Double-Entry Accounting Module

[Chance]

Hello WHMCS Forum Members...

 

We have seen this question asked before, and even discussed. However we have not yet seen a complete solution.

Many have mentioned how cumbersome and tedious the task would be but we have actually taken on the challenge and succeeded.

We have authored a full-fledged accounting WHMCS add-on module that our own company has used for several years now.

It began as a tool that helped us better track income/expenses in WHMCS and over the past several years has metamorphosed into so much more.

It is a very robust accounting system that is functionally comparable to other popular accounting software like QuickBooks and Peachtree.

The primary difference being we no longer need QuickBooks because our Accounting module does all accounting for us and our CPA.

 

We would like to know how many WHMCS users would be interested in us bringing this add-on the WHMCS marketplace?

 

All input is welcome...

[Daniel]

Very interested.

 

Does it support multi-currency?

[Chance]

Hi Daniel,

 

Thank you for your interest! While the accounting module is multi-language, the add-on is in USD currency only. This is because it has been used by us exclusively and our currency has always been USD. If the module generates enough potential sales and interest in adding multi-currency, we would certainly explore the option of adding it.

[AffordableDomainsCanada]

Please tell us more about this robust account system..

 

Can you input expenses? Are there reports that can be generated?

 

You just basically told us you have this amazing module but really didnt go into details on what it all does!!

[Chance]

Hi Jason,

 

Appreciate the input and questions. Due to the extensive functionality of the module, we felt it impractical to list all of its features in a single post, which is why we kept the original post very brief. We felt it better to post a brief inquiry as we did to see what type of response and interest it generated and then respond to the questions and input. This way we are able to focus on what is most important to those interested and not talk about features that others may not need or find that much interest in.

 

In answer to your specific questions, yes expenses can be input. Expenses are recorded against standard cash accounts (banks, credit cards, credit lines, accounts payable, etc.) and the offsetting entries are recorded against expense accounts that are optionally tagged to clients. Those expenses are tracked against the cash account, each related expense account, as well as each client. And those expenses, if billable to a client, are still recorded as Billable Items within the core WHMCS system. In fact, the module adds a ton of functionality without compromising how WHMCS functions.

 

The module offers very detailed reporting that allows one to see exactly where money is being expensed and what the return in sales on those expenses are. The module includes Profit & Loss reports, Sales by Vendor reports, Income by Client reports, Sales by Item reports, and a host of many others. [EDIT: For those reports that WHMCS offers a similar, the module greatly extends the data shown in the reports.]

 

This is a full-fledged double-entry accounting system that offers many features that are sure to enhance WHMCS for a lot of companies. Thanks again for replying.

Edited July 26, 2017 by Chance

[hostingct]

Did you make this system available or are you still just using it for your own expenses/accounting? I'm looking for a solution now to get rid of Quickbooks and have found very little.

1. Easy WHMCS Expenses module
https://www.easywhmcs.com/addons/expenses
$10/mo or $53 to buy (7.4 pounds or 40 pounds)
- some bad reviews

2. WHMCS Tech Expense Manager
https://www.whmcstech.com/whmcs-tech-expense-manager.html
$19/mo or $79 to buy

3. Expenses Tracker 
https://marketplace.whmcs.com/product/3645
only one review - it's negative
$50 but it has not been updated since July 2017 as far as I can tell.

 

[Chance]

Hi hostingct,

Thanks again for your interest.  Please see our response to your message yesterday regarding this as we would very much like to make it public....

https://whmcs.community/messenger/74115/?tab=comments#comment-80244

[hostingct]

Sure, I'd be happy to assist with beta testing. Though I was really looking mainly for an expense / report module rather than a full double-entry system. Sounds like you've put in a lot of work already and are trying to make this the go-to accounting addon for WHMCS, which is sorely needed.

Paula

 

[bendrop]

Another interested party here 😊

[Chance]

@hostingct - that is exactly why we set out to create this accounting add-on as the native methods WHMCS uses to track income/expenses/credits is not according to standard accounting practice.  So as we began to develop a better solution for this, we realized it was very difficult to do without the double-entry system.  I could go into much greater detail and outline all things we felt were lacking but our intent is not to bash something but to make it better.  To properly record and track expenses/income/credits required common accounting building blocks, like accounts to record against, line item quantities, better sales tax rule/agency handling, ability to offer tangible item sales rather than just services, and tie it ALL into the native WHMCS system.  At that time, having been forced to form the building blocks, we decided to go all out and create a full-fledged quickbooks-style accounting system.  So yes, it does track expenses very well and if you were to use the add-on, you would have to spend some time tweaking your accounting settings to fit your business, and the activation process would require some database processing, but it would definitely be worth your time!  :0)  If you'd like, PM us and we can send you just a couple of screenshots of expense tracking interfaces and reports it can generate.

@bendrop - thank you for the interest as well!  We hope to build a large user-base with this add-on and are very excited to see some interest. So thank you!! You too, are invited to PM us as well!

[debodie]

Also very interested in your module!

[monsterit]

I'm interested sent you a message.