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New Release – 8th August 2021

FEATURES: Phantom BOMs for subproducts, hierarchical chart of accounts, financial periods report with updated monthly closing process, and more!

Feature 1: Phantom BOM

Impact area:  

Production module

Introduction: 

When it comes to nested products within a Production BOM, a separate nested Production Order is created for the nested product (e.g. Parent – Cake and Child – Frosting). However, in some cases, it will make more sense to produce the nested product in the same production process as the parent. 

In this release, we have introduced a phantom BOM, representing a product that is physically built, but not stocked, before being used in the next step or level of manufacturing. This can be used to add earlier production steps (Frosting) quickly and easily into multiple parent BOMs, while still keeping the child as part of the same production process. Phantom BOMs function like an assembly BOM with auto-assembly/disassembly enabled.

Phantom BOMs can also be used to auto-disassemble a component (e.g. package of flour) into the required quantity for production during the production process. 

Pre-conditions: 

More information:

Documentation will be included in the next release. 

 

Feature 2: Hierarchical Chart of Accounts

Impact area:  

Financial module, Settings

Introduction: 

The Chart of accounts lists the accounts used by an organisation to define the entity’s finances and segregate expenditures, revenue, assets and liabilities. Multi-level accounting structures are used by merchants to track segments of companies, business units, or profit centers. This structure allows organisations to consolidate their transactions by levels for summary purposes. In this release, DEAR have added the option of selecting a hierarchical COA structure as well as the flat structure currently in use. Hierarchical COAs allow users to create subaccounts for an existing account. 

Pre-conditions: 

Functionality: 

 

Transactions can only be posted to the bottom-most level of sub-accounts. Accounts with transactions can not be deleted. Adding a sub-account to an account with transactions will trigger a  confirmation message, confirming that all transactions will be moved to the sub-account. 

 

Feature 3: Monthly closing and financial periods report

Impact area:  

Financial module,  Reports module

Introduction: 

With this release, we have introduced a report displaying Financial Periods for all of our users. This report was previously available to our customers in China but has now been expanded worldwide. This allows the user to open or close periods from the report, and view from the report if there are any reasons the period cannot be closed (e.g. draft manual journals). 

Pre-conditions: 

Functionality: 

 

Unrealised exchange adjustment and carry forward processes for monthly closing can be turned on or off by going to Settings → Financial Settings. If these processes are turned off, the user can close a financial period via the report without running these processes. 

 

Feature 4: Xero consolidation improvements

Impact area:  

Xero integration, Sales channels

Introduction: 

Currently, DEAR accounts integrated with Xero support consolidating transactions by available eCommerce sales channels instead of processing each invoice/credit note individually. 

All invoices/credit notes with the same date, currency, tax inclusive/exclusive indicator, shop name and sales channel will be consolidated into a single daily invoice/credit note to Xero. The period for consolidation is always one day. This function can be problematic for DEAR merchants who has 1000 of transactions from different sales channels on a daily basis.

With this release, new settings have been added to Xero to give the user more control over consolidation options. Sales can be consolidated daily or monthly, while payments, journals, and money tasks can be consolidated daily, monthly, or not at all. 

Pre-conditions: 

Functionality: 

Rolling out an Application Gateway service which will change the DEAR site IP address to 52.249.203.83

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