core-ct asset management...peoplesoft update manager (pum) is a lifecycle management process that is...
TRANSCRIPT
NPMA PRESENTATION
WHAT’S NEW IN ASSET MANAGEMENT
MAY 24, 2018
1
Core-CT Asset Management
Asset Madness! 2
Agenda 3
Introduction
Asset Management Progress
PeopleSoft Update Manager (PUM) Updates
Reminders
New Features
Asset Coding
Fiscal Year End
Current Issues/Work-arounds
Looking Ahead
Introductions
4
Core CT Introductions
David Bonola – AM Team Lead
Michael Carragher – AM Business Analyst
State Comptroller’s Office
Elizabeth Daly – Roles/Policy Questions
Agenda 5
Introduction
Asset Management Progress
PeopleSoft Update Manager (PUM) Updates
Reminders
New Features
Asset Coding
Fiscal Year End
Current Issues/Work-arounds
Looking Ahead
Asset Management Progress 6
Assets by the
Numbers
60 Business Units +500,000 Assets 35,ooo Locations
Asset Management Progress 7
0%
10%
20%
30%
40%
50%
60%
70%
80%
FY2005 FY2017
Physical Inventory
Percentage AssetsInventoried
Agenda 8
Introduction
Asset Management Progress
PeopleSoft Update Manager (PUM) Updates
Reminders
New Features
Asset Coding
Fiscal Year End
Current Issues/Work-arounds
Looking Ahead
Today’s Asset Management 9
8.4 8.9
9.1 9.2
No More Upgrades!
What is a PUM? 10
PeopleSoft Update Manager (PUM) is a lifecycle management process that is used with the PeopleSoft Update Manager PIA application, which runs on the PeopleSoft Image database.
There is one PeopleSoft Image per product family (database instance) and they will be released periodically.
Allows for a more efficient and timely schedule for fixing reported bugs as well as new product features.
What is a PUM? 11
PeopleSoft 9.2 will be the final release
All fixes and features will be delivered in PUM quarterly updates
Agenda 12
Introduction
Asset Management Progress
PeopleSoft Update Manager (PUM) Updates
Reminders
New Features
Asset Coding
Fiscal Year End
Current Issues/Work-arounds
Looking Ahead
Reminders 13
• Transaction Loader
• Reconciliation Reports
• Assets in Received Status
• ACORE Locations
• Chartfields
• Profile ID/Recats
Transaction Loader 14
• Core-CT closes the prior months books on the 11th of each month.
• All transactions for that month must be loaded
AM/AP Reconciliation 15
• Reconciliation report on the WorkCenter
AM/AP Reconciliation 16
• Only Reports Variances
AM/AP Reconciliation 17
• Creates PDF of all activity
AM/AP Reconciliation 18
Reconcile Received Assets 19
• Received/In Service Assets
• Asset Management > Search for an Asset
Even More Reminders! 20
• Locations
• Make sure to update ACORE locations
• Inactive Chartfields
• All Capitalized Assets (In-Service) associated with planned FYE Chartfield inactivation’s must be transferred (Intra-Unit) to valid/verified Chartfields. This transfer needs to take place prior to the inactivation of financial Chartfields. Transfer Inactive Chartfields before 07/01/2018
• Re-categorized Assets
• Verify profile ID is updated
Agenda 21
Introduction
Asset Management Progress
PeopleSoft Update Manager (PUM) Updates
Reminders
New Features
Asset Coding
Fiscal Year End
Current Issues/Work-arounds
Looking Ahead
Unified Transaction Loader 22
• No longer two separate
places to view pending
transactions.
• Added search
fields
Unified Transaction Loader 23
• Physical AND Financial lines are captured
Approve Transactions 24
New Feature: Approve Transactions
Approve Transactions 25
Approve Transactions 26
Approve Transactions 27
Disposal Worksheet 28
Now includes Non-financial Assets!
Agenda 29
Introduction
Asset Management Progress
PeopleSoft Update Manager (PUM) Updates
Reminders
New Features
Asset Coding
Fiscal Year End
Current Issues/Work-arounds
Looking Ahead
Bruno says Wakeup! 30
Asset Coding 31
• Account Expenditure Coding
• Asset Management > WorkCenter > Identify Assets in PO
Asset Coding 32
Expenditure Account Coding
53755 – Expensed Software(Expenditures/expenses for licensed and/or Internally Generated software with an acquisition cost of less than $5,000 per license)
54151 – Non-Controllable Assets (Expenditures/Expenses for items having an acquisition cost of less than $5,000. These assets are deemed Non-Agency Controlled and must NOT be recorded on inventory. Items charged to this account should not be capitlaized for GAAP reporting)
Asset Coding 33
Expenditure Account Coding
55725 – Capital – Capitalized Software (Expenditures/Expenses for licensed and/or Internally Generated software with an acquisition cost of $5,000 or greater). Items charged to this account should be capitalized for GAAP reporting purposes and must be recorded in Asset Management.
54150 – Controllable Assets (Expenditures/Expenses for
items having an acquisition cost of less than $5,000. These assets are deemed Agency Controlled and must be recorded on inventory. Items charged to this account should not be capitalized for GAAP reporting purposes)
Agenda 34
Introduction
Asset Management Progress
PeopleSoft Update Manager (PUM) Updates
Reminders
New Features
Asset Coding
Fiscal Year End
Current Issues/Work-arounds
Looking Ahead
Fiscal Year End 35
The Asset Management Fiscal Year 2018 Open Accounting Period will close on Wednesday, July 11, 2018.
Agencies must process all Fiscal Year 2018 Financial Adds, Adjustments, Retirements/Reinstatements, Re-categorizations, and Transfers on Tuesday, July 10, 2018 (Close of Business). After that date, these transaction types will be booked as Fiscal Year 2019 transactions.
Fiscal Year End 36
Fiscal Year End 37
Fiscal Year End 38
Asset Management Report AMAS2000 - Cost
Activity Detail Report - Select this report to assist with
the physical inventory reconciliation. The path for this
report is: Asset Management>Financial Reports>Cost
and Depreciation>Cost Activity. The final report cannot
be run until after July 11, 2018, after Asset Management
has closed.
Fiscal Year End 39
Asset Management Queries
CT_CORE_FIN_AM_COST_POS - Select this query to
calculate the positive cost of assets for a range of accounting
dates for the CO-59 report.
CT_CORE_FIN_AM_CO59_POS_DETAIL - Select this
query for detail information to support the above query.
CT_CORE_FIN_AM_COST_NEG - Select this query to
calculate the negative cost of assets for a range of
accounting dates for the CO-59.
CT_CORE_FIN_AM_CO59_NEG_DETAIL - Select this
query for detail information to support the above query.
Agenda 40
Introduction
Asset Management Progress
PeopleSoft Update Manager (PUM) Updates
Reminders
New Features
Asset Coding
Fiscal Year End
Current Issues/Work-arounds
Looking Ahead
Saving in Basic Add 41
Saving in Basic Add 42
Disposal Worksheet Filters 43
Next in List 44
Next in List 45
Agenda 46
Introduction
Asset Management Progress
PeopleSoft Update Manager (PUM) Updates
Reminders
New Features
Asset Coding
Fiscal Year End
Current Issues/Work-arounds
Looking Ahead
Looking Ahead 47
New Accounting Standard (GASB 87)
Currently GASB distinguishes between two types of leases: Capital leases and Operating leases. Operating leases treat assets and liabilities as off-balance sheet items (not recorded in Core-CT Asset Management)
The new Standard dramatically changes the way leases are handled for accounting purposes. The theory behind the change, is that Government "should recognize assets and liabilities arising from a lease” (record in Core-CT Asset Management)
• Effective Date December 2019
Looking Ahead 48
The Pre-GASB 87 approach to Leases required a subjective determination of whether a lease was classified as a “Capital” or “Operating” lease
•* Few Specific Exceptions
GASB now assumes all Leases will be Capital Leases
Looking Ahead 49
Evaluating Current Operating Leases
• Examples: • Buildings • Copiers • Mail Machines • Parking Lots
• Overall Impact Not Determined/Stay Tuned
Looking Ahead 50
PeopleSoft Fluid User Interface Expands
PeopleSoft
Mobility on any Device
New Online Desktop Experience
Native Tablet/Phone Experience
Simpler and More Intuitive
Device
Independent
Looking Ahead 51
Designed as a Significant Improvement over the PeopleSoft “Classic” User Interface
Classic Breadcrumb Navigation
Looking Ahead 52
End User can interact with Fluid pages using a mouse, keyboard, or touch interface
The need to remember extended navigation paths is removed
Looking Ahead 53
Fluid Disposal Requests
Fluid Transfer Requests
Fluid Approvals
Asset Labs 54
FYE18 Asset Management LAB
Asset Management Labs are being offered every Friday in the month of June. Please have staff sign up through your agency training registration contact. These are working labs without a presentation. Please bring any questions and issues with you.
Asset Labs 55
Session Recap
56
Questions