Heratio Plugin Spotlight: Heritage Accounting (GRAP 103)

This month's plugin spotlight features the Heritage Accounting Plugin, which implements GRAP 103 (Heritage Assets) and IPSAS 45 standards for public sector heritage asset accounting.

Why Heritage Accounting Matters

In South Africa, the Auditor-General requires public institutions to account for their heritage assets. This includes museums, archives, libraries, and heritage sites.

What the Plugin Does

• Links archival descriptions to financial valuations
• Tracks acquisition costs, fair values, and impairment
• Generates GRAP 103-compliant disclosure notes
• Supports both cost model and revaluation model approaches
• Produces audit-ready reports for the Auditor-General

The plugin is available to all Heratio users and can be enabled through the Extension Manager.