Hello, Business Owners! Though 2020 has given the worst experience in different businesses we hope the coming 2021 will help you to turn back. And, soon you will be able to compensate for all the losses.
WP ERP has passed this pandemic pretty cleverly. Here, we have focused on our customer’s likes-dislikes, issues, and fixed them respectively.
WP ERP Accounting is a tool that assists you to handle the entire Account system from the WordPress dashboard. Here, you can get invoices & Recieve Payments, create Estimation, add Taxes & VAT, and lots of useful extensions and add-ons to amplify your facilities.
In this article, we will try to give you a short yet precise tour of the WP ERP Accounting Review of the year 2020. Besides that, you can also get a glance at our future planning. So let’s get started.
WP ERP Accounting in 2020 in a Flash
The people from different business sectors have suffered a lot in 2020. To minimize their problems and extend their business growth, all WP ERP essential module along with Accounting has played a vital role.
This year, WP ERP launched the Pro Version thus there were huge changes in the core structure. Now it’s faster and easier than before!
The changes made in the updates of the WP ERP Accounting module this year are more suitable for medium-large companies. But as a result of that, now any type of business can handle their Accounting department smoothly.
Notable Features that WP ERP Accounting Has Added in 2020
The inventor of WP ERP, weDevs regularly update their products and try to cover all the user’s requirements. So, let’s get introduced to the renowned features of Accounting that are launched in 2020.
- Added VAT in the purchase and get VAT & Tax reports
- Include the prevention of product duplication when product create and update
- Added reference number for the expense, bill, bill payment
- Updated filtering system with type and people
- Updated customer transaction ledger
- Added transaction charge option for payments
- Bank balance transfer issue with opening balance cash
- Optimize code for better performance & security
- Added accounting payment email template
- Added new purchase email template at accounting
Apart from that, over the years the very talented Content Team of WP ERP & weDevs has contributed fascinating & informative accounting related articles with necessary Documentation for the WP ERP Accounting users.
What WP ERP Has Fixed
Besides adding different types of features WP ERP team has fixed some key issues like:-
- Vendor search while adding new product
- Trial Balance bank balance-loan calculation
- The balance of ledger report debit-credit label
- Pay bill duplicate entry issue on the ledger details
- Accounting load issue with different permalink structure
- Fixed opening balance that doesn’t support fraction amounts
- Issues of displaying only products of the selected vendor in the purchase transaction
All these issues are repaired perfectly, till we are finding dilemmas to give a flawless user experience.
How WP ERP Accounting Helped Its User to Cope Up During COVID-19
During this outbreak, the Accounting module of WP ERP has tried the best to support the customers and upcoming users. So, let’s check out how this effective system assists the company owners with accountings in 2020.
Handle the Users and Employees
Though company owners had worked remotely the business never got hampered. WP ERP had tried to support the entire company without any hassle in the pandemic situation. No matter where the users are, the owner could create customers, vendors, or employees from their Accounting dashboard.
Easy invoice Creating
If the owner wanted to sell the inventories, he/ she could use this feature. The most amazing part is an organization owner can record the inventory sales transaction with transaction date, due date, billing address, item details, tax rates, and many more.
Apart from that, he/ she could add product images for better insight.
Creating An estimation
WP ERP Accounting module helped people in the estimation while the business owners are preparing an invoice. This approximation provided a rough idea of the price of the products. With this feature, a businessman is a few steps away to estimate the overall price.
Creating and Paying Bills
There are options for creating and paying your bills. It’s a great feature for the pandemic as you could pay all your bills from home. You could check your previous payments because all the transactions would be recorded. And, you could check the bills by just clicking on their name.
The fun part is- if you had different bank accounts, you could choose the bank when you were about to pay.
Easy Calculation on Purchases
If the owner wanted to buy anything from a vendor on credit then there is a feature called Purchases. Here, he/ she had to add all the necessary information of a vendor. The payment method is easier for everybody. Here, you would get 3 types of options-
Wasn’t it amazing?
Tax Payment and Rates
In the outbreak situation of the world, you might feel trouble while paying the tax. And, the main hassle started when you had to calculate the tax.
With WP ERP Tax Payment, you could do this within a few clicks. At first, you had to set the payment method. After that, you had to set the tax zone, tax categories, and tax agencies. In this case, Tax Shortcuts would help you a lot.
If you wanted to check out the past history and last debit or credit balance of an account, you could use the Ledger Report option of WP ERP. Basically, it is the shortcut to checking an account effortlessly.
What Is Coming in 2021: Future of WP ERP Accounting
In 2020 we have planned to launch some useful and effective features for the Accounting module. These features will improve your user experience better than before.
- VAT in purchase report
- Sales TAX report
- Sales and Purchase return
- WooCommerce refund integration
- Multiple WooCommerce sites connect to the accounting
- Accounting frontend
- Multi-currency invoicing and payment
- Quickbook integration
- Bank Reconciliation
Surprise for WP ERP Users in 2021!
At the beginning of 2021, the complete WP ERP will be available on the Frontend.
Usually, you have to manage everything from the WordPress dashboard. It can be messy sometimes. But, from now, you can log in with the precise advanced frontend design solution.
There is a Frontend solution for HRM already. And, we are going to make it for Accounting and CRM as well.
Besides that, you will get some more options in Accounting Module like-
Quickbook Integration: We are planning to produce a new integration with Quickbook. This will help you to sync with your WP ERP accounting data with Quickbook.
Inventory Management System: In our Inventory Management System, we will add more features like- Asset Tracking, Inventory valuation report, Product identification, and Transfer product from one location to another location.
Summing Up WP ERP Accounting Review 2020
Phew! Finally, 2020 is over and we are about to welcome 2021. Though we have passed through big challenges globally, we should be grateful that we are safe and alive.
The ups and downs in our companies or businesses will go on but what we can do here is, choosing the right companion to assist us with calculation and financial management. Powering over 10,000+ active businesses worldwide, WP ERP is a great solution for Accounting, CRM, and HRM.
The upcoming year will be full of surprises for the WP ERP Accounting users. But for now, try to rule your industry through the WordPress dashboard.