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Fiscal Software Users Guide, BSA

Asset Management
This section includes: REVISED DECEMBER 2014

13.1 Asset Management Setup Information


13.1.1 Asset Profiles
13.1.2 Asset Profile Information

13.2 Adding and Maintaining Assets


13.2.1 Add Assets Using Express Add (Recommended Method)
13.2.2 Change/Delete Pending Transactions
13.2.3 Correct Pending Transactions
13.2.4 Delete a Pending Asset
13.2.5 Edit Pending Transaction Dates

13.3 Adding/Editing Physical Attributes Using Basic Add


13.3.1 General Information
13.3.2 Asset Acquisition Detail
13.3.3 Location/Comments/Attributes
13.3.4 Manufacture/License/Custodian

13.4 Change an Asset Category

13.5 Cost Adjustments/Transfers


13.5.1 Cost Adjustment
13.5.2 Change a Project or Class Code
13.5.3 Change the Location of an Asset

13.6 Retire an Asset

13.7 Additional Features


13.7.1 Search for an Asset
13.7.2 Asset Accounting Entries
13.7.3 Asset Basic Information
13.7.4 Asset Cost History
13.7.5 Asset Depreciation Information
13.7.6 Accumulated Depreciation Adjustment
13.7.7 Print an Asset

13.8 Asset Processing


13.8.1 Month-End Processing
13.8.2 Verify Open Transactions
13.8.3 Run Calculate Depreciation (Automated Process)
13.8.4 View Depreciation Summary
13.8.5 Create Accounting Entries (Automated Process)
13.8.6 Close Depreciation (Manual Process)
13.8.7 View Asset Accounting Entries
13.8.8 Run Journal Generator (Automated Process)
13.8.9 Load Depreciation Reporting Table (Automated Process)

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13.9 Asset Management Reports


13.9.1 Transaction Reports
13.9.2 Depreciation Reports
13.9.3 Account Activity Reports
13.9.4 Accounting Entry Reports
13.9.5 Physical Inventory Reports
13.9.6 Retirement Reports
13.9.7 CF (Chartfield) and RF (Report Field) Template IDs
13.9.8 Sample Reports

13.10 Fixed Asset Reconciliation Process

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13.1 Asset Management Setup Information

The Asset Management module is designed to record all assets individually and depreciate them each month for the
appropriate amount. Accounting entries are generated each month to the appropriate asset accounts in the General
Ledger. Asset Management stores the following types of asset information:

Financial information includes details about cost, books, depreciation method and convention, and useful
life.

Physical information includes asset tag numbers, specifications, location, custodian, and manufacturer.

13.1.1 Asset Profiles

Asset profiles function as templates to provide a quick way to enter asset information. Each profile has a unique
profile ID and has several pages that describe the profile.

The highlighted fields on the Definition tab shown below are an example of the default profile information set up for
local councils:

Asset Description: When entering an asset, the value associated with the asset will default in the Asset Description
field.

Asset Type: Defines the type of asset for reporting purposes. PeopleSoft delivers these asset types: Hardware,
Software, Equipment, Property, Fleet, Machinery, Furniture, Facility, Intangible, and Other. When entering an asset,
the value associated with the asset will appear in the Asset Type field.

Acquisition Code: Selects the default acquisition code for the asset. When entering an asset, the value set at
Purchased or Leased associated with the asset will appear in the Acquisition Code field. Available options are
Constructed, Donated, Leased, Like Exchange, Purchased, Trade In, and Transfer.

Capitalized Asset: Selects the indicator to default if the asset is a capitalized asset. The default value is Capitalized
Asset.

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The highlighted fields on the Depreciation tab shown below are an example of the default profile depreciation
information set up for local councils. Many fields on this page are left blank based on the business requirements for
local councils.

Category: Defines the category of an asset as defined in the Local Council Accounting Manual. Examples include:

Method: Defines the default depreciation method as Straight Line because the BSA has chosen this method of
calculating depreciation as referenced in the Local Council Accounting Manual.

Useful Life: Defines the default useful life based on the table of estimated useful life referenced in the Local Council
Accounting Manual.

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13.1.2 Asset Profile Information

The chart below lists the available asset profiles.

PeopleSoft - Asset Profile Information Asset Addition Depreciation Close


Debit Credit Debit Credit
Useful Class Asset Clearing Depreciation Accumulated
Asset Type Profile ID PeopleSoft Asset Description Category Life Code Account Account Expense Depreciation
Land
LAND SVCTR Land-Service Center LANDS 0 99 1801 1800
LAND CAMP Land-Camp LANDC 0 25 1802 1800
Land Improvements
LAND IMP S Land Improvements-Service Ctr LNDIS 120 99 1806 1800 9501 1856
LAND IMP C Land Improvements-Camp LNDIC 120 25 1807 1800 9501 1857
Buildings
BLDGSVCTR Building-Service Center BLDGS 600 99 1811 1800 9502 1861
BLDG CAMP1 Buildings-Camp-Brick/Block BLDGC 600 25 1812 1800 9502 1862
BLDG CAMP2 Buildings-Camp-Wooden BLDGC 300 25 1812 1800 9502 1862
BLDG CAMP3 Buildings-Camp-Steel BLDGC 540 25 1812 1800 9502 1862
BLDG CAMP4 Buildings-Camp-Shelter BLDGC 120 25 1812 1800 9502 1862
Leasehold Improvements
LSE IMP SC Leasehold Improvements-Svc Ctr LSIMS 240 99 1816 1800 9503 1866
LSE IMP C Leasehold Improvements-Camp LSIMC 240 25 1817 1800 9503 1867
Furniture, Fixtures & Equipment
COMPUTERS Computers-Service Center FFESC 36 99 1821 1800 9504 1871
FFE SV CTR FF&Equipment-Service Center FFESC 120 99 1821 1800 9504 1871
FFE CAMP FF&Equipment-Camp FFEC 120 25 1822 1800 9504 1872
Motor Vehicles
VEH SVCTR4 Motor Vehicles-Svc Ctr-Bus AUTOS 108 99 1826 1800 9505 1876
VEH SVCTR3 Motor Vehicles-Svc Ctr-Tractor AUTOS 72 99 1826 1800 9505 1876
VEH SVCTR2 Motor Vehicles-Svc Ctr-Heavy AUTOS 72 99 1826 1800 9505 1876
VEH SVCTR1 Motor Vehicles-Svc Ctr-Light AUTOS 48 99 1826 1800 9505 1876
VEH CAMP5 Motor Vehicles-Camp-Bus AUTOC 108 25 1827 1800 9505 1877
VEH CAMP4 Motor Vehicles-Camp-ATV/Carts AUTOC 48 25 1827 1800 9505 1877
VEH CAMP3 Motor Vehicles-Camp-Tractors AUTOC 72 25 1827 1800 9505 1877
VEH CAMP2 Motor Vehicles-Camp-Heavy AUTOC 72 25 1827 1800 9505 1877
VEH CAMP1 Motor Vehicles-Camp-Light AUTOC 48 25 1827 1800 9505 1877
Aquatics Equipment
EQUIPMENT Aquatics Equipment-Camp EQMT 120 25 1832 1800 9506 1882
Capital Leases
CAP LEASE Capital Leases CAPLS 36 25 or 99 1836 1800 9536 1886

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13.2 Adding and Maintaining Assets

The Asset Management module is designed to record all fixed assets individually and to depreciate them each month
for the appropriate amount. Asset Management stores two types of asset informationfinancial and physical.
Financial information includes cost, books, depreciation method and convention, useful life, etc. Physical information
includes such things as tag number, specifications, location, custodian, and manufacturer.

Asset Entry Workflow

Asset entry workflow describes the steps to enter an asset into the Asset Management system. This workflow has
been designed to accommodate the manual entry of an asset. Two add methods (Express Add and Basic Add) are
used. The Express Add method takes advantage of the system defaults to streamline entry and Basic Add is used to
enter physical attributes about the asset.

Entering assets consists of a few steps.

Accounts Payable:

1. Accounts Payable Transactions: Record the asset in Accounts Payable using the 1800 (unallocated asset
acquisition) account. The system will debit the 1800 account and credit the 2006 (accounts payable)
account.
2. Asset Management Transactions: When the asset is added in the Asset Management module, the
system will debit the asset account (18011836 based on the asset profile selected) and credit the 1800
(unallocated asset acquisition) account.

Accounts Payable

Debit Credit

2-1800-XXX-99 (Unallocated Asset 2-2006-000-00 (Accounts Payable)


Acquisition)

Asset Management

2-1821-xxx-99 (Furniture, Fixtures, & 2-1800-XXX-99 (Unallocated Asset


Equipment) Acquisition)

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Construction-in-Progress:

Account 1841, Construction-in-Progress, in the Capital Fund is designed to record all costs associated with the
process of building a fixed asset. For example, someone has donated the money to build a new building at camp. The
accumulation of vendor invoices and contract payments will be recorded in the Construction-in-Progress account and
later moved to the Buildings Camp fixed asset account.

Setting up a project code for each project is recommended so that you can isolate all of the expenses related to the
construction of the asset. Record the construction in progress invoices in Accounts Payable using the 1841
(Construction-in-Progress) account and the project code of the project. The system will debit the 1841 account and
credit the 2006 (accounts payable) account.

Accounts Payable

Debit Credit

2-1841-XXX-25 (Construction-in- 2-2006-000-00 (Accounts Payable)


Progress)

When the construction project is completed, a journal entry must be made to record the asset transactions.

1. Journal Entry: Debit account 2-1800-xxx-xx (use the same project and class code that will be used when
entering the asset in Asset Management). Credit account 2-1841-xxx-xx (use the appropriate project
and class code).
2. Asset Management Transactions: When the asset is added in the Asset Management module, the
system will debit the asset account (18011836 based on the asset profile selected) and credit the 1800
(unallocated asset acquisition) account.

Construction-in-Progress (Journal Entry)

Debit Credit

2-1800-XXX-25 (Unallocated Asset 2-1841-XXX-25 (Construction-in-


Acquisition) Progress)

Asset Management (Asset Addition)

2-1812-xxx-25 (Buildings Camp) 2-1800-XXX-25 (Unallocated Asset


Acquisition)

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13.2.1 Add Assets Using Express Add (Recommended Method)

Express Add adds assets using an asset profile for default book and depreciation information. When assets are
capitalized, most of the critical information is derived from the asset profile by default, and detailed physical
information can be entered later. Navigate to the Express Add menu to add an asset.

Business Unit: Enter the council number in the Business Unit field.

Asset Identification: Enter the desired asset number in the Asset Identification field or leave the default NEXT to
accept the system-generated asset number. (Dont confuse the asset identification number with the tag number, as
it is a different field.)

Click the Add button.

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Follow the steps below to add assets into PeopleSoft:

1. Profile ID: Select the asset profile ID from the lookup list.

2. Description: Enter the asset description.

3. Location: Select the location of the asset.

4. Trans Date: Typically, this date represents the date the asset is acquired. Depreciation is calculated from
this date. (This date defaults to the acquisition date.)

5. Acctg Date: The date the transaction will post to the General Ledger.

6. Accum Depr in Current Pd: Check the box to have the system book accumulated depreciation for the asset
to the current period. Otherwise, accumulated depreciation is booked to the previous period. If that is the
case, you may need to reopen the period, calculate depreciation, and close depreciation again for prior
periods.

7. Currency: System should default to USD. Rate Type: System should default to CRRNT.

8. Book Name: System should default to ACTUALS.

9. Quantity: Make this 1 to keep each asset set as a single asset ID.

10. Cost: Enter the cost or fair market value of the asset.

11. Salvage: Enter an amount, if applicable.

12. Category: Choose the category that matches the asset description.

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13. Accum Depr: Enter the amount of depreciation already recognized. If you are adding assets that have
depreciation from prior years or prior periods, enter that amount in this field.

14. YTD Depr: Enter the amount of any portion of the accumulated depreciation amount that applies to the
current fiscal year.

15. Fund: Enter 2.

16. Project: Select the project code where depreciation expense is to be recorded, e.g., 000.

Note: Chartfields (Fund, Project, and Class): When entering the funding string, this is where the acquisition
and future depreciation will be recorded, so if the project code is inactivated, the asset will need to be
transferred.

17. Class: Class code 25 should be entered for camp (program) related assets. Class code 99 should be entered
for non-camp (unallocated) related assets.

18. Default Profile: When the Default Profile button is clicked, two additional pages will appearthe
Depreciation Information page and the Tax page. Information on these pages will default from the profile
ID.

Information on this page will default from the Profile ID.

19. Asset Type: Select a value to indicate the type of asset. The options are Equipment, Facility, Fleet, Furniture,
Hardware, Intangible, Machinery, Other, Property, and Software.

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20. Asset Status: Indicate the status by selecting one of the following options:
Budgeted: Asset is budgeted but not placed in service.
Commitment: Budget has been approved and you are preparing to acquire the asset.
Disposed: Asset is no longer in service.
In Service: This is the date that the asset is available for use.
Received: Asset was received but is not yet placed in service.
Suspended: Depreciation has been suspended for this asset.
Transferred: This asset was transferred from another business unit.
WIP (work in progress): Asset is acquired for a project under way.

21. Acquisition Date: Enter the date the asset was acquired.

22. Acquisition Code: Select an acquisition code: Constructed, Donated, Leased, Like Exchange, Purchased,
Trade In, or Transfer.

23. Parent/Child: If you are adding a parent or child asset, select the parent/child asset option that applies.

24. Parent ID: If this is a child asset, enter the parent asset ID with which to associate it.

25. Save: Click the Save button to save the asset.

Depreciation Information: Click the Depreciation Information tab to view or edit depreciation information. The
system automatically populates several of the data fields (highlighted below) displayed within the Depreciation
Information tab. Information such as the method of depreciation and useful life of the asset in months and years is
populated from the asset profile. The information should be verified and changes made if necessary. Many fields on
this page are left blank based on the business requirements for local councils.

Information on this page will default from the Profile ID.

The default values for highlighted fields should not be changed with the exception of Useful Life:
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1. Status: System default is Depreciable.

2. In Service Date: System defaults to the acquisition date.

3. Useful Life: The default value is determined from the asset profile. The period can be changed if necessary. For
example, a donated asset may not have the same useful life value as assigned by the asset profile, and a different
useful life value should be entered.

4. Save: Press the Save button and an asset ID will be assigned. Remember the asset ID number, as you will need it to
add the physical information.

Once saved, the asset is in a pending transaction status and can be deleted or edited until the end of the business
day. An overnight process will calculate depreciation and create accounting entries for the asset.

13.2.2 Change/Delete Pending Transactions

If an asset entry error is identified before the overnight accounting entries are processed, the asset information can
be edited or deleted. Navigate to the Change/Delete Pending Trans menu to make corrections.

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13.2.3 Correct Pending Transactions

Click the Update button to make corrections to items such as fund, class, project, category, accumulated
depreciation, or cost fields.

Changes can be made to any of the highlighted fields below.

Click the OK button to save changes.

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13.2.4 Delete a Pending Asset

Click the Delete button to delete a pending asset.

Click OK to delete the pending asset.

13.2.5 Edit Pending Asset Transaction Dates

Select the Edit Trans Info button to make changes to the transaction date or accounting date of a pending asset.

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The screen below will appear. After making changes to the transaction date or accounting date fields, click OK to
save the changes.

13.3 Adding/Editing Physical Attributes Using Basic Add

Using Basic Add is the second step in the asset add workflow. With Express Add, you have created, capitalized, and
assigned an ID to a new asset. The Basic Add functionality allows you to record additional physical attributes.

The following search screen appears:

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Enter the Business Unit and the Asset Identification number assigned by the system. Press the Search button, and
then click on the appropriate link in the results. Many fields on this page are left blank based on the business
requirements for local councils.

There are additional pages in the Basic Add function to identify and store information about the asset. They include
General Information, Asset Acquisition Detail, Location/Comments/Attributes, and Manufacture/License/Custodian,
and are discussed in more detail in the following sections.

13.3.1 General Information

The system automatically populates several of the data fields displayed on the General Information tab.

Description: Descriptive information about the asset can be edited.

Short Desc: Information can be edited.

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Taggable Asset and Tag Number: These are optional. If tags are used to track assets, check the box and enter the tag
number assigned to the asset.

Asset Type: Select a value to indicate a type of asset. The available options are Equipment, Facility, Fleet, Furniture,
Machinery, Other, Property, and Software.

Asset Status: Select the appropriate asset status from the following options:
Budgeted: Asset is budgeted but not placed in service.
Work in Progress: Asset is acquired for a project under way.
Requisitioned: Necessary paperwork has been completed for acquisition.
Commitment: Budget has been approved and the asset is being acquired.
Received (not in service): Asset has been received but not yet placed in service.
In Service: Indicates the date the asset is available for use. The transaction date is the default.
Disposed: Asset has been disposed of.
Transferred: The asset has been transferred from one business unit to another.
Suspended: Depreciation has been suspended for the asset.

Acquisition Date: The date the asset was acquired. This field may be automatically populated.

Placement Date: The date that the asset is placed in service for physical purposes.

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Acquisition Code: The acquisition code indicates how the asset was acquired. The options are as follows:

Donated: Use for donated assets.


Constructed: Use for constructed assets.
Leased: Use to tie an asset to a capital or operating lease. You must also specify the capital or operating
lease asset ID.
Purchased: This option is used for purchased assets. This is the default value.
Transferred: Transferred, either within the same business unit or to another business unit.

Appraisal Date: This display-only field indicates the date the current fair value was updated.

Replacement Cost: Indicates how much it would cost to replace the asset.

Last Update: If you are calculating the replacement cost using an index, the date that you performed the last update
appears here. When the asset is added, this date is the accounting date.

Parent/Child: Select the appropriate option in the Parent/Child field.

Parent ID: Select the appropriate option.

Profile ID: Displays the asset profile that matches the asset being entered.

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13.3.2 Asset Acquisition Detail

This page shows information about how the asset was acquired and keeps track of the separate costs and acquisition
amounts of components that make up the asset.

The Acquisition Detail Chartfields information page will open when the hyperlink is clicked. See the example below:

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13.3.3 Location/Comments/Attributes

There are optional data fields that may be used to record information pertaining to an asset. The location and
physical properties of the asset (such as color, height, and weight), comments, and a stored image of the asset can
be viewed or edited from this page.

To change the location of an asset, click the search button and then select the location.

Refer to the Managing Locations section of the user guide to create a new location or edit existing location
information.

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13.3.4 Manufacture/License/Custodian

Custodial information, license information, and manufacturer-related information can be viewed or edited on this
tab.

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13.4 Change an Asset Category

Periodically, it is necessary to make changes to asset records to correct errors or add newly received information.
You can modify any information that has been entered about assets by navigating to the Cost Adjust/Transfer Asset
menu.

Business Unit: Enter the council number in the Business Unit field.

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Asset Identification: Enter the asset number in the Asset Identification field and click the Search button. If the asset
number is not known, click the Search button for a listing of all assets.

1. Transaction Date: Effective date of change; enter the desired date change.

2. Accounting Date: Enter the effective date of the accounting period.

3. Action: Select Recategorize.

4. GO!: Click the GO! button.

Category: Select the correct category from the drop-down list.

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Click the Save button to end the procedure.

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13.5 Cost Adjustments/Transfers

13.5.1 Cost Adjustment

Adjustments
Follow these steps if you need to change price information for an asset.
Navigation: Asset Management>Search for an asset

Enter the asset ID or whatever information you have to retrieve the asset, and then click the search button.
Select the asset by clicking the radio button next to the asset ID. Then select Asset Cost Adjust/Transfers from the
drill-down menu and click the GO! button.

A new window will open in which you can make the adjustment.

Change Cost

In the Action field, select Adjustment and click the GO! button.

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Enter the change in price in the Adjust Current Row By box, click the Apply button, then click the Save button.

Note: The original asset previewed in Asset Basic Information will not reflect these changes. To review these
adjustments, you must look at the Asset Cost History.

Navigation: Asset Management>Search for an asset

Then select

13.5.2 Change a Project or Class Code

Select Transfer in the Action box and click the GO! button:

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Note: The original asset previewed in Asset Basic Information window will not reflect these changes. To review these
adjustments, you must look at the Asset Cost History.

Navigation: Asset Management>Search for an asset

You can see the details of the transfer of the budget code by clicking on the Detail link. You will have to click on
multiple screens to review the changes.

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13.5.3 Change the Location of an Asset

Navigation: Asset Management>Search for an asset

Enter the asset ID or whatever information you have to retrieve the asset, and then click the search button.

Select the asset by clicking the radio button next to the asset ID. Then select Asset Basic Information from the drill-
down menu and click on the GO! button.

A new window will open for you to make the transfer to a new location. Click on the Location/ Comments/Attributes
tab.

Click on the + button to insert a new effective date row, which will have the current date.
Then change the location code in the Location box.

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13.6 Retire an Asset

Assets are retired when they are either disposed of or no longer in use. When you retire an asset, Asset Management
creates all the necessary journal entries to remove the assets financial information. Retired assets can be reinstated
at any time within the system. If the asset is not fully depreciated, depreciation will start up again from the date it is
reinstated.

When an asset is retired, the asset is taken off the books after the retirement has been fully processed and
accounting entries have been created. No further depreciation accrues for this asset.

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Business Unit: Enter the council number in the Business Unit field.

Asset Identification: Enter the asset number and click the Search button. If the asset number is not known, click the
Search button for the listing of assets.

Click on a listed asset to select the asset to retire.

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Click the Retire As drop-down box, and select the desired description (e.g., Casualty Loss).
Press the Go button, and the asset will be retired. Conversely, to reinstate an asset already retired, press the
Reinstate button. Click Save when you are done.

The following fields should be reviewed to ensure accuracy:

Trans Date (Transaction Date): The transaction date reflects the date the retirement actually took place.

Acctg Date (Accounting Date): The accounting date determines when the retirement transaction is posted to the
general ledger.

Retire As: Specify the type of retirement transaction to process by selecting from the list of disposal codes.

Removal Cost: Enter the amount, if applicable.

Proceeds: Enter the amount, if applicable.

Click the Save button.

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13.7 Additional Features


13.7.1 Search for an Asset

PeopleSoft has added a Search for an Asset feature that allows you to search for assets based on specific criteria.
From these search results, you can drill down to details in the Asset Management system.

Navigation: Asset Management>Search for an Asset

Enter any combination of data to narrow the search. The only required criterion is the business unit. You can retrieve
additional information by clicking checkboxes under the Retrieve section (Cost Information, etc.). Press the Search
button to see the results.

Note: The Asset Status field defaults to In Service. Remove this criterion to search for new assets that have not been
paid yet for or for disposed assets.

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A drill-down feature also becomes available to navigate you through different views and, depending on your security
access, to modify information related to an asset.

Basic information will appear for all assets that meet the criteria entered. The different tabs will show information
for each asset, or you can select one asset by clicking the radio button, selecting one of the drill-down selections,
then pressing the GO! button. A new window will open with the corresponding Asset Management screen.

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13.7.2 Asset Accounting Entries

This option allows you to review the accounting transactions related to an asset.

Select Asset Accounting Entries, then click on the GO! button.

Note: The accounting entry for an asset addition DEBITS the asset account associated
with the asset profile (e.g., 1822 FF&E Camp) and CREDITS account 1800 Unallocated
Asset Acquisition. The accounting entry also retains the project and class codes.

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13.7.3 Asset Basic Information

Depending on your security access, this option allows you to view or update the physical information related to the
asset.

Select Asset Basic Information, then click on the GO! button.

13.7.4 Asset Cost History

Depending on your security access, this option allows you to view the cost history of an asset.

Select Asset Cost History, then click on the GO! button.

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13.7.5 Asset Depreciation Information

Depending on your security access, this option allows you to view the depreciation schedule for an asset.

Select Asset Depreciation, then click on the GO! button.

Select the Depreciation tab to view net book value and depreciation information.

To calculate the net book value of the asset, enter values in the As Of Fiscal Year field and the Period field, and click
the Calculate NBV (calculate net book value) button. The system will display the cost, salvage value, accumulated
depreciation, and net book value for the selected asset, fiscal year, and accounting period.
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13.7.6 Accumulated Depreciation Adjustment


Select the Period Depreciation tab to view period depreciation information.

Click the Depr. Accum Adjustment link to adjust accumulated depreciation amounts.

1. Trans Date: The transaction date reflects the date the adjustment actually occurred.

2. Acctg Date: The accounting date determines when the adjustment transaction is posted to the General
Ledger.

3. Depr Accum Adjustment: Enter the amount of the adjustment; enter a negative number to reduce the
accumulated depreciation amount.

4. Click the Save button.

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13.7.7 Print an Asset

Depending on your security access, this option allows you to print detailed information for an asset.

Select Print an Asset, then click on the GO! button.

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13.8 Asset Processing

When assets or leases are entered in Asset Management, no processing takes place. Processes must be run
periodically to calculate depreciation, create accounting entries, and generate journal information. Asset
Management will create journals that go into the ACTUALS ledger.

The following is a list of transactions that should be run periodically.

13.8.1 Month-End Processing

Month-End Procedures Navigation Process


Verify Open Transactions Asset
It is a good idea to review transactions to make Management>Depreciation>Open
sure the open transactions match expectations. Transactions> Review
*Run Calculate Depreciation Asset AM_DEPR_CALC
You must run the depreciation calculation process Management>Depreciation>Proce
to calculate depreciation for every transaction ssing>Calculate
you perform against an asset.

Run this process as often as you like.

*This process runs automatically each night.


*Load Depreciation Reporting Tables Asset Management>Financial AMDPREPT
OPTIONAL Used for delivered reports. Reports>Load Reporting
Tables>Depr Reporting Table
Should run this every time you run
AM_DEPR_CALC to ensure the reports are
showing accurate information.

*This process runs automatically each night.


View Depreciation Summary Asset
Management>Depreciation>Revie
OPTIONAL Good idea to spot check before w Depreciation Info> Asset
creating accounting entries. Depreciation

Create Accounting Entries Asset Management>Accounting AM_AMAEDIST


Entries may be reviewed at AM>Accounting Entries>Create Accounting Entries
Entries>Review Financial Entries.
May prefer to process Calculate Depreciation and
Create Accounting Entries daily.
Note: Must run Depreciation Close to create
depreciation accounting entries (see next step).

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**Run Depreciation Close Asset AM_DPCLOSE


The Depreciation Close process generates period Management>Accounting
depreciation accounting entries for all depreciable Entries> Close Depreciation
assets in a particular accounting period, including
lease payments and offset accounts for the period.

Run this process only for an accounting period that


has not yet been closed. This process can be reversed
or rerun if errors are detected in the results.

This is where the depreciation entries are created. This,


along with the journal generator, gives you the
depreciation. To check this out, go to view asset
accounting entries for an asset, run this process, then
view the entries again. DPR should now show for the
period processed. This will have to be run for every
period.

**This process does not run automatically each night.


View Asset Accounting Entries Asset
The Review Financial Entries page is used to review Management>Accounting
accounting entries that have been created during Entries> Review Financial
asset processing, such as additions, transfers, Entries
depreciation, and so forth.

*Run Journal Generator GL>Journals>Subsystem FS_JGEN


Select AMDEFN Accounting Definition Name to limit Journals>Generate Journals
entries to AM. Limit business unit selection to your
business unit.

*This process runs automatically each night.

*Load Depreciation Reporting Tables Asset Management>Financial


Once you have created accounting entries for an Reports>Load Reporting
accounting period and run journal generator, you load Tables>Depr Reporting Table
the depreciation reporting tables to update
information on depreciation reports.

*This process runs automatically each night.

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13.8.2 Verify Open Transactions

To view open transactions, navigate to Asset Management>Depreciation>Open Transactions>Review.

Conduct a search of Asset Management by any criteria to narrow the field to just open items. The system keeps track
of each asset and its status, so to determine the assets that need depreciation processing, change the Depreciation
Calc Status to: not = Completed Depreciation. The pending transactions will be shown.

13.8.3 Run Calculate Depreciation (Automated Process)

This process is run automatically overnight. This process must run to calculate depreciation for every transaction
performed against an asset. This process can be run as often as needed. To run the Calculate Depreciation process,
navigate to Asset Management>Depreciation> Processing>Calculate.

1. Find the run control or click the Add a New Value tab.
2. Run Control ID: Enter Calculate-Depreciation (no spaces allowed).
3. Click Add to create the run control. After initial creation, it may be searched and used in the future. You
should need only one control for this effort.

The following page will display:

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Be sure to change the Process Frequency field to Always, and enter your business unit and book name (ACTUALS),
then click Save. By leaving the From Asset ID and To Asset ID fields blank, you will calculate depreciation on all valid
assets.

Click Run to start the process and the following page will display.

Click OK and go to Process Monitor to track the status.

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13.8.4 View Depreciation Summary

It is a good idea to spot check before creating accounting entries. To do this, navigate to
Asset Management >Depreciation>Review Depreciation Info>Asset Depreciation.

Select an asset to review. In this instance, Asset 000000000003 was selected.

The Depreciation tab displays the total depreciation by year.

To view monthly depreciation charges for the year, select a year and click on its link.

The next steps are to run the Create Accounting Entries and Depreciation Close processes.

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13.8.5 Create Accounting Entries (Automated Process)

This process is run automatically overnight. This process will create entries for any non-depreciation-related
transactions such as asset additions or retirements. This process can be run as often as needed. To run the Create
Accounting Entries process, navigate to Asset Management>Accounting Entries>Create Accounting Entries.

1. Find the run control or click the Add a New Value tab.
2. Run Control ID: Enter Create-Accounting-Entries (no spaces allowed).
3. Click Add to create the run control. After initial creation, it may be searched and used in the future. You
should need only one control for this effort.

Enter a Run Control ID and the following page will display:

Be sure to change the Process Frequency field to Always, and enter the business unit and book name (ACTUALS),
then click Save. By leaving the From Asset ID and To Asset ID fields blank, you will calculate depreciation on all valid
assets.

Click Run to start the process and the following page will display.

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Click OK and go to Process Monitor to track the status.

13.8.6 Close Depreciation (Manual Process)

This IS NOT a process that is run automatically overnight. The Depreciation Close process generates period
depreciation accounting entries for all depreciable assets in a particular accounting period and offset accounts for
the period. Run this process only for an accounting period that has not yet been closed. This process can be reversed
or rerun if errors are detected in the results.

To run the Depreciation Close process, navigate to Asset Management>Accounting Entries>Close Depreciation.

1. Find the run control or click the Add a New Value tab.
2. Run Control ID: Enter Close-Depreciation (no spaces allowed).
3. Click Add to create the run control. After initial creation, it may be searched and used in the future. You
should need only one control for this effort.

Enter a Run Control ID and the following page will display:

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Make sure Process Frequency is Always, then fill in the Unit, Book Name (ACTUALS), Fiscal Year, and Period fields,
and click Save.

Note: You can run Depreciation Close for only one month at a time. If you have a problem, you must reverse posted
entries and then rerun Depreciation Close. If this should occur, you should contact the National Support Center to
work through the problem.

Click Run to start the process and the following page will display:

Click OK to run the process. Go to Process Monitor to track the status.


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13.8.7 View Asset Accounting Entries

The Asset Accounting Entries page is used to review accounting entries that have been created during asset
processing, such as additions, transfers, retirements, depreciation, and so forth.

To view an assets accounting entries, navigate to Navigation: Asset Management>Accounting Entries>Review


Financial Entries.

Enter the asset number. In this example, asset 000000000003 was selected. Click Search, and all the accounting
entries display in date sequence.

Click on the Chartfields or Journal tab to see more specific information related to the financial entries.

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Click on Detail at the end of the line and the following page will display more information about transactions,
including the Journal ID that created the transaction.

13.8.8 Run Journal Generator (Automated Process)

This process is run automatically overnight. Run Journal Generator and select AMDEFN Accounting Definition Name
to limit entries to Asset Management. Limit the Application Business Unit selection to your business unit. The ledger
to use with Asset Management is the ACTUALS ledger. Although this process runs every two hours, it can be run in
the event the journal information is needed immediately.

To run Journal Generator, navigate to General Ledger>Journals>Subsystem Journals>Generate Journals.

1. Find the run control or click the Add a New Value tab.
2. Run Control ID: Enter AM-Generate-Journals (no spaces allowed).
3. Click Add to create the run control. After initial creation, it may be searched and used in the future. You
should need only one control for this effort.
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Enter a Run Control ID, and the following page will display:

Place check marks in the boxes next to Edit and Post and enter your business unit. Complete the page as shown
above with SetID: LOCAL, Accounting Definition Name: AMDFEN, and Ledger Group: ACTUALS. Click Save and then
Run.

Click OK.

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To view Asset Management journal entries, navigate to General Ledger>Journals>Journal Entry>Create/Update


Journal Entries.

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13.8.9 Load Depreciation Reporting Table (Automated Process)

Asset Management provides several depreciation-related reports. Before you can run depreciation reports, the
process to load the Depreciation Reporting table (PS_DEPR_RPT) must run. This process is schedule to run nightly;
however, you can run the process using the following steps if depreciation report information is needed before the
nightly process is run.

To load the depreciation reporting tables, navigate to Asset Management>Financial Reports>Load Reporting
Tables>Depr Reporting Table.

1. Find the run control or click the Add a New Value tab.
2. Run Control ID: Enter the name of the run control, e.g., Depr-Reporting-Table.
3. Click the Add button.

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1. Process Frequency: Select Always from the drop-down menu.


2. From Year: Enter 1919. To Year: Enter 2020.
3. Check the box next to Keep Other Fiscal Years.
4. Enter business unit.
5. Check the box next to Process Current Activity.
6. Click the Save button.
7. Click the Run button.

Click the OK button.

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13.9 Asset Management Reports


This chapter provides an overview of various PeopleSoft Asset Management reports. The following tables list the
PeopleSoft Asset Management reports, sorted alphabetically by report ID within each of the following report
categories.

13.9.1 Transaction Reports

Asset Management Reports Description Navigation


Cost Activity Sorts cost activity by chartfield, by Asset Management>Financial
Report: AMAS2000 category, or by account. Reports>Cost and Depreciation>
Cost Activity Report
Asset Acquisitions by Chartfield Lists asset information and also Asset Management>Financial
Report: AMAS2100 includes cost, lifetime value (LTV), Reports>Asset Details>Acquisitions
year-to-date (YTD) depreciation,
and net book value with chartfield,
book, and report totals.
Asset Acquisitions by In Service Date Lists asset information and also Asset Management>Financial
Report: AMAS2100 includes cost, lifetime value (LTV), Reports>Asset Details>Acquisitions
year-to-date (YTD) depreciation,
and net book value with chartfield,
book, and report totals.
Assets by Location Lists information on assets by Asset Management>Financial
Report: AMAS2200 location. Reports>Asset Details>Location
Assets by Asset ID Lists assets by asset ID. Asset Management>Financial
Report: AMAS2210 Reports>Asset Details>Location
Asset Transfers by Chartfield Lists asset transfer transactions Asset Management>Financial
Report: AMAS2300 ordered by chartfield. Reports>Cost and
Depreciation>Asset Transfers
List of Asset Licenses Lists asset licenses. Asset Management>Service and
Report: AMAS1700 Maintenance>Reports>License
Information

13.9.2 Depreciation Reports

Asset Management Reports Description Navigation

Depreciation Activity Sorts cost activity by chartfield, by Asset Management>Financial


Report: AMDP2000 category, or by account. Reports>Cost and Depreciation>
Depreciation Activity
Net Book Value Sorts cost activity by chartfield, by Asset Management>Financial
Report: AMDP2100 category, or by account. Reports>Cost and Depreciation
>Asset Net Book Value
Depreciation by Period Sorts assets by period depreciation Asset Management>Financial
Report: AMDP2200 at asset category or book level. Reports> Cost and Depreciation
>Depreciation by Period
Depreciation by Fiscal Year Sorts assets by fiscal year Asset Management>Financial
Report: AMDP2300 depreciation at asset category or Reports>Cost and Depreciation
book level. >Depreciation by Fiscal Year

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13.9.3 Account Activity Reports

Asset Management Reports Description Navigation


Account Activity Summary Cost Lists cost and related transaction Asset Management>Financial
Report: AMAS2030 amounts per account with Reports>Accounting
chartfields, book, and report totals. Entries>Account Activity Summary
Account Activity Summary Lists depreciation and related Asset Management>Financial
Depreciation transaction amounts per account Reports>Accounting
Report: AMDP2030 with chartfields, book, and report Entries>Account Activity Summary
totals.
Account Activity Summary Net Lists cost balance, year-to-date Asset Management>Financial
Book Value (YTD) and life-to-date (LTD) Reports>Accounting
Report: AMAS2130 depreciation, and net book value Entries>Account Activity Summary
amount per account.

13.9.4 Accounting Entry Reports

Asset Management Reports Description Navigation


Accounting Entry Detail Lists accounting entry details. Asset Management>Financial
Report: AMAE2100 Reports>Accounting
Entries>Accounting Entry
Retired as Expensed Accounting Retrieves accounting entry Asset Management>Financial
Entry information for assets that are Reports>Accounting
Report: AMAE2102 disposed as expensed. Entries>Accounting Entry
Accounting Entry Detail Cost Lists cost and related transaction Asset Management>Financial
Report: AMAE2110 amounts per asset, with chartfields, Reports>Accounting
book, and report totals Entries>Account Activity Summary
Accounting Entry Detail Lists depreciation and related Asset Management>Financial
Depreciation transaction amounts per asset, with Reports>Accounting
Report: AMAE2120 chartfields, book, and report totals Entries>Account Activity Summary
Accounting Entry Detail Net Book Lists cost balance, year-to-date Asset Management>Financial
Value (YTD) and life-to-date (LTD) Reports>Accounting
Report: AMAE2130 depreciation, and net book value Entries>Account Activity Summary
(NBV) amounts per asset.

13.9.5 Physical Inventory Reports

Asset Management Reports Description Navigation


Inventory Report (Detail Version) Lists detailed information about Asset Management>Financial
Report: AMDE4001 assets within inventory. Reports>Asset Details>By Location>
Inventory Report (Detail Version)
Inventory Report (Short Version) Lists summarized information about Asset Management>Financial
Report: AMDE4002 assets within inventory Reports>Asset Details>By Location>
Inventory Report (Short Version)

13.9.6 Retirement Reports

Asset Management Reports Description Navigation


Retirement by In Service Date Sorts retirement information with Asset Management>Financial
Report: AMRT2010 totals per in service year/period. Reports>Retirement>Retirement
Information Report
Retirement Activity Lists retirement-related information. Asset Management>Financial
Report: AMRT2100 Reports>Retirement>Retirement
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Activity

13.9.7 CF (Chartfield) and RF (Report Field)Template IDs

Some Asset Management reports require a CF Template ID and an RF Template ID before the report will generate
successfully. These template IDs must be added when creating the Asset Management report run control for the first
time.

If a Field is required message appears when you run an Asset Management report, click OK and complete the
following steps.

Click on the drop-down arrow in the CF or RF Template ID field. If the templates do not exist, they must be created.

To create the CF Template ID, click on the Update/Add CF Template link.

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Enter a template name in the CF Template ID field, e.g., CF Template, then click the Add Template link.

In the Chartfields section, edit the information in the Field Order, Include in Report, and Print subtotals columns as
shown above and click OK.

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Click the Update/Add RF Template link to create the Report Field template.

Enter a template name in the RF Template ID field, e.g., RF Template, then click the Add Template link.

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Accept the defaults as shown above and click OK.

Click the Save button, then click the Run button.

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Check the box next to Asset Net Book Value Detail and click OK.

Click the Process Monitor link.

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Check to see if Run Status shows Success and Distribution Status shows Posted. If so, click the Go back to Asset Net
Book Value link to return to the main screen.

Click the Report Manager link.

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Select the Administration tab and click the Asset Net Book Value Detail link to view the report.

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13.9.8 Sample Reports

Cost Activity Detail Report AMAS2000 Page 13-64


Asset Acquisition Detail by Chartfield AMAS2100 Page 13-65
Asset Acquisition Detail by In Service Date AMAS2110 Page 13-66
Assets by Location AMAS2200 Page 13-67
Assets by Asset ID AMAS2210 Page 13-68
Asset Transfers by Chartfield AMAS2300 Page 13-69
List of Asset Licenses AMAS1700 Page 13-69
Depreciation Activity AMDP2000 Page 13-70
Net Book Value AMDP2100 Page 13-71
Depreciation by Period AMDP2200 Page 13-71
Depreciation by Fiscal Year AMDP2300 Page 13-72
Account Activity Summary (Cost) AMAS2030 Page 13-73
Account Activity Summary (Depreciation) AMDP2030 Page 13-74
Account Activity Summary (Net Book Value) AMAS2130 Page 13-75
Inventory Report (Detail Version) AMDE4001 Page 13-76
Inventory Report (Short Version) AMDE4002 Page 13-77
Retirement by In Service Date AMRT2010 Page 13-78
Retirement Activity AMRT2100 Page 13-79

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Cost Activity Detail Report AMAS2000

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Asset Acquisition Detail by Chartfield AMAS2100

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Asset Acquisition Detail by In Service Date AMAS2110

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Assets by Location AMAS2200

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Assets by Asset ID AMAS2210

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Asset Transfers by Chartfield AMAS2300

List of Asset Licenses AMAS1700

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Depreciation Activity AMDP2000

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Net Book Value AMDP2100

Depreciation by Period AMDP2200

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Depreciation by Fiscal Year AMDP2300

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Account Activity Summary (Cost) AMAS2030

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Account Activity Summary (Depreciation) AMDP2030

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Account Activity Summary (Net Book Value) AMAS2130

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Inventory Report (Detail Version) AMDE4001

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Inventory Report (Short Version) AMDE4002

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Retirement by In Service Date AMRT2010

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Retirement Activity AMRT2100

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13.10 Fixed Assets Reconciliation in PeopleSoft

The following steps will aid in the fixed asset reconciliation process for councils using the PeopleSoft
Asset Management module.

Step Description
1 Print the Net Book Value report
2 Generate a Trial Balance in Excel format and save the file as the asset reconciliation
worksheet
3 Filter asset reconciliation worksheet by Fund 2 and 18xx accounts
4 Add columns for net book value amount and variance
5 Enter asset and accumulated depreciation values from the Net Book Value report
6 Research variances between the Net Book Value report and GL accounts
7 Correct reconciliation variances

Step 1. Print the Net Book Value report for the reconciliation accounting period. Instructions to print the
Asset Net Book Value report are located in APP6 of the user guide.

Once the Net Book Value Run Control is set up, enter the fiscal year and accounting period, and then click
Run. The example shown below will produce the Net Book Value report for February 2013.

Check the box next to Asset Net Book Value Detail, and then click OK.

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Navigate to the Report Manager menu, click on the Administration tab, and click on the Asset Net Book
Value Detail link to open the report.

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The Net Book Value Detail report displays asset information, such as the account number, asset
description, and asset ID, and account chartfield information, such as the fund, project code, and class
code of each asset. The report also displays the asset cost, current month depreciation, year-to-date
depreciation, life-to-date depreciation, and the net book value of each asset grouped by category. Default
page breaks are set as account numbers change. The last page of the report provides report totals.

To print the report, move the mouse to the lower middle portion of the report and a menu will appear. It
is recommended to print the report in landscape orientation because the report font is small.

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Step 2. Generate a Trial Balance for the reconciliation accounting period and export it to an Excel
spreadsheet. Save the file and rename it as the asset reconciliation worksheet.

Step 3. Filter the asset reconciliation worksheet by Fund 2 and the 18xx accounts.

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Step 4. Add a column for net book value (NBV) information and a column for variance information.

Step 5. Enter asset and accumulated depreciation values from the Net Book Value report to the Net Book
Value (NBV RPT) and Variance columns of the asset reconciliation worksheet.

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After the Net Book Value report values are entered on the asset reconciliation worksheet, verify the asset
totals entered on the worksheet to make sure they agree with the asset total displayed on the last page of
the Net Book Value report.

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After the Net Book Value report values are entered on the asset reconciliation worksheet, verify the
accumulated depreciation totals entered on the worksheet to make sure they agree with the LTD Depr
total displayed on the last page of the Net Book Value report.

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Step 6. Research variances between the Net Book Value report values and the Trial Balance account
values.

There may be a variety of reasons why variances exist between the Net Book Value report and asset and
accumulated depreciation account balances on the Trial Balance. The first action to take is to verify that all
asset management accounting entries are created and posted. Ensure that all asset addition, adjustment,
transfer, retirement, and depreciation journal entries are created and posted. If depreciation entries are
missing, the Depreciation Close process will need to be run in order for the depreciation accounting
entries to post.

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It is not uncommon for an asset management journal entry to have a Journal Header Status of Errors if the
accounting period was not open when the asset management transaction was created, as shown in the
following example.

Step 7. Correcting reconciliation variances may be as simple as closing depreciation for a specific period
or editing and posting a journal entry that was created but may have errors. If the information presented
on the Net Book Value report is not correct, refer to the appropriate section of this chapter for
instructions on how to change asset information within the asset management module. If the Net Book
Value report information is correct, then a journal entry should be made to correct asset and accumulated
depreciation accounts on the Trial Balance so the values agree with the information on the Net Book Value
report.

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