Pegasus Opera 3 Financials

Pegasus Opera 3 Financials

Strong financial management is at the heart of any successful business. Opera 3 Financials is at the core of the Opera system and enables you to track all revenue generated by the business and money owed. This visibility of cash flow is invaluable for your profit generation.

Opera 3 Financials integrates with the rest of Opera 3 so financial data can be accessed by other applications. It consists of the core Sales, Purchase and Nominal ledgers, as well as additional functionality to manage cash payments, handle multi-currency and make online VAT100 submissions.

Pegasus Opera 3 Financials

Making Tax Digital

In April 2019, the way you submit your quarterly VAT returns will change. Digital record-keeping is now top of the agenda and will require your accounting software to compile and submit the VAT return. Manual returns will no longer be allowed. This scheme is called Making Tax Digital(MTD) and will affect all businesses over the £85,000 VAT threshold.

The good news is that Pegasus Opera 3 will be compliant with Making Tax Digital. With built-in HMRC integration, your quarterly returns will be taken care of seamlessly. The MTD module for Opera 3 is expected for release in early 2019. In the meantime, we recommend familiarising yourself with Opera 3’s current functionality of VAT 100 submissions as these are likely to be a core component of MTD.

For more technical details, read our guide on the Functional Changes to Opera 3 for MTD Compliance.

If you have any questions regarding Making Tax Digital and submitting your VAT returns online, please get in touch.

Key features of Pegasus Opera 3 Financials

Sales Ledger

With the Opera 3 Sales Ledger, you can customise your sales information by creating personalised views and incorporate all your customer profiles, trading terms, invoices, credit notes, receipts, refunds and adjustments. You can e-mail statements, invoice copies and debtors’ letters, and report on Aged Debtors now or as at any date in the past. It also simplifies revenue forecasting with automatic calculation of average debtor days for both individual customers and your entire company.

Purchase Ledger

With Opera 3, all your supplier transactions are securely managed from start to finish. Your cashflow is automated and improved with comprehensive cheque and BACS payment routines, email remittances (individual or batched), and the calculation of average creditor days. It gives you access to purchase information across multiple periods and allows you to report on Aged Creditors, now or as at any date in the past.

Cashbook

With Cashbook you can post transactions directly from Financials or within Cashbook. The reconciliation function allows you to post unexpected entries, interrogate transactions and save incomplete reconciliations so you can finish them later.

Costing

With Opera 3 Costing you can track job costs and revenues against budgets, and break down costs against a variety of categories including Labour, Contractor, Direct Expense, Stock and Interim Billing. Cost codes provide further summary level analysis, before drilling down to transactions in detail.

Fixed Assets

Keep track of your assets from the minute they become part of your company until you dispose of them. Opera 3 Fixed Assets will track their depreciation rates and maintain their correct net book value throughout their life cycle. It caters for all types of assets, including Finance or Operating Lease and Hire Purchase or Lease Purchase assets. What’s more, the Import routine makes it simple to import existing asset lists from a spreadsheet in bulk.

 

Credit Management Centre

Reduce customer debts and improve cashflow with the Credit Management Centre. It integrates with the Sales Ledger and provides a series of key dashboard views for effective credit control. In addition, the Debt Management feature allows you to manage customer debt and build sophisticated and flexible debt correspondence into credit control procedures. You can create up to nine levels of debtor letters and e-mail covers, which can be e-mailed or posted.

Nominal Ledger

The Nominal Ledger includes analysis of Account, Type, Sub-type and Cost Centre plus two further user-definable levels as standard, giving you in-depth access at transaction level for the past 9 years. You can apply budgets at four analysis levels, for current or future periods and years, with full percentage variance analysis and reporting. Open Period Accounting offers a financial calendar where you can define up to 5 financial years with up to 24 periods in each.

Multi Currency

Opera 3 handles unlimited currencies, exchange rates per transaction type and the calculation and recording of exchange rate fluctuations.

EC VAT

Opera 3 helps define and maintain the information you need to produce EC Sales Lists (ESL) and Supplementary Declarations (SD). The EC Sales List report generates an XML upload file for submission via the HMRC website. If you are using foreign currency accounts, Opera 3 can generate the appropriate VAT rate codes for EC sales and purchases. EC VAT will then collect the information needed to produce the returns for trading with EU member countries.

VAT 100 Online Filing

The Opera 3 Online Filing Manager supports the online submission of the VAT100 Return and is recognised by HMRC, helping you to submit your VAT 100 Return quickly, securely and accurately.

 

Testimonials

Josie Sullivan Leroy Reid & Co

Very helpful in supplying the system required with very little down time. Personable and professional in guiding us along the right path. Nothing is too much for them.

David Halloway Southern Testing

Support with a sense of fun!

Carmel Clarke Kingswood Controls

Professional and extremely helpful. PCR will go above and beyond to resolve any IT problems that you may have.

Max Somper Metamark

PCR are very much on the same page as ourselves. They're very flexible, pragmatic about response, efficient, and they've always been the best choice for us as a business.

Keith Faulkner Brainwaves Books

Over the years, I've seen PCR grow and develop, but their attitude and customer service has never altered. The quality of their service remains constant.

Alex Arscott Richard Russell Panels

A good honest company we've dealt with since the year dot.

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