Opera house Glyndebourne has implemented a new accounting and business system from PS Financials.
One of the key features of the system is its provision for automated partial VAT recovery and control – crucial to the company’s roles as a theatre company, charity and retailer.
The ability to streamline the process of recovering a percentage of VAT as a result of ‘cultural exemption’, will reduce the administrative burden on staff.
The PS Financials implementation replaces a bespoke system that had proved inflexible.
Carolyn Collard, Glyndebourne’s finance manager, said that the introduction of partial VAT exemption had huge implications in accounting terms, and the old systems ‘couldn’t cope’.
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