fi$cal change discussion guide asset management guide march 2015

FI$Cal Change Discussion Guide

Asset Management Guide

March 2015

FI$Cal Solution

Legend

Pre-Wave

Wave 1

Wave 2

FI$Cal: Transparency. Accuracy. Integrity. 2March 2015

Process Overview Key Impacts The Manage Assets process covers all

activities related to maintaining assets within FI$Cal

This includes the following sub-processes: Acquire Asset Maintain Asset Retire Asset Depreciate Asset Month-End Processing

Assets are created using physical information from receipt and financial information from voucher

Assets may be directly added in Asset Management (donated assets, corrections, etc.)

Detailed asset information can be entered, updated, and maintained in FI$Cal once asset is received

Asset information is searchable and reportable

Acquisition details provide traceability back to purchase order, receipt, and voucher

Asset Management


Manage Assets

Key Impacts Key Impacts Once approved by the Department of

General Services (DGS) outside the System, asset disposals are performed in FI$Cal

If proceeds are received for an asset, the asset should remain in FI$Cal until proceed amount is determined

An asset can be reinstated to the point in time in which it was disposed

FI$Cal calculates depreciation on an asset-by-asset basis using standardized useful life, depreciation method, and depreciation convention

Departments validate depreciation calculations in preparation for sending to the General Ledger at month end

FI$Cal creates the accounting entries to be sent to the General Ledger for asset additions, adjustments, depreciation, and retirements

Journal entries will be sent to General Ledger for reporting purposes

Asset Management


Manage Assets


Department-Specific Impacts and Notes

Asset Management

As we transition to FI$Cal roles and responsibilities will change as follows: [ROLE] – [CHANGE IN ROLE RESPONSIBILITIES] [ROLE] – [CHANGE IN ROLE RESPONSIBILITIES]

Department business processes around Manage Assets will change as follows: [ENTER CHANGE IN BUSINESS PROCESS] [ENTER CHANGE IN BUSINESS PROCESS]

Increased communication and integration between the following business areas will be needed: [ENTER AREA 1 & AREA 2] – [ENTER ACTIVITIY THAT MUST

BE COMPLETED TOGETHER]

Manage Assets


FI$Cal End-User Roles

Asset Management

FI$Cal End-User Role DescriptionDepartment Asset Processor

The department end user who processes assets originating from Purchasing, Accounts Payable, and/or Project Costing, as well as enters assets directly in the Asset Management module.

Department Asset Manager

The department end user who enters additions/ adjustments to an asset, performs IntraUnit/InterUnit transfers for an asset, and processes retirements/reinstatements for an asset.

Department Asset Maintainer

The department end user who manages the physical information associated with assets under their control (Locations, Tag Numbers, Custodians, etc.). This user is not responsible for the recording of any financial information (change in funding).

Manage Assets



Asset Management

FI$Cal End-User Role DescriptionConfidential Asset Maintainer

The central and department end user who enters and updates confidential information associated with assets, such as vehicle identification number (VIN) and Asset Class.

Department Asset Depreciation Processor

The department end user who reviews and validates the depreciation calculations for their department, including changing the depreciation attributes, as needed, and running depreciation on an ad hoc basis.

Department Asset Month-End Processor

The department end user who executes and validates month-end processes for Asset Management.

Manage Assets



Asset Management

FI$Cal End-User Role DescriptionAsset Viewer The central and department end user who can view

both financial and physical asset information. Department end users will only view assets within their business unit.

Department Asset Configuration Maintainer

The department end user who updates and maintains configuration values that are designated as being maintained by departments.

Department Asset Confidential Reporter

The department end user who can view the confidential asset information on the AM confidential report. Department end users will only be able to run the report within their business unit.

Manage Assets

Process Overview Key Impacts The Leased Assets process covers the

lease lifecycle for operating and capital leases as determined by FASB 13 and GASB 13

This includes the following sub-processes: Add Leased Asset Maintain Leased Asset Set Payment Schedule Process Payment

Any lease with cost index based payment schedules will be managed in FI$Cal as procurement contracts

Lease Payment Schedules will be voucher release schedules on the contract

Assets may be added manually if the lease needs to be amortized

FI$Cal creates the accounting entries to be sent to the General Ledger for Leased Asset transactions and payments

Payments run through interest and obligation clearing accounts with AM and AP

Asset Management


Leased Assets



Asset Management


Department business processes around Leased Assets will change as follows: [ENTER CHANGE IN BUSINESS PROCESS] [ENTER CHANGE IN BUSINESS PROCESS]



Leased Assets



Asset Management

FI$Cal End-User Role DescriptionDepartment AM Lease Processor

Department user that processes leased assets.

Leased Assets

Process Overview Key Impacts The Physical Inventory process covers

activities related to barcode scanning or manually conducting a physical inventory of assets

This includes the following sub-processes: Perform Physical Count Upload Result Reconcile Inventory

Overs and Unders Report will display exceptions

Physical Inventory History record is entered in the system for all found assets

Integrated scanning solution Asset Advantage is available

Departments with existing technology (scanners) may choose to develop their own process for integrating with FI$Cal

Asset Management


Physical Inventory



Asset Management


Department business processes around Physical Inventory will change as follows: [ENTER CHANGE IN BUSINESS PROCESS] [ENTER CHANGE IN BUSINESS PROCESS]



Physical Inventory



Asset Management

FI$Cal End-User Role DescriptionDepartment AM Physical Inventory Processor

Department user that processes physical inventory.

Physical Inventory

Process Overview Key Impacts The Transfer Assets process covers all

activities related to managing the transfer of assets after it has been placed in service

This includes the following sub-processes: Inter-Unit Transfer (between

Business Units) Intra-Unit Transfer (within a

Business Unit) Cost Adjustment Re-categorize Asset

Once approved by DGS through online STD Form 158, asset transfers are performed in FI$Cal

InterUnit transfers create a new asset for the receiving department, using the current cost and accumulated depreciation All asset information will be

transferred with the asset

Intra-Unit transfers are performed in FI$Cal Transfer between funds will initiate

funds balancing entries Workflow will remain outside of

FI$Cal

Asset Management


Transfer Assets



Asset Management


Department business processes around Transfer Assets will change as follows: [ENTER CHANGE IN BUSINESS PROCESS] [ENTER CHANGE IN BUSINESS PROCESS]



Transfer Assets



Asset Management

FI$Cal End-User Role DescriptionDepartment AM Approver 1

Department user that approves Inter-Unit transfer requests. This is a workflow only role.

Department AM Approver 2

The department end user who performs a second-level review/approval for Inter-Unit transfer requests. This is a workflow only role.

DGS Asset Processor DGS user that approves and processes Inter-Unit Transfers.

DGS AM Approver

DGS user that approves Inter-Unit transfer requests. This is a workflow only role.

Receiving Department Transfer Approver

The department end user that approves the receipt of the Inter-Unit transfer.

Transfer Assets


FI$Cal End-User Training

Asset Management

Course ID Course Name Duration DeliveryFS101* Introduction to FI$Cal 4 hours WBTFS102* FI$Cal Navigation 4 hours WBTAM101 Introduction to FI$Cal Asset Management 4 hours ILTAM112 Entering and Maintaining Assets 4 hours ILTAM122 Adjusting, Transferring, and Retiring Assets 4 hours WBTAM132 Processing Depreciation and Month-End

Processing4 hours

WBT

*FS101 and FS102 are mandatory for all FI$Cal end users


For additional information on end-user training, visit the Training page of the FI$Cal Project website at :

http://fiscal.ca.gov/training-academy/index.html

FI$Cal End-User Training



fi$cal change discussion guide asset management guide march 2015

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