Blog & Ideas
Our ideas and plans for the future.

Sections

BizFusion Version 2.6

Date: 22-4-2016
Author: S. Ramasray

BizFusion Version 2.6

We released version 2.6 on April 16, 2016.
This version is a major release that contains the Manufacturing Module.
The Manufacturing Module is meant for businesses that sell bundled or assembled products.
A good example is a bicycle builder that sells custom bikes.


The manufacturing module is completely integrated with our inventory and accounting module.
Stock parts are automatically removed from your inventory during assembly and the finished products
are automatically added once assembly is complete.
The stock price of the final goods is automatically calculated based on the price of the used parts.
This removes any accounting headaches for builders/manufacturers.


Manufacturing Jobs
BizFusion loves companies and entrepreneurs that build “stuff”.
We all take for granted how much time and effort went into creating all the things that we use in our
daily lives. Take your bicycle as an example. It took a whole lot of effort from various companies and
people to create that thing.

We always hear stories about how all the manufacturing jobs have been shipped overseas and that no
one builds physical goods anymore here at home. But is that really true?
We actually see a lot of small companies that build stuff here at home. There’s even a little renaissance
going on in the builder community. The success of sites like Etsy.com is proof that small businesses can
still make a good living with creating and selling their own products.

It’s true that the previous version of BizFusion lacked features for manufacturing companies and
builders, but we’ve addressed that in a big way in version 2.6.

Example
Let’s see what our Manufacturing module can do for a bicycle builder in the Netherlands.
Our builder purchases parts from various wholesalers and assembles them into specific models
that he sells on his site. His top selling bike is an inner city bike called: “City Hopper”.

Our bike builder needs to specify what parts are used in a City Hopper bike, so the bike builder first
registers an assembly for this particular bike. An assembly specifies the parts that are needed for a
particular product; it’s basically a blueprint of the final product. You don’t have to specify each and
every nut and bolt that make up the bike; you just need to specify its major components.


Example Bicycle Assembly


An assembly shows the parts that are needed to construct a certain product.
Think of assemblies as blueprints for products. Assemblies are used as input for work orders.



Note that an assembly can also be an assembly of other assemblies.
A wheel consists of the subparts: inner wheel (air tube), outer wheel and wheel frame.
The bike builder could purchase these items separately and assemble them into a wheel, but in this
particular example, the bike builder simply purchases pre-assembled wheels from a wholesaler.

The builder can then use a work order to actually manufacture one or more bikes that match
the assembly.


Work Order
A work order actually creates the products that are defined in the assembly definitions.
The work order takes the assembly as input; removes the needed parts from inventory; and adds the
assembled products back to your inventory. The stock price of the resulting products is automatically
calculated from the used parts, so you don’t have to grab your calculator when assembling
products. It’s all done auto-magically.


Example of a work order


The work order automatically removes the needed parts from your inventory.
The stock price of the assembled products is calculated from the stock prices of the used parts.



Tear Down
You can also disassemble (or tear down) an assembled product into its components/parts.
You also use a work order for this. Simply specify the assembly and choose action: “Tear Down”.
The assembled product is removed from your inventory and the individual parts are added back in.
The stock price of the individual parts is based on the: “Tear down value percentage”.

Undo Assembly via Tear Down
If you assemble a product and then immediately disassemble the product, the stock price of the
separate parts will be different from the price that they had before they were assembled.

Users should realize that the disassemble function is not an undo feature.
The reason for this is clear, the tear down process works with tear down percentages; it never uses the
original part price, because that information was lost during the initial assembly.


Unbundle for Resale
You can also use the tear down process to unbundle purchased goods.
Assume that you sell wine glasses in packs of 12 and 24, but you can only purchase glasses in packs of
100 from your wholesaler.

You need some way to unbundle the box of 100 glasses and then make sales bundles of 12 and 24.
The tear down and assemble features are perfect for this.



First, we need to register an assembly for the box of glasses that we will purchase from the
wholesaler. This assembly specifies that the box consists of a 100 separate wine glasses.



You then purchase a box of glasses from the wholesaler. This adds a single box to your inventory.
But we don’t sell single boxes, so we need to perform a tear down of the box.



This tear down work order disassembles a box of 100 Glasses into a 100 individual glasses.
Your inventory now contains a 100 individual glasses.


We now have a 100 separate glasses in stock, but we only sell sets of 12 and 24.
We therefore need to register sales bundles of 12 and 24 glasses.



This assembly specifies that a sales bundle of 12 consists of 12 separate glasses.
You can then use another work order to create/assemble this sales bundle.




This work order assembles glasses into a sales pack of 12.


Wrap Up
The production module looks deceptively simple, but make no mistake, this is a truly powerful module
that builders and manufacturing companies will love. You can use assemblies to specify the parts that
make up a product and then simply use a work order to create stock items that match those assemblies.
With this module, you never have to manually remove parts during the construction process and all
stock prices are automatically calculated for you.

Have fun building stuff!



BizFusion Version 2.2

Date: 2-7-2014
Author: S. Ramasray

BizFusion Version 2.2

We released version 2.2 on June 29, 2014.

Profit Split Wizard
Imagine the following situation: it's the end of the year and you made a profit!
That's great, but how do you pay yourself this money?

You needed a little bit of accounting knowledge to create a profit payout in the previous version of
BizFusion, and we have always hated that.
That's why we created a 'Profit Split Wizard' that entrepreneurs can use to easily create the journal
entry that is required to pay yourself the profit.

Go to: 'Accounting > Fiscal Year > Profit Split' to start the wizard.


Step 1: Select the fiscal year.
Note that you can only create a profit split for posted fiscal years.




Step 2: Split the profit among the owners/partners of the company.


Step 3: Check the summary and finalize the profit split.



The wizard creates one or more journal entries for the profit split.

Go to: 'Accounting > Custom Voucher' to see the created journal entries.

Example Profit Split


You can now add a payment to the custom voucher to pay yourself the profit.
That's how easy it is to create a profit payout in BizFusion.

Wrap Up
We're always thinking of new ways in which we can make accounting easier.
Our new Profit Split Wizard shows our continued commitment to that goal.
We pride ourselves on the fact that you don't need to know anything about accounting to be an
accounting pro with BizFusion.

Sailesh Ramasray
Founder / Developer BizFusion



Project Management

Date: 15-12-2013
Author: S. Ramasray

Project Management

We released our project management module on December 2, 2013.
The project module is part of BizFusion version 1.9.0.


We have finally released our project management module!
Freelancers, contractors and other professionals will love the financial insight that this module
provides. You can easily track the profitability of running projects and you can also use this module to
see the profitability of past projects. This information is invaluable when you’re bidding on new
projects.

Example Project


Project Module
You can now register your projects in BizFusion.
Each project contains an estimated income, expense and profit.
You can easily see what the difference is between your actual and estimated profit once you start
linking invoices and expenses. This gives you tremendous insight into the profitability of your
projects.

The project module is part of the “My Company” module.
Go to “(Module) My Company > (Menu) Project > Project” to start creating your projects.

You need to explicitly enable the project management features before you can link invoices and
expenses to your newly created project. Why did we do that? Well, not every BizFusion user needs
the project management features that are in version 1.9.0. We prevent interface “clutter” by
removing interface elements that only a few users use. That´s why you need to explicitly enable this
option before you can link invoices and expenses to project items.

Go to “(Module) Financial > (Menu) Setup > Accounting Options” to enable the project
options in the rest of the BizFusion interface.

You can then link to projects in the “sales invoice”, “purchase invoice”, “income voucher” and
“expense voucher” pages. Each of these pages contains a little dropdown box where you can select a
project. The linked items show up on the income or expenses tab of your project.

Project Type
You can categorize your projects by assigning them a project type.
Let’s say that you’re running a marketing agency. As an agency, you’re doing different types of
projects. One week you could be running a Twitter promotion, and the following week you could be
writing content for a web site. These are very different projects and they have different profitability
levels. You can register each of these project types in BizFusion. You can then assign a type to a
project. This enables you to easily compare similar projects later on.

Go to “(Module) My Company > (Menu) Project > Project Type” to register your
project types.

Budget Tracking
Many freelancers and contractors work with third parties. We often need to hire external
professionals to complete a certain project. This is especially true for contractors in the construction
business. That’s why correct budgeting is extremely important. Let’s say that you predict that a
project will cost you 2000 euro in expenses, but once you start linking expenses to your project, you
realize that the project actually cost you 2500 euro. Estimating project costs is extremely difficult,
because not every project is the same. When you keep track of your projects in BizFusion,
you build a knowledge base around the profitability of certain project types. You can use this
information to create better estimates/quotes for your clients.

Wrap Up
The project module provides excellent insight into the performance of projects and similar past
projects. You can use past project results as an indicator of future project success. Your previous
project data will also help you create better quotes for your clients. That’s why we’re sure that
freelancers, contractors and other professionals will love our project management module.

Sailesh Ramasray
Founder / Developer BizFusion





Older Posts           Archive