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Purchase Order Analysis Report in ERPNext

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Purchase order plays a crucial role in managing the flow of products or services in Supply Chain. When the volume of purchase orders is high, it becomes quite challenging in tracking the status of each PO, deliveries against the POs, delay in deliveries and supplier performance. Purchase Order Analysis Report in ERPNext provides valuable insights into the purchasing patterns, tracking deliveries and supplier performance. It helps organizations make data-driven decisions, optimize procurement process, and enhance overall operational efficiency. If you want track which purchase order are yet to be received or already received but yet to be billed or completed, then this is an ideal report for tracking. Benefits of Purchase Order Analysis Report Purchase Patterns: It helps in analyzing the buying patterns, frequently purchased items and items purchased project wise. Supplier Evaluation: Helps in evaluating suppliers’ reliability by assessing the timelines of delivery and pricing. Tracking of Deliveries: Tracking of the items yet to be received or purchase orders yet to be billed in real-time. How to use this Report By Date Range: Filter the purchase orders by a date range. The purchase orders will be filtered based on the start date and end date selected in the standard filters. By Project: By filtering the project in the standard filters, you can track the purchase orders raised against the selected project. By Status: The purchase orders can be filtered based on the status such as To Receive and Bill, To Receive, To Bill, Completed. Grouping by PO: By default, all the purchase orders are displayed item-wise. However, if you select “Group by Purchase Order” then the summarized figure against each PO will be displayed. Item wise Tracking: You can filter the item column by typing the item name or code. This way you can track the orders placed for same item across different suppliers or monitor the fluctuations in rates or track the status of deliveries and billing. Supplier wise Tracking: Enter the name or code of the supplier in the respective column to filter the report by supplier. This will help in evaluating the delays in delivery for the items ordered. Dashboard Charts or Cards: Customer cards and charts can be created based on the data in report. These can be added in standard or customer dashboard or in the workspace.

Procurement Tracker in ERPNext

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Procurement is a vital function for any business and closely integrated with both internal and external stakeholders. Procurement department often struggle with lack of visibility and control over their processes, leading to delays, overspending and inefficiencies. Without a centralized system, its quite challenging to track the purchase orders and requisitions from users. Procurement Tracker from ERPNext is a powerful tool that streamlines procurement activities, providing real-time visibility and control over the entire procurement cycle. I will explain more about the features and benefits of procurement tracker in this post and how businesses can use it to improve efficiency. The procurement tracker helps procurement department in tracking the following: How it benefits the Procurement Department? To know more about how ERPNext can improve your business operations, write to isyed@techfordai.com

Sales Analytics Report in ERPNext

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In the current competitive business landscape, it is crucial to have a deep understanding of how your business is performing. ERPNext offers powerful sales analytics report that provide valuable insights into your business operations. This helps in taking data-driven decisions to improve your sales strategy, customer satisfaction and grow revenue.  As a business owner or as a manager, you often face challenges in tracking and analyzing your sales data. The common questions would be Which are the best selling products?Who are the top customers?How is the month wise sales trend?Which territory is bringing in more sales? and so on.. Sales Analytics Report from ERPNext provides answers to all the above questions and more.  How to use this Report?  The report can be generated based on Sales Orders or Delivery Notes or Sales Invoices. Moreover, you can evaluate based on the Quantity or Value of sales.  The data can be analyzed on a weekly, monthly, quarterly and yearly basis from the selected date range. You can also build visually appealing charts within the report for easy analysis.   Customer: Analysis at a customer level will give you an overview of who are the top customers, insights into the sales activity or trends for each customer. This will help in developing strategies on improving customer retention and upselling.  Customer Group: If you have categorized customers into various groups (or categorized), then you can do the analysis based on which group is bringing in more sales and which group needs improvement.  Item: Analyze the sales performance of individual items, identify the best selling item/service, and identify items that need more marketing efforts. This will also help in analyzing the trends and ensuring that adequate stock of best selling items are available.  Item Group: Get insights on the best performing item groups (or categories). This helps in adding more product ranges to the best performing categories.  Territory: This is a powerful analytic if you have customers outside your city or state or country. Customers can be organized in territories and you can make decisions on which territories to focus on based on the sales numbers. 

Customization of Last Purchase Prices in ERPNext

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The purchase order in ERPNext is a crucial document for the procurement department. Having access to the historical purchase data is vital in the decision making process and negotiating favorable deals. Although the item-wise purchase history report is available in ERPNext, one of our clients wanted to see the last purchase prices within the PO. At Techford Ai, we recognized the importance of providing actionable insights which led us to develop a custom script in ERPNext to fetch the last purchase prices of an item in Purchase Order. How does it work in ERPNext? Considering the fast paced environment of procurement users, we have simplified the process of checking the last purchase prices inside the PO. While creating a purchase order, the user will add items in the item table.  If the user wants to check the historical price data of any item, then he can click on the button “Prices” within the Item table. The prices will be fetched and shown in a separate table as shown in the image below. What information is visible? How does it help the procurement team? Looking for similar Customization in ERPNext? Get in touch now on isyed@techfordai.com

General Ledger Report in ERPnext – A Comprehensive Guide

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Among the robust features offered by ERPnext, the General Ledger report stands as a cornerstone for Accounting Management. In this blog post, we will delve into the functionalities of the General Ledger report, its significance and how it empowers businesses to track and manage accuracy and transparency in Accounting Records.  What is the General Ledger Report in ERPnext? It is a detailed report that provides an overview of all the transactions recorded for a company over a specific period. It’s a centralized repository which summarizes all accounting records across the modules including buying, selling, assets, stock and payroll. Key Features and Benefits of General Ledger Report Drill Down Functionality: The General Ledger report offers drill down functionality where the users can delve deeper into the individual transactions. Each row will have the reference voucher type and the voucher number.  This helps in verifying the accuracy of the transactions and identify any discrepencies with ease.  Reporting Periods:  ERPnext offers users to generate the report for any desired timeframe, be it daily, weekly, monthly, quarterly or annually. This enables businesses to analyze financial data across various time intervals.  As shown in the image below, the time period can be selected using the from and to dates.  Multi Company: If you are managing multiple companies in the same instance, then the user can choose the desired company from the company field. Multi-Dimensional Filtering: Users can filter the report based on various parameters as shown in the image above. The following are the parameters available for additional filtering of data.  Account: Users can choose an individual Account or multiple accounts and all associated transactions affecting that particular account/s will be shown. For example, users may want to see any expense account or trade receivable or any bank or cash account.  Voucher No: If the user knows the voucher number, then it can be entered in the field to filter the data based on the particular voucher number.  Party Type and Party: If users want to see the transactions for a particular customer or supplier or employee then the filtering can be done by selecting the desired party type and party.  Cost Center and Project: Users can filter the transactions for a particular cost center or project, and also for multiple projects.  Drag and Drop: Users can easily drag the columns to the desired position for a better overview of the data and easy analysis of information. Additional Columns and Custom Report: As shown in the image above, users can remove unwanted columns and add new columns by clicking on the menu (…). The fields from various doctypes can be fetched and added to the report for further analysis. On top of it, users with required permissions can save it as a custom report for any future use.  Audit Trial and Compliance: The General Ledger report assists the businesses in maintaining compliance with regulatory requirements by providing comprehensive trials of accounting transactions. With the detailed documentation of all accounting transactions, the report helps businesses in streamlining the audit process.  For any questions, please feel free to get in touch on isyed@techfordai.com.

Payment Reconciliation Process in ERPnext

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In businesses, the payments are sometimes received from customers or made to suppliers without reference to invoices. As a result, the invoices are shown as unpaid or overdue resulting in inaccurate reporting.  Hence, it is ideal to reconcile the payments against the invoices periodically. The following are the step-by-step methods for payment reconciliation in ERPnext.   You can use the awesome bar to search, alternatively, you can find payment reconciliation under Accounts Receivable and Accounts Payable cards in the Accounting module.  To reconcile the payments received, select customer and for payments made, select supplier.  Once the customer is selected as Party type, select the customer for which you want to reconcile.  Once the customer is selected, click on “Get Unreconciled Entries” to fetch the outstanding invoices and payments.  Once the unreconciled entries are fetched, select the invoices and the payment entries which needs to be reconciled and click on “Allocate” button.  The amounts are automatically allocated and can be found under the “Allocated Entries” section. However, the allocated amounts can also be manually changed. Once the allocation is done, click on Reconcile to complete the Payment Reconciliation.  Upon completing the reconciliation, the status of Invoice/s will be updated as Paid, provided the full outstanding amount is allocated. The same process can be followed for Suppliers as well. To learn more about how ERPnext can help your business, click here.

Project Profitability Analysis in ERPnext

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ERPnext is loaded with many features for project costing. For project based companies, it is crucial to capture all the costs incurred at project level. Various categories of costs including material/stock consumed, man hours spent on the project, expenses incurred can be captured. Moreover, the revenue for the project can also be captured at transaction level. This helps in evaluating the total revenue of a project, total cost incurred for a project and the Gross Profit or Loss. The below report shows the profitability analysis at project level and same report can also be used to track the profitability cost-center wise. The above shown report can be used to have a quick overview of the gross profit/loss at project or cost center level. For further analysis of the project profitability, we can look at the Costing and Billing section in Project. As shown in the image below, we can track the Manpower costs entered using time-sheets, expenses claimed for the project, cost of purchases for the project, cost of material consumed, Total amount billed for the project. To conclude, along with the amazing project management features, ERPnext also comes with Project cost management. In the upcoming posts, I will explain how a company we can set budgetary controls at project level.

Gross Profit Report in ERPnext

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ERPnext offers a powerful report where you can check the gross profit amount and margin rates at transaction level. As a Business Owner, you are curious to know the Gross Profit you are making on day to day basis. Now you can check the GP for each Invoice, Item, Item-Group, Customer, Customer-Group, Project and Sales Person. This helps in evaluating which item has high gross margins or which sales person is bringing you maximum GP or which customer or project is giving you maximum Gross Profit. The gross profit is calculated by deducting the buying amount or the valuation rate from the selling price of the item. As per the image shown below, you can check the Gross Profit for each sales invoice entered in the system. Moreover, you can also see the Gross profit for each Item, Item Group, Customer, Project, Sales Person or Territory. This helps in understand the top performers using various grouping options in ERPnext. This feature especially helps trading companies to keep a check on the GP and maximum their profits.

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