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Customizing Your ERP System: A Real-World Solution for Financial Reporting

This page will explain how businesses can overcome challenges with standard ERP systems that don’t align with their financial year.

(a) Challenges

Many small business owners find that their ERP systems don’t align with their actual financial year. Standard reports are often based on a January to December calendar year. This makes it difficult to analyze business performance because the data isn’t aligned with how the business operates. This misalignment makes comparing data difficult and obstructs a clear picture of business performance. It is like “trying to fit a square peg in a round hole”. Businesses can end up “speaking a different language” than their data. In one case, a client needed to see sales data broken down by their financial year, which ran from April 1st to March 31st, but the out-of-the-box reports from Acumatica were not sufficient. The client’s initial attempt to solve this issue with a basic formula in Acumatica fell short.

(b) Solution and Benefits

To address the challenge of misaligned financial year data, the client enlisted the help of experts at Tayana Solutions. The solution involved a customized approach using Acumatica’s generic inquiry tool. A custom formula was created within the generic inquiry to act as a filter. This formula looks at each sales order date and then assigns it to the correct financial year bucket. This method effectively recategorizes every sales order based on its date and puts it into the correct financial year.

  • The solution acted as a “custom sorting hat” for all the sales data.
  • This provided the client with a clean, organized report showing sales figures broken down by their financial year.
  • The result was a crystal-clear view of their business on their own terms.
  • The client was no longer comparing apples to oranges.

This example demonstrates the power of understanding an ERP platform and using its flexibility to build tailored solutions. It may sometimes be necessary to think outside the box and use tools in ways they were not originally intended. By implementing this solution, the client could perform financial planning and analysis more effectively. The use of a generic inquiry, along with a custom formula, provided a flexible approach to create a specific data view. This illustrates the benefit of having experts who deeply understand the software. There is hidden potential within ERP systems, and with the right approach, it is possible to unlock the power of these tools.

If you are wrestling with similar ERP challenges, reach out to the experts at Tayana Solutions for assistance.