Assets

Finance Business Solutions

Shaleen BatraFinance Business Solutions – User Support & Training

Agenda

• What is an Asset?

• Tagging of UNSW Asset

• Buying an Asset

• Create a PO for Asset

• Receipt an Asset PO

• Scenarios

• Additions and BUILTIN Assets

• Search an Asset

What is an Asset?

Capitalised Item(s) ≥ $5000

To be capitalised over 3yr/ 5yr /8yr /10yr

Computers, Other Plant, Office Equipment, AV, Motor Vehicle

All the components should be added together

Additional procedures to be followed when creating/receipting a PO

Should be tagged

What is an Asset?

Acquisitions to be added to UNSW Asset

register

Lab, Plant, Office & other Equip / AV

EQ_CAP10YR

(A/C 5630)

EQ_CAP5YR

(A/C 5630)

Artwork < $5,000

Artwork ≥ $5,000

Contact

AMU

Motor Vehicles

MOTOR

(A/C 5300)

Computers

COMP_CAP

(A/C 5200)

Computer Equipment ≥5k

Computers Mainframes Monitors Base Units Modems Multi-controllers

Desktop printers Plotters Barcode Readers Image Device Scanners Digitisers Sensitisers Interface Cards

COMP_CAP (A/C 5200) Capitalised over 3 years

Other Plant & Equipment ≥5k

Microscopes Generators Pumps Surgical Equip Lab Items Binoculars Gym Equip

Tractors Farm Machinery Mowers Maintenance Machinery Forklifts Trailers Motor Bikes

EQ_CAP10YR (A/C 5630)Capitalised over 10 years

Airplanes

Office Equipment & AV ≥5k

Photocopiers Fax Machine Air Conditioning Unit

(Portable) Fridge**

Projectors TV Video Camcorders Editing equip Studio equip

EQ_CAP5YR (A/C 5630)Capitalised over 5 years

Office Equipment Audio Visual Photography

Camera Lenses Floodlights Processing equip

**only for office use not for research purposes

Artwork*

Paintings Prints Ceramics Photographs

Artwork <$5,000Non - Capitalised

Artwork ≥ $5,000Capitalised

ART_NONC (A/C 5400) ARTWORK (A/C 5400)

*Contact AMU before raising a PO

Motor Vehicles ≥5k

Cars Motor Bikes Quad Bikes Vans

Motor Vehicles Capitalised

MOTOR (A/C 5300)

Importantnot

e Software – Not an asset. Expense A/C 5620 is used

Furniture – No longer regarded as an asset. Expense A/C 5600 is used

Associated cost should be included in the value of an asset e.g. freight, installation, tax & levy.

Under $5000 – Not an asset (except artwork)

Additional insurance cost, annual fee, training & maintenance should not be included in Asset

Only the cost of acquiring the asset should be added not the cost of maintenance

Software included in a package – It is an Asset

Classes of non-Assets

Non-Assets (<$5k) Category Account

Furniture GOODS 5600

Computer Equip GOODS 5210

Computer Equip – Printers GOODS 5212

Computer Equip – Server Storage GOODS 5213

Computer Equip - Other GOODS 5214

Other Equipment GOODS 5211

Software GOODS 5260

Equip not owned by UNSW GOODS 5638

Use “GOODS” as category for the above non – assets items and select the relevant

Expense Account

Asset TagsTags are issued in advance of the purchase of an asset

Issued by Asset Management Unit (AMU)

Issued to Business Units (Faculties, Schools & Divisions)

Issued to one designated staff in each area

Apply the tag in the front of the equipment

Physical scanning of the equipment done annually by AMU

Tags should be affixed to assets at the time of receipt

Contact designated staff in your dept to get a tag

Assets should ONLY be bought using a Purchase Order.

Purchase Orders for assets can be created via eProcurement or Purchasing.

should not be

ASSETS Purchased

Unless they are bought using a Purchase Order, there is no way of entering the

Asset Management information e.g. owner, tag no, serial no, asset location,

dept etc. Contact Asset Management Unit for more information.

Buying an Asset

Procurement Card

PR1 Form

Expense Claim

Buying an Asset -Prepayment

Payment in advance for goods or services

Create a PO – Standard process

Contact AP and provide details

Receipt when goods are physically received or commissioned*

Notify AP via email and write prepayment in the subject line

*Process by which equipment (installed or near completion) is tested to verify if it functions according to the requirement

Asset Purchasing Process

Is this asset

owned by UNSW?

*1

Code to relevant Expense accounts

*2

Y

N

Have all costs been identified?

Need to identify all

costs *3

N

Is the total cost

≥ $5k (excl GST)

Prepayment?

Code to relevant Expense accounts

*4

Submit PO for

approval

Contact AP

Check if the correct category code is used

Raise PO

Y

Examples:

*1 - Research Equipment, lab Equipment, computer equipment & etc

*2 - Consumable goods, Services related costs & etc

*3 - Inclusion of all parts/components costs of the asset, Freight cost, installation cost & etc

*4 - Furniture, equipment not owned by UNSW, equipment <$5k,& etc

Y

N

Y

N

Send PO to

supplier

Create a PO for Asset

Asset Category will default the Asset

Account.DO NOT CHANGE

Asset Category

Asset Account

Asset PO - Description

Description of the Asset

Asset PO - Comments

Description & Comments

• Description field is limited - only 30 characters will display to Assets Management. (incl. spaces, commas, etc)

• Ensure the name of the asset is entered in the description field first

• Attachments – scan and attach quotes, supporting documents, etc.

Asset PO - Category

ART_NONCARTWORK

COMP_CAP

EQ_CAP10YR

EQ_CAP5YR

MOTOR

Asset Category

When a Purchase Order for Asset is created, the buyer must select an Asset Category

This defaults the appropriate Asset expense account & VAT defaults

Purchase will only be receipted as an Asset if a proper Asset Category is selected

Most Important

Categories

When an Asset Purchase Order is raised,

buyer must select an Asset Category Code

Category & Account

Once the category is selected, account will be defaulted automatically. Please do not change it.

If the Asset category code is not selected then the item will not be considered as an Asset.

Asset Management Team will ask you to do a manual update

Description Category Account

Artwork <$5,000* ART_NONC 5400

Artwork ≥ $5,000* ARTWORK 5400

Computer Equip ≥ $5,000 COMP_CAP 5200

Other Plant and Equipment ≥ $5,000 EQ_CAP10YR 5630

Office Equipment ≥ $5,000 EQ_CAP5YR 5630

Motor Vehicles MOTOR 5300

* Before you raise a PO for Artwork please contact AMU

Asset PO - Distribution

Asset PO - Distribution

Asset Account Code has been defaulted according to the Asset Category. Please DO NOT change Account Code

Enter FUND, Program/Class & PROJECT and then click Asset Information Tab

AM Unit & Profile ID

Defaults from

Category Code

VCDIV – Vice Chancellor’s area, Internal Audit Academic

Ensure the correct AM Business Unit & Profile ID have defaulted at the Asset Information

tab

AM Unit & Profile ID

//

If you know the Employee ID of the Custodian you can enter it now otherwise this can be done at the time of

receipting

Asset Receipting Process

Has the asset been

physically received?

Has the asset been

installed and

commissioned*1?

No Action Required

Y

N

No Action required

N

Go to receipt

Menu to receipt

the PO *2

Y

Can you see

Pending link to enter Asset

details?

YEnter

Asset Tag & Serial no

in the system

Add Custodian, Dept and

Asset Location in the system

PO was not

raised correctly. Contact

AMU

N

Save Receipt

number in the system

Send a copy of invoice to AP

with PO no and receipt no for

payment

*1 Process by which equipment (installed or near

completion) is tested to verify if it functions

according to the requirement

*2 Asset PO cannot be receipted via Portal Menu

Was Prepayment

done?

Email AP with details and

write Prepayment in the subject line

N

Y

Receipting AssetsReceipt when goods are installed / commissioned*

Receipt once all items related to the asset have been received, assembled/configured, tested and are ready to use

Asset information

via Pending

Link

Tag Number Serial ID

Dept Owner Asset Location

More Details

via Pending

Link

Employee ID

23

4

1

Go to Pending link

*Process by which equipment (installed or near completion) is tested to verify if it functions according to the requirement

Asset Receipting

Asset Receipting

If “Pending” link is not displayed, then you did not correctly select

an Asset Category when the PO was raised

Note: Contact Asset Management Office and details need to be entered manually

Employee ID

Employee ID

Employee ID Asset Custodian

Tag Number & Serial ID

Tag Number Serial ID

Asset Information

Tag Number & Serial ID

Serial ID Serial Id of the item

Tag NumberSix digit number provided by

AMU for tagging Asset

Asset ID

Asset IDPLEASE DO NOT CHANGE.

Should always be NEXT

Please DO NOT Click this icon.

Leave blank

Dept OwnerDept Owner Department who owns the

asset

Location of the Asset

LocationShould be the location of the Asset. By default it is Ship to location from your profile. If this is not changed then it will be blank when asset details are transferred to AM system

Format of the location should be Building / Level / Room///

Scenario 1

Single Asset1 line PO

Qty 1

Chartfield 1Qty 1

Scenario 1: One Line PO – Single Asset and one chartfield

TAG1 SN1

Scenario 2 - PO

Chartfield 1Qty 0.7

Chartfield 2Qty 0.3

Scenario 2: One Line PO – Single Asset with split chartfield

Single Asset1 line PO

Qty 1

Scenario 2 - Receipt

Chartfield 1Qty 0.7

Chartfield 2Qty 0.3

Scenario 2: One Line PO – Single Asset with split chartfield

TAG1

TAG1

SN1

SN1

Single Asset1 line PO

Qty 1

Tag no and Serial ID should be same for both the distribution lines at the time

of receipting

Scenario 2 - Receipt

Scenario 3 - PO

Chartfield 1Qty 3

Scenario 3: One Line PO – Single Asset multiple quantity and same chartfield

Single Asset1 line PO

Qty 3

Scenario 3 - Receipt

Chartfield 1Qty3

TAG1

TAG2

SN1

SN2Single Asset

1 line POQty 3

When you go to create a receipt and click Pending link, you will see 3

lines. All 3 are separate Assets not part of one asset. Each distribution line

Should have a separate Tag no and Serial ID.

Scenario 3: One Line PO – Single Asset multiple quantity and same chartfield

TAG3 SN3

If you use the same serial ID, receipt will be saved in open status which is incorrect and Asset will have problems transferring to Asset

register. Amend the serial ID and save. Receipt status will be changed to “Fully Received”

If you use the same tag number, receipt will be saved in “Fully Received” status. However, this will create issues at the time of

physical scanning of the equipments.

Scenario 3 – Receipt

Should always be NEXT. DO NOT ChangeDifferent Tag No &

Different Serial ID

Scenario 4 - PO

Chartfield 1Qty 1

Scenario 4: One Line PO – Single Asset multiple quantity and multiple chartfield

Single Asset1 line PO

Qty 3

Chartfield 2Qty 2

Chartfield 3Qty 3

Scenario 4 - Receipt

TAG1

TAG2

SN1

SN2

When you go to create a receipt and click Pending link, you will see 3

lines. All 3 are separate Assets not part of one asset. Each distribution line

Should have a separate Tag no and Serial ID.

Scenario 4: One Line PO – Single Asset multiple quantity and multiple chartfield

TAG3 SN3

Chartfield 1Qty 1

Single Asset1 line PO

Qty 3

Chartfield 2Qty 2

Chartfield 3Qty 3

If you use the same tag number, receipt will be saved in “Fully Received” status. However, this will create issues at the time of

physical scanning of the equipments.

If you use the same serial ID, receipt will be saved in open status which is incorrect and Asset will have problems transferring to Asset

register. Amend the serial ID and save. Receipt status will be changed to “Fully Received”

Scenario 4 - Receipt

Should always be NEXT. DO NOT ChangeDifferent Tag No &

Different Serial ID

Scenario 5 - PO

Chartfield 1Qty 1

Scenario 5: Multiple Line PO – Asset with several components

Asset 1Component A

Qty 1

Asset 1Component B

Qty 1

Asset 1CoreQty 1

Chartfield 1Qty 1

Chartfield 1Qty 1

Asset Category should be used for all the lines including freight and installation

Scenario 5Scenario 5: Multiple Line PO – Asset with several components

Chartfield 1Qty 1

Asset 1Component A

Qty 1

Asset 1Component B

Qty 1

Asset 1CoreQty 1

Chartfield 1Qty 1

Chartfield 1Qty 1

TAG1

TAG1

SN1

Component A

TAG1 Component B

TAG number for all three lines should be same. You can write Serial ID of the Core component and Use Component A and

Component B for associated items

Scenario 5 - ReceiptScenario 5: Multiple Line PO – Asset with several components

Line 1

Line 2

Line 3

Additions – Existing Asset

Additions

Enhance Functionality of an

existing Asset

Add to the life of an existing

Asset

OR

Part of an existing Asset

Individual Asset

OR

Scenario: If you are buying a new microscope • Will that be used as a part of other Asset?• Will that be used as a part of more than one Asset?• Will that be used as an individual?

Scenario 6 - PO

Chartfield 1Qty 1

Scenario 6: Multiple Asset PO – Addition to an Existing Asset on UNSW Asset Register

Asset 2Qty 1

Asset 1Qty 1

Chartfield 1Qty 0.5

Chartfield 2Qty 0.5

Line 1 – Asset 1 – EEG Recording H/W – Individual Asset

Line 2 – Asset 2 – EEG Enhancement – BUILT IN to an existing Asset previously purchased

Scenario 6 – PO DistributionScenario 6: Multiple Asset PO – Addition to an Existing Asset on UNSW Asset Register

Line 2 – Asset 2 – EEG Enhancement – BUILT IN to an existing Asset previously purchased

Line 1 – Asset 1 – EEG Recording H/W – Individual Asset

Scenario 6 - Receipt

Scenario 6: Multiple Asset PO – Addition to an Existing Asset on UNSW Asset Register

Chartfield 1Qty 1

Asset 2Qty 1

TAG1 SN1

BUILTIN - A

Asset 1Qty 1

Chartfield 1Qty 0.5

Chartfield 2Qty 0.5

BUILTIN - A

TAG #Existing Asset

TAG #Existing Asset

Scenario 6 - Receipt Scenario 6: Multiple Line PO – Addition to an Existing Asset on UNSW Asset Register

Line 1 – Asset 1 – EEG Recording H/W

Tag number of the existing Asset

New Tag Number

Line 2 – Asset 2 – EEG Enhancement – BUILT IN to an existing Asset previously purchased

//

Search for Receipted Asset

Search either with the PO number

or

Receipt number

//

Search for Receipted Asset

//

Asset Information link can only be accessed for the selected line.

Troubleshooting

1. When I go to receipt the PO, there is no Pending link.

Asset Category Code was not selected at the time of

creating the PO. Contact AMU.

2. I receipted all the lines of the PO but the receipt is still in Open Status.

• Check if the Tag number and Serial ID is entered correctly• Make sure that the Asset ID is “NEXT”

3. I am buying an Artwork for my Dept. What should I do before raising a PO

Contact Asset Management Unit

Knowledgebase

Support & Guidance

• Buying NetworkExt. 53330, Email - Buyingnetwork@unsw.edu.auFind My Buying Network -http://www.fin.unsw.edu.au/OurServices/FinancialOperations_Purchasing_FindBuyingNetwork.html

• Accounts PayableAP Help - Ext. 53356, Email - aphelp@unsw.edu.auPayment of Invoices, Email- invoiceap@unsw.edu.au

• Finance Website – Purchasinghttp://www.fin.unsw.edu.au/OurServices/FinancialOperations_Purchasing.html

• Purchasing Guidelines & Procedureshttp://www.fin.unsw.edu.au/OurServices/FinancialOperations_Purchasing_Guidelines.htmlhttp://www.fin.unsw.edu.au/files/PP/Purchase_Order_Procedure.pdf

• Asset Management UnitFrancine Porto Gomes- Ext. 53865, Email – assets@unsw.edu.auhttp://www.fin.unsw.edu.au/OurServices/FinancialControl_AssetManagement.html

User Support & Training

• Finance Website – Traininghttps://www.fin.unsw.edu.au/NSF_KnowledgeBase/FKB_Training.html

• Training EnquiriesExt. 53550 / 57665, Email fti@unsw.edu.au

Questions