Here's what we've been working on to make Paragon^ERP work better for you.

Keep track of your inventory costs

Inventory valuation has always been tricky for business owners and ERPs. Paragon now has an inventory valuation tool that allows you to keep track of your costs with either the FIFO or LIFO methodologies.

There are many different types of costs incurred when purchasing and receiving products. All of these costs, like duty, freight and insurance, along with your inventory valuation method determine how much your inventory is worth. This, in turn, determines your profit margin when the goods are sold.

Paragon now allows you to keep track of these costs on a very granular level. What does this mean? Well, here's a breakdown:

• When you create a receipt, the costs of the receipt are recorded in the inventory history of each product.
• As you receive more and more goods at different prices, these historical costs are added to the inventory file. All of these costs are used to calculate a weighted average cost, which you can see at any time on the product itself.
• When you ship out your item, based on your costing method of FIFO or LIFO, your cost of sale is automatically calculated. Further, the correctly costed units are removed from inventory in the correct order allowing you to have a detailed trail of your daily operations.

With this costing functionality, you can actually see what your profit margins are per product, per sale.

Separate inventory receipts and shipments in the GL

There are different business transactions that affect your GL. When you create a receipt or shipment, different financial accounts are affected. This means that when you receive inventory, the journal entry is likely different than when you ship inventory.

With Paragon, you can actually choose what GL accounts are touched by any part of a transaction. On a shipment you might want to record your cost of sale and on a receipt you might want to record an asset account or liability. Depending on how you operate, you can decide exactly how you want to set up your accounts in Paragon.

This change will allow you to create inventory holding accounts or accrued liabilities to keep control of inventory received and not invoiced, or inventory invoiced but not received.

Attach external files to transactions and references inside Paragon

Sometimes there are external documents that are directly related to a transaction or reference in Paragon. For example, you might have very specific cutting instructions or style sheets that need to be referenced when completing a bill of materials. Now you can attach the external document to any transaction or reference inside Paragon. The best part? You can keep your documents stored externally and simply reference them in Paragon using a URL. This means that you'll never run out of space and don't need to manage multiple versions of the same document.

Easier to create a journal entry

We have redesigned the journal entry page, which makes it easier to create journal entries on the fly.

Updated security policy

We think you should know about the efforts we take to keep your data safe and secure. So here is our updated security policy.

Bugs

Here's a list of pesky bugs we squashed with this update:

• Once a business term was set on a transaction, you didn't have the option to set it back to empty on screen setup
• Couldn't reset password for valid username
• Importing and exporting codes, transaction lines and tax/discount/other charges with the universal translator didn't work
• Creating a receipt off a work order didn't post a transaction to the journal
• Importing excel sheet for bank reconciliation didn't work
• Line notes were not transferring from sales order to purchase order
• Login message for a deactivated account was inaccurate
• Quote line attributes did not show if set to 'always show'
• Action button was shown in GL setup
• Rebuild defining fields did not work until edit/save or re-login