Financial Management offers a refreshing new approach to business. A suite of accounting applications built for insight, automation, and compliance in an increasingly global business world, it is built around a series of “global engines” that support effective financial management and control anywhere.
This module is built around a series of unique global engines, which in turn support the global nature of business today, enabling effective operations in existing and new markets—as necessary. Complete functionality includes a Rules-based posting engine, configurable tax engine, legal numbering engine, multicurrency engine, rounding engine.
General Ledger is the heart of financial management processing and posting all accounting transactions created throughout Epicor applications, as well as entries made directly within the ledger. The information and controls which flow from the General Ledger system enable an organization to operate efficiently, comply with fiscal regulations, underpin strong corporate governance, and drive enterprise performance.
With its "multiple books" capability, your organization will be able to the establishment of unlimited financial books to support a wide variety of financial requirements, such as budgeting and forecasting, statutory and government accounting versus management accounting. Create different chart of accounts by book, post transactions to different accounts within different books simultaneously using the posting engine.
Improve cash management through the automatic handling and reporting of discounts available, payment due dates, and payment selection methods. This module also allows you to specify the number and type
of bank for each of your accounts— including currency— and reconcile your bank statement with entries generated in AR, AP, and payroll.
Accounts Receivable (AR) provides a comprehensive set of tools to manage your invoicing, credit, cash management, and customer management needs. With Accounts Receivable, you know who is buying what and who is paying their bills on time. This section of the financial module will allow you to enter invoices into the system and create debit notes, interests invoices, and use multiple payment instruments.
Accounts Payable (AP) allows you to enter supplier invoices for purchases that you make, and then create payments for the invoices you want to pay. The system can generate payments for all invoices due, those for a particular supplier, or only for specific invoices. AP allows you to update both purchase orders in Purchase Management as well as actual job costs. Adjustments are created if the purchase price does not
match the invoiced price. With AP, you will know how much you owe and when it is due.
Epicor ECM captures and automatically processes your AP invoices from multiple inbound sources, including existing document scanners or multifunction copiers. Invoices are automatically routed for two-way and
three-way matching workflows and approvals.
Advanced Requisition Management (ARM)
Stay on budget and manage your spend limits with automated processes and flexible multi-dimensional approval workflows – utilizing Advanced Requisition Management (ARM) for Kinetic. ARM was built to extend the requisition and purchasing functions within Kinetic. It has tight real-time integration hooks with your Kinetic system, giving your staff a seamless experience when it comes to the Kinetic data that ARM uses and the transactions it creates.
Credit Card Processing
The Kinetic Credit Card Processing module gives access to several components that cover credit card processing needs–available directly with Kinetic. The Epicor Payment Application (EPA) is a payment application. It provides a service that receives the transaction information from Kinetic ERP and then sends the request to the Epicor Payment Gateway. The Epicor Payment Gateway service connects Kinetic to the credit card processing network in the cloud and transmits the requests of a credit card payment transaction to the gateway.
Epicor Payment Exchange (EPX) connects to full merchant services and credit processing businesses to perform credit card authorization, settlement, and reporting, as well as credit, debit, and PIN debit operations.
The optional Rebates module provides you with a way to enter, update, and review any rebate program that your company runs with your customers. Use this module to define the active rebate programs for your
company, generate rebate transactions, and pay rebate amounts to your customers through either an invoice check or a credit memo.
Asset Management helps you record, track, and depreciate your fixed assets for optimal utilization. Asset Management also automates the tracking and management of the asset throughout its useful life— from acquisition to disposition.