VAT Processing Improvements and other new features in Opera 3 (2.23)
Some productivity improvements have been included in the latest version of Opera 3 (2.23), allowing users to process in areas such as Sales Order Processing and Sales Receipts when other users are running VAT Reports or using the VAT Online functionality.
To achieve this, items such as the VAT Return and VAT Reports which were previously on the Action menu of the VAT Processing form have been separated out into Processing and Reports folders.
A new VAT Return Adjustments form is now available in the VAT Processing folder which allows users to make direct adjustment postings to the VAT files.
Please note: this has an impact on user security so ensure you only give appropriate users access to the new VAT processes.
Other new features included in Opera 3 version 2.23
The releases include the ability to automatically handle VAT reductions that apply where an offer of settlement discount is taken up by a business (where settlement discount is offered to them by a supplier) and a customer (where settlement discount has been offered to that customer by the business).
The Suggested Payment Report and Authorised Cheques and BACS processes have been enhanced to deal with settlement discount VAT adjustments. This will allow users to pay automatically if settlement discount is taken.
Flexibility is built in; users can continue to use credit notes or choose to use VAT adjustments.
Please note: for manual payments and receipts that cater for VAT adjustments, it is the responsibility of the user to confirm the values.
The new processes impact Sales Processing Receipts and Purchase Processing Payment forms. They include new checkboxes and fields. Users not applying settlement discount will not be affected by these changes.
For any customer using Opera 3/Opera II with Pegasus CIS/Operations II where purchase invoices with settlement discount are posted to Opera 3/Opera II from Pegasus CIS/Operations II, credit notes will still have to be used and the invoices paid manually until further notice.
MORE REPORTS CAN BE OUTPUT TO EXCEL
Following feedback from customers, five further reports can be output to Excel for improved reporting:
Sales Ledger – List of Accounts
Purchase Ledger – List of Accounts
Nominal Ledger – List of Accounts
System – Exchange Rates Listing
Stock – Detailed Listing of Stock Records
PURCHASE LEDGER IMPROVEMENTSA VAT Tolerance check has been added to the Purchase Ledger when creating new invoices and creditnotes through Purchasing and PIR Processing. This is to identify transaction lines where the systembelieves that the VAT Amount should be different from that which has been entered.In addition, the total of the payments marked for inclusion in the Print Cheques, PrintCheques/Remittances and Create BACS routines in the Purchase Payment menu is displayed on theform.
PURCHASE LEDGER: HELD INVOICES REPORTThe criteria form for the Held Invoices report in Purchase Reports has been enhanced to allow users toshow only the outstanding balance of any Held Invoices. This applies to both the standard and theExcel report.
CRM ENHANCEMENTSA new form appears on the Action menu of the Company Processing form. The Region, Territory,Customer Type and Warehouse fields have been removed from the General tab main form and are nowavailable on an ‘Analysis’ form. The Cost Centre, Despatch Method and Delivery Route fields arepresent. When creating a new Prospect, the Analysis form is automatically loaded when the record isfirst saved, followed by the Contacts form.
