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Software: Opera 3 Financials

 

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.


  • Overview

    The applications within Opera 3 Financials are:

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

    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.

    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

    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.

    Sales Ledger

    The Sales Ledger has built-in credit control facilities so that customer account information is all at your fingertips. And it makes revenue forecasting easy with the automatic calculation of average debtor days for both individual customers and your entire company.

    You can e-mail statements, copy invoices and debtors letters. You can view your sales information in a way that is meaningful to you, as Opera 3 offers Views that you can customise. And of course, it caters for multi-currency and handles all your customer profiles and trading terms, as well as invoices, credit notes, receipts, refunds and adjustments.

    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.

    >Watch the Retrospective reporting video demo

    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.

  • Nominal Ledger

    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

    Cashbook

    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

    Sales Ledger

    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 re-direct 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

    Purchase Ledger

    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

    Costing

    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

  • Opera 3 Payroll & HR

    Opera 3 Payroll & HR is an award-winning payroll solution trusted by thousands of UK companies. It has HMRC Recognition and includes features such as email payslips & P60s, salary sacrifice and integration with selected pension providers to actively help you in your day-to-day tasks.

    Payroll 2017

    A video overview of Opera 3 Payroll showing how to carry out the 2016/17 year end and the setup required to process your payroll in the 2017/18 tax year.


Downloads Available

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