Fixed Assets and Lease Accounting system goes live next year
Following a successful proof of concept with our pilot client, Kent and Medway NHS & Social Care Partnership Trust, NHS SBS is delighted to be able to offer a new Fixed Assets and Lease Accounting System from March 2020.
NHS SBS has entered into a partnership with FMIS Ltd who specialise in Fixed Assets Software, to provide a new Fixed Assets and Lease Accounting System. The system is available now as a product to further pilot, and the focus until February will be on developing the inbound and outbound interfaces as well as the training and support packages in time for go live.
The FMIS system is proven to be both intuitive and Excel friendly, and the interfaces will ensure that all Assets and Leases transactions are accounted for correctly in the general ledger. The Lease Accounting module is compliant with the new IFRS16 accounting standard that the NHS will adopt from April 2020. If taken in conjunction with the Asset module, the Lease Accounting will calculate and create the associated Right of Use Asset in the Asset System once the lease information has been entered.
First Line functional support will be provided by the NHS SBS GL team, who will also reconcile the Asset and Leases modules back to the general ledger as part of the GL reconciliation service.
If you are interested in signing up for the FMIS or Lease Accounting service, please contact your service manager or CPE.