PeopleSoft Asset Management Answers to Key Questions Christy Todd ITS.
Advanced Asset Management: Issues and Answers...
Transcript of Advanced Asset Management: Issues and Answers...
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ADVANCED ASSET MANAGEMENT:
ISSUES AND ANSWERS
AM305W
Fall 2012
Workshop presentation
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Course Learning Objectives
Upon completion of this course, you should be able to:
– Understand how asset transactions post to
the General Ledger
– Understand how the Asset Contra account
affects the General Ledger
– Understand the use of ABZON
– Understand the use of ABUMN
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Upon completion of this course, you should be
able to:
– Use the new Transfer Variants Z4 and Z5
– Reverse an asset transaction
– Use ABGL and ABGF
– Identify which assets can be deleted vs.
those that must be blocked
Course Learning Objectives, cont.
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Lesson 1: GL Asset Postings
Lesson 2: ZGLA Asset Reports
Lesson 3: ABZON
Lesson 4: ABUMN
Lesson 5: Reversing Asset Documents
Lesson 6: Asset Credit Memo – Current Year Asset
Lesson 7: Asset Credit Memo – Prior Year Asset
Lesson 8: Block vs. Delete
Lesson 9: Reporting
Review and Summary. Approximate course time - 7 hours
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Course Map
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LESSON 1: GL ASSET POSTINGS
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Lesson 1 Learning Objectives
Upon completion of this lesson, you should be
able to:
– Understand Modified vs Full Accrual methods of
accounting for assets
– Understand how asset transactions post to the
General Ledger
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Unlike most Financial General Ledgers, to
meet all of the State’s external reporting
needs, SCEIS must provide asset information
on both the Modified and Full Accrual basis.
This requirement leads to a multi-step asset
posting process.
GL Asset Postings
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Modified accrual accounting recognizes
revenues when they become available and
measurable, and recognizes expenditures in
the period in which the liabilities are incurred.
This means that assets are expensed in the
year of purchase.
Modified Accrual Accounting
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Full accrual accounting measures the
performance and position of an entity by
matching revenues to the expenditures.
Assets with a useful life of greater than one
year contribute to the creation of revenues
throughout their useful lives and, therefore, are
depreciated (or expensed) over their useful
lives.
Full Accrual Accounting
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GL Asset Postings
No Postings
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Procurement of an asset creates the Modified
Accrual asset posting. This posting could
occur via an ABZON or a PO related invoice.
Debit 1801XXXXXX
Credit Offset Account
Modified Accrual Posting
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Modified Accrual Posting
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Modified Accrual Posting
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Modified Accrual Posting
Asset
posted via
ABZON
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Modified Accrual Posting
Modified Accrual
Posting
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ASKBN is a transaction run periodically by the
Comptroller General’s Office that creates the
Full Accrual asset.
Debit 1802XXXXXX
Credit 1802XXXX10
Full Accrual Posting
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Full Accrual Posting
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Full Accrual Posting
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AFAB is the depreciation transaction that is
run by the Comptroller General’s Office that
creates the depreciation postings for both
Modified Accrual and Full Accrual.
Depreciation Posting
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Modified Accrual Depreciation
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Full Accrual Depreciation
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Depreciation Postings
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GL Asset Postings
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At the time of processing the ABAVN transaction, an entry is created that records the retirement of the Modified Accrual asset with an offset to Fund Balance.
Asset Retirement
ABAVN - Asset Scrapping
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Modified Accrual Retirement
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Modified Accrual Retirement
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The retirement of Full Accrual asset occurs
when ASKBN is processed. The transaction
varies depending upon the Book Value being
retired.
If the asset has a Book Value remaining, there
will be a loss recorded on retirement.
Asset Retirement
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Full Accrual Retirement
Fully Depreciated Asset
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Full Accrual Retirement
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Full Accrual Retirement
Partially Depreciated Asset
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Lesson 1 Summary
You should now be able to:
– Understand Modified vs Full accrual methods of
accounting for assets
– Understand how asset transactions post to
the General Ledger
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LESSON 2: ZGLA ASSET REPORTS
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Lesson 2 Learning Objectives
Upon completion of this lesson, you should be
able to:
– Understand how the Asset Contra account
affects the General Ledger
– Run a ZGLA report using Modified or Full Accrual
Variants
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Negative Total Assets
ZGLA Asset Reports
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If SCEIS were a Modified Accrual System, the total
value of all asset GLs would be the total acquisition
value of all remaining assets.
If SCEIS were a Full Accrual System, the total value of
all asset GLs would be the total acquisition value of all
remaining assets less the accumulated depreciation.
Because SCEIS must accommodate both Full and
Modified Accrual, it is not uncommon or wrong that the
total value of all asset GLs be negative. In time, the total
value of asset GLs for all agencies will be negative.
Negative Total Assets
ZGLA Asset Reports
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In SCEIS an asset must be created twice in the General
Ledger, once as Modified Accrual as once as Full
Accrual. As would be normal accounting, the Modified
Accrual asset is created at the time of payment.
To accomplish the Full Accrual posting, the debit to the
Full Accrual asset (1802000000) must be offset by a
credit. In SCEIS that credit is to an Asset Contra
account (1802XXXX10).
Negative Total Assets
ZGLA Asset Reports
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The Asset Contra account is a memo account whose
only purpose is to serve as the offset to the Full Accrual
asset posting.
There are no other entries that post to the Asset Contra
account.
As new assets are procured, the Asset Contra’s
negative balance grows. It is never reduced.
If all assets (Modified and Full) were retired, the only
balance in the asset section of the General Ledger
would be the credit balance in the Asset Contra account.
ZGLA Asset Reports
Negative Total Assets
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Click on Get Variant
ZGLA Asset Reports
Variants
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Select Modified or
Full Accrual
Change report parameters and execute the report.
ZGLA Asset Reports
Variants
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ZGLA Asset Reports
Modified Accrual Variant
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The Modified Accrual variant will have a total balance
equal to the value of the assets procured in that fiscal
year. This is true because the cash balance that was
credited to buy the asset cannot be pulled into the
report.
Another factor that may affect the total balance is
AUCs.
ZGLA Asset Reports
Modified Accrual Variant
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Totals for Full Accrual
should be $0.00
ZGLA Asset Reports
Full Accrual Variant
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Lesson 2 Summary
You should now be able to:
– Understand how the Asset Contra account
affects the General Ledger
– Run a ZGLA report using Modified or Full Accrual
Variants
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LESSON 3: ABZON
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Lesson 3 Learning Objectives
Upon completion of this lesson, you should be
able to:
– Understand the use of ABZON for posting
asset values with and without budget impact
– Understand how to avoid common errors
using ABZON
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There are two ways to record an asset in
SCEIS:
1. Procurement via a Purchase Order
2. ABZON
External Asset Acquisition
T-Code ABZON
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T-Code ABZON is generally used to accomplish
one of three tasks:
– To transfer costs expended from a Non-Asset GL in
the current year to an Asset GL and populate an
asset shell with the value.
– To record a donated asset.
– To record a found asset or asset that was purchased
in a prior year that was not originally created as an
asset.
External Asset Acquisition
T-Code ABZON
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ABZON Initial Screen
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ABZON Additional Details Tab
Determines GL to
Credit
Determines Budget
Impact
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ABZON - Transfer of Costs
Additional Details Tab
Enter the GL to be
credited, the Asset
Shell will drive the
Debit
No entry required,
there will be a budget
impact
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ABZON - Transfer of Costs
Posted Document
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ABZON - Transfer of Costs
Posted Document
Budgetary Impact transfer of costs
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ABZON Record Donated Asset
Additional Details Tab
Non-Cash Asset Donations GL
Use 4310081000 if 10020000
ZDO - will not impact budget
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ABZON Record Donated Asset
Posted Document
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ABZON Record Donated Asset
Posted Document
No 5* Commitment Item
Therefore no budget
impact
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ABZON Record Found Asset
Additional Details Tab
Revenue Offset Account
No Budget Check
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ABZON Record Found Asset
Posted Document
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ABZON Record Found Asset
Posted Document
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ABZON documents do not post in STARS.
A transfer of costs from one Expenditure GL to
another has no net impact to 512001; therefore,
STARS and SCEIS stay in balance.
Neither a Donated Asset nor a Found Asset has
a budget impact in SCEIS and therefore STARS
and SCEIS stay in balance.
ABZON Reconciliation Error
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Common ABZON errors:
The user does not enter an Offsetting GL that
is an Expenditure GL when processing a cost
transfer.
The user does not enter ZDO or the Offsetting
Revenue account when processing a Donated
Asset or a Found Asset.
The user enters an Offsetting GL for an
expense that was paid in a prior year.
The user is trying to add a found or donated
asset that contains a grant.
ABZON Reconciliation Errors
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ABZON Reconciliation Error
No Offsetting GL
With no offsetting GL, the
Default is to an Asset Contra
GL, creating a one sided
budget entry and therefore a
recon item with STARS, more
importantly.
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ABZON Reconciliation Error
No ZDO on Donated or Found
Without ZDO the 1801 GL derives an
Expenditure GL, creating a one sided entry
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Lesson 3 Summary
You should now be able to:
– Understand the use of ABZON for posting
asset values with and without budget impact
– Understand how to avoid common errors
using ABZON
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LESSON 4: ABUMN
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66
Lesson 4 Learning Objectives
Upon completion of this lesson, you should be
able to:
– Understand the use of ABUMN and SCEIS
standard functionality
– Understand Cash and Budget postings related to
ABUMN
– Use the new Transfer Variants Z4 and Z5
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T-Code ABUMN is generally used to
accomplish one of three tasks:
– To move assets from one agency to another
– To change the asset class of an asset
– To change the cost information on the Time
Dependent Tab
Asset Transfer within Company Code
T-Code ABUMN
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Transfer of Current Year Asset – assumption is
that there should be a cash and expenditure
impact.
Transfer of Prior Year Asset – assumption is
that there should not be a cash and
expenditure impact.
SCEIS Functionality
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If an asset is transferred in the month of
acquisition, there WILL be a cash AND budget
impact.
If an asset is transferred in a subsequent month
but in the current year, there WILL be a budgetary
impact but NOT a cash impact.
If an asset is transferred in a subsequent year,
there WILL NOT be a cash or budgetary impact.
SCEIS Functionality
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If a current year asset is transferred in the
month of acquisition, the system will balance
the asset entry against Cash.
Dr Asset
Cr Cash
SCEIS Functionality
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Transfer of Current Year Asset
in Month of Acquisition
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Transfer of Current Year Asset
in Month of Acquisition
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If a current year asset is transferred
subsequent to the month of acquisition, the
system will balance the asset entry against
Fund Balance with no Cash impact.
Dr Asset
Cr Fund Balance
SCEIS Functionality
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Transfer of Current Year Asset
After Month of Acquisition
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Transfer of Current Year Asset
After Month of Acquisition
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Transfer of a Prior Year Asset
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Transfer of a Prior Year Asset
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Transfer of prior year assets that should have
a cash and expenditure impact. (Generally
related to a grant)
Transfer of current year assets when the
intent is not to have a cash or expenditure
impact.
Recent SCEIS Enhancements
to ABUMN
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Transfer of prior year assets that should have a
cash and expenditure impact. (Generally related
to a grant)
Z4 - Transfer Variant Z4 will transfer a prior
year asset with a budget/cash impact.
Recent SCEIS Enhancements
to ABUMN
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Recent SCEIS Enhancements
to ABUMN
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Recent SCEIS Enhancements
to ABUMN
Select Transfer
Variant Z4
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Transfer of current year assets when the intent is
not to have a cash or expenditure impact.
Z5 - Transfer Variant Z5 will transfer a current
year asset without a budget impact. The cash
impact will depend upon the month of
acquisition and month of transfer.
Recent SCEIS Enhancements
to ABUMN
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Recent SCEIS Enhancements
to ABUMN
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84
Lesson 4 Summary
You should now be able to:
– Understand the use of ABUMN and SCEIS
standard functionality
– Understand Cash and Budget postings related to
ABUMN
– Use the new Transfer Variants Z4 and Z5
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LESSON 5: REVERSING ASSET
DOCUMENTS
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Lesson 5 Learning Objectives
Upon completion of this lesson, you should be
able to:
– Reverse an asset transaction
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Note: You can only reverse
an asset document in the
current year.
AB08 – Reverse an Asset Document
1. Enter Asset Number and
hit Enter
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2. Select the line that you would like to reverse
3. Hit the reverse button
AB08 – Reverse an Asset Document
2
3
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4. Enter the date that you are
performing the transaction as
the posting date along with
the corresponding period.
AB08 – Reverse an Asset Document
5. Select the reversal reason
01 for the current period / month or
02 for a closed period / prior month.
6. Then Green Check
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You should then see this screen. If the information
looks correct, then hit Save.
You will receive a document number and the previous
transactions will be reversed.
AB08 – Reverse an Asset Document
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Lesson 5 Summary
You should now be able to:
– Reverse an asset transaction
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LESSON 6: ASSET CREDIT MEMO
- CURRENT YEAR ASSET
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Lesson 6 Learning Objectives
Upon completion of this lesson, you should be
able to:
– Understand when and how to use T-Code ABGL
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T-Code ABGL is generally used to record a
reduction in the value of an asset when:
The vendor reduces the cost of the asset and
returns funds.
When an asset is mistakenly established. The
advantage of using ABGL is that there is no
gain or loss on disposal.
Asset Credit Memo
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All information except asset number should default.
Enter Asset Number
Make sure Document Date and Posting Date
Credit Memo in Current Year - ABGL
are the same
and are the
date you are
performing the
transaction.
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1. Enter the amount to be removed from the asset
2. Enter asset value date. This should be the date you are doing the transaction.
3. Enter offsetting account number. This should be the account you want the money to go back to, like supplies.
4. Enter a text as to why you are performing this transaction.
5. Then save it.
Credit Memo in Current Year - ABGL
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Current Year Asset
Credit Memo in Current Year
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Enter Asset
Number
Credit Memo in Current Year
ABGL – Initial Screen
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Credit Memo in Current Year
Enter Offset
Account
ABGL – Second Screen
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Credit Memo in Current Year
GL Posting
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Credit Memo in Current Year
Asset Value Changed
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102
Lesson 6 Summary
You should now be able to:
– Understand when and how to use T-Code ABGL
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LESSON 7: ASSET CREDIT MEMO
- PRIOR YEAR ASSET
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Lesson 7 Learning Objectives
Upon completion of this lesson, you should be
able to:
– Understand when and how to use T-Code ABGF
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T-Code ABGF is used to record a reduction in
value of a prior year asset after the close of
the previous fiscal year.
Examples:
STO cancels a check disbursed to procure an
asset.
Vendor returns a portion of the purchase price.
Credit Memo in Prior Year
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All information except asset number should default.
Enter Asset Number
Make sure Document Date and Posting Date
Credit Memo in Current Year
are the same
and are the
date you are
performing the
transaction.
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1. Enter the amount to be removed from the asset
2. Enter asset value date. This should be the date you are doing the transaction.
3. Enter offsetting account number. This should be the account you want the money to go back to, like supplies.
4. Enter a text as to why you are performing this transaction.
5. Then save it.
Credit Memo Year after Invoice
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Credit Memo Year after Invoice
Asset Value
Prior Year Asset
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Credit Memo Year after Invoice
ABGF Initial Screen
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Credit Memo Year after Invoice
ABGF Second Screen
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Credit Memo Year after Invoice
GL Posting
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Asset Value
Changed
Credit Memo Year after Invoice
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Lesson 7 Summary
You should now be able to:
– Understand when and how to use T-Code ABGF
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LESSON 8: BLOCK VS. DELETE
ASSET SHELL
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Lesson 8 Learning Objectives
Upon completion of this lesson, you should be
able to:
– Identify when an asset can be deleted or must
be blocked
– Delete an asset
– Block an asset
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To determine if an asset shell can be
deleted or blocked, one has to determine
the following:
Does the asset shell have a
capitalization date? Or has it ever had a
capitalization date?
Has the asset shell been attached to a
Purchase Order?
Block vs. Delete an Asset Shell
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If the answer to either question is yes, the
asset shell must be blocked.
An asset shell can be deleted when
there is no capitalization date and it has
not been attached to a Purchase Order.
Block vs. Delete an Asset Shell
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Check for
Capitalization Date
No Capitalization
Date on this asset.
Block vs. Delete an Asset Shell
AS03
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Check for
Capitalization Date
This asset has a
Capitalization Date.
Block vs. Delete an Asset Shell
AS03
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To determine if
asset has been
posted to PO, click
Environment, select
Purchase Orders
from the dropdown
box.
Block vs. Delete an Asset Shell
AS03
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Message: No
suitable purchasing
documents found.
This asset has not
been assigned to a
PO.
Block vs. Delete an Asset Shell
AS03
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If the asset has
been assigned to a
PO, the PO number
will appear here.
Block vs. Delete an Asset Shell
AS03
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If asset has a
Capitalization Date
or has been posted
on a PO, it can only
be Blocked. Click
“Locked to acquis”
to block and Save.
Block vs. Delete an Asset Shell
AS05
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If there is no cap
date and no
purchase order, then
you may delete the
asset: click
“Physically delete
asset” and Save.
Block vs. Delete an Asset Shell
AS06
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Enter the
Transaction Code
as shown at right.
Click on the icon
to choose Asset/Block
as shown at right.
The variant created excludes all assets blocked.
Running S-ALR_87012056 Excluding
Blocked Assets
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Next, you will exclude assets that are in 13000 and 13001
asset class. This range is for assets under construction.
Running S-ALR_87012056 Excluding
Blocked Assets
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Running S-ALR_87012056 Excluding
Blocked Assets
Use the all selection icon to filter down further for your
agency, then click the to execute the report.
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Results:
Running S-ALR_87012056 Excluding
Blocked Assets
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129
Lesson 8 Summary
You should now be able to:
– Identify when an asset can be deleted or
must be blocked
– Delete an asset
– Block an asset
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LESSON 9: REPORTING
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Lesson 9 Learning Objectives
Upon completion of this lesson, you should be
able to:
– Run the Asset History Report
– Run the Asset Acquisitions Report
– Run the Asset Retirements Report
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This report will detail all Asset
history for Company Code
SC01 using Depreciation area
01 – Modified Accrual.
NOTE: This is for course
demonstration purposes.
Running historical reports
using broad criteria in
Production would be
impractical. Also, agencies will
only be able to view Assets
within their respective
Business Areas.
Asset History Sheet –
S_ALR_87011990
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The Asset History shows all Asset activity
within the Modified Accrual Depreciation
area.
Use the scroll bar to view more of
the Asset History Sheet.
Asset History Sheet –
S_ALR_87011990
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Asset History Sheet –
S_ALR_87011990
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135
(1)Use Company code SC01
(2)Enter Selections criteria, if
necessary
(3)Settings criteria is set to
Sort Variant 0003 for
Company Code, Balance
Sheet Account, and Asset
Class
(4)A list of all applicable
Assets will be generated
from the List Assets
selection
(5)Click the Execute
icon to run the report
Asset Acquisitions Report –
S_ALR_87012050
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Acquisitions Report displays
results according to Company
Code, Balance Sheet, and
Asset Class
It is possible to double-click
(drill-down) on either the
Asset or the Document
Number to see specific
details, if necessary.
Asset Acquisitions Report –
S_ALR_87012050 cont.
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137
Asset Retirements Report –
S_ALR_87012052
(1)Use Company code SC01
(2)Enter Selections criteria, if
necessary
(3)Settings criteria is set to
Sort Variant 0003 for
Company Code, Balance
Sheet Account, and Asset
Class
(4)A list of all applicable
Assets will be generated
from the List Assets
selection
(5)Click the Execute
icon to run the report
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138
Asset Retirements Report –
S_ALR_87012052
Retirements Report displays
results according to Company
Code, Balance Sheet, and
Asset Class
It is possible to double-click
(drill-down) on either the
Asset or the Document
Number to see specific
details, if necessary
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139
Lesson 9
Summary
You should now be able to:
– Run the Asset History Report
– Run the Asset Acquisitions Report
– Run the Asset Retirements Report
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140
Course Summary
You should now be able to:
– Understand how asset transactions post to
the General Ledger
– Understand how the Asset Contra account
affects the General Ledger
– Understand the use of ABZON
– Understand the use of ABUMN
(continued …)
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You should now be able to:
– Use the new Transfer Variants Z4 and Z5
– Reverse an asset transaction
– Use ABGL and ABGF
– Identify which assets can be deleted vs.
those that must be blocked
Course Summary, cont.
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Evaluation
142
Please complete the online course
evaluation in Blackboard.
Your input will help to shape future
enhancements to the
SCEIS End User Training Program
Go to the SCEIS website
http://www.sceis.sc.gov click on Training
and then click Blackboard