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Simple way to management for your multiple warehous, include Serial Number inventory tracking.

Tuesday, November 14, 2017

Sales Management

Customer Maintenance
Function path: Debtors > Debtors > Customer Maintenance
A customer is anyone you might sell products to, provide services to, or send invoices to. With nextERP, you can easily store customers' data and track details to gain an insight for improving your business. On Customer Maintenance page, you add/edit a customer and maintain their information, such as name, address, contacts, financial details and so on. Each customer will have their own customer account number, and you will create all sales documents with these account numbers.

Function path: Sales > Quotations > Enter Quotation
A quotation is a document you provide to your customers that includes customer's information, items or services you offer and stated prices. It is used to tell your customer how much your products/services will cost before they make a purchase. With nextERP, you can create a quotation, email it to customers, print out a paper copy and then convert it into a sales order, to import items of a quotation to another quotation or a purchase order as well.

Sales Order
Function path: Sales > Sales Orders > Enter Sales Order
A sales order is a binding contract with your customers and is usually sent to customers before delivering products or services. In nextERP, once your customer confirms the quotation you can enter a new sales order or convert a quotation into a sales order. And then you will issue an invoice to your customer in accordance with a sales order.

Branch Order
Function path: Sales > Branch Orders > Enter Branch Order
A Branch Order is an order placed to a branch. In nextERP, When your customer asks for a product which is in another location, you will enter a branch order to have it transferred. Notice that Only Normal Stock, Faulty Stock, and Swop-out Stock can be transferred by branch order.

Internal Order
Function path: Sales > Internal Orders > Enter Internal Order
In nextERP,  A internal order is for employee self-used products. If the product is only used by your own company, you will place an internal order to record it. There are only 3 stock types which an Internal Order has, Normal Stock, Faulty Stock, and Swop-out Stock.

Function path: Dispatch> Invoices > Enter Invoice
An invoice, or called a sales invoice,  is a document which you send to your customers listing products or services you offered to them. And customers process the payment against invoices. In other words, an invoice is a bill. And these bills are important in your business's bookkeeping and accounting because they record all your sales transactions. With nextERP, you can easily keep track of your income and find out accounts receivable.

Invoice Delivery Note
Function path: Dispatch> Invoices > Enter Invoice Delivery Note
An Invoice Delivery Note is one of the shipping documents which is created in accordance with an invoice. It provides information on delivery date, address, receiver's name, stock list and so on. In nextERP, Enter Invoice Delivery Note helps you to make the document when the goods are ready to be shipped to your customer.

Credit Note
Function path: Debtors > Credit Note > Enter Credit Note
A Credit Note is a receipt given to your customer who has returned products, which can be offset against future purchases. In nextERP, you create a credit note according to an invoice to reduce the amount which your customer owed you. 

Credit Limit
Function path: Debtors > Approve Order/Invoice > Approve Credit Overdraft Sales Order
A company needs some methods to control potential bad debt losses. One of them is to set credit limits for customers. nextERP helps you to control your outstanding customers by setting credit limits. In nextERP, once you create a sales order that would cause the customer's outstanding balance above the credit limit, you will receive a warning. And then the sales order will not proceed until the manager approves it. It effectively helps you to have a healthy cash flow.

Overdue Payment
Function path: Debtors > Enquiry and Reports > Overdue Payments
It is good to set payment term codes on your customer accounts because Overdue Payment Report will effectively help you in controlling your customers. The report shows all overdue amounts and money that should have been in the bank already. 

Debtor Age Analysis
Function path: Debtors > Enquiry and Reports > Debtor Age Analysis
Debtor Age Analysis is a periodic report that lists unpaid customer invoices and credit limit. It is a good tool used to determine the financial health of a company's customers. Given a company's receivables are being collected slower than normal, it could be a warning sign that this company might have financial problems.

Monday, November 13, 2017

Financial Management

Bank Deposit
Function path: Debtors > Payments > Enter Bank Deposits
While you have deposited your money at bank, you will need to record it by Enter Bank Deposits. It will modify the Undeposited payments status of the receipts as deposited.

Cash Deposit
Function path: Debtors > Payments > Enter Cash Deposits
This function is exactly the same as Bank Deposit. The simply difference is Cash Deposit will skip the selection screen of undeposited receipt. It will be more easier to enter deposit entries. If you need to amend a Cash Deposit, you will use Amend Bank Deposit to finish it.

Payment Received
Function path: Debtors > Payments > Enter Payments Received
In nextERP, you use Payment Received while customers pay their invoices. There are four payment types supported, cheque, cash, credit card, and bank transfer. Once a payment received is reconciled, it can not be amended.

Move Payment
Function path: Debtors > Payments > Unallocate/Move Payments
In nextERP, Move Payment is used to revise your payment account. After unallocating/moving a payment, you will need to do account reconciliation to allocate it again.

Bank Transfer
Function path: Ledger > Reconciliation > Enter Bank Transfer
A Bank Transfer will be entered while your company pay your creditors/debtors using bank transfers, or transfer money between bank accounts. In nextERP, once a bank transfer is reconciled, it can not be amended.

Move Bank Transfer
Function path: Ledger > Reconciliation > Unallocate/Move Bank Transfer
In nextERP, Move Bank Transfer is used to revise your bank transfer destination account. After unallocating/moving a bank transfer, you will need to do account reconciliation to allocate it again.

Function path: Ledger > Journals > Enter Journal
nextERP automatically records transactions into the general ledger accounts, so you will not see journal entries for these transactions. However, sometimes you still have to process some journal entries for recording transfers between bank accounts or recording adjustment, etc. Enter Journal helps you to deal wit it.

Stop Order
Function path: Ledger > Ledger Maintenance > Stop Order Definition
A Stop Order is so-called debit order. It is an instruction that you issue to your bank to make future dated recurring payments. In other words, If you have a payment needs to deducted from your bank account each month, you will use Stop Order to deal with it. 

Bank Reconciliation
Function path: Ledger > Reconciliation > Enter Bank Reconciliation
A Bank Reconciliation is used to check bank transactions against the real bank statement. It ensures that the record of your bank account balances matches the amounts on your bank statements.

Debtor Account Reconciliation
Function path:  Debtors >  Debtors > Debtor Account Reconciliation
Debtor Account Reconciliation is used to reconcile a debtor account. When you have payments unallocated or moved, you will reallocate it by this function. Or you have a posted payment without allocating to any invoice number, you can allocate it by this function as well.

Creditor Account Reconciliation
Function path: Creditors  >  Creditors  > Creditor Account Reconciliation
Creditor  Account Reconciliation is used to reconcile a creditor account. When you have payments unallocated or moved, you will reallocate it by this function. Or you have a posted but not-allocated payment,  you can allocate it by this function as well.

Approve Voucher
Function path: Creditors > Importation > Approve Voucher
In nextERP, Approve Voucher is to control the transaction of general ledger involvement for ensuring the amount is correct and reasonable before updating the accounts. You can also change the settings to be automatically confirmed by nextERP.

Debtor Statements
Function path: Debtors >  Debtors > Debtor Statements
In nextERP, Debtor Statements is used to download selected Debtors' Statements. And there are many options to customize the statements for customers' need. 

Debtor Age Analysis
Function path: Debtors >  Debtors > Debtor Age Analysis
Debtor Age Analysis is a periodic report. It lists the balance of unpaid invoices and credit limit. It is a good tool used to keep a track of outstanding money owed to your company and to know how long each customer has owed. This report helps you manage your receivables to ensure that you get paid .

Month End
Function path: Ledger > Ledger Maintenance > Ledger Period End
At the close of each month, Month End is required to ensure all financial records and inventory are balanced before the start of a new month and keep your them updated. In nextERP, Month End will advance Debtors, Creditors and Ledger accounts simultaneously. Before doing Month End, you have to ensure all tills are closed and all bank reconciliations are done. Notice that Month Endcan not be reversed. 

Year End

Year End is the procedure to prepare your accounts and inventory for the coming year. By closing the year , you are effectively bringing the financial records and inventory up to date.  nextERP will automatically do Year End after each 12th Month End procedure.  Before doing Year End, make sure that you have entered all transactions and adjustment and no further entries are required for the current year.

Sunday, November 12, 2017

Serial Number Management

Good Receive
Function path: Serial Numbers > Abnormal Procedures > Good Receive
In nextERP, Good Receive is an Abnormal Procedures. Good Receive helps you to deal with the incoming goods without Purchase Order, for example, free samples or gifts from suppliers.

Serial Number Take On
Function path: Serial Numbers > Abnormal Procedures > Serial Number Take On
In nextERP, Serial Number Take On is an Abnormal Procedures. When you need to take on a good and track it, Serial Number Take On helps you to scan the barcode. Notice that Serial Number Take On will not adjust your inventory.

Good Issue
Function path: Serial Numbers > Abnormal Procedures > Good Issue
In nextERP, Good Issue is an Abnormal Procedures.  When you have scrapped items or you have serial numbers but no items found in stock, Good Issue will help you to correct inventory and these issued items will be set as written-off stock. 

Delete Serial Number
Function path: Serial Numbers > Abnormal Procedures > Delete Serial Number
In nextERP, Delete Serial Number is an Abnormal Procedures.  It will totally remove the serial number. Therefore, you can not get the deleted serial number back. Notice that Delete Serial Number will not adjust your inventory.

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