Finance & Accounting
We provide a complete Finance & Accounting (F&A) end to end solution for NHS organisations, enabling you to benefit from increased levels of control and improved decision making.
Since April 2013 we have also been providing Finance & Accounting for each of the 234 NHS Commissioning organisations including NHS England, CSUs and CCGs. Developed by the NHS for the NHS, our services include:
- Cash Receipting
We receipt and allocate cash received to general ledger codes attaching allocation details and remittances to receipts within 24 hours to provide a full visible audit trail within Oracle. Electronic income is automatically receipted, refund allocations made within 24 hours and any unallocated cash replies closed within 3 days.
- Cash Management
We fully manage all information relating to cashbook, cash flow and bank account financial position, including reconciled daily cash book balance, cash receipting and cash allocation.
Our cashbook services include the provision of a complete list, by account by month, of all transactions summarised and broken down by type. We provide daily updates detailing bank activities undertaken the previous day and include reports showing committed expenditure to indicate the complete cash position.
- Debt Management
We implement collections strategies based on debtor profiles on your behalf, proactively telephoning and emailing to resolve outstanding debt and queries.
We liaise with key commercial debtors such as insurance companies and local councils, with any non-payment issues escalated promptly as required. NHS debtor / creditor reconciliation exercises are completed regularly and all our automated reminder letters and debtor statements are fully compliant with Department of Health standards.
- VAT Recovery
Our VAT experts provide specialist advice on all aspects of VAT and preparation of the VAT returns for client approval through timely VAT checking. Services include partial exemption, business activity reviews, zero rated catering reviews, capital VAT handling and bespoke capital advice.
- Purchase to Pay
We enable your trust to realise significant benefits through the provision of intelligent information, a procurement dashboard, analysis and modelling tools and price comparator reports. A user friendly web-based requisitioning tool is designed to improve end user comfort and therefore encourage usage. A workflow-based approval process with e-mail notification ensures authorised approver limits are enforced and the online receipting facility includes the ability
to manage receipt corrections and returns.
- Accounts Payable
The invoices we receive on your behalf are electronically scanned and routed through customised Oracle workflows, providing complete visibility throughout the payment process. All invoices are verified and any invalid or duplicate invoices are automatically rejected.
Invoices and queries are either routed directly to the primary recipient in the trust for action or passive approval is initiated. Specific escalation processes are embedded in workflows that include out-of-office and time-out automated notifications. Our Client Service Centre assigns a specific team to your trust, providing a single point of contact for suppliers and removing the need for suppliers to chase individuals in the trust.
We also proactively research supplier information to facilitate prompt electronic payments and remittance advice.
- Management Information, Business Intelligence & Reporting
Our reporting service is flexible and reliable, delivering real-time management information using the latest Oracle R12 systems and Business Intelligence solutions. This allows you to demonstrate accountability, benchmark your services and to monitor system utilisation. These financial management reports can be made widely available to your clinicians, service line managers, finance managers and Board members.
- General Ledger & Financial Accounting
We provide you with an NHS customised, secure financial ledger including the full integration of sub ledgers. A comprehensive control account reconciliation service is also part of the package including the preparation of monthly balance sheet reconciliations, both interim and final, within an agreed timeframe. This uses and hosts the National Chart of Accounts, provides flexible month and year-end closing beyond the standard 7 days and follows a pre-defined, published accounting timetable for month-end close and month-end reporting.