Acumatica 2024 R1: What’s New?

Acumatica 2024 R1 is now available. Let’s take a quick look at some key new features that span financials and payroll, CRM, manufacturing, distribution, and more in the latest version of Acumatica Cloud ERP which was released on March 20, 2024.

New or Enhanced Acumatica Financial Features

Here’s a quick recap of some key new or enhanced finance and accounting features rolled out in Acumatica 2024 R1:

Map Multiple Accounts in Bank Feeds

In previous releases of Acumatica ERP, you could map a bank account to one cash account and receive all the cash account’s transactions via a bank feed.  However, in Acumatica ERP 2024 R1, you can now map multiple bank accounts to one cash account, as well as load bank transactions for one cash account from different bank accounts and financial periods, manually change the start date for importing transactions to Acumatica, and load transactions from multiple bank feeds for one cash account.

Support for Point-of-Sale (POS) Payments

This latest release of Acumatica ERP now provides support for point-of-sale (POS) payments whereas in the past, merchants could not accept these payments through Acumatica ERP. Instead, third-party POS software was required, and you then had to manually create invoices and payments for them in Acumatica ERP.

Simplify Returns on Cash Purchases

The process of issuing a full or partial refund on a cash purchase – that is to say, payment in full made at the time of transaction where no liability is created – has been simplified. In previous releases, you were required to void the cash purchase document to issue a refund. But now, you simply choose the ‘Return’ command which reverses the original cash purchase transaction details and issues a ‘Cash Return’ document.

Acumatica 2024 R1 CRM Enhancements

New advanced features for case commitment tracking and closure workflow helps your support team deliver even better customer service.  That’s because Acumatica 2024 R1 introduces the ability to manage case commitments and monitor fulfillment within target time periods. That helps guide customer service representatives in providing responses and case resolution within commitment time periods established within service-level agreements (SLAs).

In addition, a new ‘Closure Notes’ tab has been added to the ‘Cases’ screen that enables service reps to enter additional freeform text during case closure, or at any phase during case processing.

When it comes to customer communications, you can now tailor your email templates by branch, project, service management, and more to further refine your messaging.

Inventory and Order Management Updates

Acumatica ERP has introduced Distribution Requirements Planning (DRP) that intelligently optimizes inventory levels to meet customer demand while avoiding stock outs. This new functionality takes advantage of time-phased inventory planning and sales forecasting for handling orders within a supply chain.

With time-phased planning, companies can precisely plan their supply to arrive at the required time, thereby minimizing the inventory stored in warehouses for orders placed well ahead of the needed date. Distributors can match supply to demand based on date-specific recommendations for unmet demands.

In short, DRP keeps the right products in the right place at the right time. It uses forecasts and real customer demand to optimize inventory plans for kit assemblies, kit component requirements, purchase orders, and warehouse transfers.

Note: integration between Acumatica and Pacejet Carrier Service is now part of the core product and no longer requires a customization project which helps streamline small parcel and LTL shipment processing workflows.

Acumatica 2024 R1 MRP Enhancements

For manufacturers, a collection of MRP-related enhancements have been introduced in Acumatica ERP 2024 R1 including:

  • Ability to exclude inactive warehouses from inventory planning
  • Ability to include or exclude orders by ‘order type’ in inventory planning
  • Ability to include kit components in inventory planning
  • You can now can specify the planning horizon value which, during the regeneration of inventory planning, will process only item plans with a supply or demand date that is earlier than or the same as the regeneration date plus the number of days specified in the Planning Horizon box.

Integration with Amazon for Retailers

Acumatica 2024 R1 now supports the synchronization of data between Acumatica ERP and Amazon. The new Amazon Connector synchronizes orders fulfilled by either Amazon or the merchant. Other data synchronized between the two systems can include product availability, Amazon fees, payments, and taxes.

Refer to the fully-detailed release notes or contact us if you need help connecting your system to an existing Amazon Seller Account as well as activating and setting up the supported entities.

Questions?

This article covers key new features, but only scratches the surface of the full range of enhancements across the entire Acumatica ERP system. Take a look at the Acumatica 2024 R1 release notes for full details of all changes and enhancements or contact us with any questions.

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