welcome monthly accounting meeting (mam) october 19, 2006

WELCOME WELCOME

Monthly Accounting Meeting(MAM)

October 19, 2006

Riverside County Riverside County

Proud Recipient of the

2005 GFOA Award

Certificate of Achievement

Excellence in Financial Reporting

Opening RemarksOpening Remarks

Michael Alexander

Division ChiefInternal Audits Division

IntroductionsIntroductionsAnnouncementsAnnouncements

Vi JacksonPrincipal Accountant

General Accounting Division

Association ofAssociation of Government Accountants Government Accountants

Inland Empire California ChapterInland Empire California Chapter

Linda Kjeldgaard, PresidentCarla O’Ferrall, President Elect

Jessica Hurst, TreasurerNancy Clarke, CGFM Coordinator

Facilities ManagementFacilities ManagementProject Accounting Project Accounting

Alma Avila

Supervising Accountant FM - Accounting

Meet the GAD Operation Team Meet the GAD Operation Team

Robert Valenson

Operation Section Supervisor

General Accounting Division

Operation Section FunctionsOperation Section Functions

Vendor Code SectionVoucher Audit Team SectionReplacement Warrant SectionA/P Distributions and Reconciliations

Processing Section

Operation SectionOperation Section

Questions?

Additional Guidelines forAdditional Guidelines forNon-Cap Assets Non-Cap Assets

Michael Alexander

Division Chief ACO - Internal Audits Division

When should walk-away and other non-capitalized assets be entered into the Asset Management Module?

As soon as possibleDecember 31, 2006 for small departmentsBy March 31, 2007 for large departmentA different timeline will be developed for

large departments using Remedy or other similar software for tracking equipment

Should asset tags be used for walk-away and other non-capitalized assets which are entered into the Asset Management Module?

YesDepartments are responsible for deciding

the numbering convention for their tags and for purchasing these tags

What fields are required when entering walk-away and other non-capitalized assets into the Asset Management Module?

General InformationCustodianSerial numberAcquisition DateNon-caps

What will be required to retire walk-away and other non-capitalized assets from the Asset Management Module?

Department Head approval of a form AM-7 maintained at the department. (Do not send to the Auditor-Controller)

Email correspondence to the Auditor-Controller, Asset Management Section, with a copy to the Department Head

Will an annual physical inventory of walk-away and other recorded non-capitalized assets be required?

Yes

Will the physical inventory of walk-away items and other non-capitalized assets have to be certified?

No

What’s Next?What’s Next?

How to Enter Non-CapsHow to Enter Non-Capsinto the Asset Moduleinto the Asset Module

Tanya Harris, Principal Accountant

Henry Johnson, Lead Senior Accountant

ACO GAD-Capital Assets

PeopleSoft Asset Management (AM)PeopleSoft Asset Management (AM)

Adding Assets Manual Method Interface Method Advantages vs. Disadvantages

NAVIGATIONNAVIGATION

NAVIGATIONNAVIGATION

NAVIGATIONNAVIGATION

GENERALGENERAL INFOINFO 1 1

IMAGEIMAGE

COMMENTSCOMMENTS

LOCATIONLOCATION

CUSTODIANCUSTODIAN

LICENSE / REGISTRATIONLICENSE / REGISTRATION

MANUFACTURERMANUFACTURER

ACQUISITIONACQUISITION DETAIL 1 DETAIL 1

CAPITALIZECAPITALIZE

PeopleSoft Asset ManagementPeopleSoft Asset Management

Interface Method

Identify Non - Capital Asset at AP Voucher

AP Voucher is the best business practice

Easy as 1-2-3

PeopleSoft Asset ManagementPeopleSoft Asset Management

Interface Method (Continued)

• Step 1

• Mark Asset Check Box and select Profile ID on AP Voucher (NOCAP)

PeopleSoft Asset ManagementPeopleSoft Asset Management

PeopleSoft Asset ManagementPeopleSoft Asset Management

PeopleSoft Asset ManagementPeopleSoft Asset Management

Interface Method (Continued)

• Step 2

• Mark Auto Approve Status Check Box

PeopleSoft Asset ManagementPeopleSoft Asset Management

PeopleSoft Asset ManagementPeopleSoft Asset Management

PeopleSoft Asset ManagementPeopleSoft Asset Management

PeopleSoft Asset ManagementPeopleSoft Asset Management

PeopleSoft Asset ManagementPeopleSoft Asset Management

PeopleSoft Asset ManagementPeopleSoft Asset Management

Interface Method (Continued)

Easy as 1-2-3

PeopleSoft Asset ManagementPeopleSoft Asset Management

Interface Method (Continued)

• Advantages

• Disadvantages

PeopleSoft Asset ManagementPeopleSoft Asset Management

Advantages• Eliminates double entry• Minimizes keying errors• Provides Audit Trail

PeopleSoft Asset ManagementPeopleSoft Asset Management

Disadvantages• None

ARE THERE ANYARE THERE ANY

QUESTIONS ?

Ahoy Matie! Ahoy Matie! Pirate Booty Candy!Pirate Booty Candy!

Next MAM MeetingNext MAM Meeting

December 11, 2006December 11, 2006 (9:00 am – 11:00 am)(9:00 am – 11:00 am)

Wrap UpWrap Up

Meeting Evaluation Open Forum

Thank youThank you for your participation for your participation