Asset Management Core Users - Training Day 1

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  • (Read tagline.) Although this diagram looks somewhat intimidating, there are a couple of key points that should be made. First, the diagram highlights the complexity of the Implementation. Each of the lines in the diagram represents data flow in one direction or the other. The modules in the top box reflect the FS & MM Management Implementation. To give you a sense of the interconnectivity, which is the second goal of this diagram, we can take a look at a fairly simple transaction such as purchasing a laptop. This transaction will involve the eProcurement and Purchasing modules, it will involve the Accounts Payable module, it will hit the General Ledger several times, be tracked in Asset Management and if it is a purchase from a Research & Trust account, will also involve project costing, and reporting from eFIN via the data warehouse. Although this example highlights the interconnectivity, it should also give you a sense of the importance of data integrity. That is, if something is entered incorrectly in one place it is going to have an impact on other modules and other departments. There are a couple of other points that need to be made regarding the FS & MM Implementation. First, eProj and eFIN, are not PS modules. eFIN will be a re-release of FIN and will extract data directly from the new data warehouse. eProj, which is also not a PS module, will be released to a central group first, and to the academic community later in the year. Finally, please note the red dotted line around the modules in the top frame. Various modules feed data directly to the Data Warehouse. For simplicity however, the specific connections have been omitted from this diagram. Finally, to wrap up discussion of this diagram -- the box in the bottom left corner highlights the Human Resources Implementation and modules involved. Those are HR, Time & Labour, eBenefits, and Payroll. The box in the bottom right corner is a placeholder for the Student Admin Implementation, if it goes forward.
  • Asset Management Core Users - Training Day 1

    1. 1. Asset Management Training: Department Users
    2. 2. <ul><li>By the end of this training session, regarding Asset Management, you should. . . </li></ul><ul><ul><li>Understand the process changes </li></ul></ul><ul><ul><li>Understand the changes to your role & responsibilities </li></ul></ul><ul><ul><li>Know how to perform relevant PeopleSoft steps </li></ul></ul><ul><ul><li>Be aware of relevant policy changes </li></ul></ul>
    3. 3. Agenda Department User Responsibilities Policy Changes Frequency of Batch Jobs PeopleSoft Steps (UPK) Interfaces Q & A Reports Course Evaluation
    4. 4. <ul><li>Most Significant Policy & Procedure Changes </li></ul><ul><ul><li>The capitalization threshold has been raised to $5,000. Exceptions to this include art and books. </li></ul></ul><ul><ul><li>Desirable assets (i.e., computers & lab equipment) valued between $1,000 & $5,000 will be tagged but not capitalized. </li></ul></ul><ul><ul><li>The AM module will produce up to date depreciation calculations for inquiry and reporting. </li></ul></ul><ul><ul><li>Departments will be responsible for maintaining asset physical information and can run their own capital asset reports. </li></ul></ul><ul><ul><li>Proceeds on capital asset disposals will no longer be treated as revenue, but will be factored into the gain/loss calculation. </li></ul></ul>Asset Management
    5. 5. <ul><li>Additional Changes </li></ul><ul><ul><li>The useful life criteria for capital assets have been modified. This is configured by Profile ID in PeopleSoft. </li></ul></ul><ul><ul><li>‘ Following Month’ is the convention used for acquisition, depreciation, and disposal. </li></ul></ul>
    6. 6. <ul><ul><li>There will be an integrated asset recording and tracking system. </li></ul></ul><ul><ul><li>Users will have more access to asset data and reports. </li></ul></ul><ul><ul><li>There will be real-time reporting. </li></ul></ul><ul><ul><li>Departments can view all capital assets that they have funded, including construction related ones. </li></ul></ul><ul><ul><li>Depreciation for each asset will be posted monthly to the General Ledger. </li></ul></ul>Asset Mgmt. Enhancements
    7. 7. <ul><li>There are numerous changes to Roles & Responsibilities for AM Analysts and Department users. </li></ul><ul><li>Focus primarily on preventing errors rather than correcting them </li></ul><ul><li>Make use of enhanced functionality to track asset relationships, process single step asset transfers, control when work in process capital assets commence depreciation. </li></ul><ul><li>Will reconcile AM data with what’s in feeder systems. </li></ul>Analysts <ul><li>Will now maintain asset physical information </li></ul><ul><li>Can run their own reports </li></ul>Department Users Transition Reactive Proactive Transition Limited Data Data Access
    8. 8. There are many links between modules being implemented. The diagram below highlights the “Big Picture.” General Ledger Project Costing Human Resources Student Admin Systems eProj* eBenefits Asset Mgmt. eFIN* Phase 1 Phase 2 Phase 3 Live 08/01/05 Live 01/2006 Accounts Payable Data Warehouse <ul><ul><li>Fit-Gap Analysis in progress </li></ul></ul><ul><ul><li>Report Due end of June, 2005 </li></ul></ul>eProcure. & Purchasing Billing & AR Expenses *Note: eProj and eFIN are not PeopleSoft ® modules; eProj will not be released to the academic community until October 2005. Time & Labour Payroll Would replace Student Information Systems (SIS)
    9. 9. Asset details get into the Asset Management (AM) module once the asset has been received and asset cost information does once the voucher has been paid. Purchase Order Created Item & Invoice Received Voucher Paid Asset Management Module Asset Details Migrated to AM module Asset Cost Migrated to AM module Some capital assets, such as Gifts-in-Kind, have to be manually added by Asset Management Analysts. Interface Tables Job will be run weekly to move asset information to AM Module. Depreciation Calculation
    10. 10. Department User Responsibilities <ul><li>Enter physical information into PeopleSoft for all capital assets and desirable assets. </li></ul><ul><li>Put asset tags on items (except for Dell computers, which are received with tags on them). </li></ul><ul><li>Request asset disposal from Materials Management and inform the Asset Management (AM) Analysts of capital asset disposals. </li></ul><ul><li>Submit asset transfer requests to the AM Analysts, if applicable. </li></ul><ul><li>Inform AM Analysts if there are any financial changes associated with a capital asset. </li></ul>
    11. 11. Agenda Department User Responsibilities Policy Changes Frequency of Batch Jobs PeopleSoft Steps (UPK) Interfaces Q & A Reports Course Evaluation
    12. 12. Retirement Information Cost Activity Depreciation Activity Asset Transfers Asset Acquisition Asset List by Location Your UPK training shows you how to run reports in PeopleSoft Asset Management. There are other reports available (locations highlighted below). Although these reports are not necessarily required for the tasks you perform, you may find them useful. To find these reports go to Asset Management> Financial Reports >. . .
    13. 13. If you are running additional reports, it is important that you know when and how often batch jobs run. This will tell you the frequency of information update. <ul><li>Remember that asset information is not immediately migrated to the Asset Management module. </li></ul><ul><li>A weekly job moves information from the pre-AM tables to the AM module. </li></ul><ul><li>Depreciation Calculation begins once the data is in the AM module. </li></ul><ul><li>AM reports will show weekly depreciation and net book value, however depreciation only hits the GL once a month. </li></ul><ul><li>Depreciation is recorded only by fund and account in the GL and is not charged to departments. </li></ul>
    14. 14. Agenda Department User Responsibilities Policy Changes Frequency of Batch Jobs PeopleSoft Steps (UPK) Interfaces Q & A Reports Course Evaluation
    15. 15. <ul><li>Questions </li></ul>Q&A

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