5 Can’t Miss Acumatica 2024 R1 New Features

Acumatica 2024 R1, released in March, introduces a variety of new features designed to enhance functionality, streamline workflows, and boost productivity. This latest update isn't just about adding new tools—it's about making your daily tasks easier, reducing manual effort, and improving overall efficiency. Whether you're looking to speed up transactions, ensure compliance, or manage financials more effectively, Acumatica 2024 R1 has something to offer. In this post, we dive into some of the standout enhancements and explain why you'll love them. Let's explore Acumatica 2024 R1 new features and see how they can benefit your business.

 

Acumatica 2024 R1 New Feature #1: Payments for Point-of-Sale (POS)

What's New:

Seamlessly process payments within Acumatica using credit card readers.

 

How it can help you:

  • Faster Transactions: Integrating payment processing directly into Acumatica allows users to complete sales transactions more swiftly. There's no need to juggle different software tools or manually input payment details.
  • Reduced Errors: Eliminating manual data entry minimizes the risk that someone might miss key critical information, ensuring accurate payment recording.
  • Streamlined Workflow: Users remain within the Acumatica environment, enhancing overall workflow efficiency.

 

Acumatica 2024 R1 New Feature #2: Automated Vacation and Sick Time Tracking

 

What's New:

Banding rules, anniversary date resets, and simplified adjustments for time-off management.

 

How it can help you:

  • Accurate Balances: Banding rules and anniversary date resets ensure accurate accruals of vacation and sick time, making it easy for employees to view their balances.
  • Efficient Adjustments: Simplified adjustments streamline managing time-off requests and adjustments during probation periods.
  • Compliance: Automated tracking assists organizations in complying with labor laws and internal policies.

 

Acumatica 2024 R1 New Feature #3: Enhanced Financial Transaction Approvals

 

What's New:

Enforce approval and rejection reasons for financial transactions.

 

How it can help you:

  • Approval Workflows: Set up approval workflows for invoices, bills, adjustments, and more to ensure timely approvals and reduce bottlenecks.
  • Reason Tracking: Enforcing approval and rejection reasons provides transparency and helps auditors understand decision-making processes.
  • Cash Return Streamlining: Simplified cash return transactions enhance accuracy when handling returns.

 

 

Acumatica 2024 R1 New Feature #4: Exemption Certificate Management

 

What's New:

Collect and manage customer exemption certificates.

 

How it can help you:

  • Sales Tax Compliance: Efficiently managing customer exemption certificates ensures compliance with sales tax nexus laws.
  • Risk Reduction: Properly handled exemption certificates reduce the risk of incorrect tax calculations and potential penalties.
  • Sector-Specific Benefits: Particularly valuable for healthcare providers, government organizations, non-profits, and qualifying manufacturing sales.

 

Acumatica 2024 R1 New Feature #5: Improved Credit Memos

 

What's New:

Inclusive credit term due dates and discount amounts.

 

How it can help you:

  • Inclusive Due Dates: Aligning credit memos with invoice due dates simplifies the understanding of payment terms for customers.
  • Discount Accuracy: More accurately reflected discount amounts ensure precise adjustments.
  • Cash Flow Forecasting: Enhanced credit memo handling contributes to more accurate cash flow forecasting.

 

Discover More About Acumatica 2024 R1

These are just a few highlights of the new features in Acumatica 2024 R1. Explore the full release notes to learn more about the powerful updates and improvements. Should you have questions, or need help, please reach out. Our team of experts are ready to help you make the most of Acumatica!

 

About Intelligent Technologies

At Intelligent Technologies, we're more than just a technology vendor; we're your partner in innovation. Our dedicated team of consultants, with over 30 years of hands-on experience in the ERP industry and more than a decade working with Acumatica, is committed to solving your technological challenges.

Since 1991, we've grown from the sole supplier of Microsoft Dynamics GP in North Carolina to a full-service technology company, always pushing beyond the status quo. Whether you need custom reporting, software tailoring, or system integration, we proactively recommend solutions to maximize your technology investment. Choose Intelligent Technologies, where your business needs are understood, respected, and met with smart, efficient solutions.

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