Updates to Accounting and Financials

Vendor Payment Hold

To indicate whether a vendor is on payment hold, a green check or a red exclamation point is now displayed on these forms: Purchase Orders, Purchase Order Lines, Purchase Order Blanket Lines, Purchase Order Blanket Releases, Purchase Orders Quick Entry, and Purchase Order Requisition Lines.

Use of Bank Authority Party ID

The DebitTransfer BOD, which is used in the Infor Local.ly integration, can now populate the Bank Authority Party ID for customers, vendors, and your company. This ID is required for electronic banking in some countries.

Use the Bank Authority Party ID field in the Bank Reconciliations form to specify this ID for customers and vendors. You can then view the Bank Authority Party ID field in the Banking Tab of the Customers, Multi-Site Customers, Vendors or Multi-Site Vendors forms.

The SEPA Creditor Identifier field was removed from the A/R Parameters form, and the Bank Authority Party ID field was added on the General Parameters form. Specify the ID for your company in this field.

Electronic File Transfer Bank Statements

We have enhanced the EFT Bank Statement Import process so that EFT Import is suitable for all EFT formats and not specific to a Bank Statement. Also, the addition of the Bank Reconciliation Utility form shows all the bank records that can be reconciled with the EFT file bank statement and the bank reconciliation records. The A/R Payment Import Archive Path field has been removed from the Accounts Receivable Parameters form. These forms have been removed: A/R Payment Import Mappings, A/R Payment Import Field Mappings, A/R Customer Bank Account, and A/R Payment Import. The A/R Payment Import Conversions form was renamed to Electronic File Transfer Conversions. The A/R Payment Import form was renamed to Electronic File Transfer Imports. We added these new forms: Electronic File Transfer Map Types, Electronic File Transfer Mappings, Electronic File Transfer Code Lists, Electronic File Transfer Map Format Types, Electronic File Transfers Mapped Imports, Bank Reconciliation Utility.

Fixed Assets

Fixed Asset functionality from the Thai Country Pack has been brought into the base product. The Parent Asset Number field has been added to the Fixed Assets form so that a parent/child asset relationship is possible. The Useful Life field on the Fixed Assets form has been changed to allow for year and month rather than just year. We removed the Display Report Header field from the Fixed Asset Current Depreciation Report form. We added the History Fixed Asset Depreciation Report and History Fixed Asset Transfer Report forms.

A/R Payments/Credit Memo Currency

The accounts receivable payments process has been enhanced for consistency when determining currency gains and losses required with foreign currency transactions. No changes to the user interface were made.

Bulk Import of Journal Entries

The Import Journal Entries Bulk form is a new form that allows you to import many entries at one time in a timely manner. We recommend using this form if you have over 100 entries to import.

Multiple Currencies for Customers and Vendors

In addition to the multi-currency features already provided in CloudSuite Industrial, you can now also define multiple currencies for individual customers and vendors, to allow for more complex transaction currency exchange requirements, and so that orders can be specified in a currency other than the customer default currency.

Use these new forms to set up multiple currencies for customers and vendors:
  • Customer Currency Codes
  • Vendor Currency Codes
Also, a Currency Codes tab has been added to the Customers and Vendors forms, where you can set up and maintain the currency codes for a selected customer or vendor.

The A/R Payments form has been modified to support multiple customer currencies on an invoice as well as changes to enhance the multi-currency payment enhancements. The tie between payment currency and bank code has been removed so that a payment currency can be entered that is not tied to the bank code. A bank amount and exchange rate has been added to capture the conversion of the payment amount to the bank amount. The payment amount has been converted to the bank amount, and the bank amount converted to the domestic amount. The customer account currency is no longer considered during the payment.

These forms are affected by this new functionality:

Accounts Receivable
  • A/R Adjustment Posting
  • A/R Balance History
  • A/R Payment Distributions
  • A/R Payment Import
  • A/R Payment Posting
  • A/R Payment Transaction Report
  • A/R Payments
  • A/R Posted Transaction Detail
  • A/R Posted Transaction Summary
  • A/R Quick Payment Application
  • A/R Wire Posting
  • Accounts Receivable Aging Report
  • AR/AP Payment Offset
  • Cash Receipts Due Report
  • Consolidated Invoice Generation
  • Consolidated Invoices Workbench
  • Consolidated Invoicing
  • Controller Home
  • Currency Codes
  • Customer 360
  • Customer Euro Currency Conversion
  • Customer Order Blanket Lines
  • Customer Order Blanket Releases
  • Customer Order Document Lifecycle
  • Customer Order Lines
  • Customer Order Master Contract Lines
  • Customer Orders
  • Customer Orders Quick Entry
  • Customer Service Home
  • Customer Statements Report
  • Customers
  • Delivery Order Line Sequences
  • Delivery Order Lines
  • Delivery Orders
  • Estimate Invoice Milestones
  • Estimate Lines  
  • Estimate Projects
  • Estimate Revenue Milestone
  • Estimates
  • Executive Home
  • History Customer Order Blanket Lines
  • History Customer Order Blanket Releases
  • History Customer Order Lines
  • History Customer Orders
  • History Estimate Lines
  • History Estimates
  • Invoice Milestone Nomination
  • Invoice Milestones
  • Invoice Posting
  • Invoices, Debit and Credit Memos
  • Item 360             
  • Multi-Currency Parameters
  • Order Invoicing/Credit Memo
  • Order Shipping
  • Pack Workbench
  • Pick Workbench
  • Price Adjustment Invoice
  • Progressive Billing Generation
  • Progressive Billings
  • Projects              
  • Rebalance Customer Balances
  • Rebalance Customer Pay History
  • Residual A/R Balance Eliminations
  • Returned Checks
  • Revenue Milestone
  • Revenue Milestone Nomination
  • RMA Line Items
  • RMAs   
  • Salesperson Home
  • Shipment Merging
Accounts Payable
  • A/P Aging Buckets
  • A/P Balance Report
  • A/P Balances
  • A/P Check Printing/Posting
  • A/P Draft Printing/Posting
  • A/P EFT Posting
  • A/P Payment Distributions
  • A/P Payment Generation
  • A/P Payment Transaction Report
  • A/P Payments
  • A/P Posted Transactions Detail
  • A/P Posted Transactions Summary
  • A/P Quick Payment Application
  • A/P Recurring Voucher Generation
  • A/P Voucher Posting
  • A/P Vouchers and Adjustments
  • A/P Wire Posting
  • Accounts Payable Aging Report
  • Activate/Deactivate Posted Transactions
  • Auto Industry Pack, Purchase Order Master Contract Lines and Purchase Order Master Contract Line Prices
  • Builder Purchase Order
  • Buyer Home
  • Cash Requirements Report
  • Change Order Detail Report
  • Change Order Report
  • Change PO Status Utility
  • China Localization, AP Account Book
  • Convert PO Requisition
  • Copy Purchase Orders
  • Currency Revaluation Report
  • Executive Home
  • External Tax Delivery Documentation
  • Fiscal Reporting System Form Printing Report
  • Generate A/P Transactions
  • Generate Goods Receiving Note Lines
  • Generate Landed Cost Vouchers
  • Goods Receiving Notes Lines
  • GST Input Tax Credit Report
  • History Purchase Order Blanket Lines
  • History Purchase Order Blanket Releases
  • History Purchase Order Lines
  • History Purchase Orders
  • Item Price Requests
  • Landed Cost Variance Report
  • Letters of Credit By Vendor Report
  • Manual Voucher Builder
  • Mexican Localization, IETU Report, VAT AR/AP Transferred Report, VAT A/P Transfer Utility, and Purchasing Workbench
  • PO Funds Committed Report
  • PO Voucher Register by Account Report
  • Posted Transaction – A/P
  • PST Input Tax Credit Report
  • Purchase Order Blanket Lines
  • Purchase Order Blanket Releases
  • Purchase Order Builder
  • Purchase Order Document Lifecycle
  • Purchase Order History by Vendor Report
  • Purchase Order Lines
  • Purchase Order Receipts
  • Purchase Order Receiving
  • Purchase Order Report
  • Purchase Order Reset Accumulative Totals Utility
  • Purchase Order Status Report
  • Purchase Order Variance By Item Report
  • Purchase Orders
  • Purchase Orders Quick Entry
  • Rebalance Vendor Letters of Credit
  • Rebalance Vendor Pay History
  • Recent Purchases Report
  • Recurring Voucher Distribution
  • Recurring Vouchers
  • Requisition PO Comparison Report
  • Statement of Account Report
  • Tax Vouchered (Parametric) Report
  • Vendor 360
  • Vendor Euro Currency Conversion
  • Vendor Voucher/Debit Memo Report
  • Vendors
  • Void A/P Posted Payments
  • Void Posted Draft Payments
  • Voucher Adjustment Distribution
  • Voucher Authorization
  • Voucher Authorization Report
  • Voucher Builder
  • Voucher Pre-register
  • Voucher Pre-register Distributions
  • Voucher Pre-register Report
  • Voucher Register by Account Report
  • Voucher Register Report
  • Voucher Transaction Report
  • Vouchers Payable Report

Control Over Exchange Rate Overrides

You can now choose whether to allow currency exchange rate overrides, and you can specify the amount by which the rate can be changed. Overrides and thresholds can be set at the system level on the Multi-Currency Parameters form and then changed as needed for individual currencies on the Currency Codes form.

Note: When exchange rates are set by the system, for example, using the A/R Payment Distributions form, these overrides and thresholds are not considered. Also, if exchange rates are already enabled on payment forms, they will continue to be enabled and will not use the new override settings.

IRS Tax Filing

Several new forms and tabs have been added which provide the capability to print, or electronically generate, the IRS 1094C and 1095C tax forms. These new forms include:

  • Offer of Coverage Code
  • Safe Harbor Code
  • 1095 Form Printing Report
  • Insurance, Health tab
  • Employee Insurance, ACA tab
  • Employee Insurance, Self Insurance tab

Furthermore, when filing electronic W-2s, you are no longer required to specify the Submitter Location Address fields on the W-2 Electronic Filing form.

Revenue Recognition

To ensure compliance with GAAP standards, you may now specify various project milestones, including automatically recurring milestones, which capture performance obligation data based on different criteria. Additionally, you may now send notifications to users when projects, and project tasks, are completed. These forms have been added:
  • The Project Obligation Cost Codes form is used to create and manage the cost codes used to track project performance obligations.
  • The Project Milestone Events form is used to manage milestone alerts for project completion events, project task completion events, and performance obligation events.

Updates to Making Tax Digital (MTD)

We now allow companies with multiple sites that use the same VAT registration number to consolidate the VAT return information from those sites, as part of the United Kingdom’s “Making Tax Digital” (MTD) requirement.

We also added a utility to reset VAT stamps if corrections to calculations are required before submission of the VAT data.

These changes to forms were made for this requirement:

  • On the Tax Parameters form, MTD tab, the new Return Submission Site field determines which site (if any) is used to consolidate returns for the current site. All sites that share a single VAT registration number (Tax/Federal ID on the Tax Parameters form) should be set up to replicate their VAT returns to a single site, specified here. That site must be used to perform MTD processing on the VAT transactions from all of those sites.

    If a site is specified in this field, and it’s not the current site, then users cannot access the MTD forms from the current site.

  • All of the MTD forms were changed to add logic that only allows them to open if the Return Submission Site is the current site or blank. This prevents users from accessing the forms if they are not in a site from which submissions are made.
  • The MTD Transactions form now includes a Site column so that you can view the transactions by site.
  • The MTD Obligations and Returns form now has a Utilities tab with a Transaction Reset button. When you click the button, the modal MTD Transactions Reset Utility form opens. Use this utility to clear stamps for transactions included in an obligation that has not yet been submitted. You can then correct errors that were encountered during the calculation step, before you submit the obligation.

In addition, a new MTD replication category was added for use with multi-site.

Parent topic: What's New in This Version