Asset Management Training: Department Users

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Asset Management Training Department Users
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• 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

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

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• 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.

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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.

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• 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

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

• Questions