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Asset Management Training: Department Users

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Understand the changes to your role & responsibilities ... transfers, control when work in process capital assets commence depreciation. ... – PowerPoint PPT presentation

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Title: Asset Management Training: Department Users


1
Asset Management Training Department Users
2
  • By the end of this training session, regarding
    Asset Management, you should. . .
  • Understand the process changes
  • Understand the changes to your role
    responsibilities
  • Know how to perform relevant PeopleSoft steps
  • Be aware of relevant policy changes

3
Agenda
Policy Changes
Interfaces
Department User Responsibilities
PeopleSoft Steps (UPK)
Reports
Frequency of Batch Jobs
Q A
Course Evaluation
4
  • Most Significant Policy Procedure Changes

Asset Management
  • The capitalization threshold has been raised to
    5,000. Exceptions to this include art and
    books.
  • Desirable assets (i.e., computers lab
    equipment) valued between 1,000 5,000 will be
    tagged but not capitalized.
  • The AM module will produce up to date
    depreciation calculations for inquiry and
    reporting.
  • Departments will be responsible for maintaining
    asset physical information and can run their own
    capital asset reports.
  • Proceeds on capital asset disposals will no
    longer be treated as revenue, but will be
    factored into the gain/loss calculation.

5
  • Additional Changes
  • The useful life criteria for capital assets have
    been modified. This is configured by Profile ID
    in PeopleSoft.
  • Following Month is the convention used for
    acquisition, depreciation, and disposal.

6
Asset Mgmt. Enhancements
  • There will be an integrated asset recording and
    tracking system.
  • Users will have more access to asset data and
    reports.
  • There will be real-time reporting.
  • Departments can view all capital assets that they
    have funded, including construction related ones.
  • Depreciation for each asset will be posted
    monthly to the General Ledger.

7
  • There are numerous changes to Roles
    Responsibilities for AM Analysts and Department
    users.

Analysts
Department Users
  • Focus primarily on preventing errors rather than
    correcting them
  • Make use of enhanced functionality to track asset
    relationships, process single step asset
    transfers, control when work in process capital
    assets commence depreciation.
  • Will reconcile AM data with whats in feeder
    systems.
  • Will now maintain asset physical information
  • Can run their own reports

8
There are many links between modules being
implemented. The diagram below highlights the
Big Picture.
Phase 1
Billing AR
Asset Mgmt.
Accounts Payable
eProcure. Purchasing
eProj
Live 08/01/05
Data Warehouse
General Ledger
Project Costing
Expenses
eFIN
Phase 2
Phase 3
Student Admin Systems
Human Resources
  • Fit-Gap Analysis in progress
  • Report Due end of June, 2005

Live 01/2006
Time Labour
Would replace Student Information Systems (SIS)
Payroll
eBenefits
Note eProj and eFIN are not PeopleSoft
modules eProj will not be released to the
academic community until October 2005.
9
Asset details get into the Asset Management (AM)
module once the asset has been received and asset
cost information does once the voucher has been
paid.
Purchase Order Created
Item Invoice Received
Voucher Paid
Asset Cost Migrated to AM module
Asset Details Migrated to AM module
Interface Tables
Job will be run weekly to move asset information
to AM Module.
Asset Management Module
Depreciation Calculation
Some capital assets, such as Gifts-in-Kind, have
to be manually added by Asset Management
Analysts.
10
Department User Responsibilities
  • Enter physical information into PeopleSoft for
    all capital assets and desirable assets.
  • Put asset tags on items (except for Dell
    computers, which are received with tags on them).
  • Request asset disposal from Materials Management
    and inform the Asset Management (AM) Analysts of
    capital asset disposals.
  • Submit asset transfer requests to the AM
    Analysts, if applicable.
  • Inform AM Analysts if there are any financial
    changes associated with a capital asset.

11
Agenda
Policy Changes
Interfaces
Department User Responsibilities
PeopleSoft Steps (UPK)
Reports
Frequency of Batch Jobs
Q A
Course Evaluation
12
Your UPK training shows you how to run reports in
PeopleSoft Asset Management. There are other
reports available (locations highlighted below).

To find these reports go to Asset Managementgt
Financial Reports gt. . .
Although these reports are not necessarily
required for the tasks you perform, you may find
them useful.
Retirement Information
Cost Activity
Asset Transfers
Depreciation Activity
Asset Acquisition
Asset List by Location
13
If you are running additional reports, it is
important that you know when and how often batch
jobs run. This will tell you the frequency of
information update.
  • Remember that asset information is not
    immediately migrated to the Asset Management
    module.
  • A weekly job moves information from the pre-AM
    tables to the AM module.
  • Depreciation Calculation begins once the data is
    in the AM module.
  • AM reports will show weekly depreciation and net
    book value, however depreciation only hits the GL
    once a month.
  • Depreciation is recorded only by fund and account
    in the GL and is not charged to departments.

14
Agenda
Policy Changes
Interfaces
Department User Responsibilities
PeopleSoft Steps (UPK)
Reports
Frequency of Batch Jobs
Q A
Course Evaluation
15
QA
  • Questions
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