What’s New in Sage Accpac ERP 5.5 A Financial Suite

System Manager Database Changes Enhanced Performance Reduced Memory Usage Functions such as printing Crystal reports faster Accpac.NET Libraries have been upgraded to version 2005, which requires .NET 2.0. You should have .NET Framework 2.0 installed prior to installing Accpac 5.5. In Accpac 5.5, Sage has enhanced the database performance specifically with Microsoft SQL, IBM DB2 and Oracle. Redundancies are removed, the System Database is added to Company Database for faster access and memory usage has been reduced to name a few. These enhancements will definitely increase the speed and overall performance. Thus when you create system and company databases, the system database tables will now be copied to your company database, making certain functions such as printing Crystal reports run faster.

System Manager Improved Revaluation for Multicurrency Ledgers New revaluation methods to meet the International Foreign Exchange Reporting Standards for GAAP for exchange gain and losses New Recognized Gain/Loss accounting method - revaluation transactions are considered permanent Old Realized and Unrealized Gain/Loss accounting method, revaluation transactions are considered temporary or unrealized Version 5.5 provides new revaluation methods to meet the International Foreign Exchange Reporting Standards for GAAP for exchange gain and losses. This change impacts General Ledger, Accounts Payable, and Accounts Receivable, and some System Manager features. With this version, exchange gains and losses are treated as permanent or temporary, depending on the exchange Gain/Loss Accounting Method specified for your Sage Accpac system in the company profile. If you use the new Recognized Gain/Loss accounting method, revaluation transactions are considered permanent. In this method, exchange gains and losses are recognized immediately when you post them and are not reversed in the next period. If you use the old Realized and Unrealized Gain/Loss accounting method, revaluation transactions are considered temporary or unrealized gains and losses. Therefore, they are posted to General Ledger as reversing transactions.

System Manager

Sage Accpac Dashboard Sage has introduced new dashboards to give you visual indicators on the performance of your business. Using the new X-Celsius engine dashboards can be displayed through your web browser for all areas of Accpac. Sage will initially introduce out-of-the-box dashboards for sales, receivables and payables with more to follow. And, we can always create any dashboards you need. Of course, with this added data access point there are also new permission settings to allow or disallow access to individual dashboards.

Sage Accpac Dashboard

Sage Accpac Dashboard

Bank Services Reconciliation Posting Date Reconcile Statements Reconcile OFX 2.0 Statements Bank Transfers forms. Bank Clear History Form Support for reversing miscellaneous payments/receipts Payment Register report Tax Input and Reconciliation Posting Journal report A new Reconciliation Posting Date field has been added to Reconcile Statements, Reconcile OFX 2.0 Statements, and Bank Transfers forms. This new field allows you to specify an accurate date when a document/transaction was posted to General Ledger. It is the “Posted On” date displayed on printed reports. With the new Bank Clear History form you can remove posted bank transactions, printed reconciliation posting journals and printed transfer posting journals. When you reverse a miscellaneous payment to an Accounts Payable vendor in Bank Services, or a miscellaneous receipt for an Accounts Receivable customer you can now choose to reverse the associated invoice automatically, too. A new Payment Register report lists all withdrawals made from a particular bank for a specified period and from a specified source application. You can specify criteria such as payment types and reconciliation statuses, sorted by Payment Number, Payment Date, or Vendor/Payee Code and print payment details or a payment summary as well as show missing check numbers. A New security option has been added that allows users who have no rights to perform tasks within Bank Services to print the Payment Register report. Through the new Reconciliation Posting Journal report, you can now include tax information for taxes included with bank entries added on the Entries tab of the Reconcile Statements form.

Multi-user entry and posting Better separation of duties by separating Journal Posting and Journal Entry rights (GL AR AP) Changes to Multi-user entry and posting (GL AR AP) Concurrent batch posting Multiple users can add entries to the same batch. In version 5.5, you can post batches at the same time as other users are, but you cannot post batches that others are using. Batches are not allowed to be posted if it is being edited by someone or if data is being poured into it (import, generation). Version 5.5 also allows multiple users to enter entries to the same batch. When a user is assigned Journal Posting rights only, the system will not automatically assign Journal Entry rights to them. Journal posting rights gives access to post batches and inquiries associated with posted transactions.

General Ledger GL Financial Report writer there are 10 new sample FR report specs, such as the Performance Analysis report, and the Income Statement / Balance Sheet Forecast reports. The “Create Recurring Entries Batch” option has been enhanced to allow recurring entries to be added to a new batch or append to an existing batch. Both AP and AR modules support this enhancement as well. G/L Security is no longer a separately licensed product. With version 5.5, it is installed with General Ledger.

Accounts Payable Default Posting Dates for Payment Entry and Invoice Entry Separate Posting Dates and Document Dates for Transactions Default Posting Dates for Payment Entry and Invoice Entry The A/P Options form lets you specify the type of date to use as the default posting date on the Payment Entry form and the Invoice Entry form. You can select Document Date, Batch Date or Session Date as the default posting date. Similar option has been added in the A/R module. Separate Posting Dates and Document Dates for Transactions In addition to the document date, transaction entry forms now provide a separate Posting Date field that lets you specify the date to post a transaction to General Ledger. This is particularly useful if you need to post a document to a different year or period from the document date.

Accounts Payable Ability to enter advanced credits Available in the 200 and 500 editions A new option, Default Detail Tax Class to 1, lets you set 1 as the default tax class for new invoice details. If you do not select this option, Accounts Payable uses the vendor tax class as the default for new invoice details. A similar option, “Default Detail Tax Class To 1” has been added to the A/R Options form for details on new summary invoices. A/P now lets you issue claims for goods that you have returned to your vendor, but the vendor has not yet received. An “advance credit” reduces the associated invoice balance. When you receive credit from the vendor, you process a “real” credit note against the advance credit

A/P A/R Recurring - Invoice Accounts Payable - Recurring Payables Job Related Manual Invoice Creation Accounts Receivable - Recurring Charges Track posted and unposted invoices >Enhancements to Recurring Payables (A/P) and Recurring Charges (A/R) You can now set up job related recurring payables. When you select the job related option, the Detail tab provides additional fields to enter the contract, project, category and resource. You can similarly set up job‐related recurring charges in A/R. >Create an invoice manually (AP, AR) A new Create Invoice button lets you produce an invoice manually for a recurring payable right from the Recurring Payables setup form and for a recurring charge right from the Recurring Charge setup form. >Track posted and unposted invoices Version 5.5 Accounts Payable tracks both posted and unposted invoices for recurring payables. The Statistics tab includes Posted Total Invoiced and Number of Invoices and Unposted Total Invoiced and Number of Invoices fields. The same options have been added to A/R.

A/R & A/P Enhancements Both Invoice Entry and Payment Entry let you specify an Account Set that is different from the vendor’s Account Set. However, if you use multi-currency this option will only allow you to select an Account Set that has the same currency as the Vendor. AP and AR reports have been updated to allow you to print Subtotals for each Sorting Group specified on the reports form. When you select a sort criteria on the report form the “Show Group Subtotal” option is enabled for your selection.