Southend Trust reconciles assets
Southend Hospital NHS Trust has invested £28,000 in a Real Asset
Management (RAM) financial accounting system, to ensure it fully
complies with the requirements of the Capital Accounting Manual and is
able to supply important data to the new NHS Payment by Results scheme.
The aim of the latter is to provide the NHS with a transparent,
rules-based system for paying trusts. It has been established to reward
efficiency, and aims to support patient choice by encouraging trusts to
make sustainable reductions in waitinglists.
The ability to allocate capital expenditure to the specific services
it is intended to develop, as well as the need for even more precise
records relating to utilisation of capital, is essential for the Trust.
Kent-based RAM’s Series4000 accounting software is helping Southend
achieve this.
Series4000 is RAM’s capital project control solution, which enables
commitments (orders raised, internal charges etc) and expenditure
(invoices received, etc) to be recorded against project budgets for both
capital and expense transactions.
The system maintains a detailed work-in-progress asset register
which, if required, can transfer capitalised items across to the fixed
asset register. This is intended to supply the user with complete
control of cash-flows, budgets and project expenses.
Source: bjhc&im October 2005
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