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Opera 3 Financials

Manage your cashflow effectively

With Average Debtors Day calculation per customer, Opera 3 helps you manage aged debt, for a realistic revenue forecast.

Financials are the core to any business, whatever its size. With Opera 3 you can continually track your revenue and when it is due. Equally important, it reminds you who you owe money to and when it has to be paid. You’ll find the visibility of your cash flow invaluable for your profit generation. What’s more, reports from the Financials can be output directly to MS Excel.

The Retrospective Debtors report in the Sales Ledger produces a list of outstanding customer debts as at a date specified, aged according to the length of time the debt has been outstanding. For example, to rerun your Debtors report at 31 December 2010, you simply enter that date and the report calculates the debtors position at that time. The report can be printed and output to Excel.

What's Included?

The applications within Opera 3 Financials are:

  • Sales
  • Credit Management Centre 
  • Purchase
  • Nominal
  • Multi Currency
  • Cashbook
  • Costing
  • EC VAT
  • Fixed Assets

Sales Ledger

Nominal Ledger includes analysis of Account, Type, Sub-type, Cost Centre plus two further user-definable levels as standard, giving you access and in-depth analysis at transaction level for the past 9 years.

Get management information and reports from Financials, Supply Chain and Payroll & HR. You can apply budgets at all four analysis levels, for current or future periods and years, with full percentage variance analysis and reporting. You can even easily change your year start date and maintain your data integrity.

The Nominal Ledger offers the Open Period Accounting functionality. Transactions can easily be posted from other applications such as Sales, Purchase, Cashbook, and Payroll into any open period of the last, current or next 3 financial years. Other applications post to the Nominal Ledger by either batch update or real-time transfer. Even mis-posted nominal journal entries can be reversed and rectified quickly and accurately.

Cashbook

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

” Cashbook for us has been a real game changer; it saves us an enormous amount of money and also means that we as a business can manage our risk ” Guy Atkins, Managing Director, Jo Bird

Costing

With Opera 3 Costing you can track job costs and revenues against budgets, and you can break down costs against a variety of categories including Labour, Contractor, Direct Expense, Stock and Interim Billing. Group jobs under contract headings or post against option phase, and stay easily in control. Any Timesheets raised for work on jobs can easily be transferred into Payroll to update employee records.

Multi Currency

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

“As Ibonhart trades internationally, multi currency within Opera 3 is quite an important function for us as it allows us to reconcile on a daily basis with the up-do-date exchange rates” Sheila Austin, Accounts and Payroll Manager

Fixed Assets

Keep track of your assets from the minute they become part of your company right until you dispose of them. Opera 3 Fixed Assets will track their depreciation rates and maintain the correct net book value for them 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. 

Purchase Ledger

With Opera 3, all your supplier transactions are thoroughly and securely managed from start to finish. Your cash flow is automated and improved with comprehensive cheque and BACS payment routines, e-mail remittances (individual or batched), and the calculation of creditor days.

It gives you dynamic access to purchase information across multiple periods and you can view the information you need in the manner you choose.

The integrated Purchase Invoice Register allows invoices and credit notes to be posted and remain in the register until they are authorised, giving you greater control over every document received. Payment workflow is enhanced though BACS and cheque payment routines combined with e-mail remittance. What’s more, with back-to-back processing to the Fixed Assets application, you can create an Asset record when posting an invoice to save re-keying information.

The Retrospective Creditors report in the Purchase Ledger produces a list of outstanding supplier debts as at a date specified, aged according to the length of time the debt has been outstanding. The report can be printed and output to Excel.

Nominal Ledger

Nominal Ledger includes analysis of Account, Type, Sub-type, Cost Centre plus two further user-definable levels as standard, giving you access and in-depth analysis at transaction level for the past 9 years.

Get management information and reports from Financials, Supply Chain and Payroll & HR. You can apply budgets at all four analysis levels, for current or future periods and years, with full percentage variance analysis and reporting. You can even easily change your year start date and maintain your data integrity.

The Nominal Ledger offers the Open Period Accounting functionality. Transactions can easily be posted from other applications such as Sales, Purchase, Cashbook, and Payroll into any open period of the last, current or next 3 financial years. Other applications post to the Nominal Ledger by either batch update or real-time transfer. Even mis-posted nominal journal entries can be reversed and rectified quickly and accurately.

EC VAT

If you trade within the European Union there are complex VAT rules you have to comply with regarding the importing and exporting of goods. These rules can be hard to follow and failure to comply can result in financial penalties. To help you, these complex rules are automatically built into Opera 3 EC VAT to make it easier for you to trade in Europe.

You can define and maintain the information to produce the EC Sales List (ESL) and Supplementary Declarations (SD), including country codes, modes of transport, terms of delivery, commodity codes and nature of transaction codes for Intrastat purposes. The EC Sales List can also generate an XML upload file for submission via the HMRC website.

If you are using foreign currency accounts, appropriate VAT rate codes for EC sales and purchases can also be set up. This application will then collect the information needed to produce the returns for trading with EU member countries.

Features

Flexible Chart of Accounts: Account, Type, Sub Type, Cost Centre, Department and Project

Financial Calendar: Define up to 24 periods

Rebuild Periods: Allows period balances to be re-calculated if the Financial Calendar is adjusted during the fiscal year

Dimensional Analysis: Cost Centre, Department* and Project* analysis

Group Analysis: Group together Nominal accounts for additional reporting and analysis
Journals Reversing, Recurring, Retained (Skeleton) and VAT journals

Open Period Accounting: Transactions can be easily posted from other applications such as Sales, Purchase, Cashbook, and Payroll into any open period of the current or next 3 financial years. Nominal Journals can be raised to the previous year.

Budgeting: Budgeting at Account, Cost Centre, Department and Project level with import facilities from Microsoft Excel using Pegasus XRL

Private Nominal Accounts: Account details can be restricted to users who have had additional security applied

Real-time or Batch Update Update: Nominal accounts in real time or batch update from source ledgers

Distribution Accounts: Transactions posted to distribution accounts are automatically distributed to cost centres based on defined percentages

Multi-Currency: Nominal accounts can hold both base and currency period to date, year to date and previous year values

Revaluation: Currency bank balances can be re-valued at any time based on current exchange rates

Transaction History: Retain transactions and journal images for up to nine years

User Definable Views*: Define financial management Views with up to six levels of analysis, apply criteria filtering and graphical representation. Report across fiscal years and periods with transactional drilldown and easy export facilities to Microsoft Excel

Transactional Drilldown: Drilldown through user definable Views or Nominal accounts to period values, transactions and source documents

Financial Reporting: An extensive range of reports are provided as standard including the ability to define your own management reports (Profit & Loss and Balance Sheet)

Consolidation: Multi-company account consolidation providing group reporting facilities with the ability to consolidate ledgers with different operating currencies

Excel Integration: Information can easily be extracted from Opera 3 into Microsoft Excel with Pegasus XRL

Customisable: The Nominal Ledger can be customised to suit the specific requirements of your business

Context sensitive Help: Comprehensive and easy to use Help facilities

Receipts and Payments: Can be processed in the Cashbook, Sales or Purchase Ledgers

Batch Processing: Batches of Receipts or Payments can be posted together in a single transaction 

Cashbook Types: Allows the creation of multiple Cashbook types for Receipts, Payments and Transfers to match how transactions will appear on bank statements

Recurring Entries: Set up direct debit and standing order entries on a monthly, quarterly or user definable basis

Bank Reconciliation: Includes transactional drilldown, ledger postings, the ability to save a partially completed bank reconciliation and the ability to produce the bank reconciliation listing as per the bank statement

Bank Transfers: Transfer funds from one account to another

BACS and e-Banking: Allows payments to be processed via BACS and banking software

Multi-Currency: Create home and currency bank accounts

Petty Cash: Create any number of Petty Cash accounts

Cheque & Remittance Advice: Allows combined cheque and remittance advice production, to suit your company stationery

Matching: Easily match and remove any incorrectly posted transactions which will never appear on the Bank Statement

Opening Balances: Individual account set-up is simplified with the Opening Balances routine

Transaction History: Reconciled transactions can be retained for up to 99 periods

Comprehensive Reporting: An extensive range of reports are provided as standard

Account View: Provides reconciled and un-reconciled information, statement number and date range selection, transaction detail, statement line number and paying in slip reference

Excel Integration: Information can easily be extracted from Opera 3 into Microsoft Excel with Pegasus XRL

Customisable: The Cashbook can be customised to suit the specific requirements of your business

Context Sensitive Help: Comprehensive and easy to use Help facilities

Trade in Multiple Currencies: Process transactions in any currency, with values recorded in the base and customers operating currency

Delivery and Head Office: Unlimited delivery accounts with the ability to redirect invoices and statements to Head Office 

Trading Terms: Define trading terms for an individual or a range of customers (eg payment terms, settlement discount and credit limit)

Credit Control: Includes statement production, debtor letters, provision for bad debts, customer debtor days, statistical debtor analysis, customer notes and the ability to place customer accounts on stop

E-mail Integration: Produce customer e-mails, statements and copy invoices, automatically generating a customer note for audit and reporting purposes

Multiple Contacts: Unlimited contacts and the ability to apply up to six attributes against each contact, ideal for marketing campaigns and targeted mailings

Disputed Invoice Analysis: Assign user definable reason codes against disputed invoices, with reporting facilities to highlight any trends and automatic customer note generation

Statistical Debtor Analysis: Includes average debtor days, turnover and Sales analysis for up to 99 periods

Customer Notes: Assign notes to customer records as a reminder or a task for others, with full e-mail integration

Dormant Accounts: Exclude any dormant accounts from Sales processing, searches and reports

Transaction History: Retain transactions for up to 99 periods

Attachments: Attach multiple files (eg spreadsheet, Word document) to a customer account

User Definable Views: Define Sales Views with up to six levels of analysis, apply criteria filtering and graphical representation. Report across Sales periods with full transactional drilldown and easy export facilities to Microsoft Excel or Word

Transactional Drilldown: Drilldown through user definable Views or sales accounts to transactions and source documents

Comprehensive Reporting: An extensive range of reports are provided as standard

Excel Integration: Information can easily be extracted from Opera 3 into Microsoft Excel with Pegasus XRL

Customisable: The Sales Ledger can be customised to suit the specific requirements of your business

Context Sensitive Help: Comprehensive and easy to use Help facilities

Trade in Multiple Currencies: Process transactions in any currency with values recorded in both the base and suppliers operating currency

Ledger Account: Specify an alternative ledger account to receive payments for this supplier eg a factoring house

Trading Terms: Define individual terms or profiles to attach to supplier accounts, including settlement discount rates and supplier payment terms

Suggested and Automatic Payments: Methodical payment routines that allow the progression of payments for suppliers from suggested payments to authorisation and through to generation of cheque and BACS payments

Cheque & Remittance Advice: Flexible design allows the generation of a combined or individual cheque and remittance advice, to suit your company stationery

E-mail Integration: Send an email directly from the supplier account using contact information. This will automatically generate a supplier note for audit and reporting purposes

Purchase Invoice Register (PIR): Use PIR to record Purchase Invoices and Credit Notes. Once authorised the transactions can then be posted to the Purchase Ledger to update the accounts and the Purchase analysis files

Held Invoice Analysis: Assign user definable reason codes against disputed Invoices, with reporting facilities to highlight any trends and automatic supplier note generation

Multiple Contacts: Unlimited contacts and the ability to apply up to six attributes against each contact

Dormant Accounts: Exclude any dormant accounts from Purchase processing, searches and reports

Attachments: Attach multiple files (eg spreadsheet, Word document) to a supplier account

Transaction History: Retain transactions for up to 99 periods

User Definable Views: Define Purchase Views with up to six levels of analysis, apply criteria filtering and graphical representation. Report across periods with full transactional drilldown and easy export facilities to Microsoft Excel or Word

Transactional Drilldown: Drilldown through user definable Views or Purchase accounts to transactions and analysis

Comprehensive Reporting: An extensive range of reports are provided as standard

Excel Integration: Information can easily be extracted from Opera 3 into Microsoft Excel with Pegasus XRL

Customisable: The Purchase Ledger can be customised to suit the specific requirements of your business

Context Sensitive Help: Comprehensive and easy to use Help facilities

Contracts, Jobs and Phases: This flexible structure provides extensive control, monitoring and reporting of Contracts, Jobs and Phases

Estimates: Full Estimate processing with budget forecast and Quote production facility. A Job can be created from an Estimate without the need to re-key the information and an Estimate can be used more than once

Cost Types: Use an extensive range of Cost and Revenue cost types including: Direct and Recharge Expense, Labour, Contractor, Stock, Retention, Interim & Final Billing, Overhead and Retention

Cost Code Analysis: Create unlimited Cost Codes, linked to Cost Types, to give unlimited analysis of cost and revenue transactions, overheads and budget comparison

Cost Rates: Allows up to 999 Cost Rates to be used at Contract or Job level. If a change of rate is required this can be applied at transaction level, applying the appropriate cost from the Cost Code
Budgets Actual and revised budgeting facilities

Revenue: Revenue postings created in Costing can generate detailed Documents in Invoicing or SOP. Choose to Invoice by individual Cost lines, Frameworks, Cost Types or a direct value

Integration: Real-time integration with Opera 3 Financials, Supply Chain Management and Payroll & HR means transactions are only required to be processed once
Batch Processing: Use Batch Processing to enter batches of Timesheets or Costs for a range of Jobs in one efficient process

Payroll Transfer: Employee Timesheets processed in Costing can easily be transferred to Payroll, saving the need to re-enter the information

Frameworks: Group associated Cost Codes and apply to Jobs and Estimates to simplify the budget process

Department Analysis: Add further analysis by introducing an optional Department code against Jobs and Estimates
Transactional Drilldown Detailed, multi-level transactional drilldown at Contract and Job level

User Definable Views: Define Costing Views with up to six levels of analysis, apply criteria filtering and graphical representation. Report across periods with full transactional drilldown and easy export facilities to Microsoft Excel

Global Cost Codes: Provides the ability to perform a global update of Cost Codes, including the option to increase any overhead values
Comprehensive Reporting An extensive range of reports are provided as standard

Excel integration: Information can easily be extracted from Opera 3 into Microsoft Excel with Pegasus XRL

Customisable: Costing can be customised to suit the specific requirements of your business

Context Sensitive Help: Comprehensive and easy to use Help facilities

TMB Privacy Policy

Why do we hold personal data?

Like any business, TMB Group has to keep personal data about staff, clients and potential customers. When you fill in the contact form on our website, for example, we need to keep a record so we can get back to you. Data is also held so we can deliver our services and so we can provide useful information, such as security update news.

What data do we keep?
Depending on our relationship with you, we’ll hold information such as your first and last names, your email address, your phone number and your postal address. We will also possibly have details about your business and those who work for you. If you’re a customer, then we may have some of your banking detail so we’re able to accept payments for the services we provide.

How is your data stored?

As a responsible IT company, TMB stores personal data on secured computer systems. Anything that is archived will be placed on encrypted drives.

We do use third-party customer management software, Autotask, which means data may be stored on their servers, but only the data we need to deliver our services. The same goes for the Microsoft services we use, such as Word, Excel and PowerPoint, which store information on Microsoft’s cloud servers. We also use Mailchimp for marketing purposes: to send emails and to manage subscriber lists.

These third parties are not permitted to share your data or to use it for marketing purposes. You can find Autotask’s privacy policy here: https://www.autotask.com/privacy-policy. Microsoft’s privacy policy for Office 365 is here: https://www.microsoft.com/online/legal/v2/?docid=43. Mailchimp’s policy is here: https://mailchimp.com/legal/privacy.

How long do we keep your data?

We will keep your data in our systems until it is no longer relevant to our business, but you can request that we remove or update it at any time. We will also inform any relevant third parties of your request.

Access to your information

The key thing to remember is that your data belongs to you. That means you can request copies of your personal data any time you like, or to access and update it. You also have the right to be forgotten, so if you ask that we delete your data, we will do so or provide a valid reason why we are unable to. We will, of course, require proof of your identity before addressing any such request.

Depending on your request, your information may be provided to you electronically. In such cases, it will be provided in a commonly used format.

Unsubscribing and deletion

Unsubscribing is not the same as a request for us to delete personal data. If, for example, you unsubscribe from a mailing list, it is necessary to keep your email address on record to prevent marketing email from being sent to you. If we were to delete that information, we would have no way to tell if you have unsubscribed. Nevertheless, you still have the right to request erasure of your personal data.

Your right to complain

If, for any reason, you are unhappy with the way your personal data is treated by us, you have the right to complain to a supervisory authority. In the UK, that would be the Information Commissioner’s Office (ICO).

Website analytics

Anyone who visits our website will automatically have data about them collected via Google Analytics. This gives us broad information about what people are doing on our website and which pages they are looking at. It does not provide us with personal information that could be used to identify individuals.

Cookies

Cookies are small text files that web browsers receive from websites. They are stored on your computer, and they enable sites to do things like remember if you’ve visited before, if you’re a customer, what your preferences are and so on. You are entitled to view our website without them, but you may lose this kind of functionality if you do so.

International data transfers

Information that we collect may be stored and processed in and transferred between any of the countries in which we operate in order to enable us to use the information in accordance with this privacy policy.

Data controllers and processors

TMB is the controller for marketing activity and personal data/special category data we hold on our own employees, but we are the processor when processing our customers’ personal data (e.g. buying a licence for a named individual).  We  may use sub-processors for processing data given to us by customers.

What we won’t ever do is sell your data. And if you sign up to our mailing list, you’ll only receive marketing material from TMB as a result – no one else.

For any questions regarding your data, contact TMB’s technical director, Richard Shuker, at info@tmb.co.uk or write to us at A1 Endeavour Business Park, Penner Road, Havant, Hampshire, PO9 1QN..