How Finance Teams are Using Fulcrum

Managing finances is a crucial part of any manufacturing business, and with the right tools, you can easily track and organize all of your financial data. In this video, we explore how Fulcrum can help manufacturing companies track data related to purchasing, invoicing, and sales orders. Fulcrum allows you to easily organize and tweak production and finance data and integrate seamlessly with your accounting software.

Purchase Orders Grid

The Purchase Orders grid in Fulcrum is where you can find a comprehensive list of all your purchase orders. You can quickly view the status of each order and other essential information such as receiving information and dollar amounts. Fulcrum also provides Key Performance Indicators (KPIs), filters, and data downloads that help you sort, analyze, and export the data easily.

Integration with Accounting Systems

Although Fulcrum is not an accounting software solution, it can be integrated with your preferred accounting system. This integration allows you to sync crucial financial data directly to your accounting software, making it much easier to manage your finances.

Invoicing Grid

The Invoicing grid is where you can create, issue, and manage invoices for your customers. Fulcrum automatically populates the invoice with all the necessary information from the sales order, eliminating the need for manual data entry. You can also move invoices between different statuses, which can trigger the invoice to sync with your integrated accounting software.

Month-end Accounting Reports

The Month-end Accounting page in Fulcrum provides a suite of month-end reports that are commonly used to close out your books. The Cost of Goods Sold report is particularly popular, as it helps businesses summarize their monthly totals and make the necessary journal entries to update their books.

Sales Orders Grid

The Sales Orders grid serves as a hub of information in Fulcrum. From the sales order, you can access different areas such as invoices, jobs, shipping, and purchase orders. This centralized location makes it easy to view and manage all of the essential financial data associated with each order.

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Fulcrum offers a comprehensive solution for manufacturing companies looking to streamline their financial processes. With easy-to-use grids, seamless integration with accounting software, and powerful live data insights, Fulcrum can help you stay on top of your finances and make better-informed business decisions. To learn more about how Fulcrum can help your manufacturing finance department, check out our Finance & Accounting Reports page.


Transcript

Hello everybody, my name is Haley. If you are in a finance role or a business owner at your company, I'm going to show you some things in Fulcrum today that are going to really help you understand how the system works and where to get some of that accounting-based information that you need.

One of the first big things as it relates to accounting are purchase orders. So, where I am now is our purchase order grid. This is where you're going to see the main list of all of your purchase orders. You're going to see all of the different statuses and some high-level information about things like the receiving information, dollar amounts, etc. From this page and from all of the pages that I'm going to show you today, you are going to see KPIs, these filters at the top of the page, which are all clickable, making it really easy to pre-sort the list of what you're looking at. You're also going to see filters here where you can drill in even more into the specific things that you're wanting to see. And we have these awesome data downloads that are accessible on almost all of our pages in Fulcrum as well. So, when it comes to your accounting and the different pages that I'll show you, you're going to be able to do grid result downloads, which are exports of the data that you've pre-filtered, and a few other different options like open POS, which is a report that does show you exactly your open purchase orders. So, POS is the first really important thing in accounting-related transactions.

I think one of the things to highlight is that even though Fulcrum is not an accounting software or accounting solution, we have a lot of customers who will integrate Fulcrum with their accounting solution of their choice. And these things that I'm showing you actually sync over to their software where you can continue managing them.

Another really important area if you're in a finance role is, of course, invoicing your customers. So, this page that I'm on right now is our invoice grid, and this is where you're going to come to create invoices, issue invoices, maybe even follow up with your customers. And you can see from a high level the different statuses and those same things I mentioned before being able to pre-filter by different statuses or searching.

One of the things that's really cool about creating invoices in Fulcrum is that when you create it, it's automatically populating the invoice with all of the information that comes directly from the sales order, so you're not doing any kind of manual entry or copying over of line item details. Here, I can see on the invoice the line items, the shipping charge from the order, and I can even see a reference to the sales order that this came from. On the sales order record, we have an actions list also, which makes it super simple to move this invoice back and forth between different statuses, and some of these statuses are what actually trigger the invoice to sync to that accounting software that you are integrated with.

The accounting world in Fulcrum would not be complete without coming to this month and accounting page. This is our little suite of month-end reports that are really commonly used to close out your books, whether it is at month-end or maybe if you're closing out your books for the year. I know for me what I see used really often is this cost of goods sold report. A lot of my customers will download this at the end of the month, summarize those monthly totals, and then put in a journal entry to hit their books and represent what was in Fulcrum for that period of time.

Last but not least, I want to take us over to the sales order page. The sales order in Fulcrum is really a hub of information, and we have another video that's going to do a full deep dive into the order entry process. From the sales order, it branches out to different areas of Fulcrum, like the invoices, jobs, shipping, and purchase orders. All of these branches off of the sales order, and this page does an excellent job of synthesizing all of that back, putting it in one place so that you can see it from a high level. Looking at this list of sales orders and the different statuses of orders, for example, I can see at a glance that my order that is in progress is already shipped, and it's not invoiced yet, which might trigger me to take action and invoice this customer.

To show you an even more in-depth example of what I mean by the sales order being a hub of information, let's take a look at order 1001 here. From the sales order, if I scroll down to this Associated records section, take a look at this list of records that are all tied to this order. We've got invoices, jobs, purchase orders, the quote, the shipping record, and all of it is in one place for you to click into and dig into further. Even down here, I can see at a glance the status of the job that's producing this item.

So that was a lot of information really fast, but the key point here is that Fulcrum has a lot of different areas that are going to help your accounting processes be really fast, help you follow up with your customers and vendors, and be really valuable for you. I hope you enjoy some of the other videos that take deeper dives into those other modules of Fulcrum, and I hope you enjoyed this video today. Thanks for watching.