They Said

I worked closely with Anthony Ross on the Asset Register project. His expertise in fixed asset management, accounting requirements, and system design was invaluable throughout the project. He provided practical, well-informed advice, challenged existing processes constructively, and helped us deliver a fully reconciled and sustainable asset register. His collaborative approach and attention to detail contributed significantly to the success of the project. I would have no hesitation in recommending him for similar assignments.

Background

A housing association identified significant challenges with its existing Fixed Asset Register (FAR), which had evolved over many years. Originally, asset records that had been maintained across multiple spreadsheets and legacy systems, were transferred to proprietary FAR software.

However, over time the completeness of the data and the data structure no longer supported the processing needs and reporting capabilities of the business or 3rd party participants. These issues created financial reporting risks and increased the effort required to accurately report on monthly outcomes and support annual audits. A project was initiated by the Finance Team to re-engineer and re-implement the FAR to improve accuracy, control, and compliance.

Due to our expertise in the sector and in-depth knowledge of FAR software design and implementation, we were approached by the housing association to help deliver the re-engineered solution.

Project Approach

Together with the Finance Team, we helped control the project from initial assessment through to implementation and handover. The project commenced with a comprehensive review of the existing asset management processes, data structures, and reporting requirements. Workshops were conducted to understand current challenges and define future-state requirements.

We advised on the redesign of asset coding and classification structures, best practice and completely redeveloped the posting regimes to the financial ledgers.

The objective was to create a standardised and sustainable system aligned with accounting standards and organisational policies and which was scalable for the anticipated future needs of the business.

Re-implementation and Re-engineering

We were responsible for system configuration, data migration, data updates, report design and quality control including process testing, data verification, and data validation.

Furthermore, although the re-engineered FAR is outside the organisation’s finance system, we redesigned and re-implemented its integration which significantly improved the quality and consistency of financial recording and reporting. We also helped coordinate, testing activities, ensuring that all records were verified, reconciled, and approved before go-live.

To support successful adoption, we developed process documentation, training materials, and workshops for finance and operational teams. User Acceptance Testing was completed to verify functionality, reporting accuracy, and compliance requirements.

Outcomes

The project successfully delivered a fully reconciled and standardised FAR that improved the accuracy and integrity of componentised asset data. Month-end and year-end reporting processes became more efficient. The organisation achieved greater visibility of its asset portfolio, strengthened financial controls, and improved compliance with accounting and audit requirements.

The re-engineered solution provided a sustainable basis for future asset recording activities, reducing manual effort, and enabling more informed decision-making. Efficient data governance, and effective project management were critical to the project's success.