September, 2024
- Release: 790 Check my version
Billing Schedule
Our new Billing Schedule feature enables advanced billing and income recognition directly from a Sales Order within iplicit.
Automatic generation of Billing Schedules and Sales Invoices.
Invoicing of deposits against the order.
Automatic recognition of income which can be different to the period and frequency of Invoicing.
Automatic creation of Project records for approved Sales Orders.
A new type of Sales Order has been introduced that automatically creates a billing schedule for Sales Invoicing. Billing frequencies are set at the Sale Order line-item level, generating a billing schedule for the entire order. This schedule can be viewed and managed directly from the order, including the option to "pause" billing for specific items. Sales Invoices are generated automatically from the schedule and are linked back to the original Sales Order. Deposits can be added and invoiced directly from the Order. Income for the order is automatically allocated and recognised across accounting periods that may differ from the billing frequency.
This feature is available for an additional charge. If you're interested or want to learn more, please contact our Customer Services team.
Academies Accounts Return Integration
For our education customers, we are launching our integration with the Department of Education for automation of the Academies Accounts Return.
This feature allows Multi Academy Trusts to utilise the DfE’s automation functionality, which electronically pre-populates a significant portion of the Accounts Return directly from iplicit, reducing data entry time and minimising manual errors.
Please contact our Customer Services team if you want to find out more.
Customer & Supplier Merge
A new feature to allow the correction of when duplicate supplier or customer records have been created in error. A user with the necessary permissions can merge a duplicate supplier or customer record into the correct valid record, transferring all associated details, documents, attachments, and notes, and automatically locking the duplicate record.
Partial VAT enhancements
Our partial exemption VAT functionality has been expanded to offer enhanced support for related accounting processes within iplicit.
Automated prepayments now adjust for the increase in net costs due to partial VAT calculations.
Automated accruals now adjust for the increase in net costs due to partial VAT calculations.
For partial VAT postings where partial VAT increases the net cost, the non-recoverable element is no longer included in Box 7 on a UK VAT return and in Boxes E2 and ES2 on an Ireland VAT return.
Other Enhancements
Custom Data Access Control (CDAC) is now supported for document imports. CDAC values can be included in the document header, ensuring that imported documents have the same security and functionality as those created through the front end.
The Responsible field in document headers can now be set in document imports.
Document type setting to make the “Their ref” field as mandatory, supported on:
Purchases
- Orders
- GRN's
- Invoices
- Cash purchases
- Payments
Sales
- Orders
- Dispatch
- Invoices
- Cash sales
- Receipts
Sales Invoice document templates, for both recurring and non-recurring invoices, now include the capability to record the Project field in the header.
Cash Purchase documents will now default to the selected supplier's designated bank account if one has been set.
Setting a default bank account on a Supplier record now sets the default legal entity to prevent configuration conflicts.
Additional fields available to finders
Customer
- Created date and Created by
- Pay Terms
- Credit Score, Credit Risk and Credit limit
Bank transfers
- Legal Entity
Manual journal templates and recurring templates support the ability to record Product on the journal lines.
When changing the Customer on a project record, we now have a feature to move all un-invoiced time on Timesheet records to the new Customer.
Control Accounts, a new warning message has been added for when a user attempts to remove the “tick” on Control accounts if postings have been made to the account.
It is now possible to export workflow substitutions to excel from the finder.
It is now possible to cancel the customer statement generation when processing a large batch.
Intercompany Sale and Purchase Automation refunds are now supported.
The correction posting attribute functionality now automatically applies the correction to linked reversing journals.
Data entry control can now be used with Assets and a standard Cost Centre > Asset data entry control query is available.
Support
Introduction of a document import limit. This limit will be set to a maximum of 5000 rows per import. This measure is intended to protect the service from experiencing performance issues due to higher-than-average load, which can negatively impact the environment.
New warning message when a user attempts to edit a document with more than 100 detail lines.
Prevention of submitting documents with a negative unit price.
Contact import, default credit limit set as blank rather than zero so that customer records are not created with a zero-credit limit.
New tool tip for budgets has been added to inform users when they attempt to create a budget with more than 100,000 rows.
Enquiries
Updated
Payments
- Updated to exclude sales documents.
Payment Analysis
- Updated to exclude sales documents.
- Bank account parameter: allow multi selection
- Doc # links to document
Tax
- USA
- New tax authority: New York.
- New Tax Authority & Tax Return Type for USA (GB)
- 10% Standard purchases/sales
- Estonia
- Update Standard VAT Rate to 22%
- New Tax Authorities and Tax Return Types
- France (GB)
- Israel (GB)
- Italy (GB)
- Netherlands (GB)
Interfaces
- Bank of Ireland BACS 18 Export interface
- Soldo Bank statement import
- Chase Bank statement import
- Document import for LRM files
- Lloyds interface updates
API
See API changelog for an update on what's new.