WordPress Enterprise Resource Planning (WP ERP) is the first and complete ERP solution in WordPress Industry with four independent modules.
You may already know that WP ERP is a complete package with a Human Resource Management (HRM), Customer Relationship Management (CRM), Accounting and WP Project Manager.
With a rating of 4.5 and over 10,000+ installations from all over the world, WP ERP is being used both by small and medium businesses. And with this new version of Accounting plugin, WP ERP has become more powerful yet user-friendly than ever.
Roles of Accounting Software in Today’s Business
Accounting is one of the most crucial parts of any kind of business. Nothing but profit or loss will decide whether your business is successful or not and that profit or loss can be calculated correctly through the accounting tool.
If you don’t want to confuse yourself with analyzing the transactions as per the Debit and Credit rules, then you should go for the WP ERP accounting system.
The WP ERP Accounting software can reduce human error to bring perfection in work, increase working speed and can save your bank. Your transaction history and financial reports are just a click away.
Give a read to this article to get an idea about why accounting software is important in business.
What’s New in WP ERP Accounting Plugin
To make Accounting plugin faster and more suitable for users, we have introduced some new and powerful features while enhancing the old features.
Here’s everything you’ll be getting with the new WP ERP Accounting.
New Look of WP ERP Accounting Dashboard
The new design of the Accounting plugin dashboard is simple yet sophisticated. You will find everything just a click away.
We did not alter the previous design significantly so that if you are an old user you won’t feel lost. But a new user can easily use the plugin.
SPA Technology
The faster the response time, the easier it is for the user to conduct their work. Keeping that in mind, we’ve introduced the SPA (Single-Page Application) technology in our Accounting module.
There will be no buffering after clicking an option. All the functions will be loaded lightning fast while staying on the same page.
Opening and Closing Balance
When you start using the Accounting plugin, you need to input your current financial data into the opening balance. Check out this documentation to get a clear idea about Opening Balance. To close your financial year there is an option called closing balance.
Now you can manage your Accounts more easily.
Invoice With Estimate Feature
With the new updated invoice feature, you can create modern invoices. Now creating an Invoice is going to be more intuitive with this version of the WP ERP Accounting plugin.
We have added an Estimate feature that will help you create an estimated invoice for future reference. This process is also known as a quotation.
Our new invoice feature will increase accounting accuracy and will eliminate errors like money lost or duplicate invoices.
Tax Accounting
We have made Tax Accounting easier and flexible in the new WP ERP Accounting plugin. It is added to the menu bar on the top so that it will be easier to locate.
Options like Tax Zones, Tax Categories, and Tax Agencies are added under Tax.
You can set your tax rates according to your tax zone, tax agency, and tax categories. Give a read to this documentation to know more about Tax payment.
Over the years users have faced a lot of issues over tax rates and their payments. But with our improved plugin, they don’t have to worry about it anymore. Our plugin will take care of the calculation for the users
Transaction
For your convenience, we have brought essential features like
all under Transaction section. So all your transaction management will be a lot easier to handle.
We have also introduced a check system so that you can perform your transaction through check.
Billing System
To create bills and pay those bills faster, a proper billing system can be of great impact. For this reason, a more efficient billing system is embodied now in WP ERP Accounting.
Now you can create bills and payments against the transactions more conveniently.
Precognitive Reports
We have kept the trial balance, ledger report, balance sheet, income statement, and sales tax more organized and informative for you to easily understand the new Accounting plugin.
The new ledger report will greatly help you if you are trying to understand the latest balance of an account in no time.
In the new WP ERP Accounting plugin, reports will help you maintain a budget, predict cashflow and forecast revenue. So you can get an assessment of the current situations
Migrating Process to The New WP ERP
Now, let’s discuss how you can migrate to the new-revamped version of WP ERP. Find the answers on-
How would You Migrate?
Don’t worry, it’s easy. You will get a message to update the plugin- WP ERP with a link. This update will be for 1.5.2 version.
You need to just click on the given link. And WP ERP will automatically be updated within minutes. You don’t need to backup your previous data or do anything else. The plugin will automatically transfer and process your previous data in the latest version.
Changes You would Find after Updating
We already discussed the basic features we developed in this release, in the above parts of the article. Let’s mention some major changes you could see.
We have added a new section in WP ERP Accounting named ‘Transaction‘. You would find Sales, Expenses, Purchases, and journals all under this ‘Transaction’ section. Previously your ‘Vendor Credit and Payment Voucher were under Sales. But in the latest update, the vendor credit and payment voucher are in the Purchase section. And your taxes will be organized accordingly based on the previous tax data.
Is there any Problem if You don’t Update?
Not actually! If you don’t get any mail or request or don’t update your running version after getting the new Accounting Module, don’t worry! Your data will be safe.
There is no risk of losing your data if you are still in the older version. But we recommend you to update to the latest version to get all the benefits of the newly revamped WP ERP Accounting plugin. We are working hard only for you, beloved users!
Final Words
Our main goal is to make your work more efficient and effortless by delivering quality products.
We have added new features to the WP ERP Accounting plugin after researching the market demand and our client’s requests.
Even a non-accountant person can use the accounting plugin. Yes! We have made updates so that a person who is a non-accountant can use this plugin easily.
We hope your business will go a long way by using the new and improved WP ERP Accounting plugin.
