Acumatica 2022 Roundup: 9 Best New Project Accounting & Construction Tools
Acumatica, the cloud ERP solution helps to keep projects on track and drive business growth. Not only is Acumatica a powerful business platform but they are committed to consistent user enhancements and improvements with each version. The two releases in 2022 did not disappoint. We’ve gathered our favorites all in one place below.
“Acumatica Construction Edition had everything we were looking for. We are different from a regular construction contractor and liked that we could add our own specialty fields and customize it to the way we do business.”
Sean Barnett, Chief Financial Officer, Spohn Associates
Acumatica 2022 R1
Support of Multiple Base Currencies in Projects – Acumatica’s powerful multiple base currencies feature is now compatible with projects. Businesses with different base currencies can be configured withing the same tenant and the system verifies that the base currency specified in the project documents corresponds to the base currency of the branch.
Enhancements in Tracking Changes to Commitments – now users can track changes to project commitments that have been created based on purchase orders for the project drop-ship orders.
Project Quote Improvements – enhancements have been made to the quoting process making it faster and easier for users to create project quotes for multiple customers related to the same opportunity. You can now change the business account, location, and contact in any project quote in draft status.
Additionally, you can link the project quotes to the same opportunity as shown here.
Progress Billing Based on Quantity – Acumatica added in some needed billing flexibility for projects. In Acumatica 2022 R1, invoices can now be prepared based on pending quantities from budget lines rather than only the billed amount.
Project-Specific Taxes – calculating taxes for project sites just became a lot easier. Many times, the tax zone of the vendor or customer differs from the project site location. Now, Acumatica can be configured to use project-specific tax zones for calculating taxes and defining the ship-to addresses for projects.
Acumatica 2022 R2
Tracking Project Progress by Unit – Acumatica 2022 R2 now includes a new form, Progress Worksheet, for employees on a site to capture project activities by units and track the installation or project progress. Additionally, if specified, users can add cost budget lines. This information satisfies needed quantity billing and carries over into recalculations of the project budgets and shows on the daily field reports.
Enhancements in Change Management – Acumatica has simplified the workflow when change requests are rejected or need to be revised and resubmitted by adding the ability to cancel a change order but keeping the full history. For example, if we did not get paid for something, we can go in and cancel the change order and any change requests tide to it will get updated and removed from that change order when we release it. We keep the history of the change request but can now revise and resubmit the change order and can always go back and look at the full audit trail of a change order.
Mobile App Improvements – much needed project features are now accessible via the mobile app giving project managers and field workers the information and flexibility they need. Now included, users can view, create, and update drawing logs and submittals on their mobile device. Additionally, in a managed release version, you can also annotate blueprints.
Integrations for Construction Financial Management Association – Acumatica 2022 R2 now includes automation for submitting information to the CFMA bench marker. Not only can you easily submit data, but Acumatica has a pre-built dashboard with the results of the annual surveys so you can compare how you are doing to your peers.
If you’re a construction or project-related business and need a full-feature ERP solution, or you’re thinking about upgrading your Acumatica ERP solution, now is the time. Talk to our experts about your options. Let’s grow your business!
