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Assets. Finance Business Solutions. Shaleen Batra Finance Business Solutions – User Support & Training. Agenda. What is an Asset? Tagging of UNSW Asset Buying an Asset Create a PO for Asset Receipt an Asset PO Scenarios Additions and BUILTIN Assets Search an Asset. What is an Asset?.

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slide1

Assets

Finance Business Solutions

Shaleen Batra

Finance Business Solutions – User Support & Training

slide2

Agenda

  • What is an Asset?
  • Tagging of UNSW Asset
  • Buying an Asset
  • Create a PO for Asset
  • Receipt an Asset PO
  • Scenarios
  • Additions and BUILTIN Assets
  • Search an Asset
slide3

What is an Asset?

  • Capitalised Item(s) ≥ $5000

Computers, Other Plant, Office Equipment, AV, Motor Vehicle

To be capitalised over 3yr/ 5yr /8yr /10yr

All the components should be added together

Additional procedures to be followed when creating/receipting a PO

Should be tagged

slide5

Computer Equipment ≥5k

  • Computers
  • Mainframes
  • Monitors
  • Base Units
  • Modems
  • Multi-controllers
  • Desktop printers
  • Plotters
  • Barcode Readers
  • Image Device Scanners
  • Digitisers
  • Sensitisers
  • Interface Cards

Capitalised over 3 years

COMP_CAP (A/C 5200)

slide6

Other Plant & Equipment ≥5k

  • Microscopes
  • Generators
  • Pumps
  • Surgical Equip
  • Lab Items
  • Binoculars
  • Gym Equip
  • Tractors
  • Farm Machinery
  • Mowers
  • Maintenance Machinery
  • Forklifts
  • Trailers
  • Motor Bikes
  • Airplanes

EQ_CAP10YR (A/C 5630)

Capitalised over 10 years

slide7

Office Equipment & AV ≥5k

Audio Visual

Photography

Office Equipment

  • Projectors
  • TV
  • Video
  • Camcorders
  • Editing equip
  • Studio equip
  • Photocopiers
  • Fax Machine
  • Air Conditioning Unit
  • (Portable)
  • Fridge**
  • Camera
  • Lenses
  • Floodlights
  • Processing equip

Capitalised over 5 years

EQ_CAP5YR (A/C 5630)

**only for office use not for research purposes

slide8

Artwork*

Artwork ≥ $5,000

Capitalised

Artwork <$5,000

Non - Capitalised

ART_NONC (A/C 5400)

ARTWORK (A/C 5400)

  • Paintings
  • Prints
  • Ceramics
  • Photographs

*Contact AMU before raising a PO

slide9

Motor Vehicles ≥5k

Motor Vehicles Capitalised

  • Cars
  • Motor Bikes
  • Quad Bikes
  • Vans

MOTOR (A/C 5300)

slide10

Important

note

  • Under $5000 – Not an asset (except artwork)
  • Software – Not an asset. Expense A/C 5620 is used
  • Software included in a package – It is an Asset
  • Furniture – No longer regarded as an asset. Expense A/C 5600 is used
  • Associated cost should be included in the value of an asset e.g. freight, installation, tax & levy.
  • Additional insurance cost, annual fee, training & maintenance should not be included in Asset
  • Only the cost of acquiring the asset should be added not the cost of maintenance
slide11

Classes of non-Assets

Use “GOODS” as category for the above non – assets items and select the relevant

Expense Account

slide12

Asset Tags

Tags are issued in advance of the purchase of an asset

Issued by Asset Management Unit (AMU)

Issued to Business Units (Faculties, Schools & Divisions)

Issued to one designated staff in each area

Contact designated staff in your dept to get a tag

Tags should be affixed to assets at the time of receipt

Apply the tag in the front of the equipment

Physical scanning of the equipment done annually by AMU

slide13
Assets should ONLY be bought using a Purchase Order.

Purchase Orders for assets can be created via eProcurement or Purchasing.

should not be

ASSETS

Purchased

Unless they are bought using a Purchase Order, there is no way of entering the

Asset Management information e.g. owner, tag no, serial no, asset location,

dept etc. Contact Asset Management Unit for more information.

Buying an Asset

slide14

Buying an Asset -Prepayment

Payment in advance for goods or services

Create a PO – Standard process

Contact AP and provide details

Receipt when goods are physically received or commissioned*

Notify AP via email and write prepayment in the subject line

*Process by which equipment (installed or near completion) is tested to verify if it functions according to the requirement

slide15

Asset Purchasing Process

Is this asset owned by UNSW? *1

Have all costs been identified?

Is the total cost ≥ $5k (excl GST)

Raise PO

Check if the correct category code is used

Submit PO for approval

Y

Y

Y

N

N

N

Code to relevant Expense accounts *2

Prepayment?

Need to identify all costs *3

Code to relevant Expense accounts *4

Contact AP

Y

N

Send PO to supplier

Examples:

*1- Research Equipment, lab Equipment, computer equipment & etc

*2- Consumable goods, Services related costs & etc

*3- Inclusion of all parts/components costs of the asset, Freight cost, installation cost & etc

*4- Furniture, equipment not owned by UNSW, equipment <$5k,& etc

slide16

Create a PO for Asset

Asset Category will default the Asset Account.

DO NOT CHANGE

slide17

Asset PO - Description

Description of the Asset

slide19

Description & Comments

  • Description field is limited - only 30 characters will display to Assets Management. (incl. spaces, commas, etc)
  • Ensure the name of the asset is entered in the description field first
  • Attachments – scan and attach quotes, supporting documents, etc.
slide20

Asset PO - Category

ART_NONC

ARTWORK

COMP_CAP

EQ_CAP10YR

EQ_CAP5YR

MOTOR

slide21

Asset Category

When a Purchase Order for Asset is created, the buyer must select an Asset Category

This defaults the appropriateAsset expense account & VAT defaults

Purchase will only be receipted as an Asset if a proper Asset Category is selected

Most Important

slide22

Categories

When an Asset Purchase Order is raised,

buyer must select an Asset Category Code

slide23

Category & Account

Once the category is selected, account will be defaulted automatically. Please do not change it.

If the Asset category code is not selected then the item will not be considered as an Asset.

Asset Management Team will ask you to do a manual update

* Before you raise a PO for Artwork please contact AMU

slide25

Asset PO - Distribution

Asset Account Code has been defaulted according to the Asset Category. Please DO NOT change Account Code

Enter FUND, Program/Class & PROJECT and then click Asset Information Tab

slide26

AM Unit & Profile ID

Defaults from

Category Code

slide27

AM Unit & Profile ID

VCDIV – Vice Chancellor’s area, Internal Audit Academic

Ensure the correct AM Business Unit & Profile ID have defaulted at the Asset Information tab

If you know the Employee ID of the Custodian you can enter it now otherwise this can be done at the time of

receipting

//

slide28

Asset Receipting Process

Save Receipt number in the system

Enter Asset Tag & Serial no in the system

Add Custodian, Dept and Asset Location in the system

Has the asset been physically received?

Has the asset been installed and commissioned*1?

Go to receipt Menu to receipt the PO*2

Can you see Pending link to enter Asset details?

Y

Y

Y

N

N

N

Was Prepayment done?

No Action Required

No Action required

PO was not raised correctly. Contact AMU

Email AP with details and write Prepayment in the subject line

Y

N

Send a copy of invoice to AP with PO no and receipt no for payment

*1 Process by which equipment (installed or near

completion) is tested to verify if it functions

according to the requirement

*2 Asset PO cannot be receipted via Portal Menu

slide29

Receipting Assets

Receipt when goods are installed / commissioned*

Receipt once all items related to the asset have been received,

assembled/configured, tested and are ready to use

3

2

Asset information via Pending Link

Employee ID

  • Tag Number
  • Serial ID

More Details via Pending Link

1

  • Dept Owner
  • Asset Location

Go to Pending link

4

*Process by which equipment (installed or near completion) is tested to verify if it functions according to the requirement

slide31

Asset Receipting

If “Pending” link is not displayed, then you did not correctly select

an Asset Category when the PO was raised

Note: Contact Asset Management Office and details need to be entered manually

slide33

Employee ID

Asset Custodian

Employee ID

slide34

Tag Number & Serial ID

Asset Information

  • Tag Number
  • Serial ID
slide35

Tag Number & Serial ID

Six digit number provided by AMU for tagging Asset

Tag Number

Serial Id of the item

Serial ID

slide36

Asset ID

PLEASE DO NOT CHANGE. Should always be NEXT

Asset ID

Leave blank

Please DO NOTClick this icon.

slide37

Dept Owner

Department who owns the asset

Dept Owner

slide38

Location of the Asset

Should be the location of the Asset. By default it is Ship to location from your profile. If this is not changed then it will be blank when asset details are transferred to AM system

Location

Format of the location should be Building / Level / Room

///

slide39

Scenario 1

Scenario 1: One Line PO – Single Asset and one chartfield

Single Asset

1 line PO

Qty 1

TAG1

SN1

Chartfield 1

Qty 1

slide40

Scenario 2 - PO

Scenario 2: One Line PO – Single Asset with split chartfield

Chartfield 1

Qty 0.7

Single Asset

1 line PO

Qty 1

Chartfield 2

Qty 0.3

slide41

Scenario 2 - Receipt

Scenario 2: One Line PO – Single Asset with split chartfield

Chartfield 1

Qty 0.7

SN1

TAG1

Single Asset

1 line PO

Qty 1

SN1

Chartfield 2

Qty 0.3

TAG1

Tag noand Serial ID should be same for both the distribution lines at the time

of receipting

slide43

Scenario 3 - PO

Scenario 3: One Line PO – Single Asset multiple quantity and same chartfield

Single Asset

1 line PO

Qty 3

Chartfield 1

Qty 3

slide44

Scenario 3 - Receipt

Scenario 3: One Line PO – Single Asset multiple quantity and same chartfield

TAG1

SN1

Single Asset

1 line PO

Qty 3

Chartfield 1

Qty3

TAG2

SN2

TAG3

SN3

When you go to create a receipt and click Pending link, you will see 3

lines. All 3 are separate Assets not part of one asset. Each distribution line

Should have a separate Tag no and Serial ID.

If you use the same tag number, receipt will be saved in “Fully Received” status. However, this will create issues at the time of

physical scanning of the equipments.

If you use the same serial ID, receipt will be saved in open status which is incorrect and Asset will have problems transferring to Asset

register. Amend the serial ID and save. Receipt status will be changed to “Fully Received”

slide45

Scenario 3 – Receipt

Different Tag No &

Different Serial ID

Should always be NEXT. DO NOT Change

slide46

Scenario 4 - PO

Scenario 4: One Line PO – Single Asset multiple quantity and multiple chartfield

Chartfield 1

Qty 1

Single Asset

1 line PO

Qty 3

Chartfield 2

Qty 2

Chartfield 3

Qty 3

slide47

Scenario 4 - Receipt

Scenario 4: One Line PO – Single Asset multiple quantity and multiple chartfield

Chartfield 1

Qty 1

SN1

TAG1

Single Asset

1 line PO

Qty 3

Chartfield 2

Qty 2

TAG2

SN2

Chartfield 3

Qty 3

TAG3

SN3

When you go to create a receipt and click Pending link, you will see 3

lines. All 3 are separate Assets not part of one asset. Each distribution line

Should have a separate Tag no and Serial ID.

If you use the same tag number, receipt will be saved in “Fully Received” status. However, this will create issues at the time of

physical scanning of the equipments.

If you use the same serial ID, receipt will be saved in open status which is incorrect and Asset will have problems transferring to Asset

register. Amend the serial ID and save. Receipt status will be changed to “Fully Received”

slide48

Scenario 4 - Receipt

Different Tag No &

Different Serial ID

Should always be NEXT. DO NOT Change

slide49

Scenario 5 - PO

Scenario 5: Multiple Line PO – Asset with several components

Asset 1

Core

Qty 1

Chartfield 1

Qty 1

Asset 1

Component A

Qty 1

Chartfield 1

Qty 1

Asset 1

Component B

Qty 1

Chartfield 1

Qty 1

Asset Category should be used for all the lines including freight and installation

slide50

Scenario 5

Scenario 5: Multiple Line PO – Asset with several components

Asset 1

Core

Qty 1

Chartfield 1

Qty 1

SN1

TAG1

Asset 1

Component A

Qty 1

Chartfield 1

Qty 1

Component A

TAG1

Asset 1

Component B

Qty 1

Chartfield 1

Qty 1

Component B

TAG1

TAG number for all three lines should be same. You can write Serial ID of the Core component and Use Component A and

Component B for associated items

slide51

Scenario 5 - Receipt

Scenario 5: Multiple Line PO – Asset with several components

Line 1

Line 2

Line 3

slide52

Additions – Existing Asset

Enhance Functionality of an

existing Asset

Additions

OR

Add to the life of anexisting

Asset

Part of an existing Asset

OR

Individual Asset

  • Will that be used as a part of other Asset?
  • Will that be used as a part of more than one Asset?
  • Will that be used as an individual?

Scenario: If you are buying a new microscope

slide53

Scenario 6 - PO

Scenario 6: Multiple Asset PO – Addition to an Existing Asset on UNSW Asset Register

Asset 1

Qty 1

Chartfield 1

Qty 1

Chartfield 1

Qty 0.5

Asset 2

Qty 1

Chartfield 2

Qty 0.5

Line 1 – Asset 1 – EEG Recording H/W – Individual Asset

Line 2 – Asset 2 – EEG Enhancement – BUILT IN to an existing Asset previously purchased

slide54

Scenario 6 – PO Distribution

Scenario 6: Multiple Asset PO – Addition to an Existing Asset on UNSW Asset Register

Line 1 – Asset 1 – EEG Recording H/W – Individual Asset

Line 2 – Asset 2 – EEG Enhancement – BUILT IN to an existing Asset previously purchased

slide55

Scenario 6 - Receipt

Scenario 6: MultipleAsset PO – Addition to an Existing Asset on UNSW Asset Register

TAG1

Asset 1

Qty 1

Chartfield 1

Qty 1

SN1

TAG #

Existing Asset

BUILTIN - A

Chartfield 1

Qty 0.5

Asset 2

Qty 1

Chartfield 2

Qty 0.5

TAG #

Existing Asset

BUILTIN - A

slide56

Scenario 6 - Receipt

Scenario 6: Multiple Line PO – Addition to an Existing Asset on UNSW Asset Register

New Tag Number

Line 1 – Asset 1 – EEG Recording H/W

Line 2 – Asset 2 – EEG Enhancement – BUILT IN to an existing Asset previously purchased

Tag number of the existing Asset

//

slide57

Search for Receipted Asset

Search either with the PO number

or

Receipt number

//

slide58

Search for Receipted Asset

Asset Information link can only be accessed for the selected line.

//

slide59

Troubleshooting

1. When I go to receipt the PO, there is no Pending link.

Asset Category Code was not selected at the time of

creating the PO. Contact AMU.

2. I receipted all the lines of the PO but the receipt is still in Open Status.

  • Check if the Tag number and Serial ID is entered correctly
  • Make sure that the Asset ID is “NEXT”

3. I am buying an Artwork for my Dept. What should I do before raising a PO

Contact Asset Management Unit

slide61

Support & Guidance

  • Buying Network
      • Ext. 53330, Email - Buyingnetwork@unsw.edu.au
      • Find My Buying Network -http://www.fin.unsw.edu.au/OurServices/FinancialOperations_Purchasing_FindBuyingNetwork.html
  • Accounts Payable
      • AP Help - Ext. 53356, Email - aphelp@unsw.edu.au
      • Payment of Invoices, Email- invoiceap@unsw.edu.au
  • Finance Website – Purchasing
      • http://www.fin.unsw.edu.au/OurServices/FinancialOperations_Purchasing.html
  • Purchasing Guidelines & Procedures
      • http://www.fin.unsw.edu.au/OurServices/FinancialOperations_Purchasing_Guidelines.html
      • http://www.fin.unsw.edu.au/files/PP/Purchase_Order_Procedure.pdf
  • Asset Management Unit
      • Francine Porto Gomes- Ext. 53865, Email – assets@unsw.edu.au
      • http://www.fin.unsw.edu.au/OurServices/FinancialControl_AssetManagement.html
slide62

User Support & Training

  • Finance Website – Training

https://www.fin.unsw.edu.au/NSF_KnowledgeBase/FKB_Training.html

  • Training Enquiries
      • Ext. 53550 / 57665, Email fti@unsw.edu.au