Product Updates

Wafeq's New Product Features [Jan-2023]

Last updated Thursday, January 26, 2023
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We at Wafeq believe that our customer feedback and requests are essential factors in moving forward. That's why we keep enhancing our product and adding features that streamline your experience and help run your business better.

Fixed amount discount

You asked, and we listened. You can now add a fixed amount discount to the total amount of an invoice. Additionally, if the discount is subject to VAT, you can choose the tax rate that should be applied to the discount.

You can also add fixed-amount discounts on quotes. When you convert a quote to an invoice, the discount will be copied over.

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Step-by-step guide here

Recording a customer advance/supplier advance

Creating a customer advance or supplier advance just got even easier. Wafeq will now automatically create a credit note for the customer or supplier, which you can apply on future invoices.

This feature is practical when you ask your customer to make a partial advance payment for a service you will complete later.

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To know how in detail read our help article here: Recording a customer advance or downpayment.

Paying multiple invoices/bills/payslips in bulk

Gone are the days of making multiple payments for individual invoices. You can now easily pay multiple invoices, bills, or payslips in a single payment using our new Invoices payment option in our customer payments flow.

This feature saves you time and makes your accounting process more efficient.

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Our help article here: Paying multiple invoices with one payment.

New Reports under Profit and Loss

Tracking your business profitability just got even easier. We have added three new reports: "Profit and Loss by cost center," "Profit and Loss by project," and "Profit and Loss by branch." With these reports, you can track your profitability by cost center, project, or even branch in your organization.

This feature gives you a better understanding of your financial performance and helps you make better business decisions.

New P&L reports

We are excited for you to try out these new features and see how they can improve your accounting process. As always, if you have any questions or feedback, please let us know.