oracle fixed asset application phase i training manual - · pdf fileoracle fixed asset...

Oracle

Fixed Asset Application Phase I Training Manual Rev. 11/2010 School Financial Services Internal Accounts Management

Oracle Fixed Asset Application – Webinar Review – 5‐26‐10

The New Oracle Fixed Asset Application The Office of School Financial Services is pleased to announce the launch of the new Oracle Fixed Asset Application (FAA) on June 1, 2010. This innovative, on‐line system replaces the Microsoft Excel asset registers, making asset data easy to maintain and improving school compliance with Board Policy 04‐0526‐PO1. The system includes:

• Data submitted by schools from last year’s asset registers; • Assets purchased through the Oracle I‐Procurement this fiscal year; • Data from TechXL.

For your convenience, we have granted access to the FAA to all principals and Internal Accounts Management System (IAMS) users. If access is required for other school staff with fixed asset responsibilities, please contact the Internal Accounts hotline (553‐2750). We will need the name, unit number, school name, and the user ID for each additional staff in need of access.

The Oracle FAA module includes a look‐up list, refreshed overnight with recent Tech XL purchase information such as equipment Description, Asset Tag, Serial No, Make, Model and Lease and Warrantee Dates. This feature has been designed to populate automatically those fields for the CPS Purchasing records or even for the Internal Accounts purchases.

What Assets Are Recorded? Furniture and equipment purchased, leased or donated at a value of $500.00 and a useful life of more than one year.

What is Conversion Data? The FY ’09 asset registers submitted by the schools were converted and loaded in to the new FAA system. During conversion, some data did not convert. And, many asset registers were missing information. As a result, default values were added to fields with missing data. These values were entered so that schools could process Conversion records from Incomplete status to Complete status.


The following values were used and should be updated when accurate data is available:

Field Default Field Default

Asset Category Fixed Asset Asset Description Conversion

Serial Number Conversion Asset Tag Unknown

Make Conversion Funding Source School

Condition Good Room No/Description School

PO Number Conversion Purchase Date Jul 1 2000

Purchase Price 0.00 Vendor Name Conversion

Additional correction and updating can be deferred until a later time. These default values are only applicable to FY09 Conversion records, not new assets purchased or donated in FY10, which must instead be entered accurately by the school before these new records are approved.

Where To Direct Questions and Get Support School Financial Services – Internal Accounts Hotline: 773‐553‐2750 Email: [email protected]


Schools must submit updated Fixed Asset data by June 30th of each Fiscal Year.

Tasks to Complete by June 30th

1. Complete physical inventory of all assets as by May 31st of each fiscal year (See Section III, Tasks 612).

a. Update Fixed Asset Application FY09 Conversion data to reflect accurate information.

b. Identify NonAssets and Duplicates and update asset status in system (See Section III).

2. Complete records of new assets purchased the current fiscal year through Oracle IProcurement (See Section V).

3. Enter data on new assets purchased or donated the current fiscal year through Internal Accounts (See Section VI).

4. Identify assets to transfer/dispose and record in the system. Submit signed Transfer/Disposal Report to General Accounting (See Section IX)

5. Print the Asset Register for the Principal’s review and file at the school. Do not mail to General Accounting as the online data is sufficient.

6. Contact the Internal Accounts Hotline at x32750 or send an email to [email protected] if you have questions or need assistance. Also, we welcome you to give us suggestions for enhancements for next year.


I. Fixed Asset Application Screens The Fixed Asset Application contains several screens to facilitate maintenance of the Fixed Asset Register and annual physical inventory.

Functions: Search/ View Lists

Export Data

Create/ Update Data

Comments

Physical Inventory Yes Yes Yes View and update for quick entry for selected key fields especially physical inventory and conversion, key dates

Fixed Asset Inquiry Yes Yes View listing of all or selected assets

Fixed Asset Detail Yes View and update records

New Asset Yes Create new IAMS or donated records

Affiliated Asset Yes Create multiple records or group closely related assets

Action History View user and date of status changes


Screen 1 ‐ Fixed Asset Inventory Screen (Physical Inventory) The Fixed Asset Inventory module is used to help schools complete the annual physical inventory of assets in the building(s). It also is a method of quick entry of same data to multiple asset records.

Buttons • Go – Displays search results or all data • Clear – Clears all search criteria entered on screen to prepare for next search • Save – Adds Quick Entry fields to selected asset records. • Export – Exports the data list to Microsoft Excel • Print Asset Register • Print Transfer/Disposal Quick Entry Fields:

• Annual Physical Inventory Date – required to be updated minimally once a year • Person Doing Physical Inventory – enables work to be divided and audit trail retained • Room No/Description – update whenever asset is moved • Purchase Date – date that invoice or IAMS check is recorded on the accounting system, not when

order is placed through opening of Purchase Order • Purchase Price – amount paid excluding shipping or market value of donated asset • Non‐Asset/Duplicate – Items not required to report in physical inventory such as service charge,

shipping, keyboard, monitor, postage, etc.

Top Section

Inquiry

Mid Section

Quick Entry

Bottom Section

Search Results


Screen 2 ‐ Fixed Asset Inquiry The Fixed Assets module is the link to the actual system. It provides detailed information on each asset. Asset records can only be completed in this module.

Buttons • Go – Displays search results or all data • Clear – Clears all search criteria entered on screen to prepare for the next search • Asset Detail – Opens the detailed information of a selected asset record • New Asset – Opens a blank Asset Detail screen to enter detailed information on a new asset

related to Internal Accounts purchase or donation • Export – Exports the data list to Microsoft Excel • Action History – Displays the name of the individual who changed the status of an asset and the

date the status was changed. • Print Transfer/Disposal‐ Uploads data from all assets marked for Transfer/Disposal and in the

“inactive” status into a printable file that can be submitted to General Accounting. • Print Asset Register‐ Uploads your asset register into a printable document that can be used to

conduct the physical inventory.

Inquiry


Search Criteria:

• Reference ID – Oracle system ID, which is automatically assigned when new asset is recorded

• Owner Unit – Unit that purchased the asset and currently has responsibility for it.

• PO Number

• Asset Data Source – Conversion FY09, Oracle Purchasing, IAMS Purchased, Donated

• Status – Incomplete, Complete, Inactive, Non‐Asset/Duplicate

• Asset Description – may use wildcard symbol “%” with text to find single record or group of records

• Vendor Name

• Serial Number – all computer equipment and electronic should have serial numbers

• Asset Tag – all assets (furniture & equipment) required to have asset tag

• Room No/Description – where the item is located with description of location.


Screens 3 and 4 ‐ Fixed Asset Detail Screen and New Asset Screen The Fixed Asset Detail screen displays the detailed information about an asset. This is the only page used to change asset status from Incomplete to Complete. Required fields are identified by an asterisk. This is also the only screen where the full budget classification is displayed at the bottom. The New Asset Screen is a blank screen identical to the Fixed Asset Detail Screen.


Page Sections:

• General Information • Asset

o Serial Number‐ Required on equipment; not required on furniture. The Magnifying Glass is a link to search for data in the TechXL database.

o Owning Unit‐ When creating a new record the owning unit must be entered, if this information is omitted when the record is saved the record will be lost.

o Tag Number ‐ Required on all assets (furniture and equipment) o Make, Funding Source and Condition – other required fields per Board Policy o Physical Inventory Date and Person ‐ These fields are not required fields to complete the

initial setup of the asset record, but provide a tool to record evidence of who and when the annual inventory required by Board policy was done.

• Location ‐ Where asset will be used. The Magnifying Glass is a link to search for locations within your school unit such as CPC, Branch, Annex, etc.

• Purchase Order ‐ PO number is automatically added for new Oracle I‐Procurement purchases. PO not required on items purchased through Internal Accounts.

• Lease/Warrantee ‐ optional and only applicable to certain equipment. • Retirement/Disposal – completed when the asset will be removed from the school’s possession.

Buttons:

• Save – Save data as one works to avoid loss of data if an error or interruption occurs • Approve – Change status from Incomplete to Complete if all required fields marked with an

asterisk are entered • Return Inquiry – Return to the Fixed Asset Inquiry page.


Screen 5 ‐ Fixed Asset Detail – Affiliated Asset Screen This screen is used when items were purchased with a PO that did not list the number of assets (i.e. PO open for $20,000 with quantity of one to purchase 20 computers). To make sure all items on the purchase order are recorded in the system, the items must be recorded as an Affiliated Asset to the one item automatically added to the system.

The Affiliated Asset page is only accessible from the Fixed Asset Detail page of the one asset added to the system. The system will automatically record the PO information from the original asset. An asset record must be added for each item (if 20 computers ordered; 20 Affiliated Asset records must be added). The purchase price for each asset must equal the total amount of original asset record automatically added to the system from Oracle I‐Procurement. Notice in the example above, a penny was added to the 1st item so that the total purchase price of all 3 items equal the total amount of the original item of $2,986.


Screen 6 ‐ Action History The Action History screen displays the historical information on an asset’s status change. It includes the action description, current status, action date, person who performed the change, and any notes. The current status is reflected on the last row.

This page is only accessible from the Fixed Asset module.


II. Access the System

1. Log into Oracle. 2. On the Navigator Screen, select CPS Fixed Assets. 3. On the right, select either Physical Inventory or Fixed Assets.

a. The Physical Inventory module is used to help schools complete the annual physical inventory of assets in the building(s). It also is a method of quick entry of same data to multiple asset records.

b. The Fixed Assets module is the link to the actual system. It provides detailed information on each asset. Asset records can only be completed in this module.

c. The Fixed Asset and Physical Inventory modules can be used to search, sort, and export data.

d. Once you have logged into one of the modules, you will use the Home link (at top right side of screen) to toggle between the two modules.

Note: If you do not see the CPS Fixed Asset link, principals can request access for staff by contacting the IAMS Hotline at 773‐553‐2750.


III. Review FY09 Conversion Records and Conduct Physical Inventory

1. Navigate to the Fixed Asset Inventory screen.

>Oracle > CPS Fixed Assets Inventory > Physical Inventory


Quick Entry Fields:

• Annual Physical Inventory Date – required to be updated minimally once a year

• Person Doing Physical Inventory

• Room No/Description

• Purchase Date

• Purchase Price

• Non‐Asset/Duplicate o Non Assets – Items such as service charge, shipping, keyboard, monitor, etc.; o Duplicate – record that was in both FY09 Conversion and also CPS Purchasing records due to

timing. Simply pick the record with the most fields completed, add any missing data and inactivate the second record

2. Complete Room location of the FY10 Oracle I‐Procurement Asset Records a. Go to Physical Inventory module b. Change Asset Data Source to CPS Purchasing c. Click Go d. Enter Room No / Description from the current FY10 Excel Asset Register e. Click Save so that data appears and can be sorted for your physical inventory.

3. Identify Non‐Assets/Duplicates. Non‐Assets include any item that did not have an original value of $500.00 or more or is not furniture or equipment (such as service agreements, shipping/handling, textbooks, monitors, etc.). Duplicates may exist between the FY09 Conversion and the CPS Purchasing records because a start date of June 1, 2009 was used.

a. From the Physical Inventory module, select Yes in the Non‐Asset/Duplicate field by clicking the dropdown arrow

b. Click Go to display all assets. c. Scroll through the list to identify non‐asset or duplicate items that are not required

to report on the physical inventory (i.e. shipping/handling, postage stamps, keyboards, monitors, duplicate items, items that are not $500.00 or more, etc.)

d. Select each non‐asset/duplicate by clicking the Select box. e. Click Save button to remove each non‐asset/duplicate item.

The status of each of the selected non‐asset items is changed to Non‐Asset. These assets no longer are included in the default list of Incomplete and Complete records, but can be reviewed by selecting Status = Non‐Asset / Duplicate.

4. Prepare for Physical Inventory walkthrough. a. From the Asset Inventory list, sort data by location. b. Export the sorted list to Excel by clicking the Export button. c. Print d. Check off items during the Physical Inventory walkthrough e. Add information for items found that are not on the list f. Update data as needed g. Identify assets to transfer or dispose.


5. Update Asset Inventory on the system a. Go to the Fixed Asset module. b. Search and find each asset that requires updates.

i. Click the Reference ID link to open the Asset Detail. ii. Update the Description, PO #, Asset Tag, Serial #, Vendor/Make, Purchase

Date, Purchase Price, Room #/Description. iii. Click Save or Approve to update the asset record. iv. Repeat for each asset to update.

c. Add Assets i. Go to Fixed Asset module ii. Click Add Asset button iii. Enter information on Asset Detail iv. Be sure to add the Owning Unit to avoid data loss v. Click Save and Approve to record data entry. vi. Click Return to Inquiry vii. Repeat until all additional assets are added to the system.

d. To enter the same data to multiple records: i. Go to the Physical Inventory page. ii. Enter the data to add to multiple records (Inventory date, Person

completing Inventory, Room #Description, Purchase Date, Purchase Price, and/or Non‐asset/Duplicate).

iii. Select the asset records that data should be added to. Be careful in the selection since existing data will be overwritten.


e. Click Save button to save the data. The system populates the data in each selected asset record.

When physical inventory is completed and updated on the system, the Annual Physical Inventory Date and Person Doing Physical Inventory must be added to each asset.

6. Enter the Annual Physical Inventory Date 7. Enter the Person Doing Physical Inventory 8. Update the Room #/Description if necessary 9. Click the Select All link 10. Click Save

The system will automatically add the date and person to each asset record. 11. Print the Asset Register Report and submit to the Principal for review and filing.

a. The Report should not be mailed to General Accounting as the data is now available on‐line.


IV. Identify NonAssets/Duplicates from Fixed Asset Module Non‐Assets include any item that did not have an original value of $500.00 or more or is not furniture or equipment (such as service agreements, shipping/handling, textbooks, monitors, etc.). Note: if identifying multiple assets to mark as non‐assets/duplicates, the easier method to use is the Physical Inventory module.

1. From the Fixed Asset module, find non‐asset/duplicate item to mark a. Click Go to display all or search for item(s)

2. If you note a record that is not an asset, click the link to the Reference ID to open the Asset Detail page.

3. You can expedite identifying these, by setting the search criteria to Purchase Price between $0 and $499.


1. Change the Non‐Asset/Duplicate field from No to Yes.

2. Click Approve Status changes from Incomplete to Non‐Asset/Duplicate


These assets no longer are included in the default list of Incomplete and Complete records, but can reviewed by selecting Status = Non‐Asset / Duplicate.


V. Complete Oracle IProcurement FY10 Asset Records The system automatically adds data of assets purchased through Oracle I‐Procurement once a Purchase Order and Invoice is generated. These records are in Incomplete status and requires the school to Complete the record by entering required data to the Asset Detail page (i.e., asset category, asset serial number, asset tag, location, room, etc.) Search for new assets purchased through I‐Procurement.

1. Navigate to the Fixed Asset Inquiry screen.

>Oracle > CPS Fixed Assets Inventory > Fixed Assets 2. From the Asset Data Source dropdown list, select Oracle Purchasing.

3. Click Go The system displays search results.

4. Complete new asset record.

a. Select the record by clicking the Select Radio button. The system displays the Asset Detail page.

b. Enter all required fields identified with an asterisk. c. Click Save to save the data onto the system. d. Click Approve to change the asset’s status to Complete

System displays confirmation. Status changed from Incomplete to Complete.


VI. Add Internal Accounts FY10 Asset Records

1. Navigate to the Fixed Asset Inquiry screen.

>Oracle > CPS Fixed Assets Inventory > Fixed Assets 2. Click the New Asset button.

The Fixed Asset Detail screen opens. Notice the default for Asset Data Source is IAMS Purchase. If necessary, the Asset Data Source can be changed from IAMS Purchase to Donated Assets by clicking the dropdown arrow.


3. Enter all required data fields identified by an asterisk. 4. Click Save to save the data. 5. Click Approve to save and change asset status

The system will display a confirmation.


VII. Complete Incomplete Records

1. Navigate to the Fixed Asset screen.

>Oracle > CPS Fixed Assets Inventory > Fixed Assets 2. Change Status to Incomplete 3. Click the Go button.

The system displays all asset records. 4. Select the record you want to complete by clicking the Select Radio button

The system displays the Asset Detail page.

5. Add data to required fields identified by asterisk.

For FY09 Conversion records, update default values ‐ especially for Purchase Price (0.00) and Purchase Date (July 1, 2000) ‐ to correct information by referring to the FY09 Excel Asset Register.

For CPS Purchasing records, note that Direct Pay / P‐Card purchases will not require a PO#, and Vendor Name is often Harris Bank 1 . Since Oracle Purchasing data is uneditable, school can use the “Remarks” field to include relevant, additional information. The Remarks field will appear on lists and reports.


6. Click Save to save the data. 7. Click Approve to save and change asset status

The system will display a confirmation.


VIII. View Action History


>Oracle > CPS Fixed Assets Inventory > Fixed Assets 2. Enter Search Criteria 3. Click the Go button.

The system displays all asset records.

4. Select the asset record for which you wish to view Action History by clicking the Reference

ID link. 5. Click the Action History button.

The system displays Action History.


6. View Action History data.

• Action History only records data on the date and person who changed the status of the asset record.

• Action History data includes the current status (on last row), Action Date (date status was changed), Performed by (name) and a Note/Comment section.

7. Click Return Inquiry button.


IX. Transfer/Dispose of Assets


>Oracle > CPS Fixed Assets Inventory > Fixed Assets 2. Enter Search Criteria for records under review 3. Click the Go button.

The system displays search results.

4. Select the asset record for Transfer or Disposal by clicking the Reference ID link. The Asset Detail screen opens


5. Completed all required fields (identified with an asterisk) 6. Approve

Status changes from Incomplete to Complete


7. Complete Retirement/Disposal section at bottom of the screen.

8. Select the Disposal/Transfer/Inactivate Reason.

Disposal/Transfer/Inactivate Reason:

• Disposal‐Sale – Asset is being sold. Enter Disposal/Transfer/Inactivate Date Enter Sale Price

• Transfer to Non‐School – Asset transferred to not‐for‐profit organization. Enter Disposal/Transfer/Inactivate Date Enter Receipt By and Receipt Date

• Transfer to Student – Asset given to student following Board Policy of student lottery. Enter Disposal/Transfer/Inactivate Date Enter Receipt By and Receipt Date

• Disposal‐Retirement – Asset is thrown away


Enter Disposal/Transfer/Inactivate Date Enter Receipt By and Receipt Date

• Disposal‐$$ to Grantor – Asset is sold; but school is required to return funds from the sale to the Grantor

Enter Disposal/Transfer/Inactivate Date Enter Sale Price

• Disposal‐TechXL – TechXL picks up the asset from the school and disposes of the asset Enter Disposal/Transfer/Inactivate Date Enter Receipt By and Receipt Date

• Lost‐Stolen Enter Disposal/Transfer/Inactivate Date Enter Police Report Number

9. Print the Asset Transfer/Disposal Form and submit for signatures. 10. Enter signatures from Asset Disposal Form.

• Unit Authorized Name

• Unit Authorized Date

• LSC Authorized Name

• LSC Authorized Date

11. Click Approve. Status is now Inactive.


The completed and signed Asset Transfer/Disposal Form must be submitted to Bureau of General Accounting (GSR 125 – 14th floor).

oracle fixed asset application phase i training manual - · pdf fileoracle fixed asset...

Documents