Asset Management Fiscal Software User s Guide, BSA. This section includes: REVISED DECEMBER 2014

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1 Asset Management This section includes: REVISED DECEMBER Asset Management Setup Information Asset Profiles Asset Profile Information 13.2 Adding and Maintaining Assets Add Assets Using Express Add (Recommended Method) Change/Delete Pending Transactions Correct Pending Transactions Delete a Pending Asset Edit Pending Transaction Dates 13.3 Adding/Editing Physical Attributes Using Basic Add General Information Asset Acquisition Detail Location/Comments/Attributes Manufacture/License/Custodian 13.4 Change an Asset Category 13.5 Cost Adjustments/Transfers Cost Adjustment Change a Project or Class Code Change the Location of an Asset 13.6 Retire an Asset 13.7 Additional Features Search for an Asset Asset Accounting Entries Asset Basic Information Asset Cost History Asset Depreciation Information Accumulated Depreciation Adjustment Print an Asset 13.8 Asset Processing Month-End Processing Verify Open Transactions Run Calculate Depreciation (Automated Process) View Depreciation Summary Create Accounting Entries (Automated Process) Close Depreciation (Manual Process) View Asset Accounting Entries Run Journal Generator (Automated Process) Load Depreciation Reporting Table (Automated Process) 13-1

2 13.9 Asset Management Reports Transaction Reports Depreciation Reports Account Activity Reports Accounting Entry Reports Physical Inventory Reports Retirement Reports CF (Chartfield) and RF (Report Field) Template IDs Sample Reports Fixed Asset Reconciliation Process 13-2

3 13.1 Asset Management Setup Information The Asset Management module is designed to record all assets individually and depreciate them each month for the appropriate amount. Accounting entries are generated each month to the appropriate asset accounts in the General Ledger. Asset Management stores the following types of asset information: Financial information includes details about cost, books, depreciation method and convention, and useful life. Physical information includes asset tag numbers, specifications, location, custodian, and manufacturer Asset Profiles Asset profiles function as templates to provide a quick way to enter asset information. Each profile has a unique profile ID and has several pages that describe the profile. The highlighted fields on the Definition tab shown below are an example of the default profile information set up for local councils: Asset Description: When entering an asset, the value associated with the asset will default in the Asset Description field. Asset Type: Defines the type of asset for reporting purposes. PeopleSoft delivers these asset types: Hardware, Software, Equipment, Property, Fleet, Machinery, Furniture, Facility, Intangible, and Other. When entering an asset, the value associated with the asset will appear in the Asset Type field. Acquisition Code: Selects the default acquisition code for the asset. When entering an asset, the value set at Purchased or Leased associated with the asset will appear in the Acquisition Code field. Available options are Constructed, Donated, Leased, Like Exchange, Purchased, Trade In, and Transfer. Capitalized Asset: Selects the indicator to default if the asset is a capitalized asset. The default value is Capitalized Asset. 13-3

4 The highlighted fields on the Depreciation tab shown below are an example of the default profile depreciation information set up for local councils. Many fields on this page are left blank based on the business requirements for local councils. Category: Defines the category of an asset as defined in the Local Council Accounting Manual. Examples include: Method: Defines the default depreciation method as Straight Line because the BSA has chosen this method of calculating depreciation as referenced in the Local Council Accounting Manual. Useful Life: Defines the default useful life based on the table of estimated useful life referenced in the Local Council Accounting Manual. 13-4

5 Asset Profile Information The chart below lists the available asset profiles. PeopleSoft - Asset Profile Information Asset Addition Depreciation Close Debit Credit Debit Credit Useful Class Asset Clearing Depreciation Accumulated Asset Type Profile ID PeopleSoft Asset Description Category Life Code Account Account Expense Depreciation Land LAND SVCTR Land-Service Center LANDS LAND CAMP Land-Camp LANDC Land Improvements LAND IMP S Land Improvements-Service Ctr LNDIS LAND IMP C Land Improvements-Camp LNDIC Buildings BLDGSVCTR Building-Service Center BLDGS BLDG CAMP1 Buildings-Camp-Brick/Block BLDGC BLDG CAMP2 Buildings-Camp-Wooden BLDGC BLDG CAMP3 Buildings-Camp-Steel BLDGC BLDG CAMP4 Buildings-Camp-Shelter BLDGC Leasehold Improvements LSE IMP SC Leasehold Improvements-Svc Ctr LSIMS LSE IMP C Leasehold Improvements-Camp LSIMC Furniture, Fixtures & Equipment COMPUTERS Computers-Service Center FFESC FFE SV CTR FF&Equipment-Service Center FFESC FFE CAMP FF&Equipment-Camp FFEC Motor Vehicles VEH SVCTR4 Motor Vehicles-Svc Ctr-Bus AUTOS VEH SVCTR3 Motor Vehicles-Svc Ctr-Tractor AUTOS VEH SVCTR2 Motor Vehicles-Svc Ctr-Heavy AUTOS VEH SVCTR1 Motor Vehicles-Svc Ctr-Light AUTOS VEH CAMP5 Motor Vehicles-Camp-Bus AUTOC VEH CAMP4 Motor Vehicles-Camp-ATV/Carts AUTOC VEH CAMP3 Motor Vehicles-Camp-Tractors AUTOC VEH CAMP2 Motor Vehicles-Camp-Heavy AUTOC VEH CAMP1 Motor Vehicles-Camp-Light AUTOC Aquatics Equipment EQUIPMENT Aquatics Equipment-Camp EQMT Capital Leases CAP LEASE Capital Leases CAPLS or

6 13.2 Adding and Maintaining Assets The Asset Management module is designed to record all fixed assets individually and to depreciate them each month for the appropriate amount. Asset Management stores two types of asset information financial and physical. Financial information includes cost, books, depreciation method and convention, useful life, etc. Physical information includes such things as tag number, specifications, location, custodian, and manufacturer. Asset Entry Workflow Asset entry workflow describes the steps to enter an asset into the Asset Management system. This workflow has been designed to accommodate the manual entry of an asset. Two add methods (Express Add and Basic Add) are used. The Express Add method takes advantage of the system defaults to streamline entry and Basic Add is used to enter physical attributes about the asset. Entering assets consists of a few steps. Accounts Payable: 1. Accounts Payable Transactions: Record the asset in Accounts Payable using the 1800 (unallocated asset acquisition) account. The system will debit the 1800 account and credit the 2006 (accounts payable) account. 2. Asset Management Transactions: When the asset is added in the Asset Management module, the system will debit the asset account ( based on the asset profile selected) and credit the 1800 (unallocated asset acquisition) account. Accounts Payable Debit XXX-99 (Unallocated Asset Acquisition) Credit (Accounts Payable) Asset Management xxx-99 (Furniture, Fixtures, & Equipment) XXX-99 (Unallocated Asset Acquisition) 13-6

7 Construction-in-Progress: Account 1841, Construction-in-Progress, in the Capital Fund is designed to record all costs associated with the process of building a fixed asset. For example, someone has donated the money to build a new building at camp. The accumulation of vendor invoices and contract payments will be recorded in the Construction-in-Progress account and later moved to the Buildings Camp fixed asset account. Setting up a project code for each project is recommended so that you can isolate all of the expenses related to the construction of the asset. Record the construction in progress invoices in Accounts Payable using the 1841 (Construction-in-Progress) account and the project code of the project. The system will debit the 1841 account and credit the 2006 (accounts payable) account. Accounts Payable Debit XXX-25 (Construction-in- Progress) Credit (Accounts Payable) When the construction project is completed, a journal entry must be made to record the asset transactions. 1. Journal Entry: Debit account xxx-xx (use the same project and class code that will be used when entering the asset in Asset Management). Credit account xxx-xx (use the appropriate project and class code). 2. Asset Management Transactions: When the asset is added in the Asset Management module, the system will debit the asset account ( based on the asset profile selected) and credit the 1800 (unallocated asset acquisition) account. Construction-in-Progress (Journal Entry) Debit XXX-25 (Unallocated Asset Acquisition) Credit XXX-25 (Construction-in- Progress) Asset Management (Asset Addition) xxx-25 (Buildings Camp) XXX-25 (Unallocated Asset Acquisition) 13-7

8 Add Assets Using Express Add (Recommended Method) Express Add adds assets using an asset profile for default book and depreciation information. When assets are capitalized, most of the critical information is derived from the asset profile by default, and detailed physical information can be entered later. Navigate to the Express Add menu to add an asset. Business Unit: Enter the council number in the Business Unit field. Asset Identification: Enter the desired asset number in the Asset Identification field or leave the default NEXT to accept the system-generated asset number. (Don t confuse the asset identification number with the tag number, as it is a different field.) Click the Add button. 13-8

9 Follow the steps below to add assets into PeopleSoft: 1. Profile ID: Select the asset profile ID from the lookup list. 2. Description: Enter the asset description. 3. Location: Select the location of the asset. 4. Trans Date: Typically, this date represents the date the asset is acquired. Depreciation is calculated from this date. (This date defaults to the acquisition date.) 5. Acctg Date: The date the transaction will post to the General Ledger. 6. Accum Depr in Current Pd: Check the box to have the system book accumulated depreciation for the asset to the current period. Otherwise, accumulated depreciation is booked to the previous period. If that is the case, you may need to reopen the period, calculate depreciation, and close depreciation again for prior periods. 7. Currency: System should default to USD. Rate Type: System should default to CRRNT. 8. Book Name: System should default to ACTUALS. 9. Quantity: Make this 1 to keep each asset set as a single asset ID. 10. Cost: Enter the cost or fair market value of the asset. 11. Salvage: Enter an amount, if applicable. 12. Category: Choose the category that matches the asset description. 13-9

10 13. Accum Depr: Enter the amount of depreciation already recognized. If you are adding assets that have depreciation from prior years or prior periods, enter that amount in this field. 14. YTD Depr: Enter the amount of any portion of the accumulated depreciation amount that applies to the current fiscal year. 15. Fund: Enter Project: Select the project code where depreciation expense is to be recorded, e.g., 000. Note: Chartfields (Fund, Project, and Class): When entering the funding string, this is where the acquisition and future depreciation will be recorded, so if the project code is inactivated, the asset will need to be transferred. 17. Class: Class code 25 should be entered for camp (program) related assets. Class code 99 should be entered for non-camp (unallocated) related assets. 18. Default Profile: When the Default Profile button is clicked, two additional pages will appear the Depreciation Information page and the Tax page. Information on these pages will default from the profile ID. Information on this page will default from the Profile ID. 19. Asset Type: Select a value to indicate the type of asset. The options are Equipment, Facility, Fleet, Furniture, Hardware, Intangible, Machinery, Other, Property, and Software

11 20. Asset Status: Indicate the status by selecting one of the following options: Budgeted: Asset is budgeted but not placed in service. Commitment: Budget has been approved and you are preparing to acquire the asset. Disposed: Asset is no longer in service. In Service: This is the date that the asset is available for use. Received: Asset was received but is not yet placed in service. Suspended: Depreciation has been suspended for this asset. Transferred: This asset was transferred from another business unit. WIP (work in progress): Asset is acquired for a project under way. 21. Acquisition Date: Enter the date the asset was acquired. 22. Acquisition Code: Select an acquisition code: Constructed, Donated, Leased, Like Exchange, Purchased, Trade In, or Transfer. 23. Parent/Child: If you are adding a parent or child asset, select the parent/child asset option that applies. 24. Parent ID: If this is a child asset, enter the parent asset ID with which to associate it. 25. Save: Click the Save button to save the asset. Depreciation Information: Click the Depreciation Information tab to view or edit depreciation information. The system automatically populates several of the data fields (highlighted below) displayed within the Depreciation Information tab. Information such as the method of depreciation and useful life of the asset in months and years is populated from the asset profile. The information should be verified and changes made if necessary. Many fields on this page are left blank based on the business requirements for local councils. Information on this page will default from the Profile ID. The default values for highlighted fields should not be changed with the exception of Useful Life: 13-11

12 1. Status: System default is Depreciable. 2. In Service Date: System defaults to the acquisition date. 3. Useful Life: The default value is determined from the asset profile. The period can be changed if necessary. For example, a donated asset may not have the same useful life value as assigned by the asset profile, and a different useful life value should be entered. 4. Save: Press the Save button and an asset ID will be assigned. Remember the asset ID number, as you will need it to add the physical information. Once saved, the asset is in a pending transaction status and can be deleted or edited until the end of the business day. An overnight process will calculate depreciation and create accounting entries for the asset Change/Delete Pending Transactions If an asset entry error is identified before the overnight accounting entries are processed, the asset information can be edited or deleted. Navigate to the Change/Delete Pending Trans menu to make corrections

13 Correct Pending Transactions Click the Update button to make corrections to items such as fund, class, project, category, accumulated depreciation, or cost fields. Changes can be made to any of the highlighted fields below. Click the OK button to save changes

14 Delete a Pending Asset Click the Delete button to delete a pending asset. Click OK to delete the pending asset Edit Pending Asset Transaction Dates Select the Edit Trans Info button to make changes to the transaction date or accounting date of a pending asset

15 The screen below will appear. After making changes to the transaction date or accounting date fields, click OK to save the changes Adding/Editing Physical Attributes Using Basic Add Using Basic Add is the second step in the asset add workflow. With Express Add, you have created, capitalized, and assigned an ID to a new asset. The Basic Add functionality allows you to record additional physical attributes. The following search screen appears: 13-15

16 Enter the Business Unit and the Asset Identification number assigned by the system. Press the Search button, and then click on the appropriate link in the results. Many fields on this page are left blank based on the business requirements for local councils. There are additional pages in the Basic Add function to identify and store information about the asset. They include General Information, Asset Acquisition Detail, Location/Comments/Attributes, and Manufacture/License/Custodian, and are discussed in more detail in the following sections General Information The system automatically populates several of the data fields displayed on the General Information tab. Description: Descriptive information about the asset can be edited. Short Desc: Information can be edited

17 Taggable Asset and Tag Number: These are optional. If tags are used to track assets, check the box and enter the tag number assigned to the asset. Asset Type: Select a value to indicate a type of asset. The available options are Equipment, Facility, Fleet, Furniture, Machinery, Other, Property, and Software. Asset Status: Select the appropriate asset status from the following options: Budgeted: Asset is budgeted but not placed in service. Work in Progress: Asset is acquired for a project under way. Requisitioned: Necessary paperwork has been completed for acquisition. Commitment: Budget has been approved and the asset is being acquired. Received (not in service): Asset has been received but not yet placed in service. In Service: Indicates the date the asset is available for use. The transaction date is the default. Disposed: Asset has been disposed of. Transferred: The asset has been transferred from one business unit to another. Suspended: Depreciation has been suspended for the asset. Acquisition Date: The date the asset was acquired. This field may be automatically populated. Placement Date: The date that the asset is placed in service for physical purposes

18 Acquisition Code: The acquisition code indicates how the asset was acquired. The options are as follows: Donated: Use for donated assets. Constructed: Use for constructed assets. Leased: Use to tie an asset to a capital or operating lease. You must also specify the capital or operating lease asset ID. Purchased: This option is used for purchased assets. This is the default value. Transferred: Transferred, either within the same business unit or to another business unit. Appraisal Date: This display-only field indicates the date the current fair value was updated. Replacement Cost: Indicates how much it would cost to replace the asset. Last Update: If you are calculating the replacement cost using an index, the date that you performed the last update appears here. When the asset is added, this date is the accounting date. Parent/Child: Select the appropriate option in the Parent/Child field. Parent ID: Select the appropriate option. Profile ID: Displays the asset profile that matches the asset being entered

19 Asset Acquisition Detail This page shows information about how the asset was acquired and keeps track of the separate costs and acquisition amounts of components that make up the asset. The Acquisition Detail Chartfields information page will open when the hyperlink is clicked. See the example below: 13-19

20 Location/Comments/Attributes There are optional data fields that may be used to record information pertaining to an asset. The location and physical properties of the asset (such as color, height, and weight), comments, and a stored image of the asset can be viewed or edited from this page. To change the location of an asset, click the search button and then select the location. Refer to the Managing Locations section of the user guide to create a new location or edit existing location information

21 Manufacture/License/Custodian Custodial information, license information, and manufacturer-related information can be viewed or edited on this tab

22 13.4 Change an Asset Category Periodically, it is necessary to make changes to asset records to correct errors or add newly received information. You can modify any information that has been entered about assets by navigating to the Cost Adjust/Transfer Asset menu. Business Unit: Enter the council number in the Business Unit field

23 Asset Identification: Enter the asset number in the Asset Identification field and click the Search button. If the asset number is not known, click the Search button for a listing of all assets. 1. Transaction Date: Effective date of change; enter the desired date change. 2. Accounting Date: Enter the effective date of the accounting period. 3. Action: Select Recategorize. 4. GO!: Click the GO! button. Category: Select the correct category from the drop-down list

24 Click the Save button to end the procedure

25 13.5 Cost Adjustments/Transfers Cost Adjustment Adjustments Follow these steps if you need to change price information for an asset. Navigation: Asset Management>Search for an asset Enter the asset ID or whatever information you have to retrieve the asset, and then click the search button. Select the asset by clicking the radio button next to the asset ID. Then select Asset Cost Adjust/Transfers from the drill-down menu and click the GO! button. A new window will open in which you can make the adjustment. Change Cost In the Action field, select Adjustment and click the GO! button

26 Enter the change in price in the Adjust Current Row By box, click the Apply button, then click the Save button. Note: The original asset previewed in Asset Basic Information will not reflect these changes. To review these adjustments, you must look at the Asset Cost History. Navigation: Asset Management>Search for an asset Then select Change a Project or Class Code Select Transfer in the Action box and click the GO! button: 13-26

27 Note: The original asset previewed in Asset Basic Information window will not reflect these changes. To review these adjustments, you must look at the Asset Cost History. Navigation: Asset Management>Search for an asset You can see the details of the transfer of the budget code by clicking on the Detail link. You will have to click on multiple screens to review the changes

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29 Change the Location of an Asset Navigation: Asset Management>Search for an asset Enter the asset ID or whatever information you have to retrieve the asset, and then click the search button. Select the asset by clicking the radio button next to the asset ID. Then select Asset Basic Information from the drilldown menu and click on the GO! button. A new window will open for you to make the transfer to a new location. Click on the Location/ Comments/Attributes tab. Click on the + button to insert a new effective date row, which will have the current date. Then change the location code in the Location box

30 13.6 Retire an Asset Assets are retired when they are either disposed of or no longer in use. When you retire an asset, Asset Management creates all the necessary journal entries to remove the asset s financial information. Retired assets can be reinstated at any time within the system. If the asset is not fully depreciated, depreciation will start up again from the date it is reinstated. When an asset is retired, the asset is taken off the books after the retirement has been fully processed and accounting entries have been created. No further depreciation accrues for this asset

31 Business Unit: Enter the council number in the Business Unit field. Asset Identification: Enter the asset number and click the Search button. If the asset number is not known, click the Search button for the listing of assets. Click on a listed asset to select the asset to retire

32 Click the Retire As drop-down box, and select the desired description (e.g., Casualty Loss ). Press the Go button, and the asset will be retired. Conversely, to reinstate an asset already retired, press the Reinstate button. Click Save when you are done. The following fields should be reviewed to ensure accuracy: Trans Date (Transaction Date): The transaction date reflects the date the retirement actually took place. Acctg Date (Accounting Date): The accounting date determines when the retirement transaction is posted to the general ledger. Retire As: Specify the type of retirement transaction to process by selecting from the list of disposal codes. Removal Cost: Enter the amount, if applicable. Proceeds: Enter the amount, if applicable. Click the Save button

33 13.7 Additional Features Search for an Asset PeopleSoft has added a Search for an Asset feature that allows you to search for assets based on specific criteria. From these search results, you can drill down to details in the Asset Management system. Navigation: Asset Management>Search for an Asset Enter any combination of data to narrow the search. The only required criterion is the business unit. You can retrieve additional information by clicking checkboxes under the Retrieve section (Cost Information, etc.). Press the Search button to see the results. Note: The Asset Status field defaults to In Service. Remove this criterion to search for new assets that have not been paid yet for or for disposed assets

34 A drill-down feature also becomes available to navigate you through different views and, depending on your security access, to modify information related to an asset. Basic information will appear for all assets that meet the criteria entered. The different tabs will show information for each asset, or you can select one asset by clicking the radio button, selecting one of the drill-down selections, then pressing the GO! button. A new window will open with the corresponding Asset Management screen

35 Asset Accounting Entries This option allows you to review the accounting transactions related to an asset. Select Asset Accounting Entries, then click on the GO! button. Note: The accounting entry for an asset addition DEBITS the asset account associated with the asset profile (e.g., 1822 FF&E Camp) and CREDITS account 1800 Unallocated Asset Acquisition. The accounting entry also retains the project and class codes

36 Asset Basic Information Depending on your security access, this option allows you to view or update the physical information related to the asset. Select Asset Basic Information, then click on the GO! button Asset Cost History Depending on your security access, this option allows you to view the cost history of an asset. Select Asset Cost History, then click on the GO! button

37 Asset Depreciation Information Depending on your security access, this option allows you to view the depreciation schedule for an asset. Select Asset Depreciation, then click on the GO! button. Select the Depreciation tab to view net book value and depreciation information. To calculate the net book value of the asset, enter values in the As Of Fiscal Year field and the Period field, and click the Calculate NBV (calculate net book value) button. The system will display the cost, salvage value, accumulated depreciation, and net book value for the selected asset, fiscal year, and accounting period

38 Accumulated Depreciation Adjustment Select the Period Depreciation tab to view period depreciation information. Click the Depr. Accum Adjustment link to adjust accumulated depreciation amounts. 1. Trans Date: The transaction date reflects the date the adjustment actually occurred. 2. Acctg Date: The accounting date determines when the adjustment transaction is posted to the General Ledger. 3. Depr Accum Adjustment: Enter the amount of the adjustment; enter a negative number to reduce the accumulated depreciation amount. 4. Click the Save button

39 Print an Asset Depending on your security access, this option allows you to print detailed information for an asset. Select Print an Asset, then click on the GO! button

40 13.8 Asset Processing When assets or leases are entered in Asset Management, no processing takes place. Processes must be run periodically to calculate depreciation, create accounting entries, and generate journal information. Asset Management will create journals that go into the ACTUALS ledger. The following is a list of transactions that should be run periodically Month-End Processing Month-End Procedures Navigation Process Verify Open Transactions It is a good idea to review transactions to make sure the open transactions match expectations. *Run Calculate Depreciation You must run the depreciation calculation process to calculate depreciation for every transaction you perform against an asset. Run this process as often as you like. Asset Management>Depreciation>Open Transactions> Review Asset Management>Depreciation>Proce ssing>calculate AM_DEPR_CALC *This process runs automatically each night. *Load Depreciation Reporting Tables OPTIONAL Used for delivered reports. Should run this every time you run AM_DEPR_CALC to ensure the reports are showing accurate information. *This process runs automatically each night. View Depreciation Summary OPTIONAL Good idea to spot check before creating accounting entries. Create Accounting Entries Entries may be reviewed at AM>Accounting Entries>Review Financial Entries. May prefer to process Calculate Depreciation and Create Accounting Entries daily. Note: Must run Depreciation Close to create depreciation accounting entries (see next step). Asset Management>Financial Reports>Load Reporting Tables>Depr Reporting Table Asset Management>Depreciation>Revie w Depreciation Info> Asset Depreciation Asset Management>Accounting Entries>Create Accounting Entries AMDPREPT AM_AMAEDIST 13-40

41 **Run Depreciation Close The Depreciation Close process generates period depreciation accounting entries for all depreciable assets in a particular accounting period, including lease payments and offset accounts for the period. Run this process only for an accounting period that has not yet been closed. This process can be reversed or rerun if errors are detected in the results. This is where the depreciation entries are created. This, along with the journal generator, gives you the depreciation. To check this out, go to view asset accounting entries for an asset, run this process, then view the entries again. DPR should now show for the period processed. This will have to be run for every period. **This process does not run automatically each night. View Asset Accounting Entries The Review Financial Entries page is used to review accounting entries that have been created during asset processing, such as additions, transfers, depreciation, and so forth. *Run Journal Generator Select AMDEFN Accounting Definition Name to limit entries to AM. Limit business unit selection to your business unit. *This process runs automatically each night. *Load Depreciation Reporting Tables Once you have created accounting entries for an accounting period and run journal generator, you load the depreciation reporting tables to update information on depreciation reports. *This process runs automatically each night. Asset Management>Accounting Entries> Close Depreciation Asset Management>Accounting Entries> Review Financial Entries GL>Journals>Subsystem Journals>Generate Journals Asset Management>Financial Reports>Load Reporting Tables>Depr Reporting Table AM_DPCLOSE FS_JGEN 13-41

42 Verify Open Transactions To view open transactions, navigate to Asset Management>Depreciation>Open Transactions>Review. Conduct a search of Asset Management by any criteria to narrow the field to just open items. The system keeps track of each asset and its status, so to determine the assets that need depreciation processing, change the Depreciation Calc Status to: not = Completed Depreciation. The pending transactions will be shown Run Calculate Depreciation (Automated Process) This process is run automatically overnight. This process must run to calculate depreciation for every transaction performed against an asset. This process can be run as often as needed. To run the Calculate Depreciation process, navigate to Asset Management>Depreciation> Processing>Calculate. 1. Find the run control or click the Add a New Value tab. 2. Run Control ID: Enter Calculate-Depreciation (no spaces allowed). 3. Click Add to create the run control. After initial creation, it may be searched and used in the future. You should need only one control for this effort. The following page will display: 13-42

43 Be sure to change the Process Frequency field to Always, and enter your business unit and book name (ACTUALS), then click Save. By leaving the From Asset ID and To Asset ID fields blank, you will calculate depreciation on all valid assets. Click Run to start the process and the following page will display. Click OK and go to Process Monitor to track the status

44 View Depreciation Summary It is a good idea to spot check before creating accounting entries. To do this, navigate to Asset Management >Depreciation>Review Depreciation Info>Asset Depreciation. Select an asset to review. In this instance, Asset was selected. The Depreciation tab displays the total depreciation by year. To view monthly depreciation charges for the year, select a year and click on its link. The next steps are to run the Create Accounting Entries and Depreciation Close processes

45 Create Accounting Entries (Automated Process) This process is run automatically overnight. This process will create entries for any non-depreciation-related transactions such as asset additions or retirements. This process can be run as often as needed. To run the Create Accounting Entries process, navigate to Asset Management>Accounting Entries>Create Accounting Entries. 1. Find the run control or click the Add a New Value tab. 2. Run Control ID: Enter Create-Accounting-Entries (no spaces allowed). 3. Click Add to create the run control. After initial creation, it may be searched and used in the future. You should need only one control for this effort. Enter a Run Control ID and the following page will display: Be sure to change the Process Frequency field to Always, and enter the business unit and book name (ACTUALS), then click Save. By leaving the From Asset ID and To Asset ID fields blank, you will calculate depreciation on all valid assets. Click Run to start the process and the following page will display

46 Click OK and go to Process Monitor to track the status Close Depreciation (Manual Process) This IS NOT a process that is run automatically overnight. The Depreciation Close process generates period depreciation accounting entries for all depreciable assets in a particular accounting period and offset accounts for the period. Run this process only for an accounting period that has not yet been closed. This process can be reversed or rerun if errors are detected in the results. To run the Depreciation Close process, navigate to Asset Management>Accounting Entries>Close Depreciation. 1. Find the run control or click the Add a New Value tab. 2. Run Control ID: Enter Close-Depreciation (no spaces allowed). 3. Click Add to create the run control. After initial creation, it may be searched and used in the future. You should need only one control for this effort. Enter a Run Control ID and the following page will display: 13-46

47 Make sure Process Frequency is Always, then fill in the Unit, Book Name (ACTUALS), Fiscal Year, and Period fields, and click Save. Note: You can run Depreciation Close for only one month at a time. If you have a problem, you must reverse posted entries and then rerun Depreciation Close. If this should occur, you should contact the National Support Center to work through the problem. Click Run to start the process and the following page will display: Click OK to run the process. Go to Process Monitor to track the status

48 View Asset Accounting Entries The Asset Accounting Entries page is used to review accounting entries that have been created during asset processing, such as additions, transfers, retirements, depreciation, and so forth. To view an asset s accounting entries, navigate to Navigation: Asset Management>Accounting Entries>Review Financial Entries. Enter the asset number. In this example, asset was selected. Click Search, and all the accounting entries display in date sequence. Click on the Chartfields or Journal tab to see more specific information related to the financial entries

49 Click on Detail at the end of the line and the following page will display more information about transactions, including the Journal ID that created the transaction Run Journal Generator (Automated Process) This process is run automatically overnight. Run Journal Generator and select AMDEFN Accounting Definition Name to limit entries to Asset Management. Limit the Application Business Unit selection to your business unit. The ledger to use with Asset Management is the ACTUALS ledger. Although this process runs every two hours, it can be run in the event the journal information is needed immediately. To run Journal Generator, navigate to General Ledger>Journals>Subsystem Journals>Generate Journals. 1. Find the run control or click the Add a New Value tab. 2. Run Control ID: Enter AM-Generate-Journals (no spaces allowed). 3. Click Add to create the run control. After initial creation, it may be searched and used in the future. You should need only one control for this effort

50 Enter a Run Control ID, and the following page will display: Place check marks in the boxes next to Edit and Post and enter your business unit. Complete the page as shown above with SetID: LOCAL, Accounting Definition Name: AMDFEN, and Ledger Group: ACTUALS. Click Save and then Run. Click OK

51 To view Asset Management journal entries, navigate to General Ledger>Journals>Journal Entry>Create/Update Journal Entries

52 Load Depreciation Reporting Table (Automated Process) Asset Management provides several depreciation-related reports. Before you can run depreciation reports, the process to load the Depreciation Reporting table (PS_DEPR_RPT) must run. This process is schedule to run nightly; however, you can run the process using the following steps if depreciation report information is needed before the nightly process is run. To load the depreciation reporting tables, navigate to Asset Management>Financial Reports>Load Reporting Tables>Depr Reporting Table. 1. Find the run control or click the Add a New Value tab. 2. Run Control ID: Enter the name of the run control, e.g., Depr-Reporting-Table. 3. Click the Add button

53 1. Process Frequency: Select Always from the drop-down menu. 2. From Year: Enter To Year: Enter Check the box next to Keep Other Fiscal Years. 4. Enter business unit. 5. Check the box next to Process Current Activity. 6. Click the Save button. 7. Click the Run button. Click the OK button

54 13.9 Asset Management Reports This chapter provides an overview of various PeopleSoft Asset Management reports. The following tables list the PeopleSoft Asset Management reports, sorted alphabetically by report ID within each of the following report categories Transaction Reports Asset Management Reports Description Navigation Cost Activity Report: AMAS2000 Sorts cost activity by chartfield, by category, or by account. Asset Management>Financial Reports>Cost and Depreciation> Cost Activity Report Asset Acquisitions by Chartfield Report: AMAS2100 Asset Acquisitions by In Service Date Report: AMAS2100 Assets by Location Report: AMAS2200 Assets by Asset ID Report: AMAS2210 Asset Transfers by Chartfield Report: AMAS2300 List of Asset Licenses Report: AMAS1700 Lists asset information and also includes cost, lifetime value (LTV), year-to-date (YTD) depreciation, and net book value with chartfield, book, and report totals. Lists asset information and also includes cost, lifetime value (LTV), year-to-date (YTD) depreciation, and net book value with chartfield, book, and report totals. Lists information on assets by location. Lists assets by asset ID. Lists asset transfer transactions ordered by chartfield. Lists asset licenses. Asset Management>Financial Reports>Asset Details>Acquisitions Asset Management>Financial Reports>Asset Details>Acquisitions Asset Management>Financial Reports>Asset Details>Location Asset Management>Financial Reports>Asset Details>Location Asset Management>Financial Reports>Cost and Depreciation>Asset Transfers Asset Management>Service and Maintenance>Reports>License Information Depreciation Reports Asset Management Reports Description Navigation Depreciation Activity Report: AMDP2000 Net Book Value Report: AMDP2100 Depreciation by Period Report: AMDP2200 Depreciation by Fiscal Year Report: AMDP2300 Sorts cost activity by chartfield, by category, or by account. Sorts cost activity by chartfield, by category, or by account. Sorts assets by period depreciation at asset category or book level. Sorts assets by fiscal year depreciation at asset category or book level. Asset Management>Financial Reports>Cost and Depreciation> Depreciation Activity Asset Management>Financial Reports>Cost and Depreciation >Asset Net Book Value Asset Management>Financial Reports> Cost and Depreciation >Depreciation by Period Asset Management>Financial Reports>Cost and Depreciation >Depreciation by Fiscal Year 13-54

55 Account Activity Reports Asset Management Reports Description Navigation Account Activity Summary Cost Report: AMAS2030 Lists cost and related transaction amounts per account with chartfields, book, and report totals. Asset Management>Financial Reports>Accounting Entries>Account Activity Summary Account Activity Summary Depreciation Report: AMDP2030 Account Activity Summary Net Book Value Report: AMAS Accounting Entry Reports Lists depreciation and related transaction amounts per account with chartfields, book, and report totals. Lists cost balance, year-to-date (YTD) and life-to-date (LTD) depreciation, and net book value amount per account. Asset Management>Financial Reports>Accounting Entries>Account Activity Summary Asset Management>Financial Reports>Accounting Entries>Account Activity Summary Asset Management Reports Description Navigation Accounting Entry Detail Report: AMAE2100 Lists accounting entry details. Asset Management>Financial Reports>Accounting Entries>Accounting Entry Retired as Expensed Accounting Entry Report: AMAE2102 Accounting Entry Detail Cost Report: AMAE2110 Accounting Entry Detail Depreciation Report: AMAE2120 Accounting Entry Detail Net Book Value Report: AMAE Physical Inventory Reports Retrieves accounting entry information for assets that are disposed as expensed. Lists cost and related transaction amounts per asset, with chartfields, book, and report totals Lists depreciation and related transaction amounts per asset, with chartfields, book, and report totals Lists cost balance, year-to-date (YTD) and life-to-date (LTD) depreciation, and net book value (NBV) amounts per asset. Asset Management>Financial Reports>Accounting Entries>Accounting Entry Asset Management>Financial Reports>Accounting Entries>Account Activity Summary Asset Management>Financial Reports>Accounting Entries>Account Activity Summary Asset Management>Financial Reports>Accounting Entries>Account Activity Summary Asset Management Reports Description Navigation Inventory Report (Detail Version) Report: AMDE4001 Lists detailed information about assets within inventory. Asset Management>Financial Reports>Asset Details>By Location> Inventory Report (Detail Version) Inventory Report (Short Version) Report: AMDE4002 Lists summarized information about assets within inventory Asset Management>Financial Reports>Asset Details>By Location> Inventory Report (Short Version) Retirement Reports Asset Management Reports Description Navigation Retirement by In Service Date Report: AMRT2010 Sorts retirement information with totals per in service year/period. Asset Management>Financial Reports>Retirement>Retirement Information Report Retirement Activity Report: AMRT2100 Lists retirement-related information. Asset Management>Financial Reports>Retirement>Retirement 13-55

56 CF (Chartfield) and RF (Report Field)Template IDs Activity Some Asset Management reports require a CF Template ID and an RF Template ID before the report will generate successfully. These template IDs must be added when creating the Asset Management report run control for the first time. If a Field is required message appears when you run an Asset Management report, click OK and complete the following steps. Click on the drop-down arrow in the CF or RF Template ID field. If the templates do not exist, they must be created. To create the CF Template ID, click on the Update/Add CF Template link

57 Enter a template name in the CF Template ID field, e.g., CF Template, then click the Add Template link. In the Chartfields section, edit the information in the Field Order, Include in Report, and Print subtotals columns as shown above and click OK

58 Click the Update/Add RF Template link to create the Report Field template. Enter a template name in the RF Template ID field, e.g., RF Template, then click the Add Template link

59 Accept the defaults as shown above and click OK. Click the Save button, then click the Run button

60 Check the box next to Asset Net Book Value Detail and click OK. Click the Process Monitor link

61 Check to see if Run Status shows Success and Distribution Status shows Posted. If so, click the Go back to Asset Net Book Value link to return to the main screen. Click the Report Manager link

62 Select the Administration tab and click the Asset Net Book Value Detail link to view the report

63 Sample Reports Cost Activity Detail Report AMAS2000 Page Asset Acquisition Detail by Chartfield AMAS2100 Page Asset Acquisition Detail by In Service Date AMAS2110 Page Assets by Location AMAS2200 Page Assets by Asset ID AMAS2210 Page Asset Transfers by Chartfield AMAS2300 Page List of Asset Licenses AMAS1700 Page Depreciation Activity AMDP2000 Page Net Book Value AMDP2100 Page Depreciation by Period AMDP2200 Page Depreciation by Fiscal Year AMDP2300 Page Account Activity Summary (Cost) AMAS2030 Page Account Activity Summary (Depreciation) AMDP2030 Page Account Activity Summary (Net Book Value) AMAS2130 Page Inventory Report (Detail Version) AMDE4001 Page Inventory Report (Short Version) AMDE4002 Page Retirement by In Service Date AMRT2010 Page Retirement Activity AMRT2100 Page

64 Cost Activity Detail Report AMAS

65 Asset Acquisition Detail by Chartfield AMAS

66 Asset Acquisition Detail by In Service Date AMAS

67 Assets by Location AMAS

68 Assets by Asset ID AMAS

69 Asset Transfers by Chartfield AMAS2300 List of Asset Licenses AMAS

70 Depreciation Activity AMDP

71 Net Book Value AMDP2100 Depreciation by Period AMDP

72 Depreciation by Fiscal Year AMDP

73 Account Activity Summary (Cost) AMAS

74 Account Activity Summary (Depreciation) AMDP

75 Account Activity Summary (Net Book Value) AMAS

76 Inventory Report (Detail Version) AMDE

77 Inventory Report (Short Version) AMDE

78 Retirement by In Service Date AMRT

79 Retirement Activity AMRT

80 13.10 Fixed Assets Reconciliation in PeopleSoft The following steps will aid in the fixed asset reconciliation process for councils using the PeopleSoft Asset Management module. Step Description 1 Print the Net Book Value report 2 Generate a Trial Balance in Excel format and save the file as the asset reconciliation worksheet 3 Filter asset reconciliation worksheet by Fund 2 and 18xx accounts 4 Add columns for net book value amount and variance 5 Enter asset and accumulated depreciation values from the Net Book Value report 6 Research variances between the Net Book Value report and GL accounts 7 Correct reconciliation variances Step 1. Print the Net Book Value report for the reconciliation accounting period. Instructions to print the Asset Net Book Value report are located in APP6 of the user guide. Once the Net Book Value Run Control is set up, enter the fiscal year and accounting period, and then click Run. The example shown below will produce the Net Book Value report for February Check the box next to Asset Net Book Value Detail, and then click OK

81 Navigate to the Report Manager menu, click on the Administration tab, and click on the Asset Net Book Value Detail link to open the report

82 The Net Book Value Detail report displays asset information, such as the account number, asset description, and asset ID, and account chartfield information, such as the fund, project code, and class code of each asset. The report also displays the asset cost, current month depreciation, year-to-date depreciation, life-to-date depreciation, and the net book value of each asset grouped by category. Default page breaks are set as account numbers change. The last page of the report provides report totals. To print the report, move the mouse to the lower middle portion of the report and a menu will appear. It is recommended to print the report in landscape orientation because the report font is small

83 Step 2. Generate a Trial Balance for the reconciliation accounting period and export it to an Excel spreadsheet. Save the file and rename it as the asset reconciliation worksheet. Step 3. Filter the asset reconciliation worksheet by Fund 2 and the 18xx accounts

84 Step 4. Add a column for net book value (NBV) information and a column for variance information. Step 5. Enter asset and accumulated depreciation values from the Net Book Value report to the Net Book Value (NBV RPT) and Variance columns of the asset reconciliation worksheet

85 After the Net Book Value report values are entered on the asset reconciliation worksheet, verify the asset totals entered on the worksheet to make sure they agree with the asset total displayed on the last page of the Net Book Value report

86 After the Net Book Value report values are entered on the asset reconciliation worksheet, verify the accumulated depreciation totals entered on the worksheet to make sure they agree with the LTD Depr total displayed on the last page of the Net Book Value report

87 Step 6. Research variances between the Net Book Value report values and the Trial Balance account values. There may be a variety of reasons why variances exist between the Net Book Value report and asset and accumulated depreciation account balances on the Trial Balance. The first action to take is to verify that all asset management accounting entries are created and posted. Ensure that all asset addition, adjustment, transfer, retirement, and depreciation journal entries are created and posted. If depreciation entries are missing, the Depreciation Close process will need to be run in order for the depreciation accounting entries to post