While you are looking for an Accounting Management System, you might not think about a WordPress accounting plugin, right?
Most of the people think WordPress is simply a content management system that handles blogging. What if I told you that it’s more than a blogging tool!
WordPress is evolving everyday and it is offering many amazing functionalities that were unimaginable. Now, it can provide you almost any kind of web applications that can help you efficiently.
Well, you might not even believe it! But WordPress is just that and it also has an ERP plugin available in the market! Built mainly for small business owners, WP ERP comes with three main modules: Accounting Management, Human Resource Management, Client Resource Management, and Project Management that works via WP Project Manager.
Already an established ERP solution for WordPress, with a FREE Accounting Module it leaves the competition behind. Not only does it provide all the basic accounting features for small to medium business owners but it also extends them. Whereas WordPress doesn’t really provide you any good accounting plugin, WP ERP gives you an accounting plugin with other ERP solutions absolutely FREE.
Accounting tools for small business
If you are a serious business owner whether small or medium, you cannot afford to be careless with your accounts. Gone are the days where you have to keep the record of your tax data, customer data, etc on chunks of papers that you can’t even manage without experts. Not to mention all the human errors. Tools like Microsoft excel might be enough if work with a small volume of data. But it will not very helpful when doing collaborative work.
A solution to this situation makes way for more problem. If you outsource your account management to other people your process has to match their way of account management. This will slow down your business and be costly.
To solve all this, introducing an accounting tool to your business process will work best. This is where WP ERP comes in.
WP ERP plugin’s “Accounting Module”
Built with the help of industry experts, WP ERP gives you a complete ERP solution that is easy to understand.
If you are a small to medium business owner chances are high that you are already using a WordPress CMS. Implementing an Accounting tool on your already existing website makes sense both in the short & long term. You don’t even need to be an expert to operate it. This will also save you money and time while also giving you a familiar accounting management system experience that you are used to by using WordPress.
WP ERP plugin has three different modules. It was built with flexibility in mind so that it could cater to any type of customer. You can use WP ERP as a whole package or a standalone WordPress accounting plugin by simply disabling the other modules. You can do that easily by going to the –
wp-admin→ERP Settings→Modules
Here you need to uncheck all the other modules except for Accounting. After this, WP ERP plugin will act only as a WordPress accounting plugin.
If you ever need the other modules enabled you can simply recheck them. This is a rarity in today’s market where every product makes the user work in it’s defined way while it should be the other way around.
Features
Dashboard
WP ERP Accounting module shows you an overview of all the different accounts that you are managing in its dashboard. These consists of
- Income & Expenses: Shows you a chart showing your whole year income & expenses from January to December with respect to value.
- Business Expense: A color diagram showing you all the business expenses of the current year.
- Cash & Bank Balance: The Current amount you have reserved will be shown in currency format.
- Revenues: A table showing you the revenues divided by income & expenses.
- Invoice payable to you: Gives information about all the due bills you will be paid for the coming 1 to 30 days all the way to more than 90 days.
- Bills you need to pay: Currently due bills from the next day to more than 90 days.
You can easily find all the important information about your accounts if you ever need them from here.
Customers
This section lets you add Customer data and their separate expense account so you can keep a record of them individually. This keeps all your customer record organized.
You will be able to see information about their company, email, phone, expenses for future reference on the front. You can also add new customer information from the Add New button.
Vendors
You can also separate record of each and every one of your vendor from this section. It helps your vendor accounts kept in check.
A table showing the vendors email, phone, balance is shown on the front. An Add New button is on the top for adding new vendor data.
Sales
Whether you are selling a product or service, you need to keep a record of your sales. On the top section of this menu, you will see two color diagram showing you two different sales transaction overview. The left one shows you the outstanding and received payments diagram using $ format. The one on the right will show you the status of the paid, overdue, partial, draft payment on the color diagram formatted in numbers.
Just below that, you will be able to see a table that shows all the sales transactions by date, type, reference, customer, due date, due total, status.
On the top section, there are two buttons that let you add received payments and new invoices.
Expenses
This section of the accounting module lets keep an eye on all the expenses that are happening in your business.
On the top section two colored diagram lets you see all the payments and status of those payments along with total outstanding payments. There is a table that shows all the expenses by date, type, etc.
You can also add new payment voucher for purchases that are made through bank or cash along with add vendor credit for purchases that are made as credit from the vendor. For these options, there are two buttons at the top above the diagram section.
Chart of accounts
All the account information on your organization general ledger is easily available from here. You can see all your assets, liabilities, expenses, income, equity.
You can also add a new account by giving them an account type and a unique account code.
Bank accounts
You can manage all your bank payments from this section. Whether it’s receiving money or sending it all can be done from here. You can transfer money between accounts.
Journal Entry
For advance accounting functionality there is Journal entry. You can log your account transaction in the journal here. If you are familiar with the accounting term Journal Entry and have prior experience with it you should feel right at home.
Reports
Accounting module gives you auto generated report so that you don’t have to. The report can be generated for
- Trial Balance: Gives you an auto-generated report on all the balances of the general ledger.
- Sales Tax: Detailed report on sales tax charged or paid for the current financial year.
- Income Statement: A profit and loss statement containing revenue, gross income, operating income and much more.
- Balance Sheet: A “snapshot” type report for the current status of your accounts for a specific date.
- Product Purchase: Purchased products history by date.
- Product Sales: Product sales history by date.
- Inventory: A detailed report combining product purchases and sales history filtered by date.
Powerful Premium Extensions
Other than the FREE modules you can add more with very little payment. Make your WordPress Accounting plugin even more powerful using the following extensions.
- Reimbursement: Help you automate all the expenses made by your employers so that you don’t have to.
- Inventory: Maintain inventory, generate reports, calculate purchase tax and much more using this extension.
- Workflow: Gives you an “If this then that” functionality so that you will be able to automate your actions for specific triggers.
- WooCommerce Integration: If you are an existing WooCommerce user, you will be able to sync all your orders and transaction data to the accounting module using this extension.
- Payroll: You will be able to automate all your employee salaries even when paying them weekly, bi-weekly or even monthly after adding this extension.
Compared to other ERP solutions the prices are very cheap. Much cheaper if you consider the value that you are getting.
Final thoughts
ERP is not an expensive service that only the big companies are able to afford. Good ERP solutions are getting cheaper and ERP solutions with reasonable price are becoming better. In this competitive marketplace, WP ERP takes a completely different approach. It implements all of its services on the existing platform that you are already familiar with. With its Accounting module, HR module, CR module
With its Accounting module, HR module, CR module not only does it give your business a competitive edge but also makes all your operations that much smoother. All of this for FREE. This alone makes it a must try.
WP ERP has a powerful demo site, where you can create your own installation of ERP system and check whether it fulfills your requirements or not. Simply, select the accounting apps that you want inside your system and create your demo site.
