Finance Manager

Finance Manager

Resolve differences between your stock systems, save time, money and ensure stock is up to date.

  • Secondary care

Finance Manager

Features and benefits

  • Ensure accurate reporting
  • Identify errors in stock balancing
  • Provide financial data for month end ledger
  • Reduce drug stock errors
  • Improve finance processes
  • Save staff time

Most Trusts have difficulties in reconciling their book stock to their Pharmacy stock irrespective of the pharmacy system they use. Hospital accountants have to spend countless hours towards month-end in an attempt to resolve stock discrepancies between the two systems often without much success. Some Trusts even have their year end accounts qualified by their auditors due to very large unexplained stock discrepancies.

This is where Finance Manager steps in. When performing a reconciliation of this magnitude, you need every single bit of data that’s available to you. Finance Manager’s powerful drill-down functionality enables you to extract all the data you need, down to grass roots level. You can export data to spreadsheets for further analysis from all levels of your drill-down.

Finance Manager supports Stock Reconciliation to verify: Closing Stock = Opening Stock + Receipts – Issue

The system can be used for troubleshooting; if a stock reconciliation highlights a big difference between calculated and book stock balance, Finance Manager provides the tools for investigation.

The system also supports Data Analysis as data imported by Finance Manager can be sorted, filtered and exported to MS Excel or MS Access applications for analysis. If a Trust’s finance team is unable to resolve large differences between your Pharmacy system stock and Book stock, then Finance Manager is the first step in helping to resolve stock differences.

 

How does finance manager work?

At the heart of Finance Manager is a powerful Transaction-Interpretation Engine (TIE) that examines and applies user-definable accounting rules to all pharmacy transactions that have a financial impact. For example, a drug receipt would be debited to the stock account and credited to the Goods Received Not Invoiced account. Commonly used accounts and accounting rules will be shipped with Finance Manager so that the application can be used straight ‘out-of-the-box’ but users can create, clone or customise the accounts and accounting rules.

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