RSCCC BUSINESS
User Training Guide
        For
Asset Management




    ESC REGION 15
  DATA PROCESSING
   SAN ANGELO, TX
...
The Asset Management System was developed in compliance with GASB 34 Rulings to
provide users with a program to manage the...
Asset Management ~ File

Change File ID

The system defaults to the current file ID (C) when the Asset Management applicat...
Asset Management ~ Tables
Asset Management tables must be set up to provide the means for selecting options,
entering user...
•   Status Code - The Status Code Table tab allows you to enter user-defined
    status codes and descriptions for managin...
•   Property Class Code - The Property Class Code tab is used to assign a class to
    a group or type of asset that uses ...
Asset Management ~ Maintenance
There are two options for entering information into the Asset Management System:

    Manu...
2. Transaction Record Tab -




   Allows the user to create and maintain asset transactions by either manually
   adding ...
Transaction changes:
            • If an amount is incorrect, the transaction cannot be deleted. A new
                tra...
Each account code is a separate depreciation record. There should be a
      distribution record for each year that the de...
User can enter a new Book or change an existing Book. A Book record cannot
   be deleted. However, you can change the inve...
The 2nd Option for retrieving asset information is importing from finance:

Before retrieving records from Finance:
   1. ...
3. Make sure the ‘Use Asset Management Cross Reference Table’ field is selected
   on the Finance Options Table.




4. In...
5. Click Print to print the extract file report, then Click Yes to create the text file.




6. In Asset Management, go to...
•   Select the file that you created from Finance (FINFA_...) and Open.




•   The text file created from finance will ap...
7. The system will create a Transaction record and an Inventory record. You will
   automatically be on the first tab, Inv...
Asset Management ~ Depreciation
The following information is required in order to calculate depreciation for capitalized
i...
3. Depreciation Distribution Records:

   •   Year
   •   Description
   •   Account Code – minimum of ‘function’ and ‘yea...
Depreciation Calculations:

The Calculations tab is used to select inventory items and to calculate their depreciation
for...
4. In the To Month/Year field, type the ending date for the current fiscal year
   calculations in the MM-YYYY format. Thi...
Asset Management ~ Inquiry

The Asset Management Inquiry allows you to design the report selection options and
sorting cri...
Asset Management ~ End-of-Year Process
The following is a Check List from Help. You should print a new one each year to ma...
•   On the Sale/Disposal of Capital Asset window, enter the sale price for the
       item in the Sale Price field so that...
Which Reports Will I Need to Tie to?

1. Capital Outlay Report from finance – This should verify against all new
   items ...
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  1. 1. RSCCC BUSINESS User Training Guide For Asset Management ESC REGION 15 DATA PROCESSING SAN ANGELO, TX Page 1 of 24
  2. 2. The Asset Management System was developed in compliance with GASB 34 Rulings to provide users with a program to manage their capitalized and non-capitalized assets within the RSCCC Business system. The Asset Management System also provides users with the ability to track assets that were loaned to other deportments/users, monitor operational status, and dispose of assets at the end of their life cycle. The system provides reports and inquiries that are used to manage the capitalized assets and to provide users with inventory reports for auditors to use/review in annual audits of a district’s assets and asset management programs. Page 2 of 24
  3. 3. Asset Management ~ File Change File ID The system defaults to the current file ID (C) when the Asset Management application is opened. The Change File ID field allows you to change the system default file ID to any previous school year if available. To change file ID: 1. From the File menu, select Change File ID. The Change File ID window appears. 2. In the Change File ID field, click the school year to open. 3. Click Change to save the new File ID and close the window. 4. From the File menu, select Change File ID to open the window and verify the change was accepted. User Login List The User Login List window displays a listing of all users who are currently logged into the RSCCC System. Page 3 of 24
  4. 4. Asset Management ~ Tables Asset Management tables must be set up to provide the means for selecting options, entering user preferences, setting defaults, and matching codes with descriptions. 1. Asset Management Options - The Asset Management Options window allows user to select preferences for running the Asset Management System. 2. Code Tables – All Tables are User-Defined • Catalog - The Catalog tab is used to create the catalog table. The codes entered on the catalog table are used to break up large groups of like items (e.g., furniture, classroom furniture, desks) into smaller groups. This will speed up record entry and inventory management by placing the description from the catalog table into the record. Make this table as broad or detailed as you want. You may use any codes/descriptions that you want. Examples: 1100 – Furniture 1110 – Office Furniture 1120 – Desks 1400 – Maintenance Equip 1500 – Vehicles Page 4 of 24
  5. 5. • Status Code - The Status Code Table tab allows you to enter user-defined status codes and descriptions for managing assets in the system. This is also the code table that you will want to have a specific code set-up for deleting items in Utilities. Examples: A – Actively Used Item D – Disposed/Sold E – Entered in Error I – Inactive Item O – Out of Warranty R – Returned to Manufacturer S – Salvaged X – Deleted • Insurance Code - The Insurance Code tab is used to establish a listing of the insurance companies or policies that provide the liability, casualty, and operations insurance coverage for assets and equipment managed by the district. Examples: ALL – Allstate FAR – Farmers STF – State Farm • Gain Code - The Gain Code Table is used to record how each asset item was obtained (i.e., purchased, donated, and supplied by grant) and to define the value based on the method of acquisition. Examples: B – Bond Funds D – Donated G – Grant I – Inherited L – Leased P – Purchased • Condition Code - The Condition Code Table is used to describe the condition or plans for future uses of the item. This table is a good planning tool for budget purposes. Examples: G – Good M – Missing P – Pending Sale S – Serviceable U – Unserviceable Page 5 of 24
  6. 6. • Property Class Code - The Property Class Code tab is used to assign a class to a group or type of asset that uses the same Depreciation Method, Recovery Period, and Convention. This is a user-defined table, so you may enter any property class/description. There are only two Depreciation Methods available, Straight Line (SL) and No Depreciation (ND) (used for land or other assets that do not lose value). Only SL depreciation uses the two conventions available, Full Month (FM) and Half Year (HY). Examples: BLDG – Buildings EQUIP – Equipment FURN – Furniture VEH - Vehicles • Fiscal Year - The Fiscal Year table allows you to define the month and year ranges for each fiscal year for the school district. The first fiscal year entry should be defined for the earliest in service date for an asset. These entries are used by the program to calculate depreciation for all capital assets. Page 6 of 24
  7. 7. Asset Management ~ Maintenance There are two options for entering information into the Asset Management System:  Manually entering information through Maintenance>Inventory Maintenance window tabs.  Retrieving asset information from Finance through the Extract Asset Management Utility. To Enter Items Manually: 1. Inventory Records Tab - You will see all of your items listed in the top screen. To add a new item, right click “Add” in the top screen. • The item number will be entered if the Automatic Item Numbering field is selected in the options screen. • If the Use Catalog Descriptions field is checked in the options screen, the item description field will default to catalog description. You may want to add or change details to description so that you know exactly what the item is. • When improvements are made to a capital asset, a new item number and depreciation record should be created for the improvement. The Primary Inventory Number field (at the bottom right) allows you to relate the new item to the original item number. Page 7 of 24
  8. 8. 2. Transaction Record Tab - Allows the user to create and maintain asset transactions by either manually adding or editing an existing transaction record, or importing a transaction from Finance. There are three Transaction types: • O = Original • New transactions • Affects depreciation cost • The Book Record will default to depreciation cost, if this is a new amount. If a Book Record was already created, then change it to reflect the changes made to the Transaction Amounts. • M = Maintenance • Used when upgrading items (i.e., new lockers, painted hallways) that will not change the depreciation of the item. • C = Capitalized • Used when upgrading items (i.e., remodeling) or making changes to the original amount • Affects depreciation cost • Book record is not affected and must be manually changed Enter additional transactions when: • Existing transaction amounts change or are incorrect. • If amounts need to be entered multiple times for different account codes. • As additional purchases or improvements are made to an asset. Page 8 of 24
  9. 9. Transaction changes: • If an amount is incorrect, the transaction cannot be deleted. A new transaction should be created for the difference in the amount, either positive or negative. If you add a new transaction record using either an “O” or “C” type, the Inventory Record will automatically be changed. However, you will need to change the amount manually for the Book Record. • If you add a type “M”entry, the Inventory and Book amounts will not need to be changed. 3. Depreciation Distribution Records Tab - This screen is used for Capital items (C) only. It allows you to define how the depreciation should be distributed throughout the General Ledger. This screen allows the user to: • Enter a new distribution. • Change an existing distribution. • Delete an existing distribution. • Delete all depreciation distributions for an item. The only reason depreciation distribution records should be deleted completely is if the item is no longer classified as a Capital (C) item and needs to be changed to an Inventory (I) item. Required Account Code elements are function and fiscal year. The Chart of Accounts button to the right is available if you choose to have the entire account code entered. After all account codes are entered, they must equal 100%. Page 9 of 24
  10. 10. Each account code is a separate depreciation record. There should be a distribution record for each year that the depreciation is calculated. 4. Book Records Tab – This screen is also for Capital Asset types (C) only. It allows you to define how depreciation will be calculated for an item according to: • Property class • Depreciation method • Recovery period • Depreciation amount • Currently only one book type is used (GP - Generally Accepted Accounting Procedures) • Depreciation methods are:  SL - Straight Line  ND - No Depreciation • Depreciation conventions are:  FM - to figure depreciation after the first full month  HY - to figure depreciation after the first half year • Unallocated Funds field - flags assets that cannot be allocated to a specific budget code because the asset is used by many diverse groups. The system will not search for depreciation distribution account codes, and it will be reported in the unallocated depreciation line of the financial statements. Page 10 of 24
  11. 11. User can enter a new Book or change an existing Book. A Book record cannot be deleted. However, you can change the inventory type from (C) to (I) and recalculate the item to remove the depreciation information. 5. Manufacturer Information Tab – This screen allows the user to maintain information on the manufacturer, make, model, and warranty for an asset. This information is not mandatory for depreciation. It is useful for retrieving information for the manufacturer and tracking warranty expiration information. Page 11 of 24
  12. 12. The 2nd Option for retrieving asset information is importing from finance: Before retrieving records from Finance: 1. Run the Capital Outlay Report (FIN1200), from finance. This will help to identify the object codes that need to be set up in the next step. 2. Set-up the Asset Management Cross Reference table in Finance. By using the Capital Outlay Report, you can enter your Object Code information. Page 12 of 24
  13. 13. 3. Make sure the ‘Use Asset Management Cross Reference Table’ field is selected on the Finance Options Table. 4. In Finance, select Extract to Asset Management from the Utilities menu. You have the option of selecting only current period transactions, or processed transactions (which you would then select your accounting periods that you want in the Year 1 and Year 2 boxes). Page 13 of 24
  14. 14. 5. Click Print to print the extract file report, then Click Yes to create the text file. 6. In Asset Management, go to the Inventory Maintenance window, Transaction Records tab. The import only works on this tab. • Right-click and select ‘Import’ Page 14 of 24
  15. 15. • Select the file that you created from Finance (FINFA_...) and Open. • The text file created from finance will appear with your items listed. • The system imports only one item at a time. • Highlight the item you want to import, click OK. Page 15 of 24
  16. 16. 7. The system will create a Transaction record and an Inventory record. You will automatically be on the first tab, Inventory Records. 8. Complete the information on all tabs that apply for the item and SAVE  Remember: The system will import each line of the file as one record, so if your report has 10 computers for $50,000 (each at $5,000), then you will need to bring the first item with the $5,000 amount and enter four more items for the remaining of the $50,000. Page 16 of 24
  17. 17. Asset Management ~ Depreciation The following information is required in order to calculate depreciation for capitalized items: • Inventory records • Transaction records • Depreciation Distribution records • Book records Before you begin calculations: 1. Make sure that the required following information is completed. 2. Print BAM1100 - Auditor Analysis Report and make sure that no errors exist. 3. Print BAM1150 - Capital Assets/Inventory Report. 4. Print BAM1650 - Property Class Listing. 5. The auditors should have provided you with the following for your Book record: • Convention (FM/HY). • Recovery periods for Property Classes. • Which capital items are not disposable? 6. Make sure you have disposed of items for the year you are calculating. 7. Make sure you have removed any previous year's disposed items. To calculate Asset Depreciation, make sure the following REQUIRED fields are complete: 1. Inventory Records: • Inventory Type • Status • Gain Code • Number of Units • Unit Cost • Total Cost • Acquired Date • Disposal Date 2. Transaction Records: • Transaction Type • Transaction Amount Page 17 of 24
  18. 18. 3. Depreciation Distribution Records: • Year • Description • Account Code – minimum of ‘function’ and ‘year’ required • Percent - must total 100% 4. Book Records • Property Class • Deprec Method • Convention • Recovery Period • Date in Service – automatically defaults to Date Acquired, but can be overridden if necessary. Page 18 of 24
  19. 19. Depreciation Calculations: The Calculations tab is used to select inventory items and to calculate their depreciation for the selected periods. Users can: • Calculate depreciation for one month or multiple months within the current fiscal year (set on the Asset Management Options window) • Calculate only the current fiscal year depreciation or all years the asset was in service. • Run this depreciation calculation screen multiple times for any year of depreciation. To perform depreciation calculations: 1. From the Depreciation menu, select Depreciation Calculations. The Depreciation Calculations window is displayed with Calculations as the default tab. All available inventory numbers and their descriptions are displayed in the left side of the window. 2. The File ID field is display only and reflects the current file ID with which the user is signed on. 3. In the From Month/Year field, type the beginning date for the current fiscal year depreciation in the MM-YYYY format. Page 19 of 24
  20. 20. 4. In the To Month/Year field, type the ending date for the current fiscal year calculations in the MM-YYYY format. This date must be within a 12-month period from the beginning date. 5. Select the Recalculate all prior years of depreciation (which includes current fiscal year) field to recalculate the depreciation of the selected assets for all years in service. If not selected, then depreciation is calculated for the current fiscal year only. It is recommended that you copy your data to new file ID, then you can recalculate all years. 6. The system displays all available inventory numbers and their descriptions in the left side of the window. Select which current inventory numbers to move to the right side of the window for calculating depreciation. 7. Click Calculate to calculate the depreciation of all selected inventory numbers. The system displays a dialog box asking if you want to create a system backup. It is highly recommended that a backup be created. 8. Click Yes. The Export Asset Management Tables dialog box is displayed. If you select No, then the backup is NOT performed, and the depreciation calculations ARE automatically performed. 9. When the processing is completed, a Depreciation Calculation Item Summary Report is displayed. If there were any errors during processing, they are reported under the inventory item. • Review the entire report. • Click Print to print a copy of the report. You must literally read between the lines. Be sure that you have checked all messages. Some messages may be valid. Fix the items that are incorrect and recalculate. • Click Cancel to return to the Calculations tab without depreciating the selected assets. • If the report is correct, then click Process to depreciate the selected items. Page 20 of 24
  21. 21. Asset Management ~ Inquiry The Asset Management Inquiry allows you to design the report selection options and sorting criteria. The user can decide what fields, conditions, comparison data, and other options should be used to generate the report. This option allows you to select data based on fields not normally available for selection on other reports. To perform an asset management inquiry: 1. From the Inquiry menu, select Inventory Inquiry. The Asset Management Inquiry window is displayed. 2. The File ID field is display only and reflects the current file ID with which the user is signed on. 3. In the Column Name field, select a column title to be sorted (e.g., Account Code, Campus, Date Acquired). 4. In the Operator field, select the criteria used to sort the column name data (e.g., = Equals, > Greater Than, < Less Than, <> Doesn't Equal). 5. In the Value fields, select the data to be compared. 6. In the Sort Order field, select the order in which columns are sorted for the inquiry (e.g., Sale Price, Description, Campus, Date Acquired). 7. In the Ascending field, select if the inquiry data is to be sorted in ascending or descending order. 8. To continue adding sort parameters, right-click Add under Sort Order/Ascending. 9. Under Options: • In the Report Title field, type up to 20-characters that accurately define the contents of the report. • Select any desired Subtotal field options or leave blank to not create a subtotal on sort fields. • Select the Page Break on Major Sort Field option to set a page break after listing the assets of each major sort field (e.g., buses, department, room) or leave blank to ignore page breaks and print a continuous listing. 12. Click Retrieve to process the selected inquiry. The inquiry is displayed at the bottom of the window. Page 21 of 24
  22. 22. Asset Management ~ End-of-Year Process The following is a Check List from Help. You should print a new one each year to make sure all updated procedures are included in your process. Caution: Prior to initiating end-of-year procedures, perform an export of all records. DO NOT proceed until a valid export of all current year data exists. 1. Copy Current to New File ID thru the Utilities Menu – This allows you to maintain the integrity of last year’s depreciation as it was audited. 2. You will want to remove all unwanted records by changing the Status Code on the Inventory Records tab of the Inventory Maintenance screen. It is highly recommended that you print a report by Status Code for these prior to deleting these records. These might be records that are true errors and are not required in the Asset Management files, or records that were disposed in the previous depreciation year. Caution: If you have calculated depreciation for capitalized items, you must dispose of the item and remove it properly. Be sure that you run a report by status code for the codes you are removing. This is for your records. 2. Initialize Audit Tables thru the Fiscal Year Processing Utility - You have the option of initializing the Inventory Audit table, the Transaction Audit table, and/or the Book Audit table. After the auditors have completed their audit, it is recommended that you initialize all three files to remove the audit trail records from the files. 3. Roll the Depreciation Distribution records to the next year by running the Mass Update of Depreciation Distribution Records Utility. This will create a new distribution record for the records that are still depreciating and it will change the year in the district options record. You are now ready to start updating the new year. 5. Enter any new inventory items that were purchased during the new depreciation year. 4. Dispose of items that you sold or destroyed during the new depreciation year by: • On the Inventory Record tab of the Inventory Maintenance screen. • In the Last Date Inventoried field, enter the date the item was last inventoried. • In the Disposal Date field, enter the date the item was disposed of. This is mandatory for calculations. Page 22 of 24
  23. 23. • On the Sale/Disposal of Capital Asset window, enter the sale price for the item in the Sale Price field so that you can maintain additional information on the item's disposal. 6. After items have been disposed of and the new items added, then you are ready to calculate depreciation for the new fiscal year. Page 23 of 24
  24. 24. Which Reports Will I Need to Tie to? 1. Capital Outlay Report from finance – This should verify against all new items on the Auditors Analysis Report. 2. Auditors Analysis Report – Choose the option to list errors. Review the errors. Verify this report against the Property Class Listing. 3. Property Class Listing – Choose to sort by property class to verify against the Auditors Analysis Report. 4. Status Report – If you have items that you are removing/deleting. 5. Depreciation Calculation Report – Choose just the fiscal year you are depreciating (i.e. from 2004 to 2004). You will need to select the function sort. This should only list items that are currently depreciating. 6. Capital Assets/Inventory Listing – Choose the Capital Assets. This list is helpful if above reports are out of balance. /home/pptfactory/temp/20100430090840/change-file-id3105.doc Page 24 of 24

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