I downloaded ERPNext VM sometime back and able to use on my machine. However, somehow suddenly I am unable to access the application. The VM is running is perfect 100% however i cannot access application from my browser http://localhost:8080 (host machine). I am using Windows 7.
The issue is the IP number you are accessing it with.
http://localhost:8080 is used if you are accessing the app from within the VM http://192.168.x.x:8080 is used if you are accessing the app from the host browser or another machine.
In your VM terminal check and see what the IP is and use that to access the app.
Follow these instructions if you still have problems.