Events such as full or partial disposals, transfers, relifes, and revaluations can be performed on an individual or batch basis to save valuable time.
Manage component replacements at the click of a button. A single process within the system will import a replacement component while disposing of the original component asset.
Calculating the depreciation of component assets as well as the amortisation of grant assets is made quick and easy through an automated process, with the option to schedule depreciation runs.
A full suite of standard and customised reports will provide Housing Associations with all the information required to reconcile month and year-end figures.
The component accounting software of choice
The introduction of the new financial reporting standards over the last few years has had a major impact on the housing sector and managing the transition from SORP 2010 towards the inclusion of the international standards of FRS 102 has proved challenging without the right processes and systems in place. We provide a flexible and powerful component accounting solution that complies fully with the latest SORP and FRS 102 requirements. The simplicity of adding both property and general assets, recording events and producing detailed analysis reports has ensured its place as the market leading solution.
A centralised register provides a complete and accurate picture of your assets and all associated information such as purchase cost, acquisition and capitalisation dates, depreciation rules and residual values, for more informed decision making.
Holds components at unit level and links all physical components and grant elements to a parent asset record to ensure complete transparency and drill down capability.
Costs are calculated for past, current and future periods and years, including current and anticipated additional capital expenditure against assets for improved forecasting and analysis.
The system easily accounts for different types of ownership. For example, when a shared ownership property is sold to a tenant, a partial disposal can be applied to the unit and associated components by percentage or actual cost.
Delivers the ability to hold both historic cost and current market values in separate books against each asset record, simplifying audits and management reporting.
Provides the capability to produce the financial reports in the format of the Annual Accounts to ensure compliance with FRS 102.
Optimising MRI Component Accounting for remote working
Watch this on-demand webinar to learn how by migrating your system to the cloud you could give your teams access to flexible, accessible and secure data whenever and from wherever they are.
Find out more about MRI’s range of technology solutions designed specifically for social housing providers.