Pegasus Software has announced that the upcoming release of Opera 3 (2.23) will provide some automation for customers processing PPD (prompt payment discount). In addition, the releases also include VAT Return improvements, further report output to Excel and other functional enhancements.
PPD – phase 2
The releases will 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 will be 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. 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.
The upcoming release also includes, 5 further reports for output to Excel and VAT improvements: The menu structure will change; VAT reports and VAT processing will be split out. This will allow users to post adjustments directly to the VAT return and run reports without impacting other users in the system.
The release is scheduled for the end of June 2015