Ideation of decentralized accounting platform with an integration of blockchain technology and triple entry giving more power to the users.
First ProtoType of the accounting platform with the desired features is created. A working model of the product built underwent testing process and evaluation.
Architecture, Design and scoping of accounting platform. Specific project objectives were identified and documented. This provided better direction for the team.
Backend and API Development of MVP. The server-side architecture was formed for a stronger database and a user-friendly API was developed for ease of performance.
Frontend Design for MVP was developed for creating modern outlook and building responsive features. A faster, easier and secure application is built.
Unit Testing & Integration Development for MVP. Each isolated module of the software is tested separately as well as the whole system underwent a series of different tests.
System Integration Testing for MVP. Software is tested in an integrated software and hardware environment to verify the proper functioning of the entire system.
User Acceptance Testing for MVP. A beta test will be conducted by the end user to verify the software system before moving into the production stage. The software will be validated against the business requirements.
Non Functional Testing of MVP will be carried out based on performance, usability and reliability. It covers all the aspects that could not be assessed through functional testing.
Soft Launch of MVP Accounting System. The software will be launched to a limited market niche in advance to the full launch. Opens space to advanced level of testing and better cutomer experience.
Public Launch of MVP Accounting System. The complete blockchain integrated accounting software with full fledged features will be launched to the public audience.
Introducing VAT filing and VAT return for directly performing it through SimpleVAT application. Instant invoicing will be enabled where you can send invoices to your customers in a click. Merge receipts and invoices according to the needs. Let’s you view your history of logging activities and role-based accessibility will be ensured for better security.
Activating Automated Bank Transfers and guaranteed Security of the Product. Partial Payment of invoices are incorporated. Avail import transactions templates and credit notes to know sales returns. Bank import transaction disabled. An attachment viewable dashboard will be enabled. Capture industry based COA, e.g. Restaurants, Hospitals.
Initiating Multiple Currencies in bank accounts and Free Trial for users. Keep a count over the products with the Inventory Management. Definite Chart of Account Number, Category Code and Transaction Category will be assigned as per accounting standards.
Integrating Blockchain Technology with SimpleVAT accounting for maintaining an immutable ledger. Adding Payroll component to the application that will take minimize effort on calculating expenses, bonuses etc. An expense scanning module will be fired up to scan invoices and automatically capture expense details.
Integration of PayPal, GooglePay and other payment platforms for easy banking. A cashflow statement will be enabled that explains the cash inflow and outflow. Create Estimates or Quotation and send to your customers instantly. Automated generation of invoices and bills every month.
Auto-Sync with Bank enabled that will automatically import transactions from the bank. Also enabling Timesheet – add timesheet approval workflow and convert approved timesheet to invoices. Project base bookkeeping for users to record transactions on project basis – understand project base profit and loss. Send report data over mail – monthly/weekly/daily.
Initiating Online payment/Internet Banking while invoicing to customer or supplier. A watchlist to be introduced to the SimpleVAT dashboard to view important Chart of Account activities. Also setting of Point of sale to reduce time spent on administration.
Pioneering the phenomenal Triple Entry System to SimpleVAt using hyperledger smart contract. Extending simplevat to other countries like Saudi Arabia, Bahrain, Kuwait and UK. A drag and drop dashboard and comment system will be enabled.