Central government departments can be responsible for a varied portfolio of property, infrastructure, vehicles, IT equipment and specialist operational assets. Financial information may be held by central finance teams, while estates, IT and operational teams manage the assets themselves across multiple offices and sites.
FMIS provides a structured environment for managing the financial and operational information associated with these assets. Departments can configure asset classes, locations, reporting structures and accounting periods around their requirements, while maintaining a clear history of changes throughout the asset lifecycle.
In the UK, this includes supporting the underlying asset accounting processes used to prepare departmental reports under HM Treasury’s Government Financial Reporting Manual. National government departments and ministries in other countries can configure FMIS around their own accounting framework and organisational structure.
FMIS can connect financial asset information with the teams responsible for managing, locating and maintaining assets in practice.
Maintain asset registers, calculate depreciation, manage asset events and produce information for reconciliation, forecasting, audit and financial reporting.
Record asset locations, custodians, status and movement history. Equipment can be assigned to users or departments and verified through barcode or QR code audits.
Organise property, equipment and other assets by department, site, location and asset type, with supporting records and a clear history of changes.
Departments often need to bring together asset information held by different teams without replacing every existing finance, procurement or operational system. The priority is to maintain clear records, controlled processes and reliable information for each team that uses the data.
These workflows show how finance, estates, IT and operational teams can use FMIS to keep asset information current and manage work across departments and sites.
FMIS Fixed Assets supports additions, transfers, cost adjustments, revaluations, impairments and full or partial disposals. Departments can record assets under construction, maintain multiple books and entities, and calculate and forecast depreciation across their reporting structures. Percentage-based indexation, bulk index loading and configurable indexation profiles help finance teams apply the appropriate indices to different asset categories.
Departments may manage property and equipment leases across multiple sites, while finance needs consistent information for accounting and reporting. FMIS brings lease terms, payments and changes into a central record. It calculates right-of-use assets and lease liabilities, supports modifications and terminations, and produces schedules and ledger postings for review under the department’s accounting policies.
Equipment may move between departments, sites and users without the financial asset record being updated at the same time. FMIS records each item’s location, status, custodian and movement history, alongside relevant documents. Teams can use barcode or QR code scanning to verify assets on site and investigate differences between physical and financial records.
Estates and operational teams need to plan servicing and respond to faults across offices and operational sites. FMIS supports maintenance schedules and work orders, records completed activity and keeps a service history against each item. Teams can then review work that is due, in progress or completed for property-related equipment, vehicles and other assets.
Where departments need more control over purchasing, FMIS supports requisitions, approvals, purchase orders and goods receipt. Purchases can be assigned to departments, projects, budgets and cost centres, with a record of approvals and changes.
Asset classifications, component relationships, depreciation and financial changes.
Lease data, calculations, changes and reporting for relevant agreements.
Location, custodian and movement records, with tools for physical asset checks.
Planned tasks, work orders and service history for equipment in scope.
Purchasing approvals and management of requisitions, approvals and purchase orders.
Requirements differ between departments. View the full range of FMIS solutions.
FMIS has experience supporting asset management requirements across central government and the wider UK public sector. The modular structure allows departments to select the financial and operational functions relevant to their requirement rather than adopting an unnecessarily broad system.
FMIS Fixed Asset Management, Asset Tracking, Equipment Maintenance and Lease Accounting are available as cloud services through G-Cloud 15. Buyers should assess the individual service descriptions, pricing and terms against their statement of requirements and departmental procurement policies.
UK central government departments prepare their financial statements using HM Treasury’s Government Financial Reporting Manual, commonly known as the FReM. The manual applies international accounting standards within the UK public-sector context and includes specific requirements and guidance for non-current assets, valuation and lease accounting.
FMIS does not replace departmental accounting policies or professional judgement. It supports the underlying records, calculations and controlled processes used by finance teams, including depreciation, indexation, revaluation, impairment, asset movements, lease calculations and general ledger postings.
Terminology and reporting requirements vary between jurisdictions. Departments and ministries outside the UK can configure FMIS around their applicable accounting standards, reporting structure and financial periods.
FMIS can be delivered through FMIS Cloud or installed within the department’s own environment. FMIS Cloud uses UK-based hosting, while local installation remains available where departmental policy or existing infrastructure requires it.
FMIS is certified to ISO 27001 and ISO 9001 and holds Cyber Essentials Plus certification. The system supports role-based permissions, multi-factor authentication and encryption in transit and at rest. Relevant FMIS personnel can also be vetted to Security Check level where required, subject to the scope and staffing of the project.
Detailed information covering hosting, data protection, secure development, vulnerability management, testing, business continuity and accessibility is available through the FMIS Trust Centre.
Review the FMIS services available through the current UK public-sector cloud procurement framework.
An introduction to the changing valuation context and the practical considerations for public-sector finance teams.
Why UK public-sector reporting increasingly uses the term non-current assets and what this means in practice.
Read the article
Can FMIS manage assets across multiple departments and sites?
Yes. FMIS supports configurable company, department, location and asset structures. Departments can maintain central reporting while allowing users to work with the records relevant to their responsibilities and permitted access.
How does FMIS support reporting under the FReM?
FMIS supports the underlying asset records, calculations and processes used by finance teams preparing reports under the FReM. This can include depreciation, indexation, revaluations, impairments, transfers, disposals, lease calculations, reconciliation information and general ledger postings. The department remains responsible for its accounting policies, judgements and final financial statements.
Can FMIS integrate with an existing finance or ERP system?
Yes. FMIS can exchange asset, accounting and operational information with finance and ERP systems through configured integrations, imports, exports and APIs. The appropriate approach depends on the systems involved, the required data and the department’s technical and security requirements.
Is FMIS available in the cloud and on-premise?
Yes. FMIS can be delivered through FMIS Cloud using UK-based hosting or installed within the department’s own environment. The most appropriate deployment model will depend on security policy, infrastructure, access requirements and the scope of the implementation.
Which FMIS services are available through G-Cloud 15?
The current FMIS G-Cloud 15 services cover Fixed Asset Management, Asset Tracking, Equipment Maintenance and Lease Accounting. Buyers should review the applicable service descriptions and framework guidance before selecting a procurement route. Other FMIS modules may require a separate procurement arrangement.
Do departments need to implement every FMIS module?
No. FMIS is modular. A department can implement the functions relevant to its immediate requirement and consider additional modules where there is a practical need to connect financial and operational asset processes.
Government departments vary considerably in the assets they manage, their existing systems and the controls they need to maintain. Speak to the FMIS team about your financial, operational, technical and procurement requirements.
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