Epicor Financial Management offers a refreshing new approach to business, a suite of accounting applications built for the highly regulated and increasingly global business world. Built around a series of “global engines“ that support effective financial management and control anywhere.
Our goal is to help every business achieve sound financial management and control, from a single general ledger to the extended global enterprise, efficiently. Epicor Financial Management gives you access to real–time fiscal information and provides the modern platform you need to support business around the world.
Epicor Financial Management 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. As your business is extended through a combination of organic growth and mergers and acquisitions, it can become challenged by complex and demanding global financial and regulatory burdens—demands that you must adapt to instantaneously. At the heart of the Epicor solution, Epicor global engines are designed to add accounting agility and flexibility to your business while simultaneously allowing you to meet the local financial and legal compliance requirements of individual markets.
The rules-based global posting engine is central to the way Epicor applications work, and in particular, how Epicor Financial Management handles system transactions. Powerful enough to support the most complex global enterprise, with a need to configure comprehensive rules for how transactions from subledgers are managed and posted to the general ledger, yet easy enough to support straightforward or out-of-the-box standards for smaller businesses.
The highly configurable global tax engine allows businesses to define comprehensive tax rules and calculations in order to meet the needs of unique tax requirements and jurisdictions internationally, and then update them as often as needed.
Legal Numbering Engine
Epicor Financial Management contains a global legal numbering engine to manage legal numbering of all the printed transactions that a company sends to customers and suppliers.
Specific transactions that the legal numbering engine affects are:
- Sales Order
- AR Invoice
- Purchase Orders
- Credit Memos
- Promissory Notes
- Payments (checks)
Epicor Financial Management offers a global multicurrency engine that can support an unlimited number of currencies and exchange rate combinations. Sophisticated currency management provides the ability to process transactions in any number of currencies and gives your business the global competitive edge. Any currency can be used as the base currency for all financial records and accounting books, with default currencies applied at the general ledger account, user, customer, and supplier levels. Currencies may also be selected and changed at the transaction level as well.
Each company can have up to three reporting currencies; a reporting currency is one you use to record or report financial transactions. You can, however, have an unlimited number of transactional currencies, which gives you the ability to conduct business all over the world. The powerful multicurrency engine features include:
- Ability to define unlimited currencies
- Ability to print reports in both functional and base currencies
- Ability to enter transactions in any currency and process payments or receipts in any currency
- Comprehensive functionality to revalue transactions within the General Ledger, Accounts Receivable, Accounts Payable,and Bank Accounts with the option to simply report in detail or summary, or report and post as a single reversing journal the value of the revaluation directly to the General Ledger
Epicor Financial Management also supports creation of currency rounding rules through a global rounding engine that is subscribed to by other application modules. Highly flexible and configurable, rounding rules may be created for specific customers, countries, currencies, and in support of local business or legal practices. The rounding engine supports up to three decimal places of currency precision.