asset management: tips, techniques, and reconciliation
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Asset Management: Tips, Techniques, and Reconciliation. Georgia Knauss Sr. Support Engineer Support and Delivery [email protected]. What we will cover …. Setup Processing: Tips and procedures Edits and trouble shooting Month-end Procedures Advanced functionality - PowerPoint PPT PresentationTRANSCRIPT
Asset Management: Tips, Techniques, and Reconciliation
Georgia KnaussSr. Support EngineerSupport and Delivery
Page 2
Setup
Processing:
– Tips and procedures
– Edits and trouble shooting
– Month-end Procedures
Advanced functionality
Reconciliation and Reporting
What we will cover …
Page 3
AdditionEntered
Transfer in Progress
Disposal in Progress
Adjustmentin Progress
ProcessingReleaseReleased
DepreciationCalculationand Listing
Released
Period CloseReleased
Reinstatement in Progress
Asset Status by Process
Monthly Processing
Page 4
System Options (AM16)
Default options by company for processing
assets.Knowledge Base: 130497
Page 5
System Options
AM 16 Calculate Remaining Life = Y
Adjustment Compute Y
Only
Page 6
AM 16 Display Journal Entries = Y
System Options
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Quick addition (AM20.1)
Single asset Addition (AM20.2)
Interface asset addition (AM15, AM115)
– AMINTER / DBAMAMI
Conversion asset addition (AM500)
– No Journal entries
Reports:
– Reports: AM220 / AM223 / AM275
Asset Additions
Page 8
Quick Additions
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Quick Additions: Items
Page 10
Quick Additions: JE
Page 11
Interfaced Assets AP / AC
Page 12
Selection OptionsMore Selection OptionsAlso See KB 136042
Mass Addition (AP / AC Assets)
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Account Edits
Activity Edits
Date Edits
– Accounts, activity and dates are edited during all processes.
– This is our opportunity to make sure data is intact for update jobs
Edits and Checks
Page 14
Additions
Depr Expense Activity:Determines by Asset
Page 15
Activity used whenever type is used
Activity used whenever Account Group
is used Blank Accounting Units Substituted by AM20.2
Def Accounting Unit
Defaults: Account and Activity
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Tips
Account Edit
– GL00.3, GL00.4, GL00.5 Chart Values
– GL20.2, GL20.3 Detail Account Values
Activity Edit
– AC00, AC10 Activity Group and Activity Edit
– AC06, AC08 Account Category Edit
– AC07, Account Edit
Activity Account Category can default from GL00.4, GL00.5, GL20.3, or AC10
Account and Activity Edits
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Journal Entry Edits Date
Page 18
Tips
Option 1
– Change Date on AM20.5
– Date must be inside Valid Entry Dates on GL01.
Option 2
– Turn Control off (GL01) and / or open GL Period for Back Posting
– Posting period closed: first open period substituted
Date Edits
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Adjustments
– Single asset adjustment (AM20.2 to AM20.5)
Change many things for one asset
– Mass Adjustments (AM25 / AM125)
Change one thing for many assets
– Reports: AM225 / AM275
Transfers
– Single and partial asset transfer (AM30)
– Mass asset transfer (AM35 / AM135)
– Reports: AM230 / AM235 / AM275
Adjustments and Transfers
Page 20
Adjustments VS TransfersChange Adjust Transfer Journal Entry?
Company X Yes
Location / Division X X No
Account information - Type X X Asset / Accumulated Depreciation
Accounting Unit Group or Def Accounting Unit
X X Asset / Accumulated Depreciation
Item changes X Amounts
Book changes X Posting book Amount
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Tips
– Can reset single asset adjustment on AM20.2 before AM170 update.
– Can delete mass asset changes before AM170 update (AM125: Release = Delete)
– AM25 filter options
– Narrow selection more – use same to and from change on AM125.
– Remember: Set Posting Entries flag on AM125 to Y
Adjustments
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Tips
– Can delete single asset transfer on AM30 before AM170 update.
– Can delete mass asset transfers before AM170 update (AM135: Release = Delete)
– AM35 filter options
– For inter-company transfers all books on the from and to company must have the same calendar set up
– Remember: Set Posting Entries flag on AM135 to Y
Transfers
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Disposals
– Single and Partial asset disposal (AM40)
– Mass asset disposal (AM45 / AM145)
– Reports: AM240 / AM245 / AM275
Reinstatements
– Single asset reinstatement of a full disposal only (AM41)
– Reports: AM241 / AM275
Disposals and Reinstatements
Page 24
Tips:
– Can delete single asset disposal on AM40 before AM170 update.
– Can delete mass asset disposals before AM170 update (AM145: Release = Delete)
– Use the “purge” type disposal if no gain or loss should be calculated.
– Remember: Set Posting Entries flag on AM145 to Y
Disposals
Page 25
Tips
– Reinstate full disposals only
– Reinstatement must be during the same year of disposal.
– All disposal records are deleted. (Except transactions)
– After update with AM170 asset returns to a live asset with a released status
Reinstatements
Page 26
All Processes create transactions where applicable
– Additions / Adjustments: AM20.5
– Transfers: AM30.3
– Disposals: AM40.4
– Reinstatements: AM41.2
Used for reconciliation / update to GL
Used for history creation
Reports:AM275 / AM270
Posting Book - Transactions
AMTRANS
DBAMAMT
Page 27
Processing Release Tips (Version 8.0)
– Prior to AM170 in update:AM275 for all books for journal entry / audit record review
Tips (Version 8.1 and 9.0)
– Prior to AM170 in update: AM170 in non-release for posting book journal entry
review
AM275 for non-posting book(s) for audit record review
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Tips (Continued – all versions)
– Run for selected processes
– Update creates released journal entriesGeneral Ledger (GL45 – Released entry)
Activity Management (AC45 – Released entry)
– Prepares system for Depreciation Calculation
Processing Release
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Tips
– Calculates Current Period depreciation
– No update to YTD, LTD or remaining life
– No journal entry creation
– Can be run multiple times
– Reports:AM260, AM280
Preliminary close option to include calculated amount in YTD and LTD
All Assets
Depreciation Calculation
Page 30
Tips
– Run in non-update and verify journal entries
– Verify AM01 calendar before close
– Verify AM01 calendar after close
– Run in detail format for easy reconciliation
– Error: Period or year end incomplete
– Creates released AM, GL and AC transactions
Period Close
Page 31
Programs that can speed up processing or help out with “what if” situations.– Depreciation History Rebuild and Balance Creation
AM310 / AM320 / AM501
– Asset Book CopyAM120
– Book / History PurgeAM310
– Disposal Asset PurgeAM330
Other Programs
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If you want to reconcile AM260, AM280, AM220, AM230, AM240, AM241
To General Ledger
Make sure you have a journal entry to reflect the change /
process for the asset.
You have to
Reconcile AM to GL…
Page 33
Account Balance Report - AM270
– Released transactions
Transaction Report – AM275
– Released or Unreleased transactions
Reconciliation Reports
Source:
AMTRANSUMM / DBAMATS – Balances (AM99)
AMTRANS / DBAMAMT – Posting Book Transactions
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Beginning balance:
– AM99 record (AMTRANSUMM) from prior year-end
– Add Transactions (AMTRANS) from prior year end to beginning date requested for report.
Content:
– All AMTRANS records with dates between the requested dates
Ending Balance:
– Sum of Beginning Balance and Content
– This is a calculated amount – from this report
Logic of AM270
Page 35
Asset Report - AM260
Current Year Depreciation Report - AM280
Addition Report – AM220
Transfer Report – AM230
Disposal Report – AM240
Reinstatement Report AM241
Source: AMASTBOOK / DBAMASB (AM20.4)
Source: AMASTBKTRF /DBAMABT, AMASTBKDSP / DBAMABD, AMASTBKRIN / DBAMRIB
Other Reports
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When you make a change on AM20.4 (AMASTBOOK / DBAMASB)
ThenMake sure that you have:
A transaction to reflect the change Accepted by the user
(AMTRANS / DBAMAMT)
Released AM transactions = Released GL transactionsBecause
In other words…
Page 37
Tips AM260 / AM280 Consider:
– Disposal assets
– Fully depreciated assets
– Preliminary close option
AM99 beginning and ending balance corrections
– KB articles 72290 and 85817
AM275 for detail transactions by asset
Attribute lists by creation date
Reconcile AM to GL transactions: KB article 69513
Reconciliation
Questions?
Thanks for attending!