CIPFA’s AssetManager.NET is a fully integrated finance and asset management package for both capital accounting and asset management, ensuring that your asset register and property database are compatible at all times.
"The Fixed Asset Register was implemented in record time thanks to CIPFA's responsive and helpful support. Training on the system was first class, we transferred/reconciled all data in good time." Neville Murton, Head of Finance, London Borough of Haringey
Features and benefits include:
- dedicated screens for addition and update of assets
- specifically designed for the public sector
- cloud based so users can access from multiple locations
- modular software allows you to choose the functionality to suit your needs
- data can be exported and manipulated by other popular software applications
- validated pick lists for ease of data input and accuracy
- intelligence via automatic rules built into the modules
- generation of year-end reports enabling considerable time saving
- prescribed mandatory fields to ensure data is complete
- data links seamlessly with the other modules within AssetManager.NET
- transaction types include full and partial disposals, transfers, calculation of changes to life expectancy, revaluations and componentisation
- software holds a history of all user actions showing which records were affected
- utilises a full range of user definable reports.
Capital accounting module
This module handles the accounting entries to fulfil CIPFA's accounting requirements for tangible fixed assets as outlined in the Code of Practice on Local Authority Accounting. These requirements include:
- assets made up of properties, buildings, housing, plant, vehicles and equipment must be valued and included in the authority’s consolidated balance sheet
- assets must be charged to their respective users (cost centres) by means of a capital charge. The charges are calculated against each asset and applied to individual cost centres within the software and there is functionality to set up the asset records needed to meet the requirements above.
Componentisation of all assets within the software is enabled in accordance with CIPFA LAAP Guidance.
The ability to forecast
AssetManager.NET includes a budget year facility allowing for a copy of the live database to be taken and 'what if' scenarios created for future capital asset decisions, or to test the year-end figures prior to closing the accounts. These budget years can be rolled over in the same way as the live financial year. This allows the user to see the effect of changes within the system against both individual assets or categories of assets within the register.
Plant, vehicles and equipment module
The plant vehicles and equipment (PVE) module allows for recording of details of all PVE assets. The details for these assets can then be linked to property or building assets within the core module and revalued in the valuation module for inclusion in the capital accounting module.
The housing module allows for recording of housing groups, archetypes and individual units. These assets can be revalued in the valuation module and feed into capital accounting in order to form part of the overall balance sheet.
The valuation module is designed to allow valuations to be held for properties at land and building level and also valuation of housing stock and plant, vehicles and equipment assets. Several methods of valuation can be held but only one of the valuation methods for the asset can be passed to the accounting entries module. Revaluation losses which arise when an asset is revalued down are automatically calculated and recorded. A reinstatement valuation for insurance purposes can also be held.
Property management module
This module has been designed to hold comprehensive data on agreements including:
- agreement type
- rent details including reviews
- service charges
- decoration schedules.
All aspects of the agreement can be stored along with tenant details. Historic records of previous agreements in a specific managed record can be maintained including details of vacant periods of properties.
Case managers can be informed of key event dates affecting individual caseloads (such as rent reviews), using our integrated diary function. The function can be linked to any date within the property management module and provides alarms.
Acquisition and disposal modules
The acquisition and disposal modules allow quick access to key deed packet information such as:
- vendor and/or purchaser details
- completion date and price
- land and building areas
- deed notes.
Deed packet information can be linked back to properties and buildings in the core to cross-reference the legal information of the purchases with the core data.