WELCOME Monthly Accounting Meeting (MAM) October 19, 2006.
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Transcript of WELCOME Monthly Accounting Meeting (MAM) October 19, 2006.
WELCOME WELCOME
Monthly Accounting Meeting(MAM)
October 19, 2006
Riverside County Riverside County
Proud Recipient of the
2005 GFOA Award
Certificate of Achievement
Excellence in Financial Reporting
Opening RemarksOpening Remarks
Michael Alexander
Division ChiefInternal Audits Division
IntroductionsIntroductionsAnnouncementsAnnouncements
Vi JacksonPrincipal Accountant
General Accounting Division
Association ofAssociation of Government Accountants Government Accountants
Inland Empire California ChapterInland Empire California Chapter
Linda Kjeldgaard, PresidentCarla O’Ferrall, President Elect
Jessica Hurst, TreasurerNancy Clarke, CGFM Coordinator
Facilities ManagementFacilities ManagementProject Accounting Project Accounting
Alma Avila
Supervising Accountant FM - Accounting
Meet the GAD Operation Team Meet the GAD Operation Team
Robert Valenson
Operation Section Supervisor
General Accounting Division
Operation Section FunctionsOperation Section Functions
Vendor Code SectionVoucher Audit Team SectionReplacement Warrant SectionA/P Distributions and Reconciliations
Processing Section
Operation SectionOperation Section
Questions?
Additional Guidelines forAdditional Guidelines forNon-Cap Assets Non-Cap Assets
Michael Alexander
Division Chief ACO - Internal Audits Division
When should walk-away and other non-capitalized assets be entered into the Asset Management Module?
As soon as possibleDecember 31, 2006 for small departmentsBy March 31, 2007 for large departmentA different timeline will be developed for
large departments using Remedy or other similar software for tracking equipment
Should asset tags be used for walk-away and other non-capitalized assets which are entered into the Asset Management Module?
YesDepartments are responsible for deciding
the numbering convention for their tags and for purchasing these tags
What fields are required when entering walk-away and other non-capitalized assets into the Asset Management Module?
General InformationCustodianSerial numberAcquisition DateNon-caps
What will be required to retire walk-away and other non-capitalized assets from the Asset Management Module?
Department Head approval of a form AM-7 maintained at the department. (Do not send to the Auditor-Controller)
Email correspondence to the Auditor-Controller, Asset Management Section, with a copy to the Department Head
Will an annual physical inventory of walk-away and other recorded non-capitalized assets be required?
Yes
Will the physical inventory of walk-away items and other non-capitalized assets have to be certified?
No
What’s Next?What’s Next?
How to Enter Non-CapsHow to Enter Non-Capsinto the Asset Moduleinto the Asset Module
Tanya Harris, Principal Accountant
Henry Johnson, Lead Senior Accountant
ACO GAD-Capital Assets
PeopleSoft Asset Management (AM)PeopleSoft Asset Management (AM)
Adding Assets Manual Method Interface Method Advantages vs. Disadvantages
NAVIGATIONNAVIGATION
NAVIGATIONNAVIGATION
NAVIGATIONNAVIGATION
GENERALGENERAL INFOINFO 1 1
IMAGEIMAGE
COMMENTSCOMMENTS
LOCATIONLOCATION
CUSTODIANCUSTODIAN
LICENSE / REGISTRATIONLICENSE / REGISTRATION
MANUFACTURERMANUFACTURER
ACQUISITIONACQUISITION DETAIL 1 DETAIL 1
CAPITALIZECAPITALIZE
PeopleSoft Asset ManagementPeopleSoft Asset Management
Interface Method
Identify Non - Capital Asset at AP Voucher
AP Voucher is the best business practice
Easy as 1-2-3
PeopleSoft Asset ManagementPeopleSoft Asset Management
Interface Method (Continued)
• Step 1
• Mark Asset Check Box and select Profile ID on AP Voucher (NOCAP)
PeopleSoft Asset ManagementPeopleSoft Asset Management
PeopleSoft Asset ManagementPeopleSoft Asset Management
PeopleSoft Asset ManagementPeopleSoft Asset Management
Interface Method (Continued)
• Step 2
• Mark Auto Approve Status Check Box
PeopleSoft Asset ManagementPeopleSoft Asset Management
PeopleSoft Asset ManagementPeopleSoft Asset Management
PeopleSoft Asset ManagementPeopleSoft Asset Management
PeopleSoft Asset ManagementPeopleSoft Asset Management
PeopleSoft Asset ManagementPeopleSoft Asset Management
PeopleSoft Asset ManagementPeopleSoft Asset Management
Interface Method (Continued)
Easy as 1-2-3
PeopleSoft Asset ManagementPeopleSoft Asset Management
Interface Method (Continued)
• Advantages
• Disadvantages
PeopleSoft Asset ManagementPeopleSoft Asset Management
Advantages• Eliminates double entry• Minimizes keying errors• Provides Audit Trail
PeopleSoft Asset ManagementPeopleSoft Asset Management
Disadvantages• None
ARE THERE ANYARE THERE ANY
QUESTIONS ?
Ahoy Matie! Ahoy Matie! Pirate Booty Candy!Pirate Booty Candy!
Next MAM MeetingNext MAM Meeting
December 11, 2006December 11, 2006 (9:00 am – 11:00 am)(9:00 am – 11:00 am)
Wrap UpWrap Up
Meeting Evaluation Open Forum
Thank youThank you for your participation for your participation