Major Upgrade of Company’s Source-Code Available Accounting System Augmented with over 200 New Productivity Features and Improvements, Including New Import Wizards and Intercompany Transactions
Pleasanton, Calif. - September 8, 2004 - Best Software announced today the availability of version 7.3 of its award-winning ACCPAC Pro Series™ accounting system. Significantly upgraded with over 200 new features and enhancements added throughout the entire suite, ACCPAC Pro Series 7.3 represents the biggest upgrade in the product line’s history. Version 7.3 offers small and mid-size businesses (SMBs) improved information reporting, and helps increase user productivity at all levels of the client organization. ACCPAC Pro Series 7.3 also better automates routine processing functions, including bank reconciliation, intercompany transaction posting, and inventory forecasting models to further streamline and improve everyday business functions.
“Pro Series 7.3 is the realization of a very customer-focused release for ACCPAC, our partners, and most importantly, our clients. This major upgrade has been driven heavily by client feedback, and in response, the incorporation of substantial, tangible productivity enhancements across the entire suite,” said Craig Downing, ACCPAC Vice President, Product Management. “We believe this version will help current and future clients be more productive, and more easily address their individual business needs.”
Some of the significant improvements in ACCPAC Pro Series 7.3 include:
• National Accounts functionality in the Accounts Receivable module (Enterprise Edition);
• New Intercompany Transactions module (Enterprise Edition);
• Many user productivity and interface enhancements;
• New data management features, and;
• Enhanced manufacturing modules.
Both the Enterprise and Small Business Editions of ACCPAC Pro Series have been upgraded to version 7.3.
National Accounts
ACCPAC Pro Series 7.3 now includes new National Accounts functionality (available in the Accounts Receivable module of the Enterprise Edition) that provides users with the ability to easily manage their national account and/or branch account relationships with their customers. All branch activity can now be viewed in a single National Accounts screen, and users can maintain and control items such as credit limits, pricing, terms, and price codes, as well as view open invoices by branch, plus drill down to various, individual branch details. This feature makes it much easier to keep track of and manage multiple transactions that are taking place in multiple locations.
New Intercompany Transactions Module
A new module addition to ACCPAC Pro Series, Enterprise Edition, in version 7.3, Intercompany Transactions (ICT), allows customers to enter journal and payable transactions across any number of companies, distributing amounts to different accounts on either a percentage or dollar amount basis. When making distributions, the net postings are then automatically balanced to Intercompany control accounts, making this process quick and easy. The Intercompany Posting Wizard creates journal entries from ICT disbursements, plus offers the ability to use Multicurrency and Multi-VAT (value-added tax) together.
User Productivity and Interface Improvements
ACCPAC Pro Series 7.3 offers significant enhancements to the user interface, including a number of enhancements to filters, screens, and reports that are designed to recognize the unique preferences of individual users. This provides for a much more ‘personal’ and efficient experience when using Pro Series. With these new customization options, users can optimize their product experience to reflect how they want to interact with Pro Series. Drill down capabilities have also been expanded to allow users the option to search for and extract information from original source documents.
ACCPAC Pro Series 7.3 has streamlined the bank reconciliation process, too, with the ability to now import a banking Open Financial Exchange (OFX) file, and a newly designed screen for facilitating easier bank reconciliations.
New Data Management Features
The new Data Center in version 7.3 showcases the unique power of the ACCPAC Pro Series Data Dictionary by displaying fields, tables and relations in a tree view menu. Privilege-controlled access to this feature allows users to expand selected fields and have those changes cascade throughout the program, with the changes reflected on screens, option grids and reports. New Import Wizards add the ability to import data files in a variety of selected formats, and customize the data import process based on unique business rule validations set up by the user.
In addition, users can mark customers, vendors, items and item suppliers as either active or inactive, improving users’ management of their data. New drill down options from General Ledger account entries to source documents allow users to see the source documents and totals for any account, giving a more complete view of a customer’s transaction history.
Enhanced Manufacturing Modules
In the Manufacturing modules of ACCPAC Pro Series 7.3, the Bill of Materials (BOM) maintenance screens have been expanded to include a tree view menu, giving visual clarity to the multi-level component structure of the Bills of Materials. Additionally, increased flexibility in the Manufacturing modules, such as the ability to select Unit of Measure (UOM) for BOM components, has been incorporated in version 7.3.
Users now have the option to specify quantities in different UOMs for component level items used in a BOM. Previous versions only allowed users to specify quantities in the stock unit of measure. These changes add a component UOM that many manufacturing operations need. Manufacturing reports will show quantities and UOMs as selected by the user.
Additional New Features
The Inventory Item forecasting wizard has been expanded in ACCPAC Pro Series 7.3 to now include forecasting by item groups. Customers can now select inventory by category and forecast the order points for all of the items in a category at the same time using any of the forecasting methods specified within the wizard. Additionally, supplier lead-time, economic order quantity, safety stock levels and the cost for holding the items on shelf are considered during the wizard set up. Multicurrency functionality has been enhanced to support companies with multiple, international locations, offering them the ability to use different currencies for AR Receipts and AP Payments, Multicurrency Revaluation, in addition to General Ledger and Job Costing functions.
“ACCPAC Pro Series 7.3 is a very substantial and welcome release – we definitely see how all of the comprehensive upgrades made to the product can help our clients, said Ron Ketterling, President of Business Automation Specialists, a Best Software/ACCPAC Pro Series Solution Provider and Premier Partner located in Minnesota. “I am very impressed with all of the work that ACCPAC put into this release. The forecasting tools, the import functions, extendable fields and many other functional upgrades make this an excellent value for any client.”
End-to-End Integration
ACCPAC Pro Series 7.3 is a foundation for a broad selection of other integrated, end-to-end business management applications from ACCPAC including: ACCPAC CRM™, ACCPAC HR Series™, ACCPAC eTransact® (e-commerce), ACCPAC Comprehensive Financial Optimizer™ (business analysis), ACCPAC Exchange™ (Internet-based EDI transaction processing), ACCPAC Insight™ (enterprise reporting, budgeting, consolidations), ACCPAC FAXserve® and ACCPAC Warehouse Management System™, giving ACCPAC Pro Series users a wide range of cross-application compatibility.
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