Asset Management. Overview Overview of Asset Management at UVM Overview of basic information...
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Asset Management
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Overview
Overview of Asset Management at UVM Overview of basic information stored
for an asset Asset processing activities Modifying Asset Information Inquiry & Reporting Asset Management Responsibilities
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Asset Management at UVM
Approximately 3000 pieces of moveable equipment inventoried (not capitalized)
Approximately 400 buildings Only a few software assets Approximately 300 vehicles (primarily not
capitalized) Other assets
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Basic Information Stored for an Asset Custodian
Department or Project Grant that ‘owns’ the asset Description Asset Notes/Comments UVM Tag # In Service Date Acquisition Date (or date received, if the equipment was furnished
by the Federal Government) Disposal Date Unit Acquisition Cost Manufacturer's Name/Vehicle Make Manufacturer’s Serial Number VIN Model Location
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Other Asset Info Captured Other fields used for Vehicles
License Information (Plate #, Registration #, and Title #) Production Date (Model Year) Weight
Custom Attributes (Building, Room, Condition with effective date)
Product Version - federal stock number, national stock number, or other identification number.
Ultimate disposition data, including date of disposal and sales price or the method used to determine current fair market value where a recipient compensates the Federal awarding agency for its share, will be included as a Comment.
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Asset Management at UVM All depreciation is straight line. Only moveable equipment assets over
$100,000 are capitalized and depreciated. Any moveable equipment less that
$100,000 will not be capitalized, unless the moveable equipment is included in the cost of a construction project and will be capitalized as a part of the project costs.
Renovation and construction projects over $25,000 are capitalized.
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All buildings and structures, and fixed equipment are considered fixed assets.
All fixed equipment included in the initial construction or major rehabilitation project shall be capitalized. Fixed equipment of $5,000 or more acquired at other times will be capitalized.
Moveable equipment received as a gift may be recorded as a gift in kind and assigned to the benefit of a specific University department.
Any major application software and appropriate implementation costs (i.e. training and moveable equipment) will be capitalized if the total project is greater than $100,000.
Asset Management at UVM
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Asset Management at UVM –
Useful Lives Moveable equipment - 5 years Building components are only broken down for 3
research buildings. Other buildings are capitalized in total and depreciated over 40 years.
Building service systems - 25 years Building interiors - 20 years Building shell - 40 years
Fixed equipment - 15 years Software - 7 years
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Asset CategoriesAsset categories classify assets by type for accounting entry purposes. Typically, these categories reflect how assets are reported on balance sheets.
MEQFA – moveable equipment between $5K - $100K MEQPD – moveable equipment depreciable over $100K BLDGS – buildings BLINT – building interiors BLSYS – building service systems BLSHL – building shell FXEQP – fixed equipment SFTWR – software LAND – land VEHOD – owned & depreciated vehicles VEHON – owned & non-depreciable vehicles VEHFA – vehicles between $5 - $100K VEHLE – leased vehicles
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An asset profile is a template that contains standard depreciation criteria for an asset type and its corresponding asset books.
MVEQUIPDPR – depreciable movable equipment MVEQUIPFA – moveable equipment for F & A VEHCLEASED – leased vehicle VEHCLOWDPR – vehicle owned & depreciable VEHCLOWNDP – vehicle owned & non-depreciable VEHICLEFA -- vehicle for F & A SOFTWARE – software FIXEDEQUIP – fixed equipment LAND - land BUILDINGS – general buildings BLDGSYSTEM -- building service systems BLDGINTERS -- building interiors BLDGSHELLS -- building shell
Asset Profiles
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UVM Asset Books
University Book - UVM F&A Book - F&A
The F&A book is for moveable equipment between $5000 and $100,000, for the F&A rate calculation, with no depreciation recorded in the general ledger.
Federal Book - FEDERAL Alternative Minimum Tax Book - AMT
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Typical AM Monthly Tasks Run AP/PO interface data into AM loader tables
Run Interface Loader Edit Program Run Transaction Loader Validate each asset’s cost Review the asset info and verify that each asset is
capitalized Run Depreciation Calculation Validate calculated depreciation Run Accounting Entry Creation Review the accounting entries created for each asset
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Accounting Entries
Accounting entries come from two sources: 1. from financial transactions such as asset
additions, adjustments, or retirements
2. from depreciation close for a given accounting period
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AM Month End Close Processes1. Calculate Depreciation – stored in table.
2. Create Accounting Entries.3. Create Monthly Depreciation Entry.4. Run the Load Net Book Value Table process.5. Run the Load Depreciation Reporting Table
process.6. Reconcile Asset Management Accounting Line
with Journal Entries.7. Close AM accounting period.8. Run the Journal Generator process for AM.
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Changing Asset Information
Adding an Asset using Basic Add Copying an Asset Adjusting Asset Information Transferring Assets within Business Unit Retiring Financial/Non-Financial Assets Reinstating Assets
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Adding an Asset
Using Basic Add
&
Copying an Asset
Activities
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Activity 1
Adding an Asset Using Basic Add
Navigation: Asset Management > Asset Transactions > Owned Assets > Basic Add
Reference: Adding an Asset Using Basic Add Job Aid
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Activity 2
Copying an Asset
Navigation: Asset Management > Asset Transactions > Owned Assets > Copy
Existing Asset
Reference: Copying an Asset Job Aid
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Monthly
and
Month-End Processing
Activities
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Activity 3Run AP/PO interface data into AM loader tables
(AMPS1000)
Navigation: Asset Mgmt > Send/Receive Info > Retrieve Info From AP/PO
Reference: Loading an Asset from Purchasing to Asset Management Job Aid
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Run Interface Loader Edit Program (AMIFEDIT)
Navigation: Asset Mgmt > Send/Receive Information > Load Transactions > Edit
Transactions
Reference: Run Interface Loader Edit Job Aid
Activity 4
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Activity 5
Run Transaction Loader (AMIF1000)
Navigation: Asset Mgmt > Send/Receive Info > Load Transactions > Load
Transactions into AM
Reference: Run Transaction Loader Job Aid
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Activity 6
Validate Each Asset’s Cost
Navigation: Asset Mgmt > Asset Transactions > History > Review Cost
Reference: Review Asset Cost Job Aid
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Activity 7
Review the Asset Info and Verify that each Asset is Capitalized
Navigation: Asset Mgmt > Asset Transactions > Owned Assets > Basic Add
Reference: Verify Asset has been Capitalized Job Aid
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Activity 8
Run Depreciation Calculation (AM_DEPR_CALC)
Navigation: Asset Mgmt > Depreciation > Processing > Calculate
Reference: Processing Depreciation Calculation Job Aid
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Activity 9Validate Calculated Depreciation
Navigation: Asset Mgmt > Depreciation > Review Depreciation Info > Asset Depreciation
Reference: Validate Calculated Depreciation Job Aid
Note: Summary level depreciation detail available via navigating to: Asset Mgmt > Financial Reports > Cost
and Depreciation Summary
Reference: View Cost and Depreciation Summary Job Aid
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Activity 10
Run Accounting Entry Creation (AM_AMAEDIST)
Navigation: Asset Mgmt > Accounting Entries > Create Accounting Entries
Reference: Running Accounting Entry Creation Job Aid
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Activity 11
Review the Accounting Entries Created for Each Asset
Navigation: Asset Mgmt > Accounting Entries > Review Financial Entries
Reference: Review Financial Entries Job Aid
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Run Depreciation Close (AM_DPCLOSE).
Navigation: Asset Mgmt > Accounting Entries > Depreciation Close
Reference: Running Depreciation Close Job Aid
Activity 12
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Run the Load Net Book Value Table process (AMLDNBVT).
Navigation: Asset Mgmt > Financial Reports > Load Reporting Tables > Net Book Value Table
Reference: Run Load Net Book Value Job Aid
Activity 13
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Run the Load Depreciation Reporting Table process (AMDPREPT).
Navigation: Asset Mgmt > Financial Reports > Load Reporting Tables > Depr Reporting Table
Reference: Run Load Depr Reporting Table Job Aid
Activity 14
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Modifying Asset Information
Adjusting Asset Information Transferring Assets within Business Unit Attaching Images Printing Asset Information Retiring Financial/Non-Financial Assets Reinstating Assets
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Online Inquiry To view the depreciation schedule for an asset online, go to the
page Asset Management > Depreciation > Review Depreciation Info > Asset Depreciation
To view the accounting entries for an asset online, go to the page Asset Mgmt > Accounting Entries > Review Financial Entries.
To view the depreciation accounting entries for an asset online, go to the page Asset Management > Accounting Entries > Review Asset Journals.
To view net book value by chartfield, category, or account go to the page Asset Management > Financial Reports > Cost and Depreciation > Asset Net Book Value.
Run the query Asset Net Book Value to view accumulated depreciation, current period depreciation, and year-to-date depreciation.
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Report ID and Report Name
Description Navigation
AMAS1100 Asset Categories
Lists Asset Categories (Crystal) Set Up Financials/Supply Chain > Product Related > Assets > Reports > Asset Categories
AMAS2000 Cost Activity
Sorts cost activity by ChartField, by Category, or by Account (SQR). Use the PeopleSoft Asset Management report formatting features to include/exclude data and append suffixes to identify report types.
Asset Management > Financial Reports > Cost and Depreciation > Cost Activity Report
AMAS2100 Asset Acquisitions by
ChartField
Lists asset information and also includes Cost, LTD and YTD Depreciation and Net Book Value with ChartField, Book and Report totals. (SQR)
Asset Management > Financial Reports > Asset Details > Asset Acquisitions
AMAS2110 Asset Acquisitions by In
Service Date
Lists asset information and also includes Cost, LTD and YTD Depreciation and Net Book Value with ChartField, In-service Period/Year, Book and Report totals. (SQR)
Asset Management > Financial Reports > Asset Details > Asset Acquisitions
AMAS2200 Assets by Location
Lists information on assets by location. (SQR) Asset Management > Financial Reports > Asset Details > By Location
AMAS2210Assets by Asset ID
Sorts assets by Asset ID. (SQR) Asset Management > Financial Reports > Asset Details > By Location
AMAS2300 Asset Transfers by
ChartField
Lists asset transfers transactions ordered by ChartField. (SQR)
Asset Management > Financial Reports > Cost and Depreciation > Asset Transfers
AMAS2400 Asset Reclassifications
Lists asset recategorizations ordered by ChartField. (SQR) Asset Management > Financial Reports > Cost and Depreciation > Asset Reclassifications
AMBU1000 Asset Management
Units/Books
Lists all valid business units and asset books. (SQR) Set Up Financials/Supply Chain > Business Unit Related > Reports > Asset Management Units/Books
AMDP2000 Depreciation Activity
Sorts cost activity by ChartField. (SQR), by Category, or by Account. Use the PeopleSoft Asset Management report formatting features to include/exclude data and append suffixes to identify report types.
Asset Management > Financial Reports > Cost and Depreciation > Depreciation Activity
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Report ID and Report Name
Description Navigation
AMDP2200 Depreciation by Period
Sorts assets by period depreciation at asset, category, department, book, or project levels. (SQR) Use the PeopleSoft Asset Management report formatting features to include/exclude data and append suffixes to identify report types.
Asset Management > Financial Reports > Cost and Depreciation > Depreciation by Period
AMDP2300 Depreciation by Fiscal Year
Sorts assets by fiscal year deqpreciation at asset, category, project, department, or book levels. (SQR) Use the PeopleSoft Asset Management report formatting features to include/exclude data and append suffixes to identify report types.
Asset Management > Financial Reports > Cost and Depreciation > Depreciation by Fiscal Year
AMGL1000 Crystal - AM to GL Reconciliation by ChartField
Reconciles AM to GL by ChartField. (Crystal) Asset Management > Financial Reports > Cost and Depreciation > AM/GL and NBV Reports
AMGL1010 Crystal - AM to GL Reconciliation by Category
Reconciles AM to GL by category. (Crystal) Asset Management > Financial Reports > Cost and Depreciation > AM/GL and NBV Reports
AMNB1000 Crystal - Asset NBV by ChartField
Sorts net book value by ChartField. (Crystal) Asset Management > Financial Reports > Cost and Depreciation > AM/GL and NBV Reports
AMNB1010 Crystal - Asset NBV by Category
Lists net book value related amounts sorted by category. (Crystal)
Asset Management > Financial Reports > Cost and Depreciation > AM/GL and NBV Reports
AMAS2030 Account Activity Summary - Cost
Lists cost and related transaction amounts per account with ChartFields, book, and report totals. (SQR)
Asset Management > Financial Reports > Accounting Entries > Account Activity Summary
AMDP2030 Account Activity Summary - Depreciation
Lists depreciation and related transaction amounts per account with Chartfields, book, and report totals. (SQR)
Asset Management > Financial Reports > Accounting Entries > Account Activity Summary
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Report ID and Report Name
Description Navigation
AMDP2130 Account Activity Summary - Net Book Value
Lists cost balance, YTD, LTD, depreciation and NBV amount per account. (SQR)
Asset Management > Financial Reports > Accounting Entries > Account Activity Summary
AMAE1000 List of Accounting Entry Templates
Lists all accounting entry templates by category. (Crystal) Set Up Financials/Supply Chain > Product Related > Asset Management > Reports > Accounting Entry Templates
AMAE2100 Accounting Entry Detail
Lists accounting entry details. (SQR) Asset Management > Financial Reports > Accounting Entries > Account Entry
AMAE2110Accounting Entry Detail - Cost
Lists cost and related transaction amounts per asset, with ChartFields, book, and report totals. (SQR)
Asset Management > Financial Reports > Accounting Entries > Account Activity Summary
AMAE2120 Accounting Entry Detail - Depreciation
Lists depreciation and related transaction amounts per asset, with ChartFields, book, and report totals. (SQR)
Asset Management > Financial Reports > Accounting Entries > Account Activity Summary
AMAE2130 Accounting Entry Detail - Net Book Value
Lists cost balance, YTD, and LTD depreciation and NBV amounts per asset. (SQR)
Asset Management > Financial Reports > Accounting Entries > Account Activity Summary
AMRT2000 Retirement by ChartField
Sorts retirement information by ChartField. (SQR) Asset Management > Financial Reports > Retirement > Retirement Information Report
AMRT2010 Retirement by In Service Date
Lists retirement information with totals per in service year/period. (SQR)
Asset Management > Financial Reports > Retirement > Retirement Information Report
AMRT2100 Retirement Activity
Lists retirement related information. (SQR) Asset Management > Financial Reports > Retirement > Retirement Activity Report
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Asset Management Responsibilities Asset Management Setup –
maintaining the setup values as configured and work with Project CATalyst staff to alter the setup values as needed
Asset Management Processes – loading assets from other modules, running monthly processes to calculate depreciation and generate accounting entries, coordinate with people on campus running capital projects for capitalization purposes, etc.
Reconcile Asset Management with the General Ledger Update Assets –
maintain attribute information about assets, perform adjustments to assets, transfer assets between departments, retire or reinstate assets, etc.
Manually Add Assets – assets that do interface into Asset Management from other PeopleSoft feeder systems like Purchasing, such as equipment that is transferred in with incoming researchers and donated equipment from donors
Reporting and Inquiry Continually Improve the Asset Management System
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