State of Connecticut Core-CT Continuing Education Initiative. Asset Management for Asset Processors

Transcription

1 State of Connecticut Core-CT Continuing Education Initiative Asset Management for Asset Processors 1

2 Course Goals To give students a greater understanding of their place in Core- CT, an integrated system. To instruct students in the Core-CT recommended approach to Asset Management. To help students maximize the capabilities of Asset Management and use their work time efficiently. 2

3 Agenda Core-CT Overview Asset Overview Asset Management Integration Roles Requester Buyer Asset Processor PO Queries, Correcting PO Errors Receiver Voucher Processor Asset Processor Staging Tables, Consolidating, Unitizing, Running the Transaction Loader Process, Transaction Loader Errors, Deleting Unsuccessful Loader Processes Basic Add in the AM Module Adding to an Existing Asset in the AM Module Helpful Information 3

4 State of Connecticut Core-CT Continuing Education Initiative Asset Management for Asset Processors Table of Contents 1. Core-CT Overview Page 5 2. What is an Asset? Page 6 3. Methods of Asset Entry Page Asset Integration Fields Page AM Integration Roles Page Requester Role Page Buyer Role Purchase Orders Page Asset Processor Role in the Integration Process Page Running Queries Page Correcting PO Errors Page Receiver Role Receipts Page Voucher Processor Role - Vouchers Page Asset Processor Role in the Integration Process Page Review Physical A Staging Tables Page Review Financial Staging Tables Page Putting Assets On Hold Page Removing Assets From Staging Tables Page Consolidating Assets Page Unitizing Assets Page Combining Consolidation/Unitizing Page Running the Transaction Loader Process Page Transaction Loader Errors Page Deleting Unsuccessful Transaction Loader Processes Page Reviewing Assets in Asset Management Page Basic Add in the AM Module Page Adding to an Existing Asset in the AM Module Page Helpful Information Page 177 4

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6 What is an Asset? Items or property owned and not intended for sale. Assets have an expected useful life of one or more years. 6

7 Assets Capitalized Personal Property Controllable Personal Property Real Property 7

8 What is Capitalized Personal Property? Asset items with a value or cost of $1000 or more 8

9 Capitalized Personal Property in Core-CT Value or Cost = $1,000 or more Has a useful life of one or more years May be subject to depreciation Depreciation is an accounting concept that deducts the cost of an asset over the number of years that the asset will be used. Core-CT performs the depreciation calculation utilizing established useful lives. 9

10 Capitalized Personal Property in Core-CT Must be maintained in the Asset Management module Has a capitalized asset Profile ID Asset Expense Accounts begin with 556 or 557 Profile IDs define the category and depreciation schedule for the asset. Examples of capitalized asset Profile IDs: 1EQUIPMENT Furnishings and Equipment 1VEHICLES Automobile Asset Expense Accounts are expense account codes assigned to assets. Examples of capitalized Asset Expense Accounts: Office Equipment Data Processing Equipment Job aids for Profile IDs and Asset Expense Accounts can be found at the Core-CT website: Financial Users > Asset Management > Asset Management Job Aids 10

11 What is Controllable Personal Property? Asset items with a value or cost of less than $1000, and at the discretion of the agency head, require identity and control. 11

12 Controllable Personal Property in Core-CT Value or Cost < $1,000 Identification of Controllable Assets are at the discretion of the agency head Has a useful life of one or more years Are not depreciated Once identified, must be maintained in the Asset Management module 12

13 Controllable Personal Property in Core-CT Written listing of Controllable Personal Property should be made available to all Purchasing, Accounting, and Receiving staff Has the controllable asset Profile ID of 1CNTRLITEM Asset Expense Account: Profile IDs define the category and depreciation schedule for the asset. There is only one controllable asset Profile ID: 1CNTRLITEM Controllable Assets Asset Expense Accounts are expense account codes assigned to assets. There is only one controllable Asset Expense Account: Controllable Assets Job aids for Profile IDs and Asset Expense Accounts can be found at the Core-CT website: Financial Users > Asset Management > Asset Management Job Aids 13

14 What determines the cost of Personal Property? Purchase price Ancillary costs 14

15 Personal Property Costs Purchase price Shipping and Handling Fees Extended warranty cost at time of acquisition Expenses incurred to put the asset in service 15

16 Cost Basis when Assets are Traded-In Cost of new asset Net Book Value of Traded-in asset Determining Net Book Value of the Traded-In Asset: Traded-In Asset Cost $ Depreciation Year To Date $3000 = Net Book Value $2000 Core-CT automatically calculates the Net Book Value (NBV). NBV can be viewed: Asset Management > Depreciation > Review Depreciation Info > Asset Depreciation If the trade-in asset is fully depreciated when traded in, there would be no cost adjustment to perform. The new asset would be recorded as the actual cash paid amount. Determining Total Cost of the New Asset: Cost of New Asset $ Net Book Value of Old Asset $2000 = Total Cost of New Asset $8000 The actual cash paid for the new asset will be entered on the Requisition/Purchase Order. The Asset Processor will be responsible for adjusting the cost of the new asset once loaded into the AM module. Because of Governmental Accounting procedures, trade-in allowances from a vendor are not included. 16

17 Cost Basis when Assets are Discounted Examples of Discounts: Specialty Promotions (In-Store Promotional discounts not sale prices) Buy one, get one free (Not sale prices) Specialty Promotions Example: In-store promotion to purchase an energy-efficient refrigerator and receive $250 off the purchase price. Buy One, Get One Free An asset can not be entered in the AM module with a 0 cost. Example: Buy 2 copiers and receive one half price. The actual cash paid for the new asset(s) will be entered on the Requisition/Purchase Order. The Asset Processor will adjust the cost of the new asset(s) once loaded into the AM module. 17

18 Personal Property Exercise DAS purchased a new refrigerator. The store offered a $50 tradein allowance towards the new purchase. What should be entered into Core-CT as part of the total asset cost for the new refrigerator? Indicate which costs are included on the PO and which costs are entered in the AM module. PO AM Cash paid for new refrigerator - $1419 Removal of old refrigerator - $60 Trade-in allowance (in Description field only) - $50 Net Book Value of old refrigerator - $25 Calculation of Asset Cost: 18

19 What is Real Property? Land, buildings, structures, and improvements 19

20 Real Property Examples Land Buildings Site Improvements Site Improvements on leased property Equipment attached to and part of buildings and structures 20

21 Real Property in Core-CT No value or cost threshold May be subject to depreciation Must be maintained in the Asset Management module Has a real property asset Profile ID Asset Expense Accounts begin with 554, 555, or 558 Profile IDs define the category and depreciation schedule for the asset. Examples of real property Profile IDs: 1LAND - State Owned Land 1BUILDINGS - State Owned Buildings Asset Expense Accounts are expense account codes assigned to assets. Examples of real property Asset Expense Accounts: Building Sites Highways Job aids for Profile IDs and Asset Expense Accounts can be found at the Core-CT website: Financial Users > Asset Management > Asset Management Job Aids 21

22 Real Property in Core-CT Real Property Location codes and Asset IDs must be requested from OSC prior to loading the asset information into Core-CT. Phone: Include the following information for Land and Buildings: Agency, Town Name, Date Acquired, Cost, Usable-Unusable, Purchased-Gift- Transferred, Number Acres The Location identifies the physical location of the real property. The Asset ID will be used for Core-CT tracking purposes. 22

23 Real Property in JESTIR State owned buildings must be recorded and updated on the JESTIR (Joint Effort State Inventory Reporting) system For information regarding JESTIR, contact: Office of Policy and Management JESTIR is a mutual effort of three agencies, Office of Policy and Management, Office of the State Comptroller, and Department of Public Works, to consolidate real property inventory data. JESTIR tracks the appreciation and value of state owned buildings while the Asset Management module tracks asset costs associated with state owned buildings. 23

24 What determines the cost of Real Property? Purchase price Ancillary costs 24

25 Real Property Asset Costs - Land Acquisition Price Legal and title fees Unpaid taxes assumed Surveying and recording fees Appraisal and negotiation fees Site preparation costs clearing, filling, leveling Demolition of unwanted structures Land is real property whose title is held by a state agency. Costs include all expenditures in connection with land acquisition and site preparation. 25

26 Real Property Asset Costs - Site Improvements Roads, bridges and tunnels Walls, curbs and sidewalks Drainage systems Landscaping Lighting Site improvement costs only pertain to land and have a separate Profile ID to determine depreciation. 26

27 Real Property Asset Costs - Buildings Purchase or construction price (excluding land) Professional fees for Architects Other expenditures necessary to put a building or structure into its intended state of operation Building improvements that significantly extend the useful life or enhance the value of the individual building The statewide definition of a building is a relatively permanent structure to house persons or property. 27

28 Asset Identification Exercise 1. $1000 Memory to be added to an existing capitalized computer Capitalized Real Property Capitalized Personal Property Controllable Personal Property None 2. $900 Boat Trailer Capitalized Real Property Capitalized Personal Property Controllable Personal Property None 3. $2,000 Extended Warranty for a new vehicle (Purchased at the same time as vehicle) Capitalized Real Property Capitalized Personal Property Controllable Personal Property None 4. $850 Computer Capitalized Real Property Capitalized Personal Property Controllable Personal Property None 5. $200,000 Roof Replacement Shingle Roof to Solar Panel System Capitalized Real Property Capitalized Personal Property Controllable Personal Property None 6. $1,225 for Vehicle Repairs Capitalized Real Property Capitalized Personal Property Controllable Personal Property None 7. $200,000 Roof Replacement Asphalt Shingle Roof to Asphalt Shingle Roof Capitalized Real Property Capitalized Personal Property Controllable Personal Property None 8. $5,000 Alarm System in the building Capitalized Real Property Capitalized Personal Property Controllable Personal Property None 28 28

29 Methods of Asset Entry Donation Escheatment Seized Requires Manual Entry into Asset Management via Basic Add Acquire Assets By: P-Cards Asset Management module Build Procurement/ Purchasing The Asset is posted into Asset Management through Integration Most assets purchased by the State of Connecticut (with the exception of assets purchased using a P-Card or acquired through donations, escheatment, and seizure) will be posted to the Asset Management module from the procurement modules. The proper way to bring assets into the Asset Management module is through the Purchasing/Procurement integration process. This integration process provides the ability to correlate all applicable Requisitions, Purchase Orders, Receipts, and Vouchers. 29

30 Asset Integration Fields in Core-CT AM Business Unit Profile ID Account Location Tag Number Capitalize checkbox These fields in the Financial modules have a direct effect on the asset management integration process. Refer to the following handouts in the Appendix: Asset Integration Fields in Core-CT Profile ID Listing Capitalized Expense Asset Accounts 30

31 Asset Management Integration Roles Requester Responsible for creating a Requisition with appropriate asset information Buyer Responsible for creating a Purchase Order with appropriate asset information Asset Processor Responsible for: Running the PO Capital Asset Query and Controllable Asset Query Making necessary corrections to Asset Management fields on a Purchase Order 31

32 Asset Management Integration Roles Receiver Responsible for receiving an asset against a Purchase Order Voucher Processor Responsible for creating a Voucher for payment of an asset Asset Processor Responsible for: Previewing the Physical A and Financial Loader Table Consolidating/Unitizing Assets Running the Transaction Loader process Reviewing Assets in the Asset Management module 32

33 Asset Management Integration Roles Every role involved in the integration process is responsible for verifying the accuracy of asset information fields at every stage that is applicable to them 33

34 Purchasing & Asset Integration by Role If your agency uses Requisitions, the integration process will begin with the Requester. 34

35 Requester Creates a Requisition Codes an asset to a Capitalized or Controllable expenditure Account Enters the correct asset Location, AM Unit, and Profile ID Ensures the Capitalize check box remains selected In order for the Requester to complete the Requisition process accurately, it is important for them to obtain updated Controllable Asset listings. 35

36 Asset Requisitions On the Chartfields1 tab, the Location code defaults to ACORE and should not be changed unless the Requester is familiar with asset Location codes (ADAS..) and has knowledge of where the asset will be physically located at the time of entry. Note: The Location code is one of the predefined defaults based on User ID and can be changed on the Modify Line/Shipping/Accounting page if using the line defaults on the Define Requisition page. The Location can also be changed by opening the individual lines on the Review and Submit page. Refer to the eprocurement Requisition Defaults job aid for more information on changing predefined defaults. The Requester can enter asset expense account codes for each line item. Capitalized asset expense accounts always begin with 55. The only 36 Controllable asset expense account is

37 Asset Requisitions The Requester can enter specific asset information on the Asset Information tab such as the AM Business Unit and the Profile ID. It is important that the correct Profile ID is selected because an incorrect Profile ID can cause problems with the depreciation of the asset. As soon as the AM Business Unit is entered, the Capitalize check box automatically selects. This check box must remain selected for all assets (Capitalized Personal Property and Controllable Personal Property) and should never be de-selected. 37

38 Asset Requisitions with Multiple Components If the Requester enters assets with multiple components, they should always try to combine all component costs onto one line whenever possible. This helps avoid partial Receipts and ensures that all applicable costs are capitalized and included in the total cost of the asset. Individual components and prices can be entered in the Additional Information field. Then, the total cost of all components can be entered in the Price field. Commas (,) should not be entered in Description or Additional Information fields. Commas will cause errors during Physical Inventory. Slashes (/), semi-colons (;) or hyphens (-) can be used to separate multiple costs. 38

39 Purchasing & Asset Integration by Role Once a Requisition is approved and passes budget check, it is sourced to a Purchase Order and dispatched to the Vendor. The Buyer designated on the Requisition has the ability to edit the Purchase Order sourced from the Requisition. If your agency does not use Requisitions, the asset integration process will begin with the Purchase Order. The Buyer will enter all necessary asset information on the Purchase Order and will make sure that the Capitalize check box is selected for all assets. After the PO is created and saved, Chartfield and Budget Approvers should verify the accuracy of asset fields as part of their approval responsibilities. 39

40 Buyer Verifies correct asset information if PO sources from a Requisition Creates a Purchase Order Codes the asset to a Capitalized or Controllable expenditure Account Enters the correct asset Location, AM Unit, and Profile ID Ensures the Capitalize check box remains selected In order for the Buyer to complete the Purchase Order process accurately, it is important for them to obtain updated Controllable Asset listings. 40

41 Asset Purchase Orders After the Buyer navigates to the Purchase Order page, it is important for them to review the Receiving Required field on the Receiving tab. Receiving is Required must be selected for all Capitalized and Controllable Personal Property acquisitions. If Do Not Receive is selected, Receivers will not be able to enter the Tag Number or Asset ID. 41

42 Asset Purchase Orders The Buyer can enter asset expense account codes for each line item on the Chartfields tab. Capitalized asset expense accounts will always begin with 55 and the only Controllable asset expense account is

43 Asset Purchase Orders On the Details/Tax tab, the Location code defaults to ACORE and should not be changed unless the Buyer is familiar with asset Location codes (ADAS..) and has knowledge of where the asset will be physically located at the time of entry. 43

44 Asset Purchase Orders The Buyer can enter specific asset information on the Asset Information tab such as the AM Business Unit and the Profile ID. It is important that the correct Profile ID is selected because an incorrect Profile ID can cause problems with the depreciation of the asset. As soon as a Profile ID is entered, the Capitalize check box automatically selects. This check box must remain selected for all assets (Capitalized Personal Property and Controllable Personal Property) and should never be de-selected. 44

45 Asset POs with Multiple Components If the Buyer enters assets with multiple components, they should always try to combine all component costs onto one line whenever possible. This helps avoid partial Receipts and ensures that all applicable costs are capitalized and included in the total cost of the asset. Instead of entering each component onto a separate line, individual components and prices should be entered in the Description field. Then, the total cost of all components should be entered in the Price field. 45

46 Asset POs with Multiple Components Sample Item Description Commas (,) should not be entered in Description or Additional Information fields. Commas will cause errors during Physical Inventory. Slashes (/), semi-colons (;) or hyphens (-) can be used to separate multiple costs. 46

47 P-Cards When a Purchase Order is entered for P-Card payment, assets should be entered on separate lines. The asset lines should have Receiving Required, the AM Business Unit, and the Profile ID. The Buyer should notify the Asset Processor about any asset purchases made on a P- Card. 47

48 Purchasing & Asset Integration by Role After a Requisition or Purchase Order created and saved, Approvers should verify the accuracy of asset fields as part of their approval responsibilities. 48

49 Purchasing & Asset Integration by Role After the PO has been approved, the Asset Processor will verify all asset information on the PO and make any necessary changes. Once the asset is received, changes can no longer be made to the PO by the Asset Processor. After the asset is loaded into the Asset Management module, the Asset Expenditure Account can no longer be viewed. 49

50 Asset Processor Runs the PO Capital Asset Query and the Controllable Asset Query Changes to the Location, AM Unit, Profile ID and Tag Number fields can be made on a PO without re-initiating the approval process. Changes made to the Asset Expenditure Account on the PO will require the PO to pass Budget Check. 50

51 Running Queries Navigation: FIN Reporting Tools > > Query > Query Viewer The CT_IDENTIFY_ASSETS_IN_PO and CT_IDENTIFY_CNTRL_PO queries should be run on a daily basis to review approved or dispatched Purchase Orders that contain asset information. If asset information is found to be missing or incorrect, the Asset Processor can go into the PO to correct the information at this time. Changes to the Location, AM Unit, Profile ID and Tag Number can be done on the Purchase Order without sending the PO through the approval process. Changes to the Asset Expenditure Account on the Purchase Order will require that the PO go through the budget check process again. Remember, Asset Processors cannot make changes to a PO once an asset has been received. This is also the last opportunity you will have to view and/or edit the Asset Expenditure Account Code. 51

52 ASSETS IN PO QUERY The Identify Assets in PO Query lists all Capitalized Personal Property that appear on approved or dispatched Purchase Orders with Capitalized Asset Account codes beginning with 55. HTML allows you to download the report information in either Excel Spreadsheet or CSV Text File format. In this example, click the Excel link to download the report to Excel. When you click on Excel, a new window opens with prompts. 52

53 ASSETS IN PO QUERY Enter the Business Unit, From Date, and To Date. These values do not save, therefore, you may want to use a date log book to keep track of the last date entered. You need to enter new prompt values every time you run this query. The From Date and To Date values represent the PO Approval Dates that fall within the specified date range for POs that contain capitalized Asset Expense Accounts. Click the View Results button to display the Identify Assets in PO Query in Excel format. The Excel spreadsheet allows you to manipulate data to suit your needs. You have the ability to sort by PO Number, Account, Profile ID, PO Qty, and Department. 53

54 ASSETS IN PO QUERY Review all Asset Expenditure Accounts and Profile IDs. All capitalized Asset Expense Accounts begin with 55 and the appropriate Profile ID should be displayed for each Purchase Order listed. 54

55 CNTRL ASSETS PO QUERY The Identify CNTRL Assets PO Query lists all Controllable Personal Property that appear on approved or dispatched Purchase Orders with the Controllable Asset Account HTML allows you to download the report information in either Excel Spreadsheet or CSV Text File format. In this example, click the Excel link to download the report to Excel. When you click on Excel, a new window opens with prompts. 55

56 CNTRL ASSETS PO QUERY Enter the Business Unit, From Date, and To Date. These values do not save, therefore, you may want to use a date log book to keep track of the last date entered. You need to enter new prompt values every time you run this query. The From Date and To Date values represent the PO Approval Dates that fall within the specified date range for POs that contain capitalized Asset Expense Accounts. Click the View Results button to display the Identify CNTRL Assets PO Query in Excel format. The Excel spreadsheet allows you to manipulate data to suit your needs. You have the ability to sort by PO Number, Account, Profile ID, PO Qty and Department. 56

57 CNTRL ASSETS PO QUERY Review all Asset Expenditure Accounts and Profile IDs. Only one controllable Asset Expense Account, 54150, and Profile ID, 1CNTRLITEM should be displayed in this Query for each for each Purchase Order listed. In this example incorrect or missing Profile IDs have to be changed. The correct Profile ID is 1CNTRLITEM. The Asset Processor navigates to the Add/Update PO s page to correct this error. We will show you how to Add/Update POs in the next section 57

58 Adding a Query to Your Favorites If you have access to multiple queries, you can add these Asset queries as Favorites. Click the Favorite link that appears in the same row of the query you want to add. 58

59 Adding a Query to Your Favorites The query added to your Favorites appears below the Query group box in a separate My Favorite Queries group box. Notice that adding a query to your Favorites does not remove the query from the Query listing. You can access the query in both group boxes. To delete a query from My Favorite Queries, click the minus sign in the Remove field. 59

60 Practice Exercise Exercises 1 & 2 Scenario: Running Capitalized and Controllable PO Queries Associated Job Aids: Running and Viewing the PO Queries (Capitalized and Controllable Asset Queries) 60

61 Correcting PO Errors Changes to the Location, AM Unit, Profile ID and Tag Number fields on a PO can be made without re-initiating the workflow process. Changes to the Asset Expenditure Account on the PO will require Budget Check to run again. Corrections to POs must be completed prior to Receiving. Once assets are received, do not make any changes to the PO. 61

62 Correcting PO Errors Navigation: Purchasing > Purchase Orders > Add/Update POs 62

63 Correcting PO Errors Enter the Business Unit if it does not default. Enter the PO ID from the Asset Query results you want to correct. Click the Search button to access the Purchase Order page. 63

64 Correcting PO Errors Click the Schedule icon to access the Schedules page. 64

65 Correcting PO Errors Click the Distributions/Chartfields icon to access the Distributions for Schedule 1 page. 65

66 Correcting PO Errors Change the asset expenditure Account on the Chartfields tab, if necessary. If the asset expenditure Account is changed, the PO Budget Check must run again. 66

67 Correcting PO Errors Change the Location code on the Details/Tax tab, if necessary. The Location can be changed without re-initiating the PO workflow process. 67

68 Correcting PO Errors Change the AM Unit, Profile ID and Tag Number on the Asset Information tab, if necessary. Verify that the Capitalize check box is selected for all assets. The AM Unit, Profile ID, Tag Number, and Capitalize check box can be changed without re-initiating the PO workflow process. Click the OK button to return to the Schedules page. 68

69 Correcting PO Errors Click the Save button. Edits to the PO will be saved. 69

70 Practice Exercise Exercise 3 Scenario: Correcting PO Errors Associated Job Aids: None 70

71 Purchasing & Asset Integration by Role After the PO is dispatched, the Asset Processor reviews the asset information on the Purchase Order, and the assets are physically received by the agency, asset receipts can be created by the Receiver. It is extremely important that the Asset Processor review asset information on the Purchase Order prior to the assets being received in Core-CT. If an asset did not get identified on the Requisition or Purchase Order, the Receiver will not be able to access asset information to enter a Tag Number or Asset ID for that asset. 71

72 Casual/General Receiver Receives the asset against the PO Manually enters the Asset ID and Tag Number on the Receipt, if applicable In order for the Receiver to complete the Receiving process accurately, it is important for them to obtain updated Controllable Asset listings for their agency. 72

73 Asset Receipts The Receiver will be able to tell if the purchased items are designated as assets if the Pending link is visible in the AM Status field on the Receipt line. The Pending link in the AM Status field is only activated if Asset Information for a specific line item was entered on the Requisition or Purchase Order. The Receiver cannot enter a Tag Number or Asset ID if the Pending link does not display. 73

74 Asset Receipts In this example the Distributed Quantity is 1. This is important because it affects how the Receiver assigns Tag Numbers and Asset IDs. 74

75 Asset Receipts Single Quantity Because there is a single quantity and the Tag Number field did not populate, the Receiver enters a value that will be used for agency tracking purposes in the Tag Number field. The Receiver then enters the same value in the Asset ID field. The Asset ID is for Core-CT tracking purposes. 75

76 Asset Receipts Multiple Quantity X In this example the Distributed Quantity is 5. This is important because it affects how the Receiver assigns Tag Numbers and Asset IDs. Multiple quantities cannot be separated by adding rows. This will cause a matching (Receiver-Voucher) error when the Load Assets batch process is run. This matching error will result in the inability of the assets to be interfaced into the Asset Management module. Because the quantity is not being separated, the Receiver leaves the Tag Number field blank and the Asset ID field default of Next. The Asset Processor will separate the assets, assign Tag Numbers, and assign Asset IDs once the voucher has been posted. A Receiver can assign Tag Numbers and Asset IDs to multiple quantities if they receive each asset individually (partial quantity). Then, Tag Numbers and Asset IDs can be assigned to each asset as a single quantity. 76

77 Purchasing & Asset Integration by Role After the asset is received, the Voucher Processor creates a Voucher so the asset(s) can be paid for. We will only review the fields on the Voucher that affect the Asset Management (AM) integration process. We will begin by taking a look at what the Voucher Processor is responsible for in the AM Integration process. 77

78 Voucher Processor Creates the Voucher In order to capture all necessary asset information on the Voucher, it is important to use the Worksheet Copy (PO Receipt) Reviews all asset information In order for the Voucher Processor to complete the Voucher process accurately, it is important for them to obtain updated Controllable Asset listings from their agency. This is the last opportunity to load assets into the Asset Management module through the financial integration process. 78

79 Asset Vouchers Single Quantity It is important for the Voucher Processor to make sure that the Asset check box is selected for all assets on the Invoice Information page. This allows the Load Assets process to pick up flagged items and send them over to the Asset Management Loader staging tables. In this example the asset purchase is for a single quantity. Asset IDs should always be assigned for a single quantity. If the Asset ID defaults to NEXT for a single quantity, it should never be changed on the Voucher. The Voucher and Receipt must always match. Unless the Receiver edits the Asset ID on the Receipt, the Asset ID must be left as NEXT. The Sequence Number field should always be left blank. X Important! The Invoice Date is the date that the Invoice is physically received by the agency. This date loads into the AM module as the In-Service/Acquisition Date and determines the start month of the depreciation schedule for the asset. 79

80 Asset Vouchers Multiple Quantity In this example the asset purchase is for a multiple quantity. Asset IDs should never be assigned for multiple quantity purchases. Therefore, the Asset ID should always default to NEXT. The Asset ID should never be changed on the Voucher. The Voucher and Receipt must always match. The Sequence Number field should always be left blank. 80

81 Voucher Processor Has the last opportunity to integrate an asset into the Asset Management module through Purchasing/Procurement. Can identify a voucher line by selecting the Asset check box if the asset did not get identified on the PO or Receipt. 81

82 Identifying Assets on Vouchers If an asset does not get identified on a Requisition or PO, the Asset check box on the Assets tab of the Invoice Information page can be selected to activate the asset fields. 82

83 Identifying Assets on Vouchers The Voucher Processor can enter the AM Unit and Profile ID. Leave the default value of NEXT in the Asset ID field. This will allow the asset to load into the Asset Management module without creating a matching error between the Voucher and Receipt. The Voucher Processor should notify the Asset Processor that an asset will be loaded into the AM module without a Tag Number or Asset ID. The Sequence Number field should always be left blank. 83

84 Purchasing & Asset Integration by Role Once the Voucher has been posted, the asset information is loaded into the Asset Management staging tables through an overnight batch process. After the Asset Processor previews the information loaded into the staging tables, a Transaction Loader process will be run. This process will move the asset information from the staging tables into the Asset Management 84 module.

85 Asset Processor Previews the Physical A and Financial Loader staging tables Consolidates and/or Unitizes assets Runs the Transaction Loader process to move asset information from the staging tables to the Asset Management module Reviews assets in the Asset Management module The Physical A Loader table is used to review and approve physical asset information The Financial Loader table is used to review and approve financial asset information Consolidate Combines separated component costs of an asset into one asset cost. Example: Combines the individual costs of a CPU, monitor, keyboard, mouse and speakers into the total cost of one asset. This allows for one Tag Number and Asset ID to be assigned to the computer. Unitize Separates assets that have been combined in order to assign individual Tag Numbers and Asset IDs to each asset. Example: Separates a quantity of five desks that were purchased and received as a single transaction. This allows for separate Tag Numbers and Asset IDs to be assigned to each desk. 85

86 Review Physical A Staging Tables Navigation: Asset Management > Send/Receive Information > Approve Physical Information > Review-A The Physical A staging table should be reviewed on a daily basis. This table is used to review physical asset information. It also provides the Asset Processor with the necessary information needed to make informed decisions in regards to Consolidation, Unitization, and the assignment of Tag Numbers and Asset IDs. The Physical A staging table contains the following information for each asset: Description, Asset ID, Tag Number, Profile ID, Quantity, Amount, and PO, Receipt, Invoice and Voucher information. 86

87 Review Physical A Staging Tables On the Review-A, Find an Existing Value page, enter your Business Unit if it does not default. Select AP Online Entry Page in the System Source field. If you leave this field blank, your Physical Inventory will display in the Search Results along with all the Pending assets. Select Pending in the Load Status field. This value should always be used for your initial search. Click the Search button to view the Pending assets. 87

88 Review Physical A Staging Tables Pending assets appearing on this list need to be reviewed for accuracy. Important! The Date/Time Stamp is the date and time of the batch process that populated this table. It is not the Accounting Date of the transaction. Click any link on the line to review the asset details. 88

89 Review Physical A Staging Tables Review all asset integration fields: Business Unit, Asset ID, Tag Number, Profile ID and Location. It is also important to look at the Quantity. This will assist in the decision to Unitize or Consolidate the assets. In this example the Asset ID and Tag Number weren t entered on the Receipt due to the Quantity. The assets will have to be Unitized in order to assign separate Asset IDs and Tag Numbers for each computer. Print this screen or write down the Interface ID, Description, Profile ID, PO No., Receipt No., Voucher ID and Quantity. This information is used to reference specific assets during consolidation and unitizing processes. To print the screen: push the Print Screen button on your keyboard while displaying the screen; minimize the application; open a blank Word document; right mouse click, select Paste and print the new Word 89 document.

90 Review Financial Staging Tables Navigation: Asset Management > Send/Receive Information > Approve Financial Information > Review The Financial staging table should be reviewed on a daily basis to view the Accounting Date and chartfields associated with pending assets. The Accounting Date is extremely important because all assets in the staging tables must be loaded into the Asset Management module by the 10 th of the following month (Month End). If these assets are not loaded into AM by Month End, they will have to be manually entered through Basic Add. These assets will not be reflected in the appropriate monthly reports. The Financial staging table contains the following information for each asset: Fund Code, Department, Special ID, Program Code, Chartfields, Budget Reference, Project, Trans Date, Acctg Date, Cost and Quantity. The Asset Expense Account can not be viewed from this table. 90

91 Review Financial Staging Tables On the Review, Find an Existing Value page, enter your Business Unit if it does not default. Select AP Online Entry Page in the System Source field. If you leave this field blank, your Physical Inventory will display in the Search Results along with all the Pending assets. Select Pending in the Load Status field. This value should always be used for your initial search. Click the Search button to view the Pending assets. 91

92 Review Financial Staging Tables Click any link on the line to view the asset details. 92

93 Review Financial Staging Tables In this example the Accounting Date is 7/25/07. This date is important because the asset will need to be loaded into the Asset Management module by the 10 th of August. The Department is an important source for specific agency reporting and tracking. Core-CT sends out an reminder to agency asset contacts approximately one week prior to each month end close date. 93

94 Putting Assets On Hold To put assets On Hold, navigate to Review Physical A tables and select the Pending asset to put on hold. Change the Load Status field from Pending to On Hold if you do not want a purchase to load into the AM module at this time. Click the Save button. You will need to change the Load Status back to Pending when you are ready to load the asset into the AM module. Important: Physical A and Financial staging table information must always match so the Load Type/Status field has to be changed to On Hold on the Financial staging table also. 94

95 Putting Assets On Hold Navigate to Review Financial tables and select the Pending asset to be put on hold. Change the Load Type/Status field from Pending to On Hold. Click the Save button. Once the page is saved, the asset will not load into the Asset Management module when the Transaction Loader process is run. You will need to change the Load Status back to Pending when you are ready to load the asset into the AM module. Important: Physical A and Financial staging table information must always match. 95

96 Removing Assets from Staging Tables To remove an asset from the staging tables, navigate to Review Physical A tables and select the Pending asset to be removed. Change the Load Status field from Pending to Errored. Click the Save button. Important: Physical A and Financial staging table information must always match so the Load Type/Status field has to be changed to Errored on the Financial staging table also. 96

97 Removing Assets from Staging Tables Navigate to Review Financial tables and select the Pending asset to be removed. Change the Load Type/Status field from Pending to Errored. Click the Save button. Once the page is saved, the asset will not load into the Asset Management module when the Transaction Loader process is run. Important: The Physical A and Financial staging table information must always match. 97

98 Practice Exercise Exercise 4 Scenario: Reviewing Physical A and Financial Staging Tables Associated Job Aids: Load Preview Physical Transactions A Load Preview Financial Transactions 98

99 When Are Assets Consolidated? Whenever the acquisition price and ancillary costs of an asset are separated. Whenever the component parts of an asset are separated. Whenever the cost of an asset is split due to different funding sources. Consolidating an asset combines all costs of an asset separated during the Purchasing process into one asset cost. 99

100 Consolidation Example In the example above, a new vehicle was purchased. The purchase price of the vehicle was entered on Line 1 of the PO. The Extended Warranty and the Option Package (ancillary costs) were entered on Lines 2 and 3. This is also how the assets were loaded into the loader staging tables. The ancillary costs must be consolidated with the purchase price so that all costs associated with the asset will be reflected in the total cost in the AM module. By consolidating these costs, one Asset ID and Tag Number can be assigned. In the Asset Management Integration for Financial Roles course, Requesters and Buyers are encouraged to enter the purchase price, ancillary costs and component parts of an asset onto one line whenever possible. By entering all associated asset costs onto one line, the chance of Receiving errors and the need to consolidate costs later in the integration process can be minimized. 100

101 Consolidation Example In the example above, three different department codes were used to split the cost (50%, 25%,25%) of one vehicle. Costs need to be separated on the Purchase Order due to the different department codes, however; in the Asset Management module, all costs must be consolidated so that they will be reflected in the total cost of the asset. This also allows one Asset ID and Tag Number to be assigned. The Consolidation process will not affect the Chartfield distribution detail. 101

102 Consolidating Assets Navigation: Asset Management > Send/Receive Information > Approve Physical Information > Review-A We will navigate to the Physical A staging table to identify the Interface ID and Interface Line Number. 102

103 Reviewing Consolidated Assets (Prior) Select Pending in the Load Status drop down box. Click the Search button. Prior to Consolidation, the asset costs appeared on two separate Pending lines. Make sure to take note of the Interface ID and the PO Number when reviewing the line information. You will reference these throughout the Consolidation process. 103

104 Consolidating Assets Navigation: Asset Management > Send/Receive Information > Load Transactions > Consolidate Assets Now that the Interface ID has been noted from the Physical A staging table, navigate to the Consolidate Assets page to consolidate the assets. 104

105 Consolidating Assets X Remove the 0 default Click Add Select the Add a New Value tab. Do not use the Find an Existing Value tab. Very Important! Delete the 0 value that defaults in the Interface ID field. Click the Add button. 105

106 Consolidating Assets Select PO Number from the Field Name drop down list and enter the PO ID in the Value field in the FROM Assets Search Criteria group box. Click the Search button. 106

107 Consolidating Assets The FROM Assets page displays the separated asset costs from the Purchase Order that are to be consolidated into one asset. Click on the minus sign at the end of a row to remove costs you do not want consolidated. The total costs of the FROM Assets page and the total costs of the TO Asset page must always equal. Click the TO Assets tab to review the total consolidation cost. 107

108 Consolidating Assets The Quantity field reflects the number of assets from the lines selected on the FROM Assets page and the Cost field reflects the combined total cost of those lines. The Description field will display the description of the last line selected on the FROM Asset page. You can update the description on this page. After verifying that the FROM Assets page and the TO Assets page equal, click on the Save button. 108

109 Reviewing Consolidated Assets Navigation: Asset Management > Send/Receive Information > Approve Physical Information > Review-A Now that the Consolidation process is complete, navigate to the Review Physical A page to review the consolidated assets. 109

110 Reviewing Consolidated Assets (Prior) Prior to Consolidation, the asset costs appeared on two separate Pending lines on the Physical A staging table. 110

111 Reviewing Consolidated Assets (After) On the Review-A, Find an Existing Value page, enter the original Interface ID noted at the beginning of the process. Click the Search button. After Consolidation, the Load Status changed from Pending to Consolidated on the two separate lines. A new Pending line has been created for the single asset. This new line will be the one that gets loaded into the Asset Management module during the Transaction Loader process. 111

112 Practice Exercise Exercise 5 Scenario: Consolidating Assets Associated Job Aids: Consolidating Assets 112

113 When Are Assets Unitized? Whenever multiple assets have been combined and need to be separated. Unitizing assets will separate assets that have been combined in the Purchasing process and assign individual Tag Numbers and Asset IDs to each asset in the AM module. 113

114 Unitizing Example In this example, five notebooks are purchased and entered onto one PO line. This is how the assets will be loaded into the asset loader staging tables. By Unitizing these assets, each notebook can be assigned a unique Asset ID and Tag Number. 114

115 Unitizing Assets Navigation: Asset Management > Send/Receive Information > Approve Physical Information > Review-A We will navigate to the Physical A staging table to identify the Interface ID and Interface Line Number. 115

116 Reviewing Unitized Assets (Prior) Select Pending in the Load Status drop down box. Click the Search button. Prior to Unitizing, the assets appear on one Pending line. Make sure to take note of the Interface ID. You will use this ID throughout the Unitizing process. 116

117 Unitizing Assets Navigation: Asset Management > Send/Receive Information > Load Transactions > Unitize Assets Now that the Interface ID has been noted from the Physical A staging table, navigate to the Unitize Assets page to unitize the assets. 117

118 Unitizing Assets Enter the Interface ID from the Physical A staging table. If you do not enter a specific PO Number or Voucher ID, all pending assets for that Business Unit and Interface ID will appear in the Search Results. Click the Search button. 118

119 Unitizing Assets In this example, there are five assets that need to be separated in order to assign individual Tag Numbers and Asset IDs. Select the assets by clicking on the appropriate Interface Line Number link. 119

120 Unitizing Assets Prior to Unitizing, there is one page of asset information for five assets. Click on the EZ Unitize button on the FROM Asset page to separate the assets. 120

121 Unitizing Assets The Proportional Unitization Defaults window displays. Enter the Quantity from the Physical A information. Do not enter the Profile ID and Description. They will default to the next page. Click the OK button. 121

122 Unitizing Assets The TO Assets page displays the unitized assets. By Unitizing the assets, each notebook displays on a separate page (1 of 5). Each one must be assigned a unique Asset ID and Tag Number. Do not click on the Plus sign to get to the next page. This will add another asset line. Click the View All link or the next page icon to display the next asset. 122

123 Unitizing Assets Enter a unique Asset ID and Tag Number for each asset. Important! Asset IDs and Tag Numbers must be entered for each asset prior to saving. If you do not enter the Asset IDs and Tag Numbers for all of the assets and click the Save button, CORE-CT will auto assign the remaining Asset IDs. You will not be able to access or edit any of these auto assigned values. This means that your Tag Number and Asset ID may not match. While reviewing the information on this page, you can enter specific information such as the Serial ID. If you change the Cost of an individual asset, the total costs for all five assets must still equal the original total cost of the five assets prior to any changes made. Click the Save button to complete the Unitizing process. 123

124 Reviewing Unitized Assets Navigation: Asset Management > Send/Receive Information > Approve Physical Information > Review-A Now that the Unitizing process is complete, navigate to the Review Physical A page to review the unitized assets. 124

125 Reviewing Unitized Assets (Prior) Prior to Unitizing, the assets appeared on one Pending line on the Physical A staging table. 125

126 Reviewing Unitized Assets (After) On the Review-A, Find an Existing Value page, enter the original Interface ID noted at the beginning of the process. Click the Search button. The Load Status changed from Pending to Unitized on the one line. New Pending lines were created for each of the separated assets. These new lines will be the ones that get loaded into the Asset Management module during the Transaction Loader process. 126

127 Practice Exercise Exercise 6 Scenario: Unitizing Assets Associated Job Aids: None 127

128 Combining Consolidation and Unitizing Sometimes asset costs have to be Consolidated first and the quantity of assets have to be Unitized afterward. In this example, the Buyer split the purchase price and ancillary costs of two vehicles and entered them on separate PO lines. This is how the asset information was loaded onto the AM staging tables. The purchase price and ancillary costs have to be Consolidated so that all costs associated with the asset are reflected in the total cost. After consolidation, the quantity will need to be Unitized in order to split the costs and assign unique Asset IDs and Tag Numbers to each asset. 128

129 Running the Transaction Loader Navigation: Asset Management > Send/Receive Information > Load Transactions > Load Transactions into AM After assets are Consolidated and/or Unitized, the Transaction Loader process must be run to load the assets from the AM staging tables into the AM module. 129