Versa Cloud ERP has added New widgets that will show KPI's, Reports and charts for businesses assisting them in their decision making process.
Widgets
In Versa Cloud ERP users will be able to customize the widget by choose the reporting period and the KPI's, Reports or Charts to show.
As an example: The reporting period can be current month, this quarter (calendar quarter),
this year (fiscal), last 3 months. last 6 months. last 12 months. User will have the option to choose to compare the KPI to another period. Either previous period or same period last year. When comparing data to a previous month, the system will indicate if the metric is increasing or decreasing by showing an up, down or horizontal arrow and the change in numbers.
Currently the widget categories are organized on the basis of type, Versa will now show the widgets based their function.
The new categories are
- KPI (user with financial reports permission will see them)
- Sales (user with sales permission)
- Purchase (user with Purchasing permission)
- Inventory (user with inventory control permission).
Please Note: Permission to view widgets is based on the category the widget belongs to.
User Can Create New Custom Widget
In addition to the KPI widgets Versa Cloud ERP has also added the ability for user to create a custom widget that will be based on GL. Users can choose a few report groups and then combine the values with other of report groups.
For now, the only category the user can create new widgets in will be financial reports. This can be computed with another set of groups, user can choose to either subtract or take a % from the other groups. This can be used by user to define custom metrics to track the performance of the business.
Example: User can choose report groups that represent the marketing expense of the business and track that month over month to monitor marketing spends. Users can also total the total market expense and calculate the % over total expense to see if marketing spend is getting bigger proportion to the entire spend of the business.
When creating a new custom widget, the user who creates it can choose to share this with other users in the firm. Other users can add this new widget to their dashboard, but they cannot modify the definition of the widget (change the report groups etc.). Only the user who created the widget will be able to edit or delete the widget. Once the widget is deleted, it will be removed from the other user's dashboard as well. Users can also choose to round the calculated total to x decimal places as part of the widget definition. When choosing report groups to sum on (for first report groups and second groups), the user can only choose report groups belonging to the same account type (asset, liability, equity, revenue, expenses, contra-revenue, contra-expense, contra-asset, contra-liability).
Other changes to widgets:
Previously, users could put the cursor on any part in the widget to move the widget. Now the user will have to click on the header to move the widget.
Users can now add reports to the dashboard by running the report and then choosing the option Add to Dashboard (except financial reports).
The current options for the report will be copied over and the new report added as a new widget to the dashboard. This widget is only visible to the current user and the user can choose to remove the widget from the list of widgets (by clicking on customize). There is no edit for such a widget as we copy most settings from the report itself. Users can however click on the widget setting when the widget is visible. This will bring up all the report options for the report to change.
The New widgets added are:
- Sales By Customer: Refers to a business analysis and reporting practice that involves tracking and analyzing the revenue generated from different customers or clients. This process involves collecting data on the purchases made by individual customers and aggregating that data to gain insights into customer behavior, preferences, and contribution to overall sales.
In Versa: The widget will show Sales from the top 5 customers in the reporting period.
Formula: It will be calculated from posted sales invoices.
- Sales By Product: Refers to a business analysis and reporting practice that involves tracking and evaluating the revenue generated from different products or services offered by a company. This process entails collecting data on the sales performance of individual products or services and aggregating that data to gain insights into product popularity, profitability, and contribution to overall company sales.
In Versa: The widget will show Sales from the top 10 products in the reporting period.
Formula: It will be calculated from posted sales invoices.
- Sales by Service: Refers to a business analysis and reporting practice that involves tracking and evaluating the revenue generated from different services offered by a company. This process entails collecting data on the sales performance of individual services and aggregating that data to gain insights into service popularity, profitability, and contribution to overall company sales.
In Versa: The widget will show Sales from top 10 services in the reporting period.
Formula: It will be calculated from posted sales invoices.
- Bills Due: Refers to financial obligations or payments that are scheduled to be paid by a certain date. These obligations can include various types of bills, such as utility bills, rent payments, loan installments, credit card payments, subscription fees, and other expenses that require timely settlement.
In Versa: The widget will show Bills grouped by age buckets.
Formula: It will be calculated from posted bills. Bill Age will be based on bill date.
- Sales by Customer Map: Refers to a visual representation that displays the geographical distribution of sales based on different customers or clients. This type of map illustrates where sales are originating from and provide insights into the regional or demographic patterns of customer engagement and purchasing behavior.
In Versa: The widget will show A map showing customer sales based on the state/province of the country selected.
Formula: It will be calculated from Totaled sales invoices.
- Sales by Customer Liquid Report: Refers to a comprehensive document that provides a thorough breakdown of sales data on a per-customer basis. This report offers a detailed analysis of each customer's purchasing activity including details on invoices and products, presenting a clear overview of their interactions with a business or company over a specified period.
In Versa: The widget will show Sales by customer with details on invoices and products.
Formula: It will be calculated from sales invoices.
- Aged Receivables Detail Liquid Report: This is a financial document that provides a comprehensive overview of outstanding invoices or payments owed to a company or business. This report breaks down the aging of receivables, categorizing them based on the length of time they have been outstanding. It helps companies track and manage their accounts receivable, providing insights into the timeliness of payments and potential areas of concern.
In Versa: The widget will show Details of amounts to be received on invoices grouped by age.
Formula: It will be calculated from sales invoices.
- Expense Listing Liquid Report: Is a comprehensive financial document that provides a detailed breakdown of various expenses incurred by a company or business over a specific period. This report offers a thorough overview of individual expense transactions, categorizing and itemizing them for accurate record-keeping and analysis.
In Versa: The widget will show the Lists the expenses. It itemizes the various expenses and shows the status of each.
Formula: It will be calculated from expense reports.
- Expense Listing by Status Liquid Report: is a specialized financial document that provides a detailed breakdown of expenses based on their current status or state of processing within a company or business. This report categorizes expenses according to different stages in the approval, payment, or reimbursement process.
In Versa: The widget will show Lists the expenses Details of amounts yet to be paid on bills with bill item details.
Formula: It will be calculated from expense reports.
- Aged Payable Details Liquid Report: Is a specialized financial document that provides a comprehensive breakdown of outstanding payments or liabilities owed by a company to its vendors or suppliers. This report categorizes payables based on their aging or the length of time they have been unpaid.
In Versa: The widget will show Details of amounts yet to be paid on bills with bill item details.
Formula: It will be calculated from posted bills.
- Invoice Due: Refers to the outstanding and unpaid invoices that a business has issued to its customers or clients. When an invoice is due, it means that the payment specified on the invoice is expected to be made by the recipient within a certain period, typically outlined in the invoice terms.
In Versa: The widget will show Invoices grouped by age bucket
Formula: It will be calculated from posted invoices
- Part Listing Liquid Report: is a specialized document that provides a detailed compilation of various parts or components used in a product, project, or manufacturing process.
In Versa: The widget will show Report that details the inventory of each product.
- Sales by Dimension Report: Is a financial document that provides a breakdown of sales data based on specific dimensions or categorizations that are relevant to a business's operations. This report allows businesses to analyze their sales performance from different perspectives, helping to identify trends, patterns, and opportunities for growth within various segments of their operations.
In Versa: The widget will show Sales break down by Dimension as specified
Formula: It will be calculated from sales invoices.
- Budgeted vs Actuals: Is a financial document that compares the planned budgeted figures with the actual performance or results of a business or project. This report provides insights into whether the actual financial outcomes align with the initial budgeted expectations, helping to evaluate the accuracy of financial planning and decision-making.
In Versa: The widget will show Budget item vs actual comparison
Formula: It will be calculated from budget amounts on specified GL accounts
- Sales Tracking: Refers to the systematic process of monitoring and recording sales activities and data related to a business's products or services. This involves collecting and analyzing information about customer interactions, transactions, and revenue generation throughout the sales cycle. The goal of sales tracking is to gain insights into the performance of a business's sales efforts and to make informed decisions that improve sales strategies and overall business success.
In Versa: The widget will Help track your sales by current month and compare against your target and previous periods
Formula: It will be calculated from totals posted to revenue GL accounts
- Cash: Is a financial document that provides an overview of a business's cash transactions and cash-related activities over a specific period. This report is designed to give a clear picture of the company's cash inflows and outflows, helping to monitor cash liquidity, manage financial operations, and ensure proper cash management.
In Versa: The widget will show a chart with your total cash for a GL account over a period of time
Formula: It will be calculated from totals posted to revenue GL accounts.
- Current Cash Position: Refers to the amount of cash and cash equivalents that a business or individual has on hand at a specific point in time. It represents the immediate liquidity or financial strength in terms of available funds that can be used for various purposes such as paying bills, meeting obligations, making investments, or covering expenses.
In Versa: The widget will show a table listing balances for all your cash GL accounts
Formula: It will be calculated from Asset GL accounts with the subtype of Cash
- Sales by Sales Channel: Refers to a method of analyzing and categorizing a business's sales revenue based on the different channels through which products or services are sold to customers. A sales channel is a specific avenue or platform through which a company interacts with and sells to its target audience. Analyzing sales by sales channel provides insights into the performance of various distribution methods and helps businesses understand how customers engage with their products or services.
In Versa: The widget will show a chart showing sales breakdown by sales channel over a time period
Formula: It will be calculated from posted sales invoices
- Sales Order Overview: Is a concise summary or snapshot of the sales orders that a business has received within a specified period. This overview provides essential information about pending sales transactions, allowing businesses to track their sales pipeline, manage customer orders, and ensure timely order fulfillment.
In Versa: The widget will show a chart showing new sales order over a time period with status
Formula: It will be calculated from sales orders
- Shipments by Carrier: Refers to the categorization and analysis of shipments based on the different transportation carriers or logistics companies used to deliver products or goods to customers. This analysis provides insights into the distribution of shipments across various carriers, helping businesses evaluate carrier performance, optimize shipping strategies, and enhance customer satisfaction.
In Versa: The widget will show a breakdown of shipment by carrier type
- Minimal Stock Level Products: Refers to the products or inventory items that have reached or fallen below a predefined threshold of stock quantity within a business's inventory management system. The minimal stock level is typically set to ensure that there is enough inventory on hand to meet customer demand and avoid stockouts or disruptions in supply.
In Versa: The widget will show a list of products that has fallen below minimal stocking level by facility
Formula: It will be calculated based on the minimal stocking level defined in the product page
- Inventory Position: Refers to the current status and availability of products or goods within a business's inventory system. It represents the collective snapshot of all items held in stock, encompassing quantities, locations, and conditions. The inventory position is a key aspect of inventory management, providing insights into stock levels, value, and overall inventory health.
In Versa: The widget will show a listing of all your inventoried products
- Communication Events Follow-Ups: Refers to the process of tracking and managing follow-up actions or tasks related to various communication events that occur within a business or organization. These events could include interactions with customers, clients, partners, colleagues, or any external entities. The follow-ups are tasks or actions that need to be undertaken as a result of the communication event to ensure proper follow-through and effective relationship management.
In Versa: The widget will show a list of follow-up that has not been completed
- Day AR Outstanding: (commonly abbreviated as "Day A/R Outstanding") Is a financial metric that measures the average number of days it takes for a company to collect payments from its customers after a sale has been made. This metric is used to assess the efficiency of a company's credit and collections management, as well as its ability to convert credit sales into cash quickly.
In Versa: The widget will show Days sales outstanding (DSO) is a measure of the average number of days that it takes a company to collect payment for a sale. A high DSO number suggests that a company is experiencing delays in receiving payments, which can result in a cash flow problem. A low DSO indicates that the company is getting its payment quickly.
Formula: It will be calculated by dividing the average accounts receivable during a reporting period by the total value of sales during the same period, and then multiply the result by the number of days in the period.
- Day AP Outstanding: (commonly abbreviated as "Day A/P Outstanding") Is a financial metric that measures the average number of days it takes for a company to pay its suppliers or vendors after receiving goods or services. This metric provides insights into how efficiently a company manages its accounts payable and cash outflows related to its operational expenses.
In Versa: The widget will show Days payable outstanding (DPO) is a financial ratio that indicates the average time (in days) that a company takes to pay its bills and invoices to its suppliers. A company with a higher value of DPO takes longer to pay its bills, which means that it can retain available funds for a longer duration.
Formula: It will be calculated by taking Total of Accounts Payable times Number of Days divided by Cost of Goods Sold (COGS) in the reporting period
- Sales Growth: Refers to the rate or percentage increase in a company's total sales revenue over a specific period of time. It is a key performance indicator that measures the expansion of a company's business and its ability to generate higher levels of revenue from its products or services.
In Versa: The widget will show Revenue for current month and compare to last month and same month last year
Formula: It will be calculated from total balances on Revenue GL Accounts
- Parts Backorder listing liquid Report: Is a specialized document that provides a detailed list of parts or components that are currently on backorder within a business's inventory management system. A backorder occurs when customer orders for certain items cannot be fulfilled immediately due to insufficient stock availability, and these items are awaiting restocking or production to meet customer demand.
In Versa: The widget will show a list of backordered products or products to be shipped when quantity on hand plus quantity on purchase order is smaller than quantity on sales order plus quantity allocated outside of sales order.
Formula: It will be calculated from sales orders
- Sales Backorder by Order Liquid Report: Is a specialized document that provides a detailed overview of sales orders that are currently on backorder within a business's sales and order management system. A backorder occurs when customers place orders for products that are temporarily out of stock or unavailable, and these orders are awaiting fulfillment as soon as the products become available again.
In Versa: The widget will show the qty of each unshipped order items and qty on hand(QOH). Grouped by customers.
Formula: It will be calculated from sales orders
- Gross Profit: Is a financial metric that represents the difference between a company's total revenue from sales and the direct costs associated with producing or delivering the goods or services being sold. It reflects the amount of money a company retains after accounting for the production costs directly related to generating its revenue.
In Versa: The widget will show A chart showing gross profit over a reporting period.
Formula: It will be calculated from Total GL balances from revenue accounts minus total balances from COGS GL accounts.
- Sales Revenue: Refers to the total amount of money generated by a business through the sale of its products or services during a specific period. It is a fundamental component of a company's income and represents the primary source of funds that contribute to the company's financial performance.
In Versa: The widget will show A chart showing total revenue over a reporting period.
Formula: It will be calculated from the Total GL balance from Revenue Accounts.
- Gross Profit Margin Definition: Is a financial metric that expresses the percentage of a company's gross profit in relation to its total revenue. It provides insights into the profitability of a company's core operations by revealing the proportion of revenue that remains after accounting for the direct costs of producing goods or services.
In Versa: The widget will show A chart showing gross profit margin over a reporting period.
Formula: It will be calculated from Gross Profit as calculated from GL divided by Total Revenue
- Average Order Size: Is a sales metric that calculates the average monetary value of orders placed by customers within a specific period. This metric provides insights into the typical size or value of customer transactions, helping businesses understand customer purchasing behavior and optimizing their sales strategies.
In Versa: The widget will show Average sales order total (excluding sales taxes) over a reporting period.
Formula: It will be calculated from sales order excluding returns and sales taxes.
- Working Capital: Is a financial metric that represents the difference between a company's current assets and its current liabilities. It reflects the amount of resources available to a company for its day-to-day operations and provides insights into its short-term financial health and liquidity.
In Versa: The widget will show Working capital is a measure of a company's liquidity and short- term financial health.
Formula: It will be calculated from Total GL balances for accounts considered as current asset minus total GL balances for accounts considered current liabilities.
- Current Ratio: Is a financial metric that assesses a company's short-term liquidity by comparing its current assets to its current liabilities. It measures a company's ability to cover its short-term obligations using its readily available assets.
In Versa: The widget will show The current ratio (liquidity ratio) that measures a company's ability to pay short-term obligations.
Formula: It will be calculated from Current asset divided by current liabilities. Totals from GL balances for current asset and current liabilities accounts.
- Inventory Turn Over Ratio: Is a financial metric that measures how efficiently a company manages its inventory by calculating the number of times its inventory is sold and replaced within a specific period. It indicates how quickly a company is able to convert its inventory into sales and generate revenue.
In Versa: The widget will show Inventory turnover and measures how often a company replaces inventory relative to its cost of sales. Generally, the higher the ratio, the better.
Formula: It will be calculated by dividing the cost of goods by average inventory for the same period.
- Return On Assets: (ROA) is a financial ratio that measures a company's efficiency in generating profit from its total assets. It indicates how effectively a company uses its assets to generate earnings and is a key indicator of its operational performance and profitability.
In Versa: The widget will show a financial ratio that indicates how profitable a company is in relation to its total assets. A higher ROA means a company is more efficient and productive at managing its balance sheet to generate profits while a lower ROA indicates there is room for improvement
Formula: It will be calculated by dividing the net income calculated from GL by the total assets of GL accounts.
- Return on Equity: (ROE) is a financial ratio that measures a company's profitability by comparing its net income to its shareholders' equity. It assesses how effectively a company generates profit for its shareholders based on the equity they have invested in the business.
In Versa: The widget will Measure a company's profitability and how efficient it is in generating profits. The higher the ROE, the more efficient a company's management is at generating income and growth from its equity financing.
Formula: It will be calculated by Net Income in reporting period divided by the ending period balance of equity GL accounts
- Debt to Equity Ratio: Is a financial metric that measures the proportion of a company's total debt to its shareholders' equity. It provides insights into the company's financial leverage and the extent to which it relies on debt financing compared to equity financing.
In Versa: The widget will Compare a company's total liabilities with its shareholder equity and can be used to assess the extent of its reliance on debt.
Formula: It will be calculated from Totals from liabilities GL accounts divided by Totals from Equity GL accounts
- Days Inventory Outstanding: (DIO) is a financial metric that measures the average number of days it takes for a company to sell its entire inventory. It provides insights into how efficiently a company manages its inventory turnover and reflects its ability to convert inventory into sales.
In Versa: The widget will show a financial ratio that indicates the average time in days that a company takes to turn its inventory, including goods that are a work in progress, into sales.
Formula: It will be calculated from Average Inventory values (from Asset GL accounts) divided by balances from COGS GL accounts times number of days in reporting period.
- Customer Acquisition Cost: (CAC) is a key performance indicator that represents the average cost a company incurs to acquire a new customer. It measures the expenses associated with marketing, sales, and other activities required to attract and convert potential customers into paying clients.
In Versa: The widget will show a business metric that determines how much it cost your organization to attract new customers.
Formula: It will be calculated from Totals from the accounts in specified GL report groups that contain your marketing cost into earning new customers.
- Number of Orders
In Versa: The widget will show the total number of new sales orders in a period
Formula: It will be calculated by Counting total number of sales orders in a reporting period
- New Customers Acquired
In Versa: The widget will show New customers created in a period
Formula: It will be calculated from the customer record creation date to determine when the customer is acquired
- Operating Income: Also known as "Operating Profit," is a financial metric that represents the profit generated by a company's core operations before considering interest and taxes. It reflects the profitability of a company's primary business activities, excluding non-operational income and expenses.
In Versa: The widget will Measure the amount of profit realized from a business's operations after deducting operating expenses such as wages, depreciation, and cost of goods sold (COGS)
Formula: It will be calculated from Gross income, which is equivalent to total revenue minus COGS, and subtracts all operating expenses.
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