Asset Management

Overview

Overview of Asset Management at UVM Overview of basic information stored

for an asset Asset processing activities Modifying Asset Information Inquiry & Reporting Asset Management Responsibilities

Asset Management at UVM

Approximately 3000 pieces of moveable equipment inventoried (not capitalized)

Approximately 400 buildings Only a few software assets Approximately 300 vehicles (primarily not

capitalized) Other assets

Basic Information Stored for an Asset Custodian

Department or Project Grant that ‘owns’ the asset Description Asset Notes/Comments UVM Tag # In Service Date Acquisition Date (or date received, if the equipment was furnished

by the Federal Government) Disposal Date Unit Acquisition Cost Manufacturer's Name/Vehicle Make Manufacturer’s Serial Number VIN Model Location

Other Asset Info Captured Other fields used for Vehicles

License Information (Plate #, Registration #, and Title #) Production Date (Model Year) Weight

Custom Attributes (Building, Room, Condition with effective date)

Product Version - federal stock number, national stock number, or other identification number.

Ultimate disposition data, including date of disposal and sales price or the method used to determine current fair market value where a recipient compensates the Federal awarding agency for its share, will be included as a Comment.

Asset Management at UVM All depreciation is straight line. Only moveable equipment assets over

$100,000 are capitalized and depreciated. Any moveable equipment less that

$100,000 will not be capitalized, unless the moveable equipment is included in the cost of a construction project and will be capitalized as a part of the project costs.

Renovation and construction projects over $25,000 are capitalized.

All buildings and structures, and fixed equipment are considered fixed assets.

All fixed equipment included in the initial construction or major rehabilitation project shall be capitalized. Fixed equipment of $5,000 or more acquired at other times will be capitalized.

Moveable equipment received as a gift may be recorded as a gift in kind and assigned to the benefit of a specific University department.

Any major application software and appropriate implementation costs (i.e. training and moveable equipment) will be capitalized if the total project is greater than $100,000.

Asset Management at UVM

Asset Management at UVM –

Useful Lives Moveable equipment - 5 years Building components are only broken down for 3

research buildings. Other buildings are capitalized in total and depreciated over 40 years.

Building service systems - 25 years Building interiors - 20 years Building shell - 40 years

Fixed equipment - 15 years Software - 7 years

Asset CategoriesAsset categories classify assets by type for accounting entry purposes. Typically, these categories reflect how assets are reported on balance sheets.

MEQFA – moveable equipment between $5K - $100K MEQPD – moveable equipment depreciable over $100K BLDGS – buildings BLINT – building interiors BLSYS – building service systems BLSHL – building shell FXEQP – fixed equipment SFTWR – software LAND – land VEHOD – owned & depreciated vehicles VEHON – owned & non-depreciable vehicles VEHFA – vehicles between $5 - $100K VEHLE – leased vehicles

An asset profile is a template that contains standard depreciation criteria for an asset type and its corresponding asset books.

MVEQUIPDPR – depreciable movable equipment MVEQUIPFA – moveable equipment for F & A VEHCLEASED – leased vehicle VEHCLOWDPR – vehicle owned & depreciable VEHCLOWNDP – vehicle owned & non-depreciable VEHICLEFA -- vehicle for F & A SOFTWARE – software FIXEDEQUIP – fixed equipment LAND - land BUILDINGS – general buildings BLDGSYSTEM -- building service systems BLDGINTERS -- building interiors BLDGSHELLS -- building shell

Asset Profiles

UVM Asset Books

University Book - UVM F&A Book - F&A

The F&A book is for moveable equipment between $5000 and $100,000, for the F&A rate calculation, with no depreciation recorded in the general ledger.

Federal Book - FEDERAL Alternative Minimum Tax Book - AMT

Typical AM Monthly Tasks Run AP/PO interface data into AM loader tables

Run Interface Loader Edit Program Run Transaction Loader Validate each asset’s cost Review the asset info and verify that each asset is

capitalized Run Depreciation Calculation Validate calculated depreciation Run Accounting Entry Creation Review the accounting entries created for each asset

Accounting Entries

Accounting entries come from two sources: 1. from financial transactions such as asset

additions, adjustments, or retirements

2. from depreciation close for a given accounting period

AM Month End Close Processes1. Calculate Depreciation – stored in table.

2. Create Accounting Entries.3. Create Monthly Depreciation Entry.4. Run the Load Net Book Value Table process.5. Run the Load Depreciation Reporting Table

process.6. Reconcile Asset Management Accounting Line

with Journal Entries.7. Close AM accounting period.8. Run the Journal Generator process for AM.

Changing Asset Information

Adding an Asset using Basic Add Copying an Asset Adjusting Asset Information Transferring Assets within Business Unit Retiring Financial/Non-Financial Assets Reinstating Assets

Adding an Asset

Using Basic Add

&

Copying an Asset

Activities

Activity 1

Adding an Asset Using Basic Add

Navigation: Asset Management > Asset Transactions > Owned Assets > Basic Add

Reference: Adding an Asset Using Basic Add Job Aid

Activity 2

Copying an Asset

Navigation: Asset Management > Asset Transactions > Owned Assets > Copy

Existing Asset

Reference: Copying an Asset Job Aid

Monthly

and

Month-End Processing

Activities

Activity 3Run AP/PO interface data into AM loader tables

(AMPS1000)

Navigation: Asset Mgmt > Send/Receive Info > Retrieve Info From AP/PO

Reference: Loading an Asset from Purchasing to Asset Management Job Aid

Run Interface Loader Edit Program (AMIFEDIT)

Navigation: Asset Mgmt > Send/Receive Information > Load Transactions > Edit

Transactions

Reference: Run Interface Loader Edit Job Aid

Activity 4

Activity 5

Run Transaction Loader (AMIF1000)

Navigation: Asset Mgmt > Send/Receive Info > Load Transactions > Load

Transactions into AM

Reference: Run Transaction Loader Job Aid

Activity 6

Validate Each Asset’s Cost

Navigation: Asset Mgmt > Asset Transactions > History > Review Cost

Reference: Review Asset Cost Job Aid

Activity 7

Review the Asset Info and Verify that each Asset is Capitalized

Navigation: Asset Mgmt > Asset Transactions > Owned Assets > Basic Add

Reference: Verify Asset has been Capitalized Job Aid

Activity 8

Run Depreciation Calculation (AM_DEPR_CALC)

Navigation: Asset Mgmt > Depreciation > Processing > Calculate

Reference: Processing Depreciation Calculation Job Aid

Activity 9Validate Calculated Depreciation

Navigation: Asset Mgmt > Depreciation > Review Depreciation Info > Asset Depreciation

Reference: Validate Calculated Depreciation Job Aid

Note: Summary level depreciation detail available via navigating to: Asset Mgmt > Financial Reports > Cost

and Depreciation Summary

Reference: View Cost and Depreciation Summary Job Aid

Activity 10

Run Accounting Entry Creation (AM_AMAEDIST)

Navigation: Asset Mgmt > Accounting Entries > Create Accounting Entries

Reference: Running Accounting Entry Creation Job Aid

Activity 11

Review the Accounting Entries Created for Each Asset

Navigation: Asset Mgmt > Accounting Entries > Review Financial Entries

Reference: Review Financial Entries Job Aid

Run Depreciation Close (AM_DPCLOSE).

Navigation: Asset Mgmt > Accounting Entries > Depreciation Close

Reference: Running Depreciation Close Job Aid

Activity 12

Run the Load Net Book Value Table process (AMLDNBVT).

Navigation: Asset Mgmt > Financial Reports > Load Reporting Tables > Net Book Value Table

Reference: Run Load Net Book Value Job Aid

Activity 13

Run the Load Depreciation Reporting Table process (AMDPREPT).

Navigation: Asset Mgmt > Financial Reports > Load Reporting Tables > Depr Reporting Table

Reference: Run Load Depr Reporting Table Job Aid

Activity 14

Modifying Asset Information

Adjusting Asset Information Transferring Assets within Business Unit Attaching Images Printing Asset Information Retiring Financial/Non-Financial Assets Reinstating Assets

Online Inquiry To view the depreciation schedule for an asset online, go to the

page Asset Management > Depreciation > Review Depreciation Info > Asset Depreciation

To view the accounting entries for an asset online, go to the page Asset Mgmt > Accounting Entries > Review Financial Entries.

To view the depreciation accounting entries for an asset online, go to the page Asset Management > Accounting Entries > Review Asset Journals.

To view net book value by chartfield, category, or account go to the page Asset Management > Financial Reports > Cost and Depreciation > Asset Net Book Value.

Run the query Asset Net Book Value to view accumulated depreciation, current period depreciation, and year-to-date depreciation.

Report ID and Report Name

Description Navigation

AMAS1100 Asset Categories

Lists Asset Categories (Crystal) Set Up Financials/Supply Chain > Product Related > Assets > Reports > Asset Categories

AMAS2000 Cost Activity

Sorts cost activity by ChartField, by Category, or by Account (SQR). Use the PeopleSoft Asset Management report formatting features to include/exclude data and append suffixes to identify report types.

Asset Management > Financial Reports > Cost and Depreciation > Cost Activity Report

AMAS2100 Asset Acquisitions by

ChartField

Lists asset information and also includes Cost, LTD and YTD Depreciation and Net Book Value with ChartField, Book and Report totals. (SQR)

Asset Management > Financial Reports > Asset Details > Asset Acquisitions

AMAS2110 Asset Acquisitions by In

Service Date

Lists asset information and also includes Cost, LTD and YTD Depreciation and Net Book Value with ChartField, In-service Period/Year, Book and Report totals. (SQR)

Asset Management > Financial Reports > Asset Details > Asset Acquisitions

AMAS2200 Assets by Location

Lists information on assets by location. (SQR) Asset Management > Financial Reports > Asset Details > By Location

AMAS2210Assets by Asset ID

Sorts assets by Asset ID. (SQR) Asset Management > Financial Reports > Asset Details > By Location

AMAS2300 Asset Transfers by

ChartField

Lists asset transfers transactions ordered by ChartField. (SQR)

Asset Management > Financial Reports > Cost and Depreciation > Asset Transfers

AMAS2400 Asset Reclassifications

Lists asset recategorizations ordered by ChartField. (SQR) Asset Management > Financial Reports > Cost and Depreciation > Asset Reclassifications

AMBU1000 Asset Management

Units/Books

Lists all valid business units and asset books. (SQR) Set Up Financials/Supply Chain > Business Unit Related > Reports > Asset Management Units/Books

AMDP2000 Depreciation Activity

Sorts cost activity by ChartField. (SQR), by Category, or by Account. Use the PeopleSoft Asset Management report formatting features to include/exclude data and append suffixes to identify report types.

Asset Management > Financial Reports > Cost and Depreciation > Depreciation Activity

Report ID and Report Name

Description Navigation

AMDP2200 Depreciation by Period

Sorts assets by period depreciation at asset, category, department, book, or project levels. (SQR) Use the PeopleSoft Asset Management report formatting features to include/exclude data and append suffixes to identify report types.

Asset Management > Financial Reports > Cost and Depreciation > Depreciation by Period

AMDP2300 Depreciation by Fiscal Year

Sorts assets by fiscal year deqpreciation at asset, category, project, department, or book levels. (SQR) Use the PeopleSoft Asset Management report formatting features to include/exclude data and append suffixes to identify report types.

Asset Management > Financial Reports > Cost and Depreciation > Depreciation by Fiscal Year

AMGL1000 Crystal - AM to GL Reconciliation by ChartField

Reconciles AM to GL by ChartField. (Crystal) Asset Management > Financial Reports > Cost and Depreciation > AM/GL and NBV Reports

AMGL1010 Crystal - AM to GL Reconciliation by Category

Reconciles AM to GL by category. (Crystal) Asset Management > Financial Reports > Cost and Depreciation > AM/GL and NBV Reports

AMNB1000 Crystal - Asset NBV by ChartField

Sorts net book value by ChartField. (Crystal) Asset Management > Financial Reports > Cost and Depreciation > AM/GL and NBV Reports

AMNB1010 Crystal - Asset NBV by Category

Lists net book value related amounts sorted by category. (Crystal)

Asset Management > Financial Reports > Cost and Depreciation > AM/GL and NBV Reports

AMAS2030 Account Activity Summary - Cost

Lists cost and related transaction amounts per account with ChartFields, book, and report totals. (SQR)

Asset Management > Financial Reports > Accounting Entries > Account Activity Summary

AMDP2030 Account Activity Summary - Depreciation

Lists depreciation and related transaction amounts per account with Chartfields, book, and report totals. (SQR)

Asset Management > Financial Reports > Accounting Entries > Account Activity Summary

Report ID and Report Name

Description Navigation

AMDP2130 Account Activity Summary - Net Book Value

Lists cost balance, YTD, LTD, depreciation and NBV amount per account. (SQR)

Asset Management > Financial Reports > Accounting Entries > Account Activity Summary

AMAE1000 List of Accounting Entry Templates

Lists all accounting entry templates by category. (Crystal) Set Up Financials/Supply Chain > Product Related > Asset Management > Reports > Accounting Entry Templates

AMAE2100 Accounting Entry Detail

Lists accounting entry details. (SQR) Asset Management > Financial Reports > Accounting Entries > Account Entry

AMAE2110Accounting Entry Detail - Cost

Lists cost and related transaction amounts per asset, with ChartFields, book, and report totals. (SQR)

Asset Management > Financial Reports > Accounting Entries > Account Activity Summary

AMAE2120 Accounting Entry Detail - Depreciation

Lists depreciation and related transaction amounts per asset, with ChartFields, book, and report totals. (SQR)

Asset Management > Financial Reports > Accounting Entries > Account Activity Summary

AMAE2130 Accounting Entry Detail - Net Book Value

Lists cost balance, YTD, and LTD depreciation and NBV amounts per asset. (SQR)

Asset Management > Financial Reports > Accounting Entries > Account Activity Summary

AMRT2000 Retirement by ChartField

Sorts retirement information by ChartField. (SQR) Asset Management > Financial Reports > Retirement > Retirement Information Report

AMRT2010 Retirement by In Service Date

Lists retirement information with totals per in service year/period. (SQR)

Asset Management > Financial Reports > Retirement > Retirement Information Report

AMRT2100 Retirement Activity

Lists retirement related information. (SQR) Asset Management > Financial Reports > Retirement > Retirement Activity Report

Asset Management Responsibilities Asset Management Setup –

maintaining the setup values as configured and work with Project CATalyst staff to alter the setup values as needed

Asset Management Processes – loading assets from other modules, running monthly processes to calculate depreciation and generate accounting entries, coordinate with people on campus running capital projects for capitalization purposes, etc.

Reconcile Asset Management with the General Ledger Update Assets –

maintain attribute information about assets, perform adjustments to assets, transfer assets between departments, retire or reinstate assets, etc.

Manually Add Assets – assets that do interface into Asset Management from other PeopleSoft feeder systems like Purchasing, such as equipment that is transferred in with incoming researchers and donated equipment from donors

Reporting and Inquiry Continually Improve the Asset Management System