The latest release of Acumatica’s award-winning financial software includes Project Accounting, Automated Inter-Company Transfers, and many more features.

Bethesda, MD, March 22, 2012 Acumatica, a provider of Cloud ERP software, today announced general availability of Acumatica 3.0, the latest release of its award winning financial software. The release contains project accounting, automated inter-company transfers, and several features requested by hundreds of customers.

“Acumatica 3.0 allows us to expand our market offerings both vertically and horizontally”, said Ezequiel Steiner, CEO at Acumatica. “The project accounting features are a perfect fit for consulting, engineering, marketing, non-profits, and other professional services companies, while the inter-company features are designed for businesses with multiple offices, warehouses, subsidiaries, and complex reporting structures.”

Acumatica’s new Project Accounting suite delivers a complete software package for managing a project lifecycle including budgeting, managing timesheets, tracking materials, billing, accounting, and reporting. The software is delivered via the Cloud to organize projects with multiple locations, many partners, and remote workers.

“Acumatica’s project accounting capabilities are well suited to our consulting business,” said Carolyn Jasiulewicz, President at Progressive System Solutions. “Employees and external contractors can enter timesheets and link line items to specific projects using any device with a browser. This saves us money by keeping consultants at the customer site instead of requiring them to email their hours and expenses for someone else to enter.”

“We receive funding from multiple sources, which we then allocate to several different programs to support our mission in the fight against Cancer,” said David Castaneda Diaz, Director of Finance at the DC Cancer Consortium. “It takes considerable effort and resources to manage, track, monitor, and report the effectiveness of each program. Using Acumatica’s Project Accounting module, we can manage all phases of many different types of programs and easily get real-time reports regarding program effectiveness.”

Acumatica 3.0 automates inter-company accounting for organizations with multiple business entities that require separate financial reporting. The software allows organizations to establish branches and subsidiaries that rely upon centralized operations including purchasing and cash management. Complexities of inventory transfers between branches, allocated expenses, and inter-company transactions are handled automatically for financial and tax reporting.

Key Features in Acumatica 3.0:

• Project Accounting: Manage billing and budgets for multiple projects involving several people, roles, billing rates, inventory, markups, and allocated costs.
• Intercompany Accounting: Create multiple branches to centralize bill payment & cash management, allocate expenses, and create automated inventory transfer transactions.
• Enhanced Dashboards: Users can select from role-based templates or create custom dashboards using an improved graphical interface with expanded chart and layout options.
• Other features: Hundreds of additional features include additional electronic bank and credit card reconciliation, activity monitoring and notifications, plus Acumatica report writer enhancements.

Acumatica delivers the benefits of Cloud software without sacrificing growth and flexibility. For companies that require integration, Acumatica delivers an advanced application programming interface (API) has been used to connect best-in-breed solutions for ecommerce, payroll, supply chain and EDI, tax calculation, point of sale, as well as customer specific applications. Acumatica also delivers robust reporting tools, integration tools, and the option to switch between an on-premise deployment and a subscription service.

How to Purchase Acumatica 3.0:
Acumatica sells 100% of its software through a vast and knowledgeable network of value added resellers and software experts. Acumatica can be purchased as a license or as a subscription service (SaaS). For a list of resellers, visit our ERP resellers page.