Rural Housing has implemented Real Asset Management’s component accounting software to improve its fixed asset management processes, replacing its previous Excel-based reporting.
Elaine McGonigle, finance manager, Rural Housing, said, “RAM’s software encompasses all of the component accounting rules, including FRS 102 and SORP 2014. The integration with our finance system is a huge benefit and being able to automatically post journal entries to our accounts software will save us a significant amount of time.
“Previously, all components were recorded and depreciated using spreadsheets. As we’ve grown, it has become increasingly difficult to maintain the amount of detail that we needed. Producing reports on the properties was also difficult, and when it came to calculating depreciation using spreadsheets, it was a very manual process that was subject to human error.
“RAM’s software will eradicate the risk of such issues whilst also providing us with a user-friendly reporting mechanism. Being able to immediately run in-depth depreciation reports is going to prove immensely beneficial because our finance team will no longer have to compile the required information manually and will be able to focus on other tasks.”