantities. A warehouse manager or receiving clerk can verify a purchase receipt confirmed by a warehouse worker and make any needed corrections to quantities before releasing the receipt which helps improve quality and reduce errors.
Consolidated Intercompany Shipments
Previous versions allowed you to create a single shipment for multiple sales orders with the same customer. However, this ability was unavailable for intercompany sales orders (sales orders for a customer extended from a branch) that were generated from purchase orders. Acumatica 2024 R2 adds the ability to consolidate intercompany sales orders into a single shipment.
Key Manufacturing Enhancements
Acumatica Manufacturing Edition delivers new features and enhancements to existing functionality that will drive efficiency across your supply chain.
Visibility of Project Inventory Tracking to Production
Workers now have more visibility of project-specific materials available for production and improved tracking of transactions associated with a project.
Production Order Linking
A new Related Production tab has been added to the ‘Production Order Maintenance’ form, allowing you to evaluate parent and child orders in a single view.
Estimate Worksheet Enhancements
Designed to improve efficiency of estimate quoting for manufacturing sales engineers, you can now create precise quotes with multiple price points for varying quantities within a single screen, eliminating the need to manage numerous estimates, create estimate revisions, or use external applications for quote creation. Additionally, it enables sales engineers to input detailed cost overrides for each quantity, adjust markup percentages and lead times, and review all price points within a single view.
Acumatica CRM Features
Here’s a quick look at key new features added to the Acumatica CRM component for sales and customer management:
Case Commitment Inquiry
New case commitment inquiry forms help you analyze the service team’s fulfillment of case commitments defined in service-level agreements (SLAs) with each customer.
Case Response and Resolution Time Inquiry Forms
New Case Response Times and Case Initial Response Times inquiry forms track and display response time statistics to help you analyze and improve customer service and satisfaction.
Similarly, a new Case Resolution Times Inquiry Form tracks the resolution time and displays whether the case resolution was provided by the due date, including fields such as “Solution Provided On.”
Other Notable Enhancements in Acumatica 2024 R2
Here’s a quick review of new features that were either added or coming soon:
New User Interface (Controlled Release)
Acumatica is unveiling a new user interface (UI) that was briefly previewed during the launch event. Acumatica 2024 R2 includes a limited-availability controlled release of the new UI, which is slated for general availability in 2025.
Improvements in User Guides
Significant improvements have been made to the content and structure of the user guides and documentation in Acumatica ERP.
Mid-Period Compensation in Payroll
Acumatica payroll now supports compensation calculation for salaried employees hired or terminated in the middle of a pay period or those whose compensation was changed in the middle of a pay period.
Acumatica Retail Commerce
Acumatica eCommerce platform in 2024 R2 streamlines Amazon returns, exchanges, and refunds. In addition, the software now supports volume pricing and quantity rules at the price-list level in the Shopify integration.
Full Details in Acumatica 2024 R2 Release Notes
This article covers key new features, but only scratches the surface of the full range of enhancements across the entire Acumatica ERP system. Refer to the release notes for full detail of all changes and enhancements or contact us with any questions.
