Ulster-based Habinteg Housing Association is using Real Asset Management’s Asset4000 software to ensure that the accounting of its £159 million assets is SORP compliant.
Helen Blease, finance manager, Habinteg Housing Association, said, “We spent the past year developing a specialist spreadsheet solution to ensure that we were SORP compliant by the April 2012 deadline. However, we soon realised that despite the spreadsheet solution delivering the results we needed, it wasn’t a viable long term solution.
“It became apparent that once we started increasing our property portfolio, we would struggle to maintain the level of detail needed for a SORP-compliant asset register. We therefore looked for an external supplier who understood the changing landscape of component accounting and could offer us a system that would continue to adhere to the rulings.”
The Asset4000 system will enable Habinteg to easily categorise its assets and ensure its reports are SORP compliant. Having the capability to easily export and import journals between Asset4000 and its accounts system from Omniledger will also enable Habinteg to streamline its accounting processes.