Asset Management Training: Core Users

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Asset Management Training Core Users

• Day 2

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Agenda Day 2
Review Day 1 Activities
Questions from Day 1
Depreciation
Break
Daily Tasks
Weekly Tasks
Lunch
Monthly Tasks
Capital Projects Scenario
Break
GL Allocations
Discuss Department User Responsibilities
Wrap-up Course Evaluation
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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.
Item Invoice Received
PO Created
Voucher Paid
Asset Cost Migrated to AM module
Asset Details Migrated to AM module
Pre-Asset Management Tables
Interface Tables
Weekly job runs 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.
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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.

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Agenda Day 2
Review Day 1 Activities
Questions from Day 1
Depreciation
Break
Daily Tasks
Weekly Tasks
Lunch
Monthly Tasks
Capital Projects Scenario
Break
GL Allocations
Discuss Department User Responsibilities
Wrap-up Course Evaluation
6

• Calculate Depreciation

• PeopleSoft calculates depreciation based on the
  data populated in specific fields for each
  capitalized asset. These fields are
• Depreciation Method
• Convention
• Depreciable Basis
• Useful Life
• In-Service Date
• Depreciation calculations are recorded in
  entities called Books within AM.
• U of C will use one Book for depreciation
  expense, called CORP.
• The Corporate book will be the source of
  depreciation expense in the General Ledger.

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Policy Procedure Changes

• The useful life of equipment assets and capital
  betterments is being changed by U o f C for
  fiscal 2005. These changes are being
  incorporated into AM profiles.
• U of C will commence/cease depreciation in the
  month following asset purchase/disposal. For
  disposal, the following month convention is
  applied by the system to process depreciation up
  to and including the month of disposal.
• Depreciation will always be recorded as of the
  last day of the month.
• Assets with a profile of new building
  construction, building renovations, site
  improvements, leasehold improvements, and
  utilities will be assigned to a non-depreciable
  category temporarily. Campus Infrastructure will
  be required to advise AM staff of project
  completion. AM staff will then reassign the
  asset to a depreciable category through AMs
  recategorization process.

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Agenda Day 2
Review Day 1 Activities
Questions from Day 1
Depreciation
Break
Daily Tasks
Weekly Tasks
Lunch
Monthly Tasks
Capital Projects Scenario
Break
GL Allocations
Discuss Department User Responsibilities
Wrap-up Course Evaluation
9
Daily, Weekly, Monthly Tasks
Refer to UPK and to AM Queries Analysis
Document that is being developed for you (latter
document will be ready week of Aug. 2).
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Agenda Day 2
Review Day 1 Activities
Questions from Day 1
Depreciation
Break
Daily Tasks
Weekly Tasks
Lunch
Monthly Tasks
Capital Projects Scenario
Break
GL Allocations
Discuss Department User Responsibilities
Wrap-up Course Evaluation
11
Although you have already learned how to perform
steps relevant to Capital Projects in PeopleSoft,
there are several points to keep in mind.
Capital Projects

• Consolidation of Assets will be a large part of
  Campus Infrastructure (CI) projects. The CI
  group has been provided with instructions to
  enter the Asset ID at receipt of goods/services.
  This will cause new costs to be consolidated to
  an existing asset ID and will eliminate some of
  the consolidation that would otherwise be
  required on your end.
• Requested that CI inform you when projects are
  complete.
• When you receive notification that projects are
  complete, follow the recategorization steps
  outlined in Asset Maintenance in UPK (see next
  slide for more details).

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Capital Projects
Change Category from work in progress to
depreciable category (see chart below for
details). For steps on recategorization, go to
UPK Asset Maintenance and select the lesson
highlighted below.
Category
Profile ID
BLDG NEW    B WIP then BLDG BLDG RENO    B
WIP then BLDG CAP UTILTY    UTWIP then UTIL
LSHD IMPRV    B WIP then BLDG SITE IMPRV   
STWIP then SITE
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Agenda Day 2
Review Day 1 Activities
Questions from Day 1
Depreciation
Break
Daily Tasks
Weekly Tasks
Lunch
Monthly Tasks
Capital Projects Scenario
Break
GL Allocations
Discuss Department User Responsibilities
Wrap-up Course Evaluation
14
GL Allocations
Refer to UPK, Batch Schedule Job Aid, and to AM
Queries Analysis Document that is being
developed for you (latter document will be ready
week of Aug. 2).
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Agenda Day 2
Review Day 1 Activities
Questions from Day 1
Depreciation
Break
Daily Tasks
Weekly Tasks
Lunch
Monthly Tasks
Capital Projects Scenario
Break
GL Allocations
Discuss Department User Responsibilities
Wrap-up Course Evaluation
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Department User Responsibilities
The following slides include some of the content
covered in the Department User Training. These
are included for your information so you know
what we have communicated to the AM Department
users.
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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.

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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