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ASSET ADDITION IN AM
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ASSET PROCESSING IN AM
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Training Manuals
ASSET MANAGEMENT
Last Update
Author
07/03/2007
: V1
: Sunitha Rodrigues
Date:
Validation
Name
Role
Date
Ramdas Newalkar
Jean-Paul Camelbeek
Katherine McCulloch
Change History
Date
Author
07/03/2007
25/10/2007
12/02/2008
Sunitha Rodrigues
Ramya Jayaraman
Ramya Jayaraman
Version
1
2
3
Change Reference
Initial Version
Modification
Modification
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TABLE OF CONTENT
1.
INTRODUCTION......................................................................................................................................
1.1
ASSUMPTIONS...................................................................................................................................
2.
FUNCTONALITIES COVERED................................................................................................................
3.
4.
5.
ASSET CREATION.................................................................................................................................
5.1
ASSET CREATION -- EXPRESS ADD...................................................................................................
5.1.1
Step 1: Enter Asset Information................................................................................................
5.1.2
Step 2: Asset Creation Enter Cost/Asset Information.............................................................
5.1.3
Step 3: Asset Creation Save the Asset..................................................................................
5.1.4
Adding Assets with Accumulated Depreciation.........................................................................
5.2
ASSET CREATION BASIC ADD.................................................................................................
5.2.1
Step 1: Enter asset Information.................................................................................................
5.2.2
Step 2: Asset Creation Enter Asset Information.....................................................................
5.2.3
Step 3: Asset Creation Enter Asset Acquisition Detail............................................................
5.2.4
Step 4: Asset Creation Save the Asset..................................................................................
6.
7.
8.
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8.4
9.
ASSET RECATEGORIZATIONS............................................................................................................
9.1
9.2
9.3
9.4
9.5
10.
10.1
10.2
11.
ASSET TRANSFERS..........................................................................................................................
11.1
11.2
11.3
11.4
11.5
11.6
12.
INTRA-UNIT TRANSFER.....................................................................................................................
STEP 1: ENTER ASSET INFORMATION................................................................................................
STEP 2: INTRA-UNIT TRANSFER - COST ADJUST/TRANSFER ASSET MAIN TRANSACTION...................
STEP 3: INTRA-UNIT TRANSFER - COST ADJUST/TRANSFER ASSET COST INFORMATION...................
STEP 4: INTRA-UNIT TRANSFER - COST ADJUST/TRANSFER ASSET CHANGE LOCATION....................
STEP 5: SAVE THE INFORMATION......................................................................................................
UNITIZE/CONSOLIDATION (OPTIONAL ACTIONS)..........................................................................
12.1
12.2
13.
ASSET REINSTATEMENT................................................................................................................
14.1
14.2
14.3
15.
UNITIZE ASSETS..............................................................................................................................
CONSOLIDATING ASSETS..................................................................................................................
ASSET RETIREMENT.........................................................................................................................
13.1
13.2
14.
REPORTS..........................................................................................................................................
15.1
15.2
RECONCILIATION AP/AM................................................................................................................
REPORTS USED IN ASSET MANAGEMENT.........................................................................................
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1. INTRODUCTION
Purpose
The purpose of this document is to help the users in understanding the various functionalities of the
current Asset Management system of LexisNexis UK.
Scope
This document specifies the step by step approach needed to run the custom as well as the delivered
processes in AM system.
Glossary of Asset Management Terms:
Term
Accumulated
Depreciation
Actual day
Actual Month
Asset
Asset Book
Asset Category
Asset Class
Asset Profile
Asset Transfer
Calculation Type
Description
The total depreciation for an asset since it was placed in-service
The Depreciation convention that means the depreciation start date is
based on the day that the asset enters service. For example, for an asset
that entered service on 26 June, calculations will be based on 5/30ths of a
whole month of depreciation. Actual day processing in PeopleSoft has some
serious problems associated with it.
The Depreciation convention that means the depreciation start date is
based on the month that the asset enters service. For example, an asset
that entered service on 26 June, calculations will be based on a whole
month of depreciation for June, rather than 5 days worth for Actual day.
Anything owned by the company having a monetary value; e.g., 'fixed'
assets like buildings, plant and machinery, vehicles (these are not assets if
rented and not owned) and potentially including intangibles like trade marks
and brand names, and 'current' assets, such as stock, debtors and cash.
Used to store financial information about assets. Some companies will have
more than one book, for example, one for accounting and one for taxation
purposes. In addition, if a company operates in more than one country, they
may need a separate book for each currency. It is when you associate the
book with the business unit that you provide the rules and policies that
make the system run as the users require it to. For example, you define
whether to produce accounting entries or not by business unit / book.
Used to group assets which require identical accounting entries. Examples
of commonly used asset categories are Fixtures and Fittings, Computer
Equipment, Automobiles. The combination of asset category and
transaction code determines into which accounts an asset transaction is
entered. The asset class field should be used to group assets for reporting
purposes.
Asset Class is used to group assets for reporting purposes. It can be used
in combination with the Category Code to refine asset classification. For
example, an executive desk is categorized as Furniture and Fixtures for the
balance sheet. Within the broad category of furniture and fixtures, you can
use an Asset Class code to identify it as a desk.
An asset profile is a template that contains standard depreciation criteria for
an asset type and its corresponding asset books. The information set up in
profiles can be used as default values when you are adding assets to the
system. Profiles are recommended when you have a large number of
assets of the same typethe defaults will minimize data entry and ensure
accuracy.
Refers to the change of account responsibility for an asset. Thus if an asset
changes ownership from one department to another, even though the asset
does not move, this is an asset transfer.
There are two calculation types in common use with PeopleSoft. Remaining
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Capitalise
Cost
Cost type
Depreciation
Depreciation
convention
In-service date
1.1
ASSUMPTIONS
None
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2. FUNCTONALITIES COVERED
Functionalities covered in the Training Manual are as follows:
Functionalities
Asset Management Setup
Asset Management Process Technical Overview
Asset Creation
Asset Depreciation Calculation
Asset Accounting Entry Creation
Asset Cost Adjustments
Asset Recategorization
Asset Creation- PO-AP Integration
Asset Transfers
Asset Optional Actions- Unitize Asset/Consolidation
Asset Retirement
Asset Reinstatement
Reports
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3.1
Navigation: Home Asset Management Asset Definitions Center > Business Unit/Book Definition
> Asset Management Definition
The default location for this Business Unit is Tolley and the last auto generated Asset Id for the
UK001 is 2954.
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3.2
ASSET CLASS
Asset Class is used to group assets for reporting purposes. It can be used in combination with the
Category Code to refine asset classification. For example, an executive desk is categorized as
Furniture and Fixtures for the balance sheet. Within the broad category of furniture and fixtures, you
can use an Asset Class code to identify it as a desk
Navigation: Home Asset Management Asset Definitions Center > Asset Controls > Asset
Classes
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3.3
ASSET CATEGORY
Asset Category is used to group assets which require identical accounting entries.
Used to group assets which require identical accounting entries? Examples of commonly used asset
categories are Fixtures and Fittings, Computer Equipment, Automobiles. The combination of asset
category and transaction code determines into which accounts an asset transaction is entered. The
asset class field should be used to group assets for reporting purposes.
Navigation: Home Asset Management Asset Definitions Center > Asset Controls > Categories
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3.4
ASSET PROFILES
An asset profile is a template that contains standard depreciation criteria for an asset type and its
corresponding asset books. The information set up in profiles can be used as default values when you
are adding assets to the system. Profiles are recommended when you have a large number of assets
of the same typethe defaults will minimize data entry and ensure accuracy.
Navigation: Home Asset Management Asset Definitions Center > Profiles > Asset Profiles
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3.5
The Accounting Entry template is the central table used for creating accounting entries to general
ledger journals. Each is defined by an accounting entry template ID. When an accounting entry
template is added, Peoplesoft automatically populates it with standard accounting entry types, based
on the asset category, cost type, and action specified. It also identifies each entry as either a debit or
credit.
In LexisNexis UK, an accounting entry template is defined for each possible combination of asset
category and transaction type.
Navigation: Home Asset Management Asset Definitions Center > Accounting Entry Templates
In the screen below, for the Asset Category FF the accounting entry templates are defined for all
possible transaction types.
The accounting entry creation process creates accounting entries based on the account numbers
specified in this page. If an asset is entered into the system for the combination of Asset category and
transaction type for which no accounting entry template exists, the accounting entry process would
fail.
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Whenever the account numbers present in the page above is changed, the next time the accounting
entry creation process is run and an accounting entry is generated then it is done for the changed
account number.
For eg. If the Fixed Asset account number in the page above is changed from 073401 to 073402
then for all the new/existing assets belonging to the category FF the Fixed Assets account 073402
will be accounted by the accounting entry creation process.
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4.1
ASSET ADDITION IN AM
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4.2
ASSET PROCESSING IN AM
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5. ASSET CREATION
Use Express Add to add assets using an Asset Profile for default book and depreciation information.
Assets are capitalized, most of the critical information is derived from the asset profile by default, and
detailed physical information can be entered at a later time.
5.1
Navigation: Home Asset Management Financial Management Owned Assets Express Add
Description
Data
Business Unit
UK001
Asset ID
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NEXT
available number.
Description
Data
Profile ID
Description
Location
Location
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Cost
Transaction Date
Transaction Date
Accounting Date
Accounting Date
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2. Run the Depreciation Calculation process to create the detail within the Depreciation tables
for this asset.
3. Run the Accounting Entry Creation process to create the accounting entries as a result of
adding this asset.
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Accounting Date: This should be the current date which is open in the Asset Management.
Acquisition Date: Original asset acquisition date
In Service Date: Original asset acquisition date
Asset
Acquisition
Date
Asset entered in
the system on
A
B
Accumulated
depreciation
until
Feb 2008
Dec 2007
Transaction
Date
Accounting Date
In the table above, the accumulated depreciation of the Asset A is until the previous period
(February) and hence the system need not calculate any Prior Period Depreciation. Hence the
Transaction date can be the current date. Whereas for the Asset B, the accumulated depreciation is
only until December 2007. Hence the system should calculate the depreciation for the period January
and February 2008. In order to do this the transaction date is entered as 1 st Jan 2008.
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Description
Data
Profile ID
Description
Location
Location
Cost
Accum Depr
Transaction Date
Accumulated
Depreciation
Transaction Date
Accounting Date
Acquisition Date
In Service Date
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Accounting Date
Acquisition Date
Acquisition Date
Note: Whenever the asset is saved with the accumulated depreciation, after the depreciation
calculation process is run, the accumulated depreciation entered in the Express Add page appears in
the Review Depreciation Information with an ADD transaction type. And the system calculated
depreciation (if any) would appear with a PDP Prior Period Depreciation transaction type.
5.2
Use Basic Add when much of the physical information is readily available at the start, and then
capitalize the asset immediately or later using the appropriate asset profile.
The Asset Basic Information (Basic Add) page enables you to enter and adjust assets, with the
maximum amount of both financial and physical detail.
In LexisNexis UK, only the Express Add functionality is used.
Navigation: Home Asset Management Financial Management Owned Assets Basic Add
Steps:
Select the tab Add a New Value
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1. Enter the Asset Management Business Unit .The default value for the Business Unit is
UK001 which can be changed if needed.
2. NEXT is the default Asset ID
3. Click on
Description
Data
Business Unit
UK001
Asset ID
NEXT
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Description
Data
Business Unit
UK001
Asset ID
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NEXT
Profile ID
Description
Asset Status
Acquisition Date
Acquisition Code
Asset Class
Transaction Date
Accounting Date
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Click on the Acquisition Detail Chartfields hyperlink if you want to enter the
individual chartfields.
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3. Click on the
information
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2. Run the Depreciation Calculation process to create the detail within the Depreciation tables
for this asset.
3. Run the Accounting Entry Creation process to create the accounting entries as a result of
adding this asset.
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6.1
Steps:
1. Populate the Run Control ID field. (You can select existing run control ID or add a new value)
2. Click on
Description
Data
Run Control ID
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6.2
5. Click on the
button.
6. The Process Scheduler Request page will be displayed.
This process is normally run for the entire Business Unit UK001.
Data
Request ID
Unit
UK001
Book Name
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CORP
From/To Asset ID
6.3
Asset ID
Description
Data
Request ID
Any Value
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Select Checkbox
6.4
Navigation: Home > Asset Management > Depreciation > Review Depreciation Info > Asset
Depreciation
Steps:
1. Enter the Business Unit of the Asset. Default value for BU will be UK001 which can be
changed if required.
2. Enter the Asset ID for which the verification is to done.
3. Click on
Description
Data
Business Unit
UK001
Asset Identification
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Asset ID
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7.1
Steps:
1. Populate the Run Control ID field
2. Click on
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Field
Description
Data
Run Control ID
Any Value
7.2
1.
2.
3.
4.
5.
6. Click on the
button.
7. The Process Scheduler Request page will be displayed.
This process is normally run for the entire Business Unit UK001.
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Field
Description
Data
Request ID
Process Frequency
Any value
Always
Business Unit
UK001
Book Name
From/To Asset ID
7.3
CORP
Select Range of Asset IDs
Description
Data
Server Name
PSNT or PSUNX
Accounting Entry
Creation (SQR
Process)
Accounting Entries
Creation (PSJob)
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7.4
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7.5
Steps:
1. Enter the Business Unit
2. Enter the Asset Identification of the Asset whose Accounting Entries you want to review
3. Click on
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8.1
Steps:
1. Populate the Business Unit of the Asset.
2. Populate the Asset Identification of the Asset to be adjusted.
3. Click on
Description
Data
Business Unit
UK001
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Asset Identification
8.2
Asset ID
Description
Data
Transaction Date
Transaction Date
Accounting Date
Transaction Code
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Appropriate
Accounting Date from
the calendar
Leave this field blank
transaction.
Action
8.3
Adjustment
1. Enter the percentage amount or dollar amount that the cost should increase or decrease
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Data
Note: You have the option of changing the quantity or cost of each row by typing over the
quantities and amounts that currently exist.
2. click on
8.4
1. Click on
. The Cost on each row of the asset will increase or decrease by the
percentage or adjustment amount entered.
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2. Run the Depreciation Calculation process to update the Depreciation table with the cost
adjustment data.
3. Run the Accounting Entry Creation process to generate accounting entries on the Distribution Line
table that reflects the cost adjustment activity.
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9. ASSET RECATEGORIZATIONS
Navigation: Home Asset Management Financial Management Financial Transactions Cost
Adjust / Transfer Asset
9.1
Steps:
1. Populate the Business Unit of the Asset.
2. Populate the Asset Identification of the Asset to be recategorized.
3. Click on
9.2
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1.
2.
3.
4.
5. Click on
Accounting Date
Transaction Code
Action
Description
Defaults to todays date. Override todays
date with the actual date that the category
change took place.
Defaults to todays date. Override todays
date with the date that the accounting entries
that result from the category change should be
reflected in the General Ledger.
Identifies the Transaction kind used, which ties
back to the Accounting Entry Template and
defines the accounting treatment for the
transaction.
Identifies the type of this transaction. Click on
the down arrow to display a list of transaction
types available with this transaction.
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Data
Select the appropriate Date
from the Calendar
Select the appropriate Date
from the Calendar
Recategorize
9.3
1. Type in the new Category directly over the existing Category for each Asset row displayed.
(Here its changed from COMP1 to AUTO)
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Description
Quantity
Cost
Unit
Salvage
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Data
Select from the list of
values
9.4
1. Click on
2. If the depreciation criteria for the new Category are different from the old Category, you must
process a Book Adjustment. If the depreciation criteria remain the same, continue with the
Depreciation Calculation and Accounting Entry Creation to complete the change.
3. Run the Depreciation Calculation process to update the Depreciation table with the cost
adjustment data.
4. Run the Accounting Entry Creation process to generate accounting entries on the Distribution
Line table that reflects the cost adjustment activity.
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9.5
Navigation: Home Asset Management Asset Book Information Define Tax/Depr Criteria
Steps:
1. Populate the Business Unit of the Asset.
2. Populate the Asset Identification of the Asset that has been recategorized.
3. Click on
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4. Change any field on the page by typing over the existing value.
5. Click on
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Accounting Date
Status
In-Service Date
Method
Useful Life
Calculation Type
Convention
Description
Data
Depreciable
Select Appopriate date
Select from the list of
values
Actual Month
4. Run the Depreciation Calculation process to update the Depreciation table with the book
adjustment data.
5. Run the Accounting Entry Creation process to generate accounting entries on the Distribution
Line table that reflects the cost adjustment activity.
When the depreciation attributes (useful life, method etc) are changed in this page, the
depreciation needs to be recalculated. There are two kinds of calculation types Remaining Value
and Life to date.
The Remaining value method is used to deduct any accumulated depreciation from the cost and
depreciate the remaining value over the remaining life of the asset. The depreciation for the
remaining life is done according to the depreciation principles defined in the PeopleSoft. Most of
the assets will be depreciation by this method.
Whereas the Life-to-date method would calculate the difference between the depreciation charged
till date ie., the accumulated depreciation and the depreciation allowed according to the new
change. The difference amount (could be a debit or credit) is charged as a Prior Period
Depreciation (PDP).
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For eg., The useful life of an asset that has been in use for past one year is increased by two years
(from 3 years to 5 years)
Cost of the asset
: 6000
Useful Life
: 3 years
Accumulated Depreciation: 2000 (for one year)
If the calculation type is Remaining Value, the system would calculate the depreciation for the
remaining life based on the changed useful life value. It would distribute the remaining Net Book
Value across the remaining changed useful life of the asset ( 5 1 year ie., 4 years). There will not
be any Prior Period Depreciation.
Net Book Value
: 4000
Depreciation per year according to the changed values
: 4000/4 = 1000
If the calculation type is Life to Date the system would calculate the depreciation till date according
to the changed useful life, 5 years. This is compared against the actual depreciation charged so far
and the difference is recorded as the Prior Period Depreciation (PDP).
Depreciation charged till date
: 2000
Depreciation per year according to the changed values: 6000/5 = 1200
Excess depreciation charged (Difference)
: 800
The excess depreciation will be recorded as Prior Period depreciation and henceforth the yearly
depreciation allocation would be 1200
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10.
PO-AP INTEGRATION
10.1
When an asset is purchased via the Purchase order process, the key asset information
(AP/AM clearing account, Asset Business Unit, Asset profile id and capitalize option) are
entered in the Purchase Order .
The above asset information present in the Purchase Order will flow through to the voucher,
receiver and eventually the asset definition.
When the invoice is received, the voucher is created from data on the Purchase Order.
After the voucher is posted and matched, the Load Assets Process is run to update the PreAM Interface tables with Financial Information for the asset.
The AP/PO Interface Process is run to populate the Financial and Physical Interface Tables
with the asset information (INTFC_FIN, INTFC_PHY_A, INTFC_PHY_B) which is followed
by the Transaction Loader process which populates all of the main asset tables (ASSET,
ASSET_ACQ, COST, ASSET_LOC, BOOK, etc.)
Depreciation rules that have defaulted from the asset profile can be modified as necessary
after the asset has been created in the Asset Management system.
10.2
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Proc
To assign asset information to a Purchase Order you need to select the schedule button on the Purchase Order.
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From this menu you will need to select the Distribution/Chartfields button.
The following screen is displayed.
Within this screen you can see the Account code to which the goods are being charged
Within this screen you have to select the asset Information tab.
The asset information tab will be displayed.
Within this screen you have to populate the AM Unit the Profile ID and ensure the Capitalize check
box is ticked.
The various Profile ID for assets is displayed by selecting the magnify glass in the profile ID field.
On completion the screen should look like the example below.
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Click on the Assets tab and ensure asset information like Asset Business Unit and Profile ID have
been copied.
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Click on RUN
Click on OK button. Now, go to Process Monitor, click on refresh till process status changes to
Success.
Step 5: Load the asset information from the voucher lines to the Pre-AM Interface Table.
Navigation: Accounts Payable > Batch Processes > Extracts and Loads > Load Assets Request
1. Click on the Add a New Value tab, enter a new Run Control ID and click on Add.
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2. Complete the Load Assets Request page as above and click on Run. Make sure that the server
name is set to PSNT or PSUNX prior to submitting the process.
3. Click on OK button. Go to Process Monitor, click on refresh button till process status changes to
Success.
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Step 6: Run the query Lnukam_Preintfc_Accountingdt. This query is to ensure that the accounting
date of all the lines in the interface table correspond to the current open period. If any of the interface
line does not belong to the open period then those line details are returned by the query. Then the
user navigates to the Load Preview Pre-AM page and would change the accounting date.
Query: Lnukam_Preintfc_Accountingdt
In the page above, the query result has shown two lines that has the accounting date out of the
current open period. These values should be changed.
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View the asset information loaded into the Pre-AM Interface Table:
Navigation: Asset Management > Send/Receive Information > Preview AP/PO Information
Enter the AP Business Unit and the Voucher ID and click on Search:
The AP information will be displayed:
The accounting date could be modified to be in synch with the current open period in the page above.
Step 7: Run the AP/PO Interface to create the Interface Financial and Physical transactions in Asset
Management.
Navigation: Asset Management >Send/Receive Information -> Retrieve Information from AP/PO
Add a new Run Control ID or access an existing one:
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Enter the Asset Management Business Unit/Voucher ID and click on Run. Make sure
that the server name is set to PSNT or PSUNX prior to submitting the process.
Click on OK button. Go to Process Monitor, click on refresh button till process status changes to
Success.
Step 8: Optional Step - View the asset financial and physical interface transactions created.
Navigation: Asset Management > Send/Receive Information > Preview AP/PO Information
Enter the AM Business Unit and Voucher ID
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You will see that Load Status is changed from Pending to Loaded and Interface ID 10000056 is
generated.
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Step 9: Run the query Lnukam_Asset_Unitize to identify the lines that needs to be split.
When the voucher line has got a quantity more than 1, i.e, 5 then the AM process would create just
one asset with the quantity 5. But if we need 5 assets (one for each quantity) in the place of 1 asset
then the load lines should be unitized. In order to identify the lines that need to be split, the query
below is run.
Select a Run Control ID and enter the range of Interface IDs to process. Click on Search button
Interface Information grid will be populated with data.
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Click on Run to advance to the job execution page. Make sure that the server name is set to PSUNX
prior to submitting the process.
Run the Transaction Loader process to update the main asset tables.
Click on OK button. Go to Process Monitor, click on refresh button till process status changes to
Success.
Step 10: Review Asset is created.
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Navigation:
Asset Management > Send/Receive Information > Approve Financial Information > Review
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Run the Depreciation Calculation process to create the detail within the Depreciation
tables for this asset.
Step 12
Run the Accounting Entry Creation process to create the accounting entries as a
result of adding this asset.
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11.
ASSET TRANSFERS
Periodically, youll need to transfer assets from one department, product, or project to another. In
addition to physically relocating the assets, you may need to change some of the ChartField elements
in order to correctly allocate asset cost and depreciation expense. You can perform full, partial, or
retroactive transfers.
11.1
INTRA-UNIT TRANSFER
Navigation:
Home Asset Management Financial Management Financial Transactions Cost
Adjust/Transfer Asset
The Asset Cost Adjust/Transfers page is displayed.
11.2
Steps:
1. Populate the Business Unit of the Asset to be transferred from.
2. Populate the Asset Identification of the Asset to be transferred.
3. Click on
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Description
Data
Business Unit
UK001
Asset ID
11.3
STEP 2: INTRA-UNIT TRANSFER - COST ADJUST/TRANSFER ASSET MAIN
TRANSACTION
1. Override the Transaction and Accounting dates if necessary.
2. Leave the Transaction Code field Blank.
3. Select the Transfer Action from the drop down box.
4. Click on
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Field
Description
Data
Transaction Date
UK001
Accounting Date
Transaction Code
Action
Rate Type
Accounting Date
blank
Transfer
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Description
Product
Function
Project
Change Location
Data
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Description
Data
Location
4. Click on
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11.6
1. Click on
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2. Run the Depreciation Calculation process to update the Depreciation table with the transfer data.
3. Run the Accounting Entry Creation process to generate accounting entries on the Distribution
Line table that reflects the transfer activity.
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12.
12.1
UNITIZE ASSETS
Use Asset Unitization if you want to split a load line into many assets. Access the Unitize Assets FROM Asset page. Verify that this is the line that you want to unitize, and then click EZ Unitize to
access the Proportional Unitization Defaults page, where you can proportionally unitize.
Navigation:
Home Asset ManagementSend/Receive Information Load Transactions Unitize Assets
Description
Data
Business Unit
UK001
Voucher ID
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Voucher ID
1. Click on the
into individual assets.
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Description
Data
Quantity
Profile ID
Quantity
Select from the list of values
Description
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Asset Description
In the example, 4 individual assets each with a cost of $200 will be created by using the EZ Unitize
function. The option exists to create each asset with a different cost by using the Transfer To panel :
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12.2
CONSOLIDATING ASSETS
Use Asset Consolidation If you want to consolidate many load lines into a single asset.To complete
the consolidation process, load the resulting load transaction by using the Transaction Loader.
Navigation:
Home Send/Receive Information Load Transactions Consolidate Assets
Step 1: Click on the Tab Add a New Value
Click on the tab Add a New Value
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Description
Data
Interface ID
Interface ID
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Description
Data
Field Name
Value
Click on
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Description
Data
Profile ID
Business Unit
Asset ID
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UK001
NEXT
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13.
ASSET RETIREMENT
Assets are retired when they are either disposed of or no longer in use. When you retire an asset,
PeopleSoft Asset Management creates all the necessary journal entries. In addition, journal entries
corresponding to each of these events are created. Gains and losses are booked to separate
accounts, allowing for flexibility in updating general ledger journals and balances.
Navigation: Home Asset Management Financial Management Financial Transactions
Asset Disposal -> Retire/Reinstate Asset
13.1
Steps:
1. Enter the Business Unit in the Field provided.
2. Enter the Asset ID in the field provided.
3. Click on
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Description
Data
Business Unit
UK001
Asset Identification
13.2
Asset ID
In the LexisNexis UK, we use Scrapped Assets and Retirement by Sale options.
Scrapped Assets:
This is used when the assets are entered incorrectly and user is attempting to remove the incorrect
asset from the system and add it again.
Retirement By Sale:
This is used when the asset is sold and the proceeds are realised.
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Set Proceeds to amount of cash to be received; Ship from Loc should be the current location
of asset; uncheck Cust ID available ; Ship to Country to where asset is going.
Click VAT link (underlined and in blue).
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2. Run the Depreciation Calculation process to update the Depreciation table with the asset
retirement.
3. Run the Accounting Entry Creation process to create accounting entries within the
Distribution Line table as a result of the retirement.
4. After Depreciation Calculation process is run, the Gain/Loss on the Asset Disposal is
reflected
14.
ASSET REINSTATEMENT
Retired assets can be reinstated at any time. Once reinstated, depreciation will start again for assets
that are not fully depreciated. We have never used Asset Reinstatement in LexisNexis UK.
Navigation: Home Asset Management Financial Management Financial Transactions
Retire/Reinstate Asset
14.1
Field
Description
Data
Business Unit
UK001
Asset Identification
14.2
Asset ID
Description
Data
Accounting Date
Appropriate Date
from the calendar
2. Run the Depreciation Calculation process to update the Depreciation table with the asset
reinstatement.
3. Run the Accounting Entry Creation process to create accounting entries within the Distribution
Line table as a result of the reinstatement.
15.
REPORTS
PeopleSoft Asset Management reports are generated as the result of an asset management process
or to respond to an ad hoc request for asset information. Processes and reports can be generated as
part of scheduled batch activities or as one-time requests, all handled through the PeopleSoft Process
Scheduler. The type of report generated is usually the result of how the data is to be presented or of
the kind of processing required to produce the desired results.
15.1
RECONCILIATION AP/AM
Description
Data
Run Control ID
Description
Data
Language
Business Unit
AP Business Unit
From Date, Through Date
UK001
UK001
Appropriate Dates
15.2
Reconciliation Queries:
Lnukam_011204_Noasset Identifies the vouchers where the account number is 011204 and the
asset flag is not ticked.
Lnukam_AP_Not_Sent_To_AM - Identifies the vouchers not distributed to AM.
Lnukam_Open_Trans - This query is to ensure that there is no asset in the system for which the
Depreciation calculation and the accounting entry creation is 'Pending'.
Lneclaam_Ap_Rec - This query provides a list of all transactions that has gone from AP to AM and
their respective status for a particular Business Unit and accounting date range.
Ln_Nbv - Depreciation details for AM assets for a particular fiscal year and accounting period.
Lnukam_Depr_In_Gl - Depreciation transactions in GL for a particular fiscal year and accounting
period.
Ln_Depr_In_Gl_Summary - This query would provide the Depreciation opening, activity and closing
account balances in GL
Ln_Fa_In_Gl This query would provide the Fixed Asset additions in AM.
Ln_Fa_In_Gl_Summary - This query would provide the Fixed Asset additions account summary in
AM
Though there are several reports delivered by Peoplesoft, only the Net Book Value report is used
currently.
Field
Description
Navigation
Reconciliation AP/AM
(AMDE5001)
Depreciation Activity
(AMDP2000)
Depreciation by Period
(AMDP2200)
Reconciles AM to GL by ChartField.
(Crystal)
Reclassification (AMAS2400)