State of Connecticut

State of ConnecticutCore-CT Project

Asset Management ImpactsOn Accounts Payable

And PurchasingUpdated 6/13/2005

2

Introduction

Welcome to the AP/PO Impacts from Asset Management course!

Instructor Introduction

Participant Introduction

Training Facility Orientation

Ground Rules

Parking Lot

Asset Management

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Introduction

Today’s Agenda:

Overview of the Asset Management module

Impacts to Requisitions (eProcurement module)

Impacts to Purchase Orders (Purchasing module)

Impacts to Receiving (Purchasing module)

Impacts to Vouchering (Accounts Payable module)

Loading Assets from Procurement

Asset Management

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Core-CT Navigation

Asset Management

Asset Management

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Asset Management - Overview

Real Property

Land

Buildings

Improvements

Personal Property

Greater than $1000

Tagged, Tracked, Depreciated

Less than $1000

Tagged, Tracked, Not Depreciated

Asset Management

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Asset Management – Overview (Cont.)

• Asset

• Tagged

• Not consumed in the course of business

• Example: Computer, Copier

• Inventory

• Not Tagged

• Trackable

• Consumed in the course of business

• Example: Office Supplies, Medical Supplies

Asset Management

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Asset Management Glossary

New Terms

Asset Business Unit

Category

Profile ID

Capital Acquisition Plan (CAP)

Asset Management

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Enter Assets into AM – Process Flow Asset Management

ACQUIRE

ASSETS BY:

PROCUREMENT

BUILD

DONATION

ESCHEATMENT

ASSET POSTED

INTO AM

REQUIRES

MANUAL ENTRY

TO AM

ADJUST

ASSETS

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Enter Assets Through Purchasing – Overview Assets that are purchased online in Core-CT will be interfaced from the Accounts

Payable module to the Asset Management module. Purchases do not become assets until after the voucher is posted

Roles involved in integration of assets:

Requester – Enters asset information on the requisition

General or Program Buyer – Codes the PO to a capital expenditure account and enters the AM Business Unit and Profile ID on the PO. Enters additional asset information, if applicable.

General or Casual Receivers – (Optional) Enters the tag number on the receipt and overrides the Asset ID to ensure that the tag number and Asset ID match. Enters additional asset information, if applicable

Voucher Processor – Creates the voucher by copying the receipt. Also the Voucher Processor can flag the line as an asset line if not flagged earlier in the process

Asset Processor – Reviews the Loader tables and runs Transaction Loader. Can drill back to the PO, receiving, and voucher information from AM.

Asset Management

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Asset Management Impact on ePro

RECEIVEAGAINSTTHE PO

POCREATED

CREATEVOUCHER

FROMRECEIPT

LOAD ASSETSINTO

TABLES(Batch)

CONSOLIDATEAND UNITIZE

ASSETS

RUNTRANSACTION

LOADER

PREVIEW THELOADER TABLES

REVIEW ASSETSIN AM

CREATEREQUISITION

(Optional)

RUNPO ASSET

QUERY

Asset Management

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Asset Management Impact on eProAsset Management

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Asset Management Impact on Purchase Orders


POCREATED

CREATEVOUCHER

FROMRECEIPT

LOAD ASSETSINTO

TABLES(Batch)


ASSETS

RUNTRANSACTION

LOADER


REVIEW ASSETSIN AM

CREATEREQUISITION

(Optional)

RUNPO ASSET

QUERY

Asset Management

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Asset Management Impact on Purchase OrdersAsset Management

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Asset Management Impact on Receiving


POCREATED

CREATEVOUCHER

FROMRECEIPT

LOAD ASSETSINTO

TABLES(Batch)


ASSETS

RUNTRANSACTION

LOADER


REVIEW ASSETSIN AM

CREATEREQUISITION

(Optional)

RUNPO ASSET

QUERY

Asset Management

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Asset Management Impact on ReceivingAsset Management

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Asset Management Impact on Accounts Payable


POCREATED

CREATEVOUCHER

FROMRECEIPT

LOAD ASSETSINTO

TABLES(Batch)


ASSETS

RUNTRANSACTION

LOADER


REVIEW ASSETSIN AM

CREATEREQUISITION

(Optional)

RUNPO ASSET

QUERY

Asset Management

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Asset Management Impact on Accounts PayableAsset Management

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Asset Management Impact on Accounts Payable

Asset Management

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Running the PO Asset Query


POCREATED

CREATEVOUCHER

FROMRECEIPT

LOAD ASSETSINTO

TABLES(Batch)


ASSETS

RUNTRANSACTION

LOADER


REVIEW ASSETSIN AM

CREATEREQUISITION

(Optional)

RUNPO ASSET

QUERY

Asset Management

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Running the PO Asset QueryAsset Management

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Loading Assets from Procurement


POCREATED

CREATEVOUCHER

FROMRECEIPT

LOAD ASSETSINTO

TABLES(Batch)


ASSETS

RUNTRANSACTION

LOADER


REVIEW ASSETSIN AM

CREATEREQUISITION

(Optional)

RUNPO ASSET

QUERY

Asset Management

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Loading Assets from ProcurementAsset Management

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Loading Assets from ProcurementAsset Management

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Consolidate or Unitize Assets


POCREATED

CREATEVOUCHER

FROMRECEIPT

LOAD ASSETSINTO

TABLES(Batch)


ASSETS

RUNTRANSACTION

LOADER


REVIEW ASSETSIN AM

CREATEREQUISITION

(Optional)

RUNPO ASSET

QUERY

Asset Management

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Consolidate or Unitize Assets - Flow


POCREATED

CREATEVOUCHER

FROMRECEIPT

LOAD ASSETSINTO

TABLES(Batch)


ASSETS

RUNTRANSACTION

LOADER


REVIEW ASSETSIN AM

CREATEREQUISITION

(Optional)

RUNPO ASSET

QUERY

Asset Management

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Basic AddAsset Management

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Enter Assets in AM – Wrap Up

• The Requester can enter the Asset Management business unit and Profile ID on the requisition.

• The General Buyer will enter the Asset Management business unit and the Profile ID on a purchase order. The General Buyer will also review the Asset Management business unit and Profile ID if it was entered on the requisition.

• The Asset Processor will run a query to review that information entered on approved or dispatched purchase orders is correct for the asset purchase.

• The Receiver will enter the Asset ID and Tag Number for the received asset.

• The Voucher Processor will review the Voucher to ensure that the asset information was entered correctly. If the asset was not identified earlier, the Voucher Processor has the option to identify the asset information on the Voucher. However, the Voucher Processor will not be able to match the Asset ID to the Tag Number.

• When the asset is processed through Purchasing and Accounts Payable, the procurement information is captured for the asset. Once the asset is integrated into AM, the asset processor can drill back to the PO, receiving, and voucher information from the AM module.

Asset Management

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Conclusion

Wrapping Up the Asset Management Impacts on Purchasing and Accounts Payable class:

There are Core-CT Tools available: Core-CT Website: http://www.core-ct.state.ct.us/

WLA

Job Aids

Summary of Completed Course Objectives

Email your questions to [email protected]

Complete the Evaluation - Mandatory

Asset Management

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Questions

State of Connecticut

Documents

Transcript of State of Connecticut