AASIS Support Center, Stacy Brown

AASIS Support Center, Stacy Brown6-2-03 Update

An AASIS Training Guide Course Code – Asset Under Construction

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Asset Under Construction (AUC)

Commitment Item 509:00:05Processes 8-9

Settlement



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Table of Contents

Title Description Page

Process 8 Project Settlement to the AUC 3-28

Process 9 AUC Settlement to the Asset 29-45

Year-end Information 46-50



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Process 8 – Actual CO Settlement for Fiscal Year End or Project End, whichever comes first

Fiscal Year End or Project End process is to be completed by the Agency Project Manager.

Project Management Roles:Agency Project AccountingAgency Accounting Management

Transaction CJ88

This process is required to provide the appropriate AUC value and capital outlay amount for financial reporting required by GASB 34.



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Process 8 – CJ88

1. Enter Project Definition.

2. Enter “12” Period for the month to be settled.

4. Leave Test Run Mode on, Click on Detail List.

5. Execute.

3. Enter “12” Posting

Period.



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Process 8 – CJ88

1. Click Details List



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Process 8 – CJ88

1. This gives an overview of the postings that will be created.

2. In the event the posting are correct, green check back 2 times.



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Process 8 – CJ88

1. Remove Test Run Check Mark and Click Detail List.

2. Execute.



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Process 8 – CJ88

1. Click Details List

2. View documents. 3. Green Check back to exit.



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Process 8 – Reports after CJ88

Different posting occur in different modules. CO, FI, SPL, and FM reports can be viewed to see the postings.

CO – CJI3FI – S_ALR_87012282SPL – Y_DEV_80000024FM – Y_DEV_80000043(replace with Y_Dev_80000046)Trial Balance Y_DEV_80000025

Asset Management –AW01N

Note: If documents were created incorrectly due to the CO Settlement, a reversal transaction can be processed. Master data corrections can be made and then the settlement reprocessed.



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Process 8 – CO Report CJI3

Note: Actual (Expense) Cost has a zero balance. The settlement process created a credit to the Non-Budget Relevant GL and a debit to the APC (Acquisition

Product Cost Account).



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Process 8 – FI REPORT S_ALR_87012282

Please note, no FI documents are created for the settlement process.



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Process 8 – SPL REPORT Y_DEV_80000024

ASC will have to request modifications to the “SETS” to incorporate the correct placement of settlement Cost Elements.



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Process 8 – FM REPORT Y_DEV_80000043 (replace with Y_DEV_80000046)

Note: The CO settlement process is a non-budget relevant process and does not change the amount of Expenses.



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Process 8 – Trial Balance Y_DEV_80000025

Note: Expense still in GL account from the MIGO transaction. The CO Settlement process created the NBR COSET GL entries. Each category has a zero balance. The AUC GL now has the value for the asset.



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Process 8 – Trial Balance Y_DEV_80000025

Note: Expense still in GL account from the MIGO transaction. The CO Settlement process created the Credit NBR COSET GL entries. Each category has a zero balance. The Debited AUC GL now has the value for the asset.



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Process 8 – AW01NNote: The CO settlement has produced a value for both depreciation areas for the AUC.



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Process 8 – AW01NNote: The CO settlement has produced a value for both depreciation areas for the AUC.



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Office of Accounting will perform (currently being processed by ASC) the monthly Processing Transactions.

Different postings occur in different modules. CO, FI, SPL, and FM reports can be viewed to see the postings.

CO – CJI3 and CO – KSB1

FI – S_ALR_87012282SPL – Y_DEV_80000024FM – Y_DEV_80000043 (replace with Y_DEV_80000046)Trial Balance Y_DEV_80000025

Asset Management –AW01N



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Monthly Processing Transactions – CO Report CJI3

No postings added to the WBS Elements. The CO posting will occur in the Cost Centers.



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Monthly Processing Transactions – CO Report KSB1

The CO posting occurs in the Cost Centers.



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Monthly Processing Transactions – FI – S_ALR_87012282

No FI posting occurs.



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Monthly Processing Transactions – SPL – Y_DEV_80000024

(ASC will request modification on this report.)

SPL Postings



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Monthly Processing Transactions – FM – Y_DEV_80000043 (replace with Y_DEV_80000046)

Expenses stay in original expense.



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Monthly Processing Transactions – Trial Balance – Y_DEV_80000025

1. A Debit to the Dep Exp/Cap Outlay and a Credit to the Inv GRF AUC (Mod) for the full amount settled for the Depreciation Area 01 (Modified) is created.

2. A Debit to the AUC (Full) and a Credit to the AUC Contra (Full) for the full amount settled for the Depreciation Area 20(Full) is created.

1

1

2



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Monthly Processing Transactions – Asset AW01N

Notice the depreciation expenses is recognized in Depreciation Area 01. This represents the Capital Outlay for the AUC’s cost.



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Monthly Processing Transactions – Asset AW01N

Notice the depreciation expenses is recognized in Depreciation Area 01. This represents the Capital Outlay for the AUC’s cost.



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When the AUC reaches final completion, the Agency Asset Manager must create the Asset (and any Sub-Asset) shells required to settle the AUC Asset Shell charges to the appropriate destination Asset Shells.

TransactionsAS01 andAS11

2. Enter and follow asset creation processes.

1. Enter the asset Class.



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Asset Manager must create Asset for AUC Settlement

Note Asset number to use in Sub-Asset creation.



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Process 9 – Actual AUC Settlement to the Asset for Project End

The AUC Settlement process to the appropriate Assets is to be completed by the Agency Asset Management Specialist.

Transaction AIAB

This process is required to allow the Asset to begin the depreciation and the capitalization process.



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Process 9 – Actual AUC Settlement to the Asset for Project EndTransaction AIAB

1. Enter Company Code.

2. Enter the AUC Number.

3. Enter.



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Same Process will be done on the Sub – Asset Number.



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1. Click Box next to line item.

2. Click Enter Rules.



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1. Enter Cat – FXA

2. Enter Settlement Receiver – Asset number

3. Enter % - 100


4. Green

Check Back.



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2. Post Settlement

1. Save.




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1. Enter AUC number.

3. Leave Test on and Detail list to verify posting.

2. Enter Asset Value and Posting Date – Last day of the period in which final CO Settlement.

4. Execute.




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Execute.



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1. Remove Test Run.


2. Execute.



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Detail List of the Settlement.




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Process 9 – Actual AUC Settlement to the Asset for Project End Asset Report AWO1N

New main asset with values.



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Sub Asset Value.



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AUC value has transferred to the Asset.



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AUC value has transferred to the Asset.



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Process 9 – Actual AUC Settlement to the Asset for Project End Various documents are created – Accounting Documents

AUC Credit

Asset Debit

AUC Credit

Asset Debit



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Process 9 – Actual AUC Settlement to the Asset for

Project End Various documents are created – Special Purpose Ledger



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Process 9 – Actual AUC Settlement to the Asset for Project End Various documents are created – Funds Management

Please note these are statistical postings.



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Fiscal Year End Information•All AUC Settlement must be completed by the close of business on June 30th.

• The WBS Elements can be used for the next fiscal year, but will require new settlement rules with new AUC numbers. (This is required due to the fact that the Capitalization Date defaults into the AUC Shell.)

•Transaction CJ02 can be used to change the project to add the new settlement rule.



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What IFS??•Buying Land – Asset purchase and should use Commitment Item 512:00:11.

•Commitment Item 509:00:05 - Buying Land and have Land Improvements

• Land should be an Asset purchase with its own Asset Number. Create a statistical WBS element for this purchases to include the cost in the total project. The purchasing document should be an “A” with the Asset number, cost center, and WBS element. Commitment Item 512:00:11 should be used.

•Land Improvements should be processed following the procedures presented in this material. A WBS Element, based upon funding source, with a settlement rule and a cost center must be on transactions. Purchases DO NOT reference the AUC number.



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What IFS??•Buying Building – Asset purchase and should use Commitment Item 512:00:11.

•Commitment Item 509:00:05 - Buying Building and have Building Improvements that will occur after occupancy.

• Building should be an Asset purchase with its own Asset Number. Create a statistical WBS element for this purchases to include the cost in the total project. The purchasing document should be an “A” with the Asset number, cost center, and WBS element. Commitment Item 512:00:11should be used.

•Building Improvements should be processed following the procedures presented in this material. A WBS Element, based upon funding source, with a settlement rule and a cost center must be on transactions. Purchases DO NOT reference the AUC number.



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What IFS??•Buying Building – Asset purchase and should use Commitment Item 512:00:11.

•Commitment Item 509:00:05 - Buying Building and have Building Improvement that will occur before occupancy.

•Building should be an Asset purchase using the main AUC number. Create a statistical WBS element for this purchases to include the cost in the total project. The purchasing document should be an “A” with the Main AUC number, cost center, and WBS element. Commitment Item 512:00:11 should be used.

•Building Improvements should be processed following the procedures presented in this material. A WBS Element, based upon funding source, with a settlement rule and a cost center must be on transactions. Purchases DO NOT reference the AUC number.



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Updated and Additional Information Coming Soon

ASC staff is working with the Office of Accounting and Budget to determine procedures for the Construction of an Asset with non-appropriated funds.

In addition, ASC staff is working to finalize procedures on Special Maintenance projects that are appropriated.

ASC staff anticipates these directions to be out by June 30, 2003.

AASIS Support Center, Stacy Brown

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