Post on 18-Jul-2015
Fixed Assets – Capital Outlay Reconciliation Process (1/7/2013)D
ep
art
me
nts
an
d IT
Acco
un
tin
g S
erv
ice
s –
Fix
ed
Asse
ts a
nd
Acco
un
ts P
aya
ble
START
Department enters an Encumbering
Document into the Advantage System
and Assigns a Commodity Code
Value of Item Purchased is Less
Than $3,500
New Fiscal Year Begins with a Balance
for Non Depreciable and Depreciable
Assets
Purchase Document Processed
through Workflow in Advantage
AP Creates the Payment Document in
Advantage – Determines Need to
Generate a Shell(s)
END
Applicable to One Time Purchases (those that are capitalized or not)
Value of Item Purchased is $3,500
or More, but not qualifying as a
Fixed Asset
Value of Item Purchased is $3,500
or More and qualifies as a Fixed
Asset
Current rule is one item – one line – one shell; all other
instances multiple shells. If AP rejects the document at this
point, it returns to Department and a shell is not created
FA Checks Advantage Daily
for New Shells
IT - Batch Run Creates Fixed Asset Shells
and Updates Balances of Non Depreciable
and Depreciable Assets
Future: Report Alerts FA to
New Shells
FA Opens Shell – Reviews
Encumbering Document as
to Purchase Type and Value
Fixed
Asset?
FA – Un Pend Shell
FA Completes the Set Up of the Shell for
the Fixed Asset. User Selects Submit
Note: FA has a number of shells in
the system that user tried to un pend
the shell and got an error message
yes
no
Error(s)?Shell Document is Workflowed for
Review and Approvalyes
Typically errors; use of a subactivity and
added payment lines. Note: we do not have
the “no” step identified
There are shell documents in the
system that have error messages
and preventing shell documents for
fixed assets from updating balances
$5,000 is the capital
threshold, but it was
determined that the
break would be at
$3,500 (should this be
revisited?)
This work process is “extremely”
dependent upon the appropriate
Commodity Codes being flagged
in the system and the
Department selecting the correct
Commodity Codes
When a 1x purchase has multiple
payments, FA considering the use of
FA01=new and FA02=betterment
Fixed Assets – Capital Outlay Reconciliation Process (1/7/2013)D
ep
art
me
nts
an
d C
ost T
ea
mA
cco
un
tin
g S
erv
ice
s –
Fix
ed
Asse
ts a
nd
Acco
un
ts P
aya
ble
START
Department enters an Encumbering
Document into the Advantage System –
Uses Program/Phase Accounting
New Fiscal Year Begins with a Balance
for Non Depreciable and Depreciable
Assets
AP Creates the Payment Document in
Advantage
END
Applicable to Purchases Allocated to a Program/Phase. These
purchases are assigned to a commodity code in the Financial system
that are flagged as “Fixed Asset”
IT - Batch Run Creates Fixed Asset Shells
and Updates Balances of Non Depreciable
and Depreciable Assets
This work process is “extremely” dependent upon
the appropriate flag during the set up of the
Program/Phase and Accurate Accounting at
Program/Phase levels associated with Fixed Assets
Cost Team Sets Up the Program/Phase
and Flags that Fixed Assets are Related
FA sets up the FA Document Currently, there is no trigger in FIN that tells
FA that a Program/Phase (flagged as
associated with fixed asset purchases) has
been entered into the system
There are a number of Program/
Phase fixed asset expenditures
in the system that are not
associated with an FA document.
That’s because the encumbering
document/payment process
happened before FA was aware
that an FA document was
needed