This is where you can read about all the features we've introduced in Accounting. We will be continuously updating this page with any new features added. You can also learn about all our new features in the release notes updates that we regularly email.
February 2021 | Postponed VAT Accounting (PVA)
From 1st January 2021, UK VAT registered businesses are able to account for VAT on imported goods on their VAT return using the Postponed VAT Accounting system (PVA).
As such, we have introduced two new tax codes into VAT mode accounts. These codes are PV2 which can be used to report PVA at the standard rate of 20% and PV0 to report PVA at a zero rate.
Read more about how PVA works in Brightpearl here.
May 2020 | HMRC fraud prevention headers
If you're a UK merchant and submit VAT returns via our Making Tax Digital app, then we've added some extra security to your submissions. HMRC monitors transactions to protect taxpayers from data infringement by third parties; Brightpearl helps them to protect your confidential data by sending additional user audit data in our API calls. Read more about how HMRC uses and protects this data on HMRC's website here.
July 2019 | Tax settings and permissions
All tax configuration can now be found under a new tax section in the left-hand menu of the main settings screen in Brightpearl. You will now find your default tax settings, tax components, tax codes, tax zones and tax regimes under this menu. All these settings are now controlled by the user permission Accounts > Settings.
June 2019 | Tax regimes
If you are an EU business and have passed distance selling thresholds in other member states, then you should be registered for VAT in each such country. This means you probably need to segment your reporting by these separate liabilities in Brightpearl. As such, we've introduced tax regimes!
Tax regimes allow you to assign tax codes to a regime, enabling you to report on each regime separately. This is especially relevant if you submit a VAT return to HMRC using Brightpearl, as only the default regime will be included in the return. By default, all tax codes set up in your account are included in this default regime. This means additional configuration is required if any tax code needs to be excluded from the regime and therefore the VAT return.
Read more about configuring tax regimes here.
May 2019 | Contact filter on financial activity reports
We've added the option to search by contact on the Customer and Supplier Financial Activity reports. Previously, it was possible to navigate to prefiltered reports via the 'Financial activity' link on a contact's accounting mini-tab. Now the option is available directly within the reports at Reports > Accounts > More > Customer Financial Activity or Supplier/Vendor Financial Activity. Open the filter and you'll find a contact search box where you can search by contact name, company, account code, phone number or postcode to narrow down the results in the report.
October 2018 | Accounting for the sale of gift cards/vouchers
It is now possible to create products with the "gift cards" account code. Choose your "gift cards" current liability code at Settings > Company > Accounting: Account codes (nominal codes), and then create your SKUs with this code as the sales code. When these items are sold, either by manually adding to a sales order or via an online channel, the gift card will automatically be accounted for correctly. Learn more about the sale and redemption of gift cards/vouchers
June 2018 | Filter first for balance sheet
Back in March we introduced the option to set various reports as "filter first". This means the page loads with no results and the filters open and ready to complete. This helps to speed up page loading and filtering. This month we have added the option to activate filter first on the balance sheet. Activate this option at Settings > Company > Other options.
June 2018 | Background task export for balance sheet
We have added the option to export the balance sheet as a background task. This means you can request the export and carry on with something else whilst you wait for the report to be generated. View the status and open the exported report in My background tasks.
April 2018 | Use LOFI cost price on returns
When a customer returns an item it’s important that those items are added back into stock at a realistic value. This not only ensures that the balance sheet accurately reflects your financial assets but also that if that item is resold the profit margin is accurately recorded, or if it’s written off that you are not over stating losses on stock.
Up until now Brightpearl has always used the cost price list on the sales credit to specify at what value a returned item is received in at. You can still use this method if you choose, but we have now added the option for you to use a last-out-first-in (LOFI) cost to provide a more accurate cost based on the actual purchases you are making. When using the LOFI cost an item received back on a sales credit (cloned from a sales order) will automatically be recorded with the value of the last item of that product which was shipped, including any landed costs that were allocated to it.
March 2018 | Show filters before results are seen
To speed up page loading and filtering for reports, choose to open the page with no results and the filters open. This can be activated at Settings > Company > Other options for the following reports:
- Accounts payable (aged creditors)
- Accounts receivable (aged debtors)
- Inventory detail
- Inventory summary
- General ledger
- Sales tax detail (US only)
- Sales tax (US only)
- Audit trail
March 2018 | Export reports without viewing first
When requesting a report it can be sent straight to export without first viewing the results on screen. This means no waiting for the report to load and no second step needed to send it to Excel. Simply apply the filters and hit Export instead of Filter.
March 2018 | Ad-hoc check printing from bank payments (US only)
With ad-hoc check printing a single check can be printed from a bank payment.
Once the bank payment has been entered it can be printed from Vendors > Vendor payments.
March 2018 | Enter first check number when batch printing
When batch printing checks you are now able to enter the first check number and ensure that each Brightpearl transaction has the correct check number applied.