Fixed Assets and Lease Accounting System

Accounting manually for capital accounting can be a time-consuming, inefficient process, with the opportunity for human error leading potentially to audit failure or lack of regulatory compliance. Our new, automated Fixed Assets and Lease Accounting system is compliant, efficient and accurate. Designed specifically for the NHS, it replaces outdated and error-prone manual spreadsheets and processes with an intuitive, cloud-based, interoperable system. NHS organisations can start preparing a lease register now, in advance of IFRS 16 coming into effect from April 2022, ensuring a smooth transition of data.

"The Fixed Assets and Lease Accounting system looks very user friendly and suits our needs"

Dan Thompson
Associate Director of Finance
Kent and Medway Community Partnership NHS Trust

Compliant

- with all relevant accounting standards including IAS and IFRS 16 (due to become applicable to NHS systems April 2021).

Interoperable

- integrated with the Oracle Shared Service platform through system generated interfaces to save manual input time and increase accuracy by reducing the possibility of human error.

Secure

- evidencing all organisational assets and lease information as a transparent record for audit review.

Accessible

- as a cloud-based solution, our system is available on a connected laptop or desktop anywhere, helping to improve staff productivity, service speed and the cost of delivery.

Efficient

- multi-user licensing as standard allows two users in small organisations, or three in larger organisations, to use the system at the same time, increasing workforce efficiency.

Immediate

- providing real-time reporting on the life cycle of fixed assets to deliver greater audit accuracy.

Supported

- our experienced implementation team support a smooth migration to the system, upskilling team members quickly and signposting ongoing training. Our client service team, expert in NHS financial and accounting reporting processes, are on hand to assist with product/ service enquiries.

Cost-effective

- NHS SBS takes responsibility for managing all reconciliations and system administration processes, reducing the need for in-house resource. Existing NHS SBS Finance & Accounting clients can also reclaim the VAT costs on the Fixed Assets and Lease Accounting service charge.

Watch the Fixed Assets Webinar

If you have any questions, check out our Fixed Assets FAQs (gi.ui.mediatype.excelworkbook) [26KB]