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IS Fixed Assets Central User Integrated System

1. 2 Click Open Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adjusting Assets ADVANCED Chapter 8 Page 20 EZ Asset Details Asset Number 95876 e lag 95876 Sie male JKIEFCE113B527733 Asset ype Parent Asset Description Warranty Number Lease Number Description a Mlin Physical Inventory Property Type Personal Ownership Property Class W450 O Bought 3 Enter the new number of units 4 Save your work NOTE If you are changing only the Units value you can go directly to the Assignments window by clicking Done However if you want to change values in other fields the Done button will change to read Continue when you tab to or click in any field other than Units 5 The Assignments window opens automatically Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adjusting Assets ADVANCED Chapter 8 Page 21 As signmerts Asset Number BRUGE Reference Number Po ere UVA FA BOOK p Transfer Date 01 JAN 2004 Comments OOOO O Unit of Measure Units ta Assign Employee Unit Change LT Mant Humber Expense Account Cancel 6 Enter the new number of units to update the distribution lines Tab to the Units field to see units change and observe the Units to Assign field change to zero 7 When the Units to Assign
2. I APR Number ME ETF Lease Year Sponsor Funding Award O Condition Code 10 j Good ren Gate a ine Bea Old Tag Number We Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Mass Additions Chapter 5 Page 23 Mass Additions Preparing Mass Additions to Become Assets 6 Key or select required additional information in the Asset Category Descriptive Flexfield DFF REF 3500U shown in the preceding screen shot Note Responsible Org is a REQUIRED field Assignments TE Cor a aam an Ta fee SSignments Invoice Number 8345800 Line Number E Book UVAFABOOK Total Writs ss Distribution Set i a any ae eu i E Show Merged Distributions Units Assigned 1 Units Remaining 0 Distributions a From scanner Employee Employee REUE Mumber Expense Account Location 1 Click the Assignments button on the Mass Additions screen Enter the asset unit for the first assignment in the unit change box Note the Units to Assign box keeps track of the units remaining to be assigned Fractional units can be assigned 2 Select the name or employee number of the person responsible for the asset from LOV 3 Enter the expense account The account can be selected from the LOV It is important to select the appropriate project and organization when completing the account The object code defaults to Depreciation expense Note The Clear
3. Major category Denotes class of asset such as building moveable equipment vehicles Minor category Denotes the type of asset such as microscope laser Manual Additional information about an asset and such as equipment trust fund reference information Scanner numbers responsible organization sponsor funding award number inventory taker Some of the information will come from the UVA Mass Additions report Manual _ This is the individual assigned to the and equipment and must be an active Scanner employee Individual may be the principal investigator or fiscal administrator Manual For equipment this will be the clearing GL string with the object code changed to depreciation expense 8585 For buildings the expense account will use default values and a specific object code based on the major asset category Location Yes The values for building floor and room are from Facilities Management space information system The city and state values default to Charlottesville and VA Location values are validated PTAEO Defaults Automatic Invoice and purchasing information defaults from Accounts Payable The Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Mass Additions Chapter 5 Page 15 Effective 5 3 04 PTAO is automatically posted from the invoice distribution line using the UVA PTAO Transfer Program a nightly process As Most descriptive informa
4. 6 3 Normal a Ley 5 Hold Request View Details view Output Cancel Request Diagnostics View Log 6 Click anywhere in the line displaying your request number Then click View Output UNIVERS ITYOF VIRGINIA Mass Transfers Preview Report Report Date 1 Mass Transaction Number 921 Fage Book UWA Fa EBOOK Category Lasset Number Description From To GL Number Location 93211 COMPUTER LAPTOP Fror 20 112050 2040 8585 30045 0000 3656 1 00112 Charlottesyille Va INSPIRON 000g To 20 112050 2040 8585 30045 0000 93212 PROJECTOR Fror 20 113300 2040 868585 30045 0000 3656 1 00112 Ccharlottesvyille Va 000g To 20 113300 2040 855685 30045 0000 96056 ARMOIRE EMPIRE 66 From 10 101779 1115 8585 50045 0000 2032 0 00000 Charlottesyille Va 24 D xX 39 H 000g To 10 101779 1115 8585 30045 0000 96089 TAELE AMERICAN EMPIRE From 10 101779 1115 8585 30045 0000 2032 0 00000 Charlottesvyille V a RATLTMORE FATATE COLLECTION S nanan 7 Output for a single transaction will look like the preceding screen shot 8 To perform the Mass Transfer query the mass transaction number and click Run IS Assets submits a concurrent process to perform the transfer 9 Query the concurrent process in the View Requests form to check the status Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Transferring Assets Chapter 9 Page 8 Recording Prior Period Transfers
5. D UU 56 926 94 0 00 581 83 ee ee Ee ee A __ C ss ee E EE a A ee _ ee _ ae Ss 4 Click the Lines button R ETA Description Task Tiss Root jisosuvac CIP CONSTRUCTION i isos vac REVERSAL CIP CONS isps Structure CIP CONSTRUCTION l ISDS Structure REVERSAL CIP CONS TESS SVCS ARCH amp ENGR 2 581 83 28 463 47 28 463 47 28 463 47 28 463 47 0 00 TILL M massinn cons TRUCTION u Additional Line Information Original Amount CIP Account 10 103688 5110 6260 31600 0000 split Percentage a Status Rejection Reason es OED ll 5 Ifthe amount of the asset line is to be split between two asset categories click the Split button Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 31 et Line 41000 Rector Board of Visitors SVCS ARCH amp ENGR i X an Split A Ss Task Number ee Task Name Pr s Asset Mame Armount Unassigned Total 6 Select the asset name using Ctrl L the LOV will not work on this screen that will be assigned to the asset line Record the amount or percent for each line 7 Click the OK button when you have completed assigning the costs for that asset line 8 Save your work and close the form The assigned lines are ready to be sent to Fixed Assets Sending Lines to
6. Name Position Email Phone General Questions or Requests property virginia edu Angy Seago ETF Coordinator seago virginia edu 924 4323 John Wallace Smith Property Specialist jaw3b virginia edu 924 0805 Mark Havill Property Inventory Specialist mkh8g virginia edu 924 4209 Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Fixed Assets Central Department User Chapter 1 Page 11 Information Available Equipment information is organized into three major groups e Descriptive consists of asset description serial number model number asset tag number and other information that describes the asset If the equipment item was funded from ETF the SCHEV reference number APR number and lease year can also be found e Assignment displays the name of the UVA employee responsible for the equipment for example a principal investigator or fiscal administrator and the location The responsible person must be a current employee The Location FlexField breaks down the asset s location into five segments building floor room city and state Building floor and room numbers are the same as those found in the Facilities Management Space Inventory System e Financial includes the original cost current cost reflects any added costs the date the asset was placed in service and depreciation taken on the asset If the asset was purchased you can view informa
7. Wass Additions Summary celelelelececr rrr line Queue Description SPLIT GPS EQUIPMENT ACA HOLD AUTOMATIC TUNING ELEMEN ACA HOLD GPS EQUIPMENT ACA HOLD GPS EQUIPMENT ACA HOLD HOLDING SYSTEM oes i E r Fa on i wo on Slr b gt bl we Ei Si HTE SULLY 1 f iil i J i ii i l i si f i i Undo Split Add to Asset 2 Export the Mass Additions Summary window data to an Excel spreadsheet Determine all the outstanding Assets in the mass additions table to be reconciled with the Asset Clearing Object Code Oracle Discoverer Asset Clearing Account Recon Report Detail _DIS p File Edit View Sheet Format Tools Graph Window Help lej x asHba Anna d anu x raa l a E Asset Clearing Account Recon report Detail Page Items Object Code 1750 v Je Batch Name Je Name Je Description Per 1 CTG Gift of Equipment Test Gift of equipment cash report test Nov 2 Oracle Assets UVA Addition UVA FA BOOK Nov 02 UVA Addition UVA Addition 30 NO Y 2002 00 00 00 Nov EE Sheet 1 IK gt For Help press F1 INUM 5 3 Run the detail Discoverer Report Asset Clearing Account Recon Report Detail DIS This report will give the Journal detail with JE Source and Category This report will be helpful to identify the outstanding clearing account Object Codes 4 Once the Object codes are matched from Step 1 and Step 3 use Cost transfers Jour
8. Books Asset Number Reference Number Book Comments Financial Information Current Cost ii YTO Depreciation E Original Cost 450 00 Accumulated Depreciation Nam salvage Value Type Am ount value Percent value Recoverable Cost 450 00 Revaluation Ceiling Net Book Value 450 01 Revaluation Res Depreciation Limit and Ceiling Group Asset Advanced Rules Short Fisc p oeno _ 4 Depreci ate Method STL Date in Senice 01JAN2004 Life Years 5 Le Prorate Convention EC ONV Months o Prorate Date 01JAN 2004 Amo tization Start Date Bonus Rule M Amoriz e Adjustm ent Unplanned Depreciation f Cancel Books 1 Inthe Asset Workbench find the asset for which you want to update financial information 2 Click Books 3 Select the book to which the asset belongs 4 Do not select Amortize Adjustment UVA does not amortize adjustments 5 You can change the asset s life date placed in service and cost The cost should only be changed after consulting with the Property Accounting Manager Accounting entries will be needed to adjust the GL costs and keep the GL in balance with Fixed Assets 6 Save your work Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adjusting Assets ADVANCED Chapter 8 Page 28 Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adjusting Assets ADVAN
9. Capital Projects Chapter 6 Page 20 Sec NEV SERVICES vice Actual 01 AUG 2004 Froject Asset Type 01 AUG 2004 01 AUG 2004 s Asset Description k Asset Date Units Asset Number Copy Asset Assignments 7 OK Copy Asset Select OK after you have added the required information Asset Name Date and Units Review the copied information and make any changes needed Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 21 New Plumbing As Built o1 AUG 2004 01 AUG 2004 As Built 01 AUG 2004 01 AUG 2004 i 01 AUG 200401 AUG 2004 l SEES As Bui O owa Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 22 Capitalizing Setting Capital Project for Common Tasks Grants Management N gt Setup Projects Project Templates Find Projects IMPORTANT This step is needed only if the capital project template s asset assignment grouping level has not been set to Common Tasks All capital projects should have this option selected If the option is not selected then asset lines will note be generated This step requires use of the GM Setup menu which is not available to holders of the UVA FA Plant Funds Manager or the UVA FA Admi
10. Creating Construction Related Assets From Non Capital Projects When construction activity is not charged to a capital project the individual cost transfer transactions must be identified Each cost transfer must be changed to a CIP expenditure type to have the transactions recorded to the CIP asset clearing accounts The adjusting cost transfers will debit the CIP expenditure types and credit the original expenditure types The cost transfers will be pushed to the mass additions table using ADI s cost transfer process They can be added to Fixed Assets as a CIP asset and capitalized at a later date similar to fabricated assets See the separate manual ADI for Fixed Assets for details on creating and uploading cost transfers to Fixed Assets using ADI See Chapter 7 of this manual for more information on processing Fabricated Assets If there is more than one cost transfer one cost transfer should be posted to Fixed Assets and then the other cost transfers can be added to the initial posted asset If the asset is ready to be placed in service it can be added as a capitalized asset Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 4 Tracking Capital Projects in Grants Management Tracking Capital Projects in Grants Management Run interface to Oracle Assets L Program Using Grants Management to Track Capital Proje
11. Location value s click in either field then press Ctrl L Eee Accounting Flesfield o oeoe Entity UVA State mee 101902 F UHR Human Resources Fund Source Current Funds Unrestricted State E amp G Fund Object Code 8585 Equipment Depreciation Expense Organization Palieil Fl Human Resources Future HIII Future ew Location Flextield Building Emmet Street 914 Floor Mone or Basement Eadra LIL Eii Charlottesville Charlottesville State Virginia Foture OOOO Default aleon D Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Viewing Asset Information Chapter 4 Page 9 Source Lines e p __ Project Details 5 From the Assets screen in step 3 click the button Source Lines for information on the invoice purchase order supplier and amount For purchased assets each invoice line that paid for the asset is listed separately and shows the invoice number and amount along with the vendor and PO number You can view the PTAEO that was charged by clicking in the DFF box You can view the invoice or PO through the AP or PO modules Note When the Project Details button is active you can click it to view related entries from capital projects from Grants Management tables Project Details Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserv
12. Preparing Mass Additions to Become Assets e If you change the cost of a mass addition the adjustment amount will be charged to the clearing account for the category The original amount clears from the payables clearing account that was specified in the Mass Additions workbench IMPORTANT e Fixed Assets creates no journal entries for deleted mass additions and does not clear the asset clearing accounts credited to Accounts Payable You must clear the accounts by either reversing the invoice in your payables system or creating manual journal entries in General Ledger Changing Asset Information Changing Asset Information Changeable Items Category Employee Expense Account v Depreciation Expense Need 5 Company o7 M Region vehicle ownstd Simon Wang Cost Center Account Location Source Region Asset Depreciation Region a J DE Si Paris Supplier Cost Units Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Mass Additions Chapter 5 Page 14 Entering Asset Information Entry Field Name Required Type Action Yes Manual Category Enter appropriate category based on ownership and type of asset The category segments are as follows Ownership Indicates whether it is a UVA UVA Wise or SWVHEC asset It also indicates whether the asset is owned government furnished GFE government purchased GOVP or other owned
13. Recording a Prior Period Transfer Scenario In Year 3 Quarter 4 you realize that an asset was moved between PTAOs 100 and 200 in Year 3 Quarter 3 e Cost is 4 000 depreciation method is straight line and life is four years e Enter a prior period transfer for the asset Single Asset Transfer Journal Entries Fixed Assets creates the following journal entries for the asset transfer and current period depreciation expense Transferring the Asset Asset Cost PTAO 200 4 000 DR Asset Cost PTAO 100 4 000 CR Recording Current Depreciation Depreciation Expense PTAO 200 250 DR Depreciation Expense adjustment PTAO 200 250 CR Accumulated Depreciation PTAO 100 2 750 DR Depreciation Expense adjustment PTAO 100 250 CR Accumulated Depreciation PTAO 200 3 000 CR Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Transferring Assets Chapter 9 Page 9 Recording Prior Period Transfers Do not create adjusting journal entries for a current period transfer Such a transaction simply transfers the cost and accumulated depreciation from the old account to the new account and creates entries for the current period s depreciation Single Asset Transfer Depreciation Trend Period Asset Accumulated Year to Depreciation Year Quarter Cost Depreciation Date Expense a mow OO O Year 2 4 000 4 000 4 000 4 000 F FL FG FGI FP F FAJI P RHR KH Ge TA GA AA G
14. Reverse and recapitalize assets in Grants Management Use the Mass Additions process to add a CIP Capital Project asset from Grants Management Using Grants Management to Build CIP Assets Fixed Assets integrates with Purchase Order Accounts Payable and Grants Management to process capital projects You enter the asset information in the Capital Projects window to define capital assets in Grants Management You place a CIP asset in service by capitalizing its cost generating asset lines assigning lines to assets and sending these lines to Fixed Assets by running the Interface Assets process You reverse asset capitalization before depreciation in Grants Management and after depreciation in Fixed Assets You use the Mass Additions process to enter more asset information and to review and post the mass addition lines Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 49 Adding CIP and Fabricated Assets Chapter 7 Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adding CIP and Fabricated Assets Chapter 7 Page 1 Adding CIP and Fabricated Assets Section Objectives At the end of this section you should be able to e Create a CIP asset manually from invoice lines in Mass Additions e Add an invoice line to an existing CIP asset in IS Assets e
15. Transferring an Asset You transfer an asset when there are changes in asset assignments to help you maintain accurate asset inventory You use the Assignments window in the Asset Workbench to transfer assets from one assignment to another within a corporate book You use the Find Assets window of the Inquiry form to query the assignment information You will change the depreciation account when the asset s Project or Organization has been changed because of a cost transfer You transfer assets between the following e Expense accounts add new Project Fund Source and or Organization e locations e Employees You cannot backdate a transfer to a previous fiscal year Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Transferring Assets Chapter 9 Page 3 Assets Transferring IS Assets N gt Assets Asset Workbench B Assignments Assignments AS signmerits ASSE ae Mateta 50005 Reference Number sie UVA FA BOOK Transfer Date Distribution Set Unit of Measure Total Units 1 Units to Assign C k Change Em pinyee Units Mame Number Expense Account Location 1m 1 f Gatlin Richard 146571 20 101468 1120 7515 20060 0000 0055 100100 marenea Lil a S S O OOO J J T S iy S a J J J eS a a es 2 i es ee ee ee Cancel Assignments 1 Inthe Asset Workbench window select the asset that you want to transfer between employees ex
16. reer alii y IVERSITY RGINIA IS Fixed Assets Central User Training Guide Integrated System Table of Contents Fixed Assets Central Department User eeeeecccccccceccececeeeccescecccceoceccosecosocececcccccccccccccccccccceccecececeeessessssssssse 1 1 PAC emiral Department Useren oss wltuaa nals an a a eae E 2 Pixed Assets Contal Deparment SCP vo sss acroepectondousaadennnen dandad anouespeatancdeoauahenoancenassarmebentandouseaicopelnansanauiions 1 3 Central Onmice Responsi Dili ties yc mn sncsnoouteocasansstasdivasantcohendenceneooaainiatandsaanstecebsndne seueadesnaimineatautasinanenomadaweniileias 1 5 Property Contact RESponsiDi ties mirigitan iE ET NEEE 1 6 Roleror the PrOD ODACI 4 taacntinodsasson sends E E sandevas ocneupendanceteosen odeaauenomnawiinus 1 7 Annual University Mev el REDONS aicivovisrsmssozenamespectoasenso vanes vmssadsananespeataanwiencseansaresnsdeaameipechoaneneensteansnemenaudis 1 8 Men CLOT Y ETOC e E E weusuacnwopendanceadeneoedequnsnommauiincs 1 9 Addine and Deleine BE GUI PME A aerie E E 1 10 Property Contact Policies and ASSIStANC E 202 1encnssancashinesesaustanseetaaan piers at binhneeraeniiensaitiantebsauniacs taneeeeeeniats 1 11 IOa non Avaa D ies to natncnoncnecescaaconecuersscnnnctenmeenstanteaces eG eeees enhance numeuustanencee leaner cnhimesrumemetantemreelmemesins 1 12 Vile Wilko ANC INC DOLUIIO 15 18 ene nasosnestapeecasaasieen mans ae EN yee saunas ated es costae A eesncus 1
17. 1 Open the Capitalize CIP Assets window Find the capitalized assets by using an Asset Type of Capitalized in the Find window IS Assets displays only assets added or capitalized during the current open period 2 Select the corresponding check boxes to select the asset s that you want to reverse 3 Click Reverse Note Reverse capitalization only in the period of capitalization before depreciation was run in the capitalization period and if no transactions were performed on it Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adding CIP and Fabricated Assets Chapter 7 Page 11 Listing CIP Reports Using CIP Reports cL Reports Running Reports e View or print the following reports after adding CIP assets Capitalizations Report e CIP Assets Report e CIP Capitalizations Report e Cost and CIP Detail and Summary reports Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Adding CIP and Fabricated Assets Chapter 7 Page 12 Effective 5 3 04 Summary You should now be able to do the following e Create a CIP asset from invoice lines e Add an invoice line to an existing CIP asset in IS Assets e Capitalize and reverse capitalize a CIP asset Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adding CIP and Fabricated
18. 4 Specify the amount for the sale proceeds and the removal cost These amounts will be split among the eligible assets and prorated by cost Note Generally proceeds and cost of removal will not be recorded in Fixed Assets 5 In the Retirements region use the Asset Type pop up list to to retire CIP Capitalized or Expensed assets Select the blank option to retire all Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Retiring Assets Chapter 11 Page 30 6 Enter values for the other fields in the Retirements region to supply selection criteria for the mass retirement 7 Click Create to run and review the Mass Retirements and Exception reports 8 Click Save to save the mass retirement transaction for future submission 9 To process all pending mass retirement transactions use the Standard Request Submission to run the Calculate Gains and Losses program Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Retiring Assets Chapter 11 Page 31 Retire Reinstating a Mass Retirement IS Assets N Mass Transactions Retirements Mass Retirements Mass Retirements Book Status Retire Date Retirement Type Proceeds of Sale Units Cost of Removal Project Number Comments Task Number E Retirement Criteria 4 Criteria Asset Type Fully Reserved Yes C No e o
19. Accumulated Depreciation VEHICLE LEASED 250 Accumulated Depreciation VEHICLE OWNED STANDARD 750 Note Account changes occur only if the asset category goes from UVA or UVA Wise owned to non owned or SWVHEC Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adjusting Assets ADVANCED Chapter 8 Page 16 Recording Asset Reclassification Period Asset Accumulated Year to Date Depreciation Year Quarter Cost Depreciation Depreciation Expense VEHICLE LEASED Year 1 QI i 250 Q2 250 Q3 0 Q4 0 VEHICLE OWNED STANDARD Year 1 0 0 250 250 4 000 4 000 Reclassification Depreciation Trend Fixed Assets updates the depreciation expense transfers the cost and accumulated depreciation to the new accounts lists the asset under the new category and retains the depreciation defaults Reclassification does not redefault the depreciation rules to the default rules from the new category You must manually change the depreciation rules in the Books or the Mass Change window Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adjusting Assets ADVANCED Chapter 8 Page 17 Adjusting Asset Units Adjusting Units 3 units 2 units Adjusting Asset Units e You change the number of units for the asset in the Asset Details window e You update assignment information when you chang
20. Donna Hall HVAC 31 MAY 2002 50 000 00 Donna Hall Structure 31 MAY2002 31 MmAY2002 100 000 00 i i f i 7 7 7 Reverse Asset Lines Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 35 3 Click the Reverse box es for the asset lines you wish to reverse Then click the Reverse button Note Asset must be posted before it can be reversed 4 Fixed Assets generates the lines required with the appropriate debits and credits 5 Click the Generate button shown on the screen shot in step 2 The program automatically sends the lines to the Fixed Assets Mass Addition table 6 Goto Find Assets prepare Mass Additions and add the reversed lines negative amounts to the assets in Fixed Assets You can retire the zero cost asset if it will not be capitalized at a later date Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 36 Recording Capital Projects Asset Additions Facilities Management Purchases AP gt Dr Fac Mgt Clearing Acct Cr Liability Facilities Management Cost Transfers GM gt Dr CIP Clearing Acct For all Capital Projects Cr Fac Mgt Clearing Acct Asset Placed in Service FA gt Dr Asset Cost Acct Cr CIP Clearing Acct Revised 4 6 05 Copyright 2004 Uni
21. Financial Infonnation Adjustment l noice Line Unplanned Addition Depreciation Changing Asset Units and Information Process Description Reclassification Changing the category of an asset Unit adjustment Changing the number of units for an asset Financial information Correcting an error or updating financial information for an adjustment asset Unplanned Adding extra depreciation due to unforeseen circumstances depreciation Invoice line addition Adding an invoice line to an existing asset as a cost adjustment using Mass Additions or adding an invoice line manually to a CIP asset Transferring invoice lines between assets Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Managing Assets Introduction Chapter 2 Page 8 Transferring Single or Group of Assets Transferring an Asset Depreciation eneral Leager Number eneral Leager Number General Ledger Number Expense Accounts General Ledger Number Company 03 Region Company 03 Region Cost Center 300_ Account 3000 Product SubAcct Cost Center 300_ Account 3000 Product SubAcct Locations FR GV PA BLDG3 Charles Ackroyd Employees Sandy Chen Employee 33 i l Employee 117 R f e You can assign and transfer assets to several employees locations and General Ledger accounts e You can transfer all or part of an asset e You can backdate a transfer
22. Recordin Capital Projects Asset Addin Seen a hese me Ueeutedu eamwnit a a 6 37 Mass Additions Prepate tor Capital Projects a sist ssetsustvetuctdeosuatadvetunestaiva a a E N 6 38 Capitalizing Quick Addition for Adding a Parent Capital Project Asset ccccccccccccccsssssseeeseeseeeeeeees 6 45 SOUT ae a anata vena ant a eet ase Sala aac a a eas 6 49 Adding CIP and Fabricated ASS ts ssisssecsscssssccassessscisavsdsccsdsscentssucascsadesancssssadaceuevencusciddevdessactessedacssstuasecscisesias 7 1 Adding CHP and Pabrmeated sASSCtS merses e i enlate duce ars E E E E Ea aE 7 2 Bee g s Gone oe eer Rem en een Oe Ey OO ee CE ee eT Te ee eee ee ee ee ene nee eer eee 7 3 Modify me TP AASSCLS COS Sic etalon e E E e E O jek atin 7 5 Capitalizing Adding Invoice Lines to Fabricated ASsets cccccccccccssssssssesseseeeccceeeeeeeesaeassseesseeeeeeeeeees 7 6 Capitalizing C apitalizins PAbriCated ASSE ani a a a a a A a a 7 9 Capitalizing Reyers ine the Fabricated Assen ha r a a a a a a a 7 11 Entos CEROS ar a a R E A E O ens 7 12 SUMA Y eo a e a a a a a a a a a a alban 7 13 Ad ustin ASsets ADVANCED yiccs c csr csseccevacensceecusnsesaseusucusesdaves NE E 8 1 Adjusting Assets ADVANCED 5 0 cdustsie duastabnacetarhe ub icuatase lucie tanditeuectuntd vescansieeduattwenadserbucuseroeaceetext utes 8 2 FNC OS CAS NAS SC sca lg oat e aid EO E AEE E e 8 3 PREC LASSE yn A GSC 1S oo isen ase teins tetera wees AE een outta EEEa ten E EEO EERE ENE
23. SPCCILyING Assets Dale Placed 1M SEL VICE varsien EEEE 3 14 Recording Asser Addio S eaen oiin chendesgensduohenaadadsauaunapiatancsdonesteomsarmnnsdsansnespecheadotsoostuansnemousiaiss 3 15 I e E T ET E 3 16 Viewing Asset Information esseccceseesoccccccccccecccccseccocccccccceceecccccessocecccccccceeccoseeossecccccceceeecocoeesssecccccceeeeecesesesse 4 1 Viewmne Asset Informat oN sieer raer ean EE E E a EE 4 2 View Pinaticial Information with Ingully erosen E 4 6 Standard Reports Submitting Individual Reports cccccccecccecceececeeeesesesseeeeeeeccceeeeeeeeeeaaaaeeseeeseeees 4 15 SUMA BY an a a a a a a a 4 19 Mass Addition S sss se aeaaeae eei arao sewestsccuseunsdaewscandcasooesdaaeeses oop Aeae Enas EE EAER Eor On Kaai 5 1 Mass A CIGITIONG 2532508 aot Seacecdcneset cccencen N cokenaceds a a E E at cae caatedcmeucc A E E E 5 2 Add Assets from Invoice Distribution Lines siccucees cies hee ceed nen eds esas one eee eS 5 3 Using Mass Additions Interface x i ecdsc sis ceenanicas ceakenacs chdasctes a lan aes a a sak e a 5 4 Using Mass Additions Interface Table niiina e a a a E aie 5 5 UVA Mass Additions Reports to Prepare Asset Lines cccccccccccccccccceeesseeeseeeeeeceeeeeeeeeeseaaaaasaneseeseeeeeess 5 6 UVA Mass Additions RENON e a a a uence a ast a a a Mion 5 7 sine Cre ate Mass Addio ecaa st aus a a a a a 5 8 Usm the Mass Additions Proces 6 a a a a a a a a a 5 10 Mass 2 6 6 118 C6 1 uinea ee e a eee 5 11
24. and the General Ledger modules Purchase orders and invoices coded with the equipment Expenditure Types that include Eq Capital in the description are sent to the Fixed Assets Module Property Accounting the Fixed Asset system owner reviews invoice information tags items collects additional information not included on the invoice then adds items to the IS Fixed Assets module Gifts of equipment and loaned equipment from federal sponsors of research are also recorded in the Fixed Assets module The University depreciates all its fixed assets and reports them in its Annual Financial Statements Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Fixed Assets Central Department User Chapter 1 Page 3 Fixed Assets Central Department User Chapter 1 Property Accounting inventories capitalized equipment every two years and retires equipment from the Fixed Asset system when it is ready for disposal Importance of Correct Expenditure Type Departmental Property Contacts FA Viewers may or may not also have the IS responsibility for departmental purchasing Those who do have PO Purchaser or PO Requester responsibilities must understand the critical importance of selecting the correct PTAEO Expenditure Type value to categorize their equipment purchases The Expenditure Type E segment of PTAEO assigned to a piece of equipment is the core data element for fixed asset r
25. review and update any journal entries in the Journals window l Use the Find Journals window to query for the journal Note In General Ledger the Batch name field and the Journal name field are not necessarily the same depending on whether the journal was created manually or by the system Editing the journal name field does not change the batch name field It is best NOT to change either of these names If you must change the journal name manually use UVA s General Ledger naming convention REF3002U This is to insure reliability in searching for journals in the system Search Strategy A good search strategy for finding depreciation journal entries is to key UVA Assets into the Source field of the Find Journals screen and the appropriate period in the Period field e g May 04 This will insure that your data is coming from the Fixed Assets module and will include only journal for the desired period Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Depreciating Assets ADVANCED Chapter 10 Page 11 fear New Journal TL O Review Journal pf Requery New Batch p Cf Review Batch More Actions 2 Review the journal entries for a batch in the Journals window Click the blue current record selector at the far left of the line or click the Review Journal button to open the journal Revised 4 6 05 Copyright 2004 University of Virginia and
26. 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Retiring Assets Chapter 11 Page 35 Reconciling Assets Data ADVANCED Chapter 12 Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Reconciling Assets Data ADVANCED Chapter 12 Page 1 Reconciling Assets Data ADVANCED Section Objectives At the end of this section you should be able to e Reconcile Fixed Assets to General Ledger e Use standard reports to reconcile mass additions e Identify which columns should match when reconciling various reports Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Reconciling Assets Data ADVANCED Chapter 12 Page 2 Effective 5 3 04 Overview Reconciling Data in Fixed Assets General Ledger Accounts Payable Grants Management Reconciling Assets Data e To confirm data in reports reconcile Fixed Assets to Accounts Payable and Grants Management and to non IS feeder systems e You use reports to reconcile journal entries that are sent to General Ledger Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Reconciling Assets Data ADVANCED Chapter 12 Page 3 Reconciling to the General Ledger Generating Reports to Reconcile to the General Ledger Unposted Jouma
27. Additions Preview Report e Mass Additions Delete Report e Mass Additions Create Report e Mass Additions Invoice Merge Report e Mass Additions Invoice Split Report e Mass Additions Posting Report e Mass Additions Purge Report e Mass Additions Report e Mass Additions Status Report e Unposted Mass Additions Report e UVA Mass Additions Reports Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Mass Additions Chapter 5 Page 18 Effective 5 3 04 Mass Additions Creating IS Payables N Other Requests gt Run Submit Request a Submit Re quest Run this Request bui Mass Additions Create Report pelicul s UVA FA BOOK Ee American English Ee Languages At these Times tows As Soon as Possible Upon Completion Mi oave all Output Files Submit Requests 1 Open the Submit Requests form in IS Payables 2 Choose Mass Additions Create from the Request name list of values 3 Inthe Parameters window select the LOV Ctrl L to display UVA FA BOOK and specify the latest general ledger date which is on before or after the current date 4 Click Submit to submit the concurrent request IS Payables automatically runs the Mass Additions Create Report Review a list of the mass additions created Note This will be a nightly process Also there will be a concurrent process to run the Mass Additions Report This report contains a variety of infor
28. Assets Chapter 7 Page 13 Adjusting Assets ADVANCED Chapter 8 Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adjusting Assets ADVANCED Chapter 8 Page 1 Adjusting Assets ADVANCED Section Objectives At the end of this section you should be able to e Reclassify an asset e Adjust an asset s units e Adjust the financial information for an asset e Perform a Mass Change to adjust a group of assets e Perform a Mass Reclassification reclassify a group of assets Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adjusting Assets ADVANCED Chapter 8 Page 2 Adjusting an Asset Adjusting Assets Reclassification Financial Adi i lt ustments M han information J ote ar e Error correction e Mass depreciation e Reserve adjustment e Unplanned depreciation e Invoice addition e Revaluation Unit adjustment You adjust an asset by reclassifying changing the number of units adjusting the financial information or performing a mass change These adjustments are automatically reflected in the asset book Reclassifying an Asset You assign an asset to a new category in the Asset Details window to update information correct data entry errors and consolidate categories Adjusting Asset Units You change the number of units for an asset in the Asset Details window to update th
29. Corporation All rights reserved Effective 5 3 04 Fixed Assets Central Department User Chapter 1 Page 1 FA Central Department User Section Objectives At the end of this section you should e Understand the UVA definition of a fixed asset e Understand the importance of charging fixed assets to the correct Expenditure Type e Understand the role of the Central Property Accounting Office in maintaining fixed assets e Understand the role of the Property Contact in maintaining fixed assets e Know how to obtain fixed assets information using Discoverer reports Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Fixed Assets Central Department User Chapter 1 Page 2 Fixed Assets Central Department User Chapter 1 Fixed Asset Definition A fixed asset is an item that has a useful life of more than one year and a unit cost of more than 5 000 The FA Central Department User manual refers to fixed assets and equipment interchangeably System Overview ntegrated System Interfaces amp Data Flow f Fixed Assets G3 Main Menu a Sal Invoice i Asset Lines FA i End af month Journal Entries for Fixed Assets additions reclassifications retirements depreciation Cost transfers far equipment gt 2K The Fixed Assets module is integrated with the Purchasing and Accounts Payable Grants Management Human Resources
30. Fixed Assets IS Assets N Other Requests gt Run Submit Request 1 Select PRC Interface Assets process in the Submit Requests window 2 Enter the project or project range and the in service date up to which you want to process capitalized costs 3 Click Submit to start the process and run the Interface Assets Report Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 32 Reversing and Capitalizing Reversing and Recapitalizing in Projects Reverse capitalize Recapitalize Balance Sheet Assets Building i gt B Date placed in service Reversing Capitalization in Grants Management Before Depreciation Begins e To reverse the asset capitalization in Grants Management click the Reverse button in the Capital Projects window and send the reversed line as an adjustment to Fixed Assets Note Original asset must be posted e Grants Management creates reversing negative asset lines to offset the lines previously sent to Fixed Assets The asset remains in Assets with a value of zero e Retire the asset in Fixed Assets if you will not recapitalize the reversed asset Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 33 Capitalizing Reversing Capital Assets IS Ass
31. Interface Assets Run Interface Assets to send asset lines to Fixed Assets to become fixed assets e The process creates one mass addition line in Fixed Assets for each asset line in Grants Management assigning the information that you entered for the CIP asset in Projects to the mass addition line in Assets e If you are sending cost adjustments for an asset from Grants Management to Fixed Assets ensure that the original mass addition was posted in Assets e If the mass addition has not become an asset the Interface Assets process rejects the adjustment line Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 28 Capitalizing Generating Asset Lines IS Assets N gt Other Requests gt Run Submit Request Capital Projects N gt Capital Projects Find Capital Projects REMINDER Though you are logged in as UVA FA Plant Funds Manager you have menu choices under Capital Projects that give you access to screens in Grants Management The steps you complete below are accomplished in the Grants Management module eo Md Ca pital F rojects cal O00 Rector Baard of visito rS Project Key Member T O O o e g THA Mame AS Studio Art Construct Role Type Organization Classification Estimated Date Placed In Service ctl a Actual Date Placed In Serice fc OOo Generate from Grants
32. Key O l Warranty Number Asset Type OoOo QuickAdditions fail DS F A Bie Bi il A E Guic kAdditions Subcomp onents Eetire ments Source Lines Assignments 7 Click the Books button Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 47 Asset Number 555333 Reference Mumber Book Comments Financial Information Current Cost 0a YTO Depreciation Original Cost J 0 0 Accumulated Depreciation Salvage Value Type Amount salvage Value Percent value Recoverable Cost f I Revaluation Ceiling Met Book Value f 0 I Revaluation Reserve Amortization Start Date Bonus Rule Amortize Adjustment Unpla nned De pr eciation 8 Click the Depreciate box to deselect depreciation NOTE The Depreciate box is selected by the system when the asset is posted It must be manually deselected 9 Save your work and close the form Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 48 Summary You should now be able to do the following Discuss the capital projects flow integrating with Fixed Assets Define capital assets in Grants Management Place a CIP Capital Project asset in service by capitalizing its cost generating asset lines and sending these lines to Fixed Assets
33. LOV icon in the Name field Double click the report you want from the list SE Submit Request Run this Request Lele Asset Additions Report Parameters Pe o_O E American English l zW UVA FA BOOK UVA FIXED ASSETS BOOK Set of Books Currenc y usb O LI niversity at Virginia From Period S ep 03 To Period Oct 03 4 ur cul Cel Lal Del Lal Cal Cul Dar per Dae Dal ul ul Cul Cor Cor i OK Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Viewing Asset Information Chapter 4 Page 17 5 Fill in the Parameters window then click OK Note Some reports do not have parameters zE ubrit R eque st Run this Request Elie Asset Ad litions Report policies UVA FA BOOK USD Sep03 0ct03 Language American English At these Times Run the Job SO HS I Tr IRIS IIS OTs si eerie Upon Completion Motify Print to Note If you want to schedule the report to run at a later time or change the completion options you may click Schedule or Options to make those changes 7 Click the Options button to specify the printer print style and the number of copies to print 8 Click Submit to start the request Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Viewing Asset Information Chapter 4 Page 18 Summary You should now be able to do t
34. Mass Additions Chapter 5 Page 21 Mass Additions Preparing Mass Additions to Become Assets Guede Transaction Type Transaction Date Invoice Mumber 8 15800 l Line Mumber Category Group Asset Employee Mame Employee Number Expense Account Location SY OE la eae ayia JUL 2003 Denreciate i 3 356 40 Source Supplier Name Supplier Number PO Number Source Batch Task Number Create Date enue fue stone EC sana MELEE Comments Project Details Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Mass Additions Chapter 5 Page 22 Note Purchasing PO and Accounts Payable AP information is imported to display by default on this screen 4 Enter or edit the description of the asset Using mixed case initial capitals place the noun first and separate the descriptive word s with commas EXAMPLE Microscope Electron 5 Choose the Asset Category from the appropriate LOVs Insure the appropriate ownership category 1s selected based on whether or not the item is owned or not owned Indicate who is the responsible entity UVA UVA at Wise or SWVHEC UVA Assets are classified as either UVA owned Government furnished GFE Government purchased GOVP Non owned other UVA at Wise has similar ownership categories EAs 5 set C B ategary Responsible Org mi MD CELL Cell Biology SCHE Number
35. Oracle Corporation All rights reserved Effective 5 3 04 Depreciating Assets ADVANCED Chapter 10 Page 12 Depreciation Viewing Depreciation Information IS Assets N gt Inquiry gt Financial Information B gt Find B Books View Financial Information View Financial Information DES 01543 11 51 561 0000 0163902 0163902 11 51 533 0000 01796 RACK ELECTRONIC COMPO 01796 _111 51 533 0000 11 51 533 0000 a 01878 11 51 533 0000 01938 MICROSCOPE BINOC INVER 019 11 51 555 0000 10202 OLSSON HALL 11414100000 10203 ALBERT H SMALL BUILDING 1141 410 0000 r RF F EF F L213 S S 3 S S 3 ea Assignments Source Lines 1 Inthe Find Assets window select the asset for which you want depreciation information Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Depreciating Assets ADVANCED Chapter 10 Page 13 See View Financial Information 01543 eiere e ee e e ee e e e e e ete e ete eere Recovyerable Cost 2 010 02 Original Cost p 2 010 02 Depr Ceiling salvage Value Revaluation Ceiling Mi lnvestrent Tax Credit Revaluation Reserve Depreciate Capacity ECR 19 JAN 1974 YTD Production Frorate Convention f EQUIP CONV LTD Production Prorate Date 01 JAN 1974 Life End Date Method STL l Basic Rate Lite Years 10 Months 0 Adjusted Rate Remaining Lite Years 0 Months E Bonus Rule YTD
36. Payables Detail Report in General Ledger to reconcile asset additions imported into General Ledger from Accounts Payable To run this report install Accounts Payable on the system and allow detail posting of invoices from Accounts Payable to General Ledger Note Property Accounting uses their ERP report to determine all transactions that are recorded in GM have been sent to the Mass Additions table e Use the General Ledger Report in General Ledger to list beginning and ending account balances and all journal entry lines affecting each account balance in the functional and foreign currencies Use this report to review journal information and to trace each transaction back to its original source e Match the ending balance of the Cost Summary Report with the Cost Detail Report e Match the ending balance of the CIP Summary Report with CIP Detail Report e Match the ending balance of the Reserve Summary Report with the Reserve Detail Report Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Reconciling Assets Data ADVANCED Chapter 12 Page 7 Reconciling Asset Cost Accounts Reconciling Asset Cost Accounts Cost Summary Report Ending balance subtotals Cost Detail Report Additions Adjustments Retirements Reclasses Transfers matches matches matches matches matches Cost Cost retired cdst Asset Asset Asset Aes Transfer Additions Retirements ep Reconcil
37. Prepanne Mass Additions to Become ASsets aierua a a a dvanbaia eis Sacenetoreaouans 5 12 Ennn Asse Informilo me a a a enna eas 5 15 Postno Mee ACG10 ONS eierne A E AE 5 17 Lasting Mass AGC OnS REPONS seni a a a iengensuetaamouedeaeniones 5 18 Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Fixed Assets Central Department User Table of Contents Mass Additions A Crean E anera E ETE AEAT EEEE 5 19 Mass Additions Preparing Mass Additions to Become Assets cccscccecceeeeeeeeceaeeseesseeseeeeeeeeeeeeeeeaaas 5 21 Mass Additions Adding to an Existing ASS t ccccccccccccccccccceeeeeseeeseseeeccceeeeeeeesaaaaessusseeeeeeeeeseeseeeaaags 5 27 Merging and Splitting Fractional Quantities from AP ccccccccccccccccceeeeeeseeseesseeeceeeeeeeeeeeeaeaaaaaeesseeseseeeess 5 30 Mers meand SO MUNG sesse ENEAN ST 5 31 Mass Additions Mersine Asset Line Sarera o e e E uss ies elon N E E 5 33 Mass Additions Splitting Mass Additions Lines ccccccccccccccssssssessseeeeeeceeeeeeeeeeaeaseeesssseseeeeeeeeeeeeeaaas 5 38 Mass Addhinons Delete eiennenn peices seiccteet a denc cose neice eae e pace aoe ceed eae ere 5 41 LiStin Ge Asset Addition REPORTS es seere ann e aeea EE steed uae EA Mines aloud elects 5 44 SLETTEN OT i AET EEE EE A E EE ae a an REET E EEEE E NE E EEE DE E E EE A EEE T 5 45 GC ADICAL IE FOICCES E A E A E A E E E T A A E R 6 1 Capral Pr
38. Structure os ae fe a ee Le ee So foo Ee 2 ci ce amp 8 B E a i L LE 7 ia Note The Depreciate box should be checked unless the asset will not be depreciated 11 Select the depreciation expense account from the flexfield s LOVs Building related assets will generally use the specific Project and Fund Source for the expense account The assignment should be split based on the prorated charge of the Fund Sources There is a unique Object Code for depreciation based on the Asset Major Category Note Only one expense account can be added in Capital Projects After the asset has been sent to the mass additions table additional expense accounts with the appropriate fractional assignment can be added Description 12 Click the Description tab Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 17 Workbench Set of Books Currency USD Ceapa MOEH Piao ls Reuneiienl AG USinenl ASSels Description Asset Name Description NEW PLUMBING NEW ROOF NEW STRUCTURE New Roof New Structure The description will appear as the asset description in Fixed Assets 13 Save your work Open Button Open opens the following window showing detailed information created for the asset on one screen If the asset has not been capitalized you can change and enter information for the asset o
39. Ultra S i ial 1 Ir n ALLL Isle aT ITT i m 43035280 Axiovert 200 MOT 9343428 16 305 31 SERVICE FIXTURE Add to Asset hlerge Tl i lt i a a D 5 1 Open the Find Mass Additions window to find the mass addition s for the transaction that you want to undo 2 Select the merged parent s that you want to undo and click the Merge button on the Mass Additions summary screen EE Merge Mass Additions ielelelelelelelelelete corr elele rt r corr r A A al a Invoice Number Line Number 1 Units 2352 Line Amount Merged Units 2352 Total Merged Cost Sum Units Lines Merged ost 1 680 00 Freight Ine Po 1680 00 _ E 4 E C _ oj 3 Clear the Merged check box for each line that you want to undo If you want to unmerge all the lines choose Unmerge All from the Tools menu Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Mass Additions Chapter 5 Page 36 4 The queue changes to ON HOLD Save your work IS Assets changes the queue name for the unmerged lines to the original queue name before the merge Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Mass Additions Chapter 5 Page 37 Mass Additions Splitting Mass Additions Lines IS Assets N Mass Additions Prepare Mass Additions B gt Find Ma
40. User Chapter 4 Self Service Web Applications Self Service web applications are quick intuitive tools for finding Fixed Assets information You will be required to login but you can run simple queries without connecting to the Fixed Assets module Search terms and some values can be selected from LOV and run relatively quickly Standard IS Inquiry Tools IS s standard Inquiry menu tools and the Asset Workbench are also available to help you find information on individual assets or groups of assets Fixed Asset Standard Reports These are seeded or customized standard reports run from the Concurrent Request managers You find these reports by clicking Help View My Requests or by navigating to Other gt Requests Run to run the Concurrent Requests Manager Fixed Assets provides the following types of reports to maintain accurate asset inventory Accounting reports Setup data listings Asset listings Depreciation reports Construction in process CIP Responsibility reports reports Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Viewing Asset Information Chapter 4 Page 5 View Financial Information with Inquiry IS Assets N gt Inquiry Financial Information Find Assets Asset Number Description Tag Mumber Category Serial Number Asset Key Warranty Murnber Asset Type Find Information with Inquiry 1 Open the Find Assets win
41. Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Managing Assets Introduction Chapter 2 Page 1 Managing Assets Introduction Section Objectives At the end of this section you should be able to e Discuss the basic concepts of Managing Assets within Fixed Assets Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Managing Assets Introduction Chapter 2 Page 2 Overview Maintaining Fixed Assets Additions Mass amp Manual E Adjustment SE SE Adding Assets Transaction Description Manual Adding assets using Detail Additions addition Mass Addition Adding assets from invoice lines Adjustment Reclassifying an asset from one category to another adjusting the number of units or financial information Transfer Transferring asset information between expense accounts locations and employees Special Entering unplanned depreciation to adjust an asset s net adjustment book value and revaluing assets during economic fluctuations Depreciation Depreciating assets using depreciation methods and creating journal entries Retirement Fully or partially retiring assets to take them out of service Online inquiry Querying financial information about assets online Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Managing Assets In
42. an asset when the vendor bills in two or more invoices You generally do not add descriptive information since the initial asset 1s in Fixed Assets Depreciation will be adjusted to the original date in service Add to Asset 1 Open the Mass Additions window 2 Find the mass addition for this transaction in the Find Mass Additions window and select the mass addition line that you are adding to an existing asset as a cost adjustment 3 Click Add to Asset 4 Find and select the destination asset to which you are adding the line Find assets by Asset Detail Assignment Source and Lease 5 Do not check the Amortize Adjustment box UVA policy is to catch up the depreciation for the addition based on the original asset s date placed in service 6 If necessary change the category and description of the existing asset to those of the mass addition For example if a network card is added after the computer itself change the existing asset to Computer Network from Computer Computer Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Mass Additions Chapter 5 Page 27 7 Press Ctrl S to save your work Note The asset clearing account s Entity Project and Organization values must be the same as the depreciation expense account of the asset which is being added to If not a separate assignment will be needed for the add to asset to reflect the Entity Pr
43. and Oracle Corporation All rights reserved Effective 5 3 04 Adjusting Assets ADVANCED Chapter 8 Page 7 Ee Asset Details re a Asset Number Bele MICROSCOPE Tag Number Enma 11 51 533 0000 40 eee iia Capitalized nits Parent Asset Description Manufacturer Model Warranty Number Lease Number Description Lessor min Use Mlin Physical Inventory Property Type Personal Ownership Property Class WAR Bought New e 7 3 From the Asset Details window click in the Category field press Ctrl L to open the Category flexfield segments fa Category Flexfield Ownership D UWA Owned Major Category Movable Equipment Minor Category Electronic AnalyzerEquipment Future Category WWI Default 4 Select the new category information from the segment LOVs Click OK Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adjusting Assets ADVANCED Chapter 8 Page 8 sset C ategory Responsible Org mmo O ME CELL Cell Biology SlHEY Number APR Number M EIF Lease Year sponsor Funding Award COO Condition Code 10 Sood Of Site Address UO once Old Tag Number ele ha TECER ER ee ee ee a 5 The Asset Category Descriptive Flexfield DFF opens automatically If necessary make changes to the DFF information then click OK 6 Click Done The status bar at the bottom left of the screen will display the Transaction Complete
44. and costs assigned to assets and interfaced to FA based on defined events UVA does not use Capital Events The Requests button appears grayed out it is not activated for UVA 2 When the search results are displayed click the Assets button Defining Capital Assets 3 Enter the asset name you are creating Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 12 File Edit View Folder Tools Window Help ORACLE Abvo zaalee 00dan 2l Set of Books Currency USD 2 awie mrojasi SSCS TZeuneiien ly AG iUSiMenl ASSES Capitalization Details Date in Service Project Asset Name Asset Type Event Num Estimated Actual NewRoof OOOO As Buit None 01 AUG 2004 01 AUG 2004 ia New Structure As Built None 01 AUG 2004 01 AUG 2004 B l i E l JJ open assign Asset Copy Asset Record 1 3 4 Inthe Project Asset Type field select As Built nc O O Ol Asset Type As Built Estimated In order to record the actual Date in Service you must select As Built for Project Asset Type If Estimate is selected for Project Asset Type you cannot enter an actual date in service and the asset is not available to assign asset lines 5 Complete estimated and actual in service dates Actual in service date can be left blank until known Asset Details 6 C
45. asset has been interfaced to Fixed Assets The Product Source and Source Reference are not used by UVA and are not available fields Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 15 Employee and Location Assignments Location Employee Employee Asset Name Location Name Number im New Puming TOI New Roof 0001 0 00000 Charlottesville VA 00 New Structure 0001 0 00000 Charlottesville VA ood E 9 Select the Location Employee tab and complete the Location FlexField as shown in the preceding screen shot Note Location is required Building number is the building where the asset is located Generally the floor and room will be zeros unless this project relates to a specific floor and or room Employee is optional and UVA generally does not assign completed projects to an employee Depreciation 10 Click the Depreciation tab Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 16 Workbench Set of Books Currency Sapia MOEG ASSELS PREMENE AUSMEES Depreciation Amortize Asset Name Depreciate Depreciation Expense Account Adjustments M 20 121702 5010 8584 99999 0000 LI Iv 20 121702 5010 8584 99999 0000 Iv 20 121702 5010 8584 99999 0000 New Roof New
46. be the same as the fractional quantity from the invoice line This will charge the depreciation expense to the correct accounts based on the amount purchased from each PTAO The two assignments can have the same location and same responsible person Splitting is required when more than one unit is charged to the same invoice distribution For example a department bought four microscopes on one purchase order line and charged them to one distribution The invoice line will have a quantity of 4 on the mass additions table The line should be split and 4 invoice lines will be created that can be added to Fixed Assets with a quantity of one each Each line will contain the same information as the original line with 4 units Note For an asset line that will be split you should add all the common information before splitting Common information could include Asset category Assignment Expense Account Location Responsible org You cannot merge mass addition lines that are split For example if you split a mass addition line containing five units into five separate mass additions you cannot merge two of the new lines together Instead you post one of the lines to create a new asset and then add the second mass addition line to the existing asset as a cost adjustment Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Mass Additions Chapter 5 Page 30 Me
47. cabinets and similar built in equipment normally included during construction as special stationary features Eq Capital Comp Software Eq NonCapital Comp Software Equipment for the purchase of packaged or tailor made application software systems software and utility programs Eq Capital Construction Eq NonCapital Construction Equipment for air hammers backhoes bulldozers cranes graders portable generators pumps and similar equipment Eq Capital Desktop Comp Eq NonCapital Desktop Comp Equipment for stationary desktop or tower computers Eq Capital Dev Tools Purch Eq NonCapital Dev Tools Purch Equipment for purchases of software development tools such as test editors compliers build automation tools and debuggers Eq Capital Educational Eq NonCapital Educational Equipment for auditorium seating chalkboards classroom furniture and similar equipment Eq Capital Electronic Eq NonCapital Electronic Equipment for intercommunication systems radar radios televisions and similar electronic equipment Eq Capital Exhibit Eq NonCapital Exhibit Equipment for artifacts art works scientific paraphernalia and similar museum materials and equipment Eq Capital Field Eq NonCapital Field Equipment for portable and or permanent nondisposable equipment such as automatic samplers and ambient air water meters or analyzers designed and purchased primarily for use in non laboratory settings Eq Capital HSF Donated UVA Eq NonCapital HS
48. depreciation expense Scenario e Add a capitalized building and a CIP building in Year 1 Quarter 1 e The capitalized building costs 4 000 and has a four year life e In Year 1 Quarter 3 transfer a 1 000 invoice line from the capitalized building to the CIP building Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adjusting Assets ADVANCED Chapter 8 Page 33 Recording Invoice Lines Transfer Recording the Transfer Between Buildings CIP Cost CIP Building 1 000 00 Asset Cost Capitalized Building 1 000 00 Recording the Depreciation Expense Depreciation Expense 187 50 Depreciation Expense Adjustment 125 00 Accumulated Depreciation 62 50 Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Adjusting Assets ADVANCED Chapter 8 Page 34 Effective 5 3 04 Recording Invoice Lines Transfer Invoice Lines Transfer Depreciation Trend Period Asset Cost Accumulate Year to Date Depreciatio d Depreciation n Expense Depreciatio n Capitalized Building a Year 1 4 000 00 83 33 83 33 4 000 00 166 67 166 67 1 4 000 00 250 00 250 00 83 33 83 33 83 33 83 33 83 33 83 33 83 33 83 33 62 50 62 50 4 000 00 333 33 333 33 4 000 00 416 67 416 67 4 000 00 500 00 500 00 2 4 000 00 583 33 583 33 4 000 00 666 67 666 67 3 3 000 00 562 50 562
49. entry source specifies which feeder system created the journal entries e The journal entry category labels the purpose of the journal entry Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Depreciating Assets ADVANCED Chapter 10 Page 9 Depreciation Rollback Journal Entries IS Assets M gt Journal Entries gt Rollback Journal Entries Submit Request EE Submit Request Run this Request Pew Rollback Journal Entries Parameters esl Etter American English Languages At these Times EE Parameters Run the UVA FA BOOK WA FRED ASSETS BOOK Upon Completi Feriod 4 Submit Cancel 1 Inthe Parameters windows click the LOV Icon E and accept the default UVA FA BOOK 2 Click the LOV icon in the Period field and accept the default of the current accounting period 3 Click OK 4 Click Submit to run the request 5 Select View gt Requests from the menu to review the output of the request Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Depreciating Assets ADVANCED Chapter 10 Page 10 Depreciation Reviewing Depreciation Journal Entries General Ledger N Journals Enter Journal Source Period O Status Control Total New Batch New Journal Review Monthly Journal Entries Before you post your entries from General Ledger
50. following monthly journals for any activity during the month e Additions e Adjustments e Depreciation e Reclassification e Retirements e Transfers Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Depreciating Assets ADVANCED Chapter 10 Page 17 Summary You should now be able to do the following e Depreciate assets using the straight line method of depreciation e Run depreciation for a period e Create review and post journal entries for the general ledger Creating Journal Entries Complete the Enter all transactions for the period depreciation period Oo S Calculate gains and losses for retirements LF Run depreciation to close the period Create journal entries Run the Create Journal Entries program to send entries to the G L and to examine all unposted journal entries before posting Reconcile to the general Review reserve ledger balances transaction ledger drilldown reports Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Depreciating Assets ADVANCED Chapter 10 Page 18 Retiring Assets Chapter 11 Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Retiring Assets Chapter 11 Page 1 Retiring Assets Section Objectives At the end of this section you should be able to
51. from the mass additions in the POST queue in IS Assets when you post mass additions Also add mass additions in the COST ADJUSTMENT queue to existing assets 1 Open the Submit Requests window Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Mass Additions Chapter 5 Page 25 2 Inthe Parameters window select the LOV to display the default book UVA FA BOOK If no assets are available for posting an error message appears stating that no entries are found 3 Click Submit Request to submit a concurrent process to post your mass additions to IS Assets Note When the program is successfully completed IS Assets automatically runs the Mass Additions Posting Report giving you an audit trail of the processed mass additions 4 Review the log file and print reports after the request is completed Note Posting mass additions will be a nightly automated process Posting can be done manually if necessary Check with the Property Accounting Manager before posting mass additions manually Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Mass Additions Chapter 5 Page 26 Mass Additions Adding to an Existing Asset IS Assets N Mass Additions Prepare Mass Additions B Add to Asset Add to Asset E Amortize Adjustment Cancel Done Mi New Category and Description You add to
52. has been posted You can view the cost by opening the merged line of the asset Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 40 ET Wiass Ad ditio ng ees UVA FA BOOK Gueye Transaction Type Transaction Date aE 1551577 Line Number Category a Group Asset Employee Mame Employee Murnber Expense Account Location Ee 25 NOV 2003 BERNEWEIN ST 888 26 Asset Details anne Description ULT25869D ULTII UPR Serial Number Units Asset Type Capitalized a Parent Asset Manufacturer Model Number Lease Number Warranty Number 00 Lessor T In Use In Physical Inventory PropertyType Ownership Property Class Bought Project Details k i Assignments Cancel 5 If this asset is a component of a building key the Parent Asset number If there is no Parent Asset for this asset record the building designation see Note below and tax parcel ID number in the appropriate segments of Asset Key FlexField Note Keying the Parent Asset number insures that components are grouped with the appropriate building or improvement and reflected that way in reports Note Buildings are designated as E amp G Auxiliary amp Other Infrastructure Note The parent asset number should be the building number Revised 4 6 05 Copyright 2004 University of Virginia and Oracle
53. in the current period e You can transfer groups of assets Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Managing Assets Introduction Chapter 2 Page 9 Depreciating an Asset Depreciating an Asset Za Asset Life Automated Manual H W Ic addition addition Oracle Payables p isa Transfer Sey i pa Run depreciation p i Reports p Retirement ams Quen AN Create o5 D n d journal entries Running Depreciation e You can calculate and record depreciation for each book independently e When you run depreciation Fixed Assets closes the current period and opens the next period AE Run Depreciation ieee eee eee e a MM Book Close Period Note You must check the Close Period box to activate closing the current accounting period e You then run the Create Journal Entries program to record in the General Ledger period depreciation for each separate book Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Managing Assets Introduction Chapter 2 Page 10 Retiring or Reinstating an Asset Retiring an Asset Asset Life Automated Manual uf 2 addition addition eg Invoice 6 Adjustment Transfer fein lt gt gt O lt _ K if Retirement Depreciation Create Sd journal entries 4 AA o
54. in the database may not always be conclusive For example the Fully_Reserved flag is set to No after you adjust a fully reserved asset so the depreciation program processes it yet the asset may remain fully reserved after the adjustment Compare the accumulated depreciation and recoverable cost to verify that an asset is fully reserved Adjust the financial information to correct an error or update financial and depreciation information for an asset or group of assets Updating Financial Information Select the book in which you want to change financial information Transaction Type Function Action ADDITION VOI When you adjust an asset in the period in which you added it Fixed Assets updates the original ADDITION transaction to ADDITION VOID and creates a new ADDITION transaction with the updated information ADJUSTMENT Adjusts an asset following the period in which you added it Transferring Invoice Lines e Transfer an invoice line or a partial invoice cost between CIP assets and capitalized assets to maintain accurate asset cost e Transfer lines between assets added in a current or prior period but not between assets added in a current and prior period Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adjusting Assets ADVANCED Chapter 8 Page 27 Depreciation Changing Depreciation Methods IS Assets N gt Assets Asset Workbench B Books
55. message to confirm your change has been saved The Assets summary window opens automatically with no assets displayed IMPORTANT Changing the Asset Category does not change the depreciation Method or the Life Years of the asset To change either of those elements you must change the default rules as described in the following section Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adjusting Assets ADVANCED Chapter 8 Page 9 Changing Default Rules fes Oracle Applications UVA ist10 CRP 1 File Edit View Folder Tools Window Help Show Navigator R Zoom query 1 By Example j Description Tag 1 o ee CE ee EE ee Sn E I Record Translations Attachments QuickAdditions Subcomp onents Source Lines Assignments Note To confirm your category change or go to Books to change the depreciation method or life years you must requery for the same asset Find by Asset Detail Asset Number 11718 Tag Number Serial Number Warranty Number Revised 4 6 05 Adjusting Assets ADVANCED Description Category E o QuickAd ditions 2004 University of Virginia and Oracle Corporation All rights reserved Chapter 8 Page 10 Effective 5 3 04 Note The Find Assets screen should appear with the Asset Number field displaying the number of the asset whose category you just changed secre
56. n 7 Ips 3 Retiring or Reinstating an Asset You can easily retire assets or reinstate previously retired assets with Fixed Assets e Youcan retire all or part of an asset that was lost stolen damaged sold returned or for any other reason is no longer in service e You can undo the retirement with a reinstatement Fixed Assets continues to track a fully reserved asset until you retire it Retirement Description Type Full Retirement Retiring an entire asset including all of its units and cost Partial Retiring part of an asset by cost or units You specify the Retirement units to be retired The cost retired is distributed proportionately across all distribution lines Reinstatement Reinstating or undoing a retirement Note This applies only to retirement transactions not processed using the Calculate Gains and Losses program this erases the retirement transaction Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Managing Assets Introduction Chapter 2 Page 11 Integrating Fixed Assets INTEGRATING FIXED ASSETS ae Invoice Supplier io lines information Purchasing Accounts Payable alt 2 a CIP assets 3 Grants Management Spreadsheet Fixed Assets Journal entries Employees po Units of measure C io tem infonnation Human Resources General Ledger Inventory Fixed Assets integrates with Accounts Payable Purch
57. now be able to do the following e Use Detail Additions to add an asset by specifying details Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Manual Additions Chapter 3 Page 16 Viewing Asset Information Chapter 4 Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Viewing Asset Information Chapter 4 Page 1 Viewing Asset Information Section Objectives At the end of this section you should be able to e Perform online inquiries to view the financial information about an asset e Query all assets assigned to a General Ledger account by asset detail assignment and source lines e Query all assets assigned to a depreciation account e View the transaction depreciation and cost history of an asset Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Viewing Asset Information Chapter 4 Page 2 Fixed Assets Central Department User Chapter 4 Viewing Asset Information Online Financial information f Employee Viewing Assets _ Depreciation Purchasing book information o n Invoice Supplier Location You can view and query assets online to verify or research asset information You can find assets quickly without having to remember asset numbers as follows e To find an asset by detail en
58. of equipment 10 116632 5505 8585 lt Org gt 0000 Expense account string for Government Furnished Equipment GFE 10 116633 5505 8586 lt Org gt 0000 4 Select the physical location of the asset from the LOV 5 Click Done to save your work APP OFA 4G4HB Transaction saved for asset number 50005 Reference numbers 143926 143927 6 Click OK Note The asset is posted to Fixed Assets and its asset number is assigned and displayed after it has been posted Now the asset can be viewed in Asset Workbench or Inquiry Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Manual Additions Chapter 3 Page 13 Specifying Asset s Date Placed in Service Specifying Date Placed in Service Prorate Prorate convention lea calendar 21 Date in service Prorate Prorate date period Rate table Divide by periods in depreciation calendar Multiply by cost or net book value Depreciation Annual expense per period depreciation Date Placed in Service The date placed in service is in the current or a prior period Override the default if necessary The following table shows how to determine the default value If the System Date Is The Default Date Placed in Service Is In the current open period The calendar date you enter the asset Before the current open The first day of the open period period After the current open The last day of the o
59. ree duasdeg 8 46 Transterr Mo ASSE IS ansao 9 1 Toan dena ASSIS a a N a a S asanaeteeadaemaaneenaeas 9 2 CV CT A a E T E E E E A A E A E 9 3 Ase ee ane 11 2 erpe E E EE 9 4 ASSE MaS A raS e EEEE EEA EAA 9 6 Recording Pror Pernod rans Cts demire EEE E EE 9 9 PtSi Assel Tani ROPO See E E EE 9 11 SUMA Yenir nonae E A EE EE E EE E onsen 9 12 Depre ciatine Assets ADVANCED i cosriccceescccceceteccitess tecaccsadeticvsscscdedetuavidecstcleavevivesiecededsinaeiieestiedeesntasacesiaceect 10 1 Depreciatine ASe ADVANCED are a a emer enn ae 10 2 OV ELV IC Were acca Saco nea ania anseaencas nae ac eases a cae nae cee eee ee eae 10 3 Method tor Depreciatn t UVA ASS mea litre ieee eee ame ane eee 10 4 DDE PREC TALON RUMI G ae 55 2 los those uate aaa a med teen emaaen cea 10 5 DG pre cratiOn RODIE aeron ssoadngocdeuabsareadeuenuaetne shaadevee odayansnomnasiiaametuonmuaseuseuansaueaieuecactas 10 6 Depreciation Create Journal nts im FAs EEE EENES 10 8 Depreciation Rollback Journal EMTIES secorrir ran aE osayabspomoaiianaueapaetuadevsociaaumeanedeanaies 10 10 Depreciation Reviewing Depreciation Journal Entries 000seesoooooeeeneessssssssssssseeeerrersssssssssssssesseeeeerees 10 11 Depreciation Viewing Depreciation Information esssssssssssseoeeeerersssssssssssssssssererereressssssssssseeeeeeeeseeeo 10 13 Lasting Asset Depreciation REPOL Sreten eE E AREE EEE EEEE 10 16 Monthy Jonrnal Sesin EE A E E 10 17 SUMA rnp a E 10 18 Ret
60. reflected in the reporting currencies asset books All cost adjustments use the daily exchange rate based on the transaction date entered during adjustment Fixed Assets calculates a new weighted average rate for the asset Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adjusting Assets ADVANCED Chapter 8 Page 46 Transferring Assets Chapter 9 Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Transferring Assets Chapter 9 Page 1 Transferring Assets Section Objectives At the end of this section you should be able to e Transfer a single asset between General Ledger depreciation expense accounts locations and employees e Transfer a group of assets between depreciation expense accounts locations and employees Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Transferring Assets Chapter 9 Page 2 Overview Transferring Assets Depreciation enerali Leager Number eneral Leager Number General Ledger Number Expense Accounts General Ledger Number Company 03 Region 300 Company 03 Region 300 Cost Centerl300_ Account 3000 Product 300 SubAcct Cost Center 300 Account 3000 Product 300 SubAcct Locations FR GV PA BLDG3 Charles Ackroyd 4 Employees Sandy Chen Employee 33 l Employee 117 l f
61. se E e EE E onan eu EEEE EEREN 11 27 Recording Prior Period Reinstatement 2 0 0 ccccccccsssssssssseeeeeceeceeeeeeeeeeeeaasessessseeeeeeeeeeeeeeeseeseesessassseeseeeeeeeeess 11 29 Renre Mi e Rere MENIS eiaa Ea a EEA EEEE E E KEEA EE Ha eE EKEN EEEH E SN 11 30 Retire Reinstating a Mass Retirement 2 0 0 ccccsseesssssseeececceeeeeeeeeeaeeeseesseseeeeeceeeeeeeseesaaaaeessseseseseeeeeeeess 11 32 Entos Retirement RE PONS enen ec teense tease cade a a ase neeet elon es 11 34 SUPT RMN AD oo cr arena asserts soca at and sa andere a ewe sac aa taesiaardade nero aadiesooetaaaninel eacgnadeataaales 11 35 Reconciling Assets Data ADVANCED cccccssssssccsccccccccccccssssssseesessssscscccccenscecsssssesecessssossssscsscccoseceesscsoeeseeess 12 1 Reconciling Assets Data ADVANCED 5 2c sic ssscnwtssareeseveeistendandeeeccesensdcanesaseeiivbiadescasanumecaedeaneasecaetaaneses 12 2 VOEN EN nin EE ta ieshss nts anaiadachssauansangssanassead waagaiadactsssuahsangasanaeseed E TEA 12 3 Reconciling 10 bhe General Lede onsin E E Mam eiaate mes snieccadasnhad Meneses 12 4 Reconciling ASSEUC OSt AC COMMS crsa a n A EE 12 7 Reconcilins CIP C OStACCOUNTS sesde erena iee eis aa aE erea EEEa dae Sadek AEEA Eae TE Eeh die adie celant EAr TEKER eae 12 9 Reconciling Reserve Accounts a a r ale e E e a a a a abel 12 10 Reconciling Depreciation Expense Accounts eessssssssssssseeeeeeerrsssssssssssesseterrrressssssssssesessseeerrereressssssssssees 12 11 Reconcilin Mass Addit
62. selected automatically if the Expenditure Type begins with Eq Capital e The invoice is approved e The invoice line distribution is transferred to General Ledger from Payables e The General Ledger date on the invoice line distribution is on or before the date that you specify for the create program Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Mass Additions Chapter 5 Page 11 Preparing Mass Additions to Become Assets Preparing Mass Additions 2 Prepare Mass Additions Cost Adjustment Merge Split g e Merge a mass addition into another mass addition e Split a multiple unit mass addition into several single unit mass additions e Adjust the cost of a mass addition with cost transfers e Enter additional mass addition source descriptive and depreciation information in the Mass Additions form Some information may be added through the scanner such as serial number tag number and model number Other information will be added manually e Assign the mass addition to one or more distributions or change existing distributions in the Assignments window Location and responsible assigned individual may be added through the scanner Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Mass Additions Chapter 5 Page 12 Preparing Mass Additions to Become Assets Adding Ma
63. successtully split into 2 mass additions 3 Click the Split button Click OK on the Caution and Note windows that follow This splits the line into multiple single unit mass addition lines Note Before you split the line you can open the line and add any common information for the assets to the line before splitting Some examples of common information can be Responsible person Depreciation expense account Location Responsible Org Sponsor funding award 4 Review the new lines in the Mass Additions window The resulting mass additions have one unit each as in IS Payables and are placed in the ON HOLD queue Note Any information added to the asset line will appear on the split lines If an assignment was made for the original line each split line will have the same assignment Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Mass Additions Chapter 5 Page 39 Undo a Split Mass Addition Line Es ful Fa 5 ba A cl d iti oO i z m J ITI ii A ry a SSS Sa Description i PMT head on 8 inch Si Alk Yt 1 Select the line that was originally split the line will be on the SPLIT queue Click the Undo Split button in the Mass Addition Summary window Click OK in the resulting Caution window The queue is changed to ON HOLD lie ution da APF 0FA 40245 Undo this split 2 Click OK in the Cautio
64. the other tabs at the top of the screen to find the desired asset Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adding CIP and Fabricated Assets Chapter 7 Page 7 es A d d to A SSE 2 Date in Serice ATIT ee ee ee ee ee ee ee ee ee ee ee ee ee a eT ee eT ee eT ee y is k Fa EAmnotize Adjustment Mi New Category and Description 5 Select the New Category and Description check box to change the category and description of the existing asset to match those of the mass addition 6 Click Done to save your work 7 Click Open and change the queue name to POST in the Mass Additions window IS Assets changes the queue to COST ADJUSTMENT to differentiate new assets from cost adjustments 8 Go to the Asset Depreciation tab and change Asset Type to CIP Note Not needed if asset is a CIP type asset 9 Save your work Note Use this process for adding mass addition lines to capitalized assets Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adding CIP and Fabricated Assets Chapter 7 Page 8 Capitalizing Capitalizing Fabricated Assets IS Assets N gt Assets Capitalize CIP Assets Capitalize CIP Assets si UVA FA BOOK Asset Type Capitalize CIP Assets You capitalize a CIP asset when you are ready to place it in service e
65. to reflect the correct amount you are not retiring these units IS Assets does not create any journal entries if all units remain in the original cost center 8 Save your work by clicking Done Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adjusting Assets ADVANCED Chapter 8 Page 25 Adjusting Financial Information of an Asset Adjusting Financial Information Depreciation ceiling Unit of measure Following month prorate convention Depreciation method Bonus rule What you adjust depends on the time period and the asset type Time Period or Asset What You Adjust Type Before running Anything about an asset depreciation After running Asset cost salvage value prorate convention depreciation depreciation method life capacity and unit of measure in the corporate book rate bonus rule depreciation ceiling date placed in service and revaluation ceiling Fully reserved asset The same fields as an asset for which you have run depreciation Reclassify an asset or change its units after running depreciation For tax books adjust the accumulated depreciation for a previous fiscal year Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adjusting Assets ADVANCED Chapter 8 Page 26 Adjusting Financial Information of an Asset Technical Note The value of a flag
66. u Location SURP 0 00000 0ff 0F 0000 Employee Name Number Category Asset Key i Cost Range i e Asset Numbers LT DatesinSewice 0000000 CL 4 Create Discard Reinstate k Reinstating Mass Retirements 1 Inthe Mass Retirements window use the Mass Transaction Number to find and select the transaction that you want to reinstate 2 Click Reinstate IS Assets reverses the mass retirement as follows e If the Calculate Gains and Losses program has already run IS Assets resets the status of the appropriate assets from to Processed to Reinstate Run the program again to process the mass reinstatement when depreciation is run e If the Calculate Gains and Losses program has not yet run IS Assets simply deletes the appropriate PENDING retirement transactions The associated assets are reinstated immediately Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Retiring Assets Chapter 11 Page 32 e If you save your work using the toolbar menu instead of selecting Retire IS Assets saves the Mass Retirement definition but does not create pending retirements Query later and run the Mass Retirement e You cannot reinstate mass retirements in the previous fiscal year Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Retiring Assets Chapter 11 Page 33 Listing Reti
67. 004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Retiring Assets Chapter 11 Page 19 Recording Retirements Recording a Full Retirement with a Single Gain or Loss Account Accumulated Depreciation 2 750 Proceeds of Sale Clearing 2 000 Asset Cost 4 000 Cost of Removal Clearing 500 Gain or Loss 250 Note the different components of the gain or loss amount Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Retiring Assets Chapter 11 Page 20 Recording Retirements Recording Retirement on Multiple Accounts Oracle Assets creates journal entries for each component of the gain or loss amount Sale proceeds Removal cost Retired net book value Retired revaluation reserve Recording a Retirement on Multiple Accounts Create journal entries on multiple accounts defined for the book Identifying Separate Accounts for Each Component of Gain or Loss e Proceeds of sale e Cost of removal e Retired net book value e Retired revaluation reserve Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Retiring Assets Chapter 11 Page 21 Effective 5 3 04 Recording Retirements Recording Retirement on Separate Account Sets for Gains and Losses e If the retirement results in a gain IS Assets creates journal entries to the gain accounts e If the retirement results in a l
68. 04 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 26 Generating Asset Lines Generating the Asset Lines Asset Lines Update Project Generate Asset Summary Amounts Lines Report Using Generate Asset Lines e Create summarized asset lines for project s from the capitalizable expenditure items on tasks assigned to an asset with an Actual Date Placed in Service using the Generate Asset Lines process e Before you run the Generate Asset Lines process run the Update Project Summary Amounts process If you fail to run Update Project Summary Amounts you do not see the total expensed and CIP amounts in the Capital Projects Summary window This process 1s run each night e Transfer the CIP costs for summarized asset lines to General Ledger This process is run each night e Assign the project cost lines to assets before you run the Interface Assets process Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 27 sending Asset Lines to Fixed Assets The asset line must meet these conditions in order to be sent to Fixed Assets e The actual date in service must fall in the current or a prior Fixed Assets accounting period e The CIP costs for summarized asset lines must be transferred to General Ledger e A CIP asset must be associated with the asset line Using
69. 13 Manabin Assets Introduction 6eccccecsscisicesscsvcacestieccecstesedasessevesacevsstevndecssencedesussduessdeveecestueucoestosgeveedeiesvicwesten 2 1 Manas ine Assets Math OCUC HOM sas rca sa aris ranana a ease sds maetedoneuane as Rae aadoouedeeaenenu nines 2 2 5 1 2 1 Ce Nase NE es SE pv On RE a ET OC aE eR SE Oe 2 3 Department ResponsiDiiile Synne tease osten Reaawaaatoeseasnetd ales esataomage nena emen ae uaa amano 2 4 Addo ANS SOUS M Anal LY 505 sis chaieinaotgattataden aa csawtneadiedepacastuabe sasdaadoanstunsadduceabageheabondeasaacsaunshnandepen tooeubgahsntendunions 2 5 Adding Assets from Invoice Distribution Lines ccsseeeeecceccceccececaeeeessssseeeececcceeccceeesssaaaaaaaassseeeeeess 2 6 NW LOWS A SSE a E R egnaaadanans to msaaaed monantutineaseansveansateheneantovenouauind pemmasiiees 2 7 PNT US ENS ASSES T E EET coe cauen seas E E E E E E E T 2 8 Tiansiernrme Single OF Group OL ASSCUS itri e EEEE EE EE ramesiians 2 9 IDE PRE CLAN OANA SS Cl ere oa S E 2 10 Retinitis OF Reinstouns AN ASSE ess cccccsesocsngsess eer eE nd tseemesG best onder oruneetes 2 11 TNS atti COPIXE CG ASSES csctecncasscsnccamsmumtaeassanseerdeemaasaachhesormAAGiabans EEEE 2 12 Manuak Additions psa seas ene osea Ea OE eE asee oere aa e assa ONEN 3 1 Mangal Addon ssena a a a a cane a A a 3 2 Addn ASe aaa a gional eaeti vavomnge aie deew agnenanemeetatanom ome 3 3 AddOns De tatle GA CAITIONG saersi aE E ceuadedgoossyensnena douse EEE 3 5
70. 2 pee Retirements Asset Number Reference Number Book M VA FA BOOK Retire Date Comments e Status Retirement Details Current Units k Current Cast Units Retired 1o Cost Retired Retirement Type SURPLUS Proceeds of Sale Lost of Removal Retirement Convention EQUIP CONV Gain Loss Amount straight Line Method et Life Years Months Check lnyoice sald To Lf rrr cl Trade in Asset Description L a Group Asset Group Asset hs Recognize sain and Loss Reduction Rate hl oo 3 Inthe Retirements window select UVA FA BOOK from the LOV in the Book field 4 Enter a retirement date that falls within the current fiscal year 5 Enter the number of units or cost that you want to retire If you are retiring an asset before it is fully reserved enter the retirement convention 6 Enter the retirement type 7 Click Continue to retire units in the Assignments window The Units to Assign field is negative because you are retiring units 8 Click Done to save the transaction and return to the Retirements window Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Retiring Assets Chapter 11 Page 13 Processing Pending Retirements and Reinstatements Processing Retirements with Status PENDING e IS Assets calculates the gain or loss for a retirement and removes the asset cost and accumulated depreciation from the appropriat
71. 50 M1 3 000 00 625 00 625 00 3 000 00 687 50 687 50 4 M1 3 000 00 750 00 750 00 2 CIP Building 0 00 0 00 0 00 62 50 187 50 KO SS LC 0 00 0 00 0 00 0 00 0 00 0 00 0 00 1 000 00 0 00 0 00 1 000 00 0 00 0 00 e If the assets were added in the current period Fixed Assets does not adjust journal entries It clears the clearing account for the source asset and charges the cost account for the destination asset e Review relevant invoice lines by finding the asset in the Inquiry form and opening the View Source Lines window Notice that the CIP asset is not yet depreciating Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adjusting Assets ADVANCED Chapter 8 Page 35 Recording Expensed Cost Adjustments Recording an Expensed Cost Adjustment Scenario You place a 4 000 asset in service e The depreciation method is straight line with a four year life e In Year 2 Quarter 2 you realize that there is an error in the asset cost e Change the asset cost to 4 800 and expense the adjustment Journalizing an Expensed Cost Adjustment Fixed Assets creates the following journal entries for the change in asset cost and for the current depreciation expense Adjusting the Asset Cost Asset Cost 800 Asset Clearing 800 Recording the Current Depreciation Depreciation Expense 300 Depreciation Expense ad
72. 902 1001 8585 20030 0000 ic 20 101902 1001 8585 20030 0000 20 101902 1001 8585 20030 0000 SEP 03 20 101902 1001 8585 20030 0000 AUG03 20 101902 1001 8585 20030 0000 20 101902 1001 8585 20030 0000 J L IN 03 20 101902 1001 8585 20030 0000 MAY03 _ _ 20 101902 1001 8585 20030 0000 APRO3 20 101902 1001 8585 20030 0000 MAR03 20 101902 1001 8585 20030 0000 Ig 20 101902 1001 8585 20030 0000 20 101902 1001 8585 20030 0000 9 From the View Financial Information screen in step 7 click the Depreciation button to see depreciation history Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Viewing Asset Information Chapter 4 Page 13 Cost History Period Ette ctive 10 From the View Financial Information screen in step 7 click the Cost History button to see cost history Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Viewing Asset Information Chapter 4 Page 14 Standard Reports Submitting Individual Reports IS Assets N gt Other Requests Run Submit Request fes Oracle Applications UVA ist10 CRP 1 File Edit View Folder Tools Window Help a Sp Show Navigator Zoom a car A Naviga F Find All Funct Inqui Huer By Examp je t inqui Record Res Trans
73. Adjust the invoice line cost of a CIP asset e Add anoninvoiced cost to an existing CIP asset cost transfer for labor or shop charges e Transfer an invoice line between assets e Capitalize and reverse capitalize a CIP asset Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adding CIP and Fabricated Assets Chapter 7 Page 2 Overview Adding and Capitalizing a CIP Asset Add a CIP asset Build a CIP asset Construct the asset CQ ee N aa i gt i y h Data entry N Depreciate the asset Fabricated CIP Equipment Overview The department will notify Property Accounting that it is fabricating a piece of equipment Once the fabrication is approved the department will begin purchasing items for the equipment The department may identify the equipment with a unique tag number agreed to by Property Accounting The first transaction for the fabricated equipment should be capitalized as a CIP asset instead of a capitalized asset This will allow the cost to be posted to Fixed Assets and not depreciated until the equipment is completed Subsequent transactions for the equipment item should be added to the initial transaction that was posted Once the asset is completed the CIP asset should be capitalized The date placed in service can either be the current date or a past date based on when the asset was ready for use Depreciation will begin at the date placed in
74. Adjustments Retirements Reclasses Depreciation Transfers Accumulated Cost retired Depreciation depreciation NBV retired amount Asset Asset Asset Additions Retirements Reconciliation Report Reserve Ledger Reserve Accumulated Accumulated adjustments depreciation depreciation Asset Reclassification Asset Transfers Report Reserve Reconciliation Report Using Reports to Reconcile Reserve Accounts Reconcile the following reports to the columns in the Reserve Detail Report Matching Columns Report Name and Column Name Reserve Detail Report Column Asset Additions Report Additions column Accumulated depreciation column Reserve Adjustments Report Adjustments column Reserve adjustments column Asset Retirements Report Retirements column Difference between Cost retired and Net book value retired column Asset Reclassification Reconciliation Report Reclassifications column Accumulated depreciation column Asset Reconciliation Reserve Ledger Report Depreciation column Depreciation amount column Asset Transfers Report Transfers column Accumulated depreciation column Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Reconciling Assets Data ADVANCED Chapter 12 Page 10 Effective 5 3 04 Reconciling Depreciation Expense Accounts Reconciling Depreciation Expense Account Analys with Payables Detail Report General Ledger General Ledger Report D o
75. CCOCOCOCOCSCOCOCCC nsttuton State Agenoy SS SOOSCSCSCSOCCCCOOOOOOOCCOCS O DISPOSALS Attach explanation of transactions in 2nd column For trade ins record PO for new purchase I a i E _ Returned for Replacement E Cannibaized ooo Ooo o o e C a S ACQUISITIONS TYPE ADDITIONAL INFORMATION INSTRUCTIONS Gift Donor Valuation Method Appraised Actual Cost Govt Furnished Attach DD Form 1342 or explanation oo O Surplus Attach invoice IDT or explanation o O Fabrication Attach support for costsincurred o O L E foter Attach explanation S O SECTIONB EQUIPMENT IDENTIFICATION ASSET OLD LOCATION NEW LOCATION TAG DESCRIPTION BLDG FLR ROOM BLDG FLR ROOM COSTMV ALUE ACQ NUMBER TRANS DISP ONLY TRANS ACQ ONLY ONLY SECTION C DEPARTMENT IDENTIFICATION REQUESTING DEPARTMENT DEPARTMENT NAME PERSON TO CONTACT PHONE DATE FOR INTER DEPT TRANSFER RECIPIENT TO CONTACT PHONE APPROVED BY SIGNATURE AND TITLE DATE RECEIVING DEPARTMENT INTER DEPARTMENTAL TRANSFERS ONLY RECIPIENT S SIGNATURE AND TITLE DATE ROUTING Original to Property Accounting Dept of Financial Analysis and Plant Accounting Carruthers Hall Retain 1 copy For interdepartmental transfer IDT send 2nd copy to receiving department who should complete and forward to Property Accounting For assistance phone 924 4288 10 1 6 Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserve
76. CED Chapter 8 Page 29 Assets Transferring Costs Between Asset Lines IS Assets N gt Assets Asset Workbench B gt Find Assets Find by Asset Detail Asset Number Description l Tag Number Categor i Serial Number Asset Key Warranty Number Asset Type S Transfer To 1 Key the desired criteria in the Find Assets window then click Find In this example you will search for Asset Number 55952 TECRRERTEE gaesssesses Assignments 2 Find the source asset with the invoice information that you want to change Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adjusting Assets ADVANCED Chapter 8 Page 30 3 Click the Source Lines button faz Source Lines Asset Number BeeMrs Capitalized 8 Amortize Adjustment Amortization Stan Date a Invoice Material Indicator Active f Line Tra nsfer l 1 Eie TEE tion Amount Amount fi Supplier Name Supplier Number PO Number JUGRO4266GDA Source Batch Project Number Task Number Project Details Transfer to fs 4 Select the invoice line s you want to transfer by selecting the far left check box Key the amount you want to transfer in the Transfer Amount field Click the Transfer to button Note The Line Amount changes to 0 00 and its original value in this example 5 000 00 appears in the Transfer Amount when you click t
77. Chapter 1 Page 9 Adding and Deleting Equipment Adding Equipment Equipment is added to the Fixed Assets module in these four ways 1 Purchase of 5 000 or more made in the Purchasing Module PO AP 2 Cost Transfers 3 Gifts in Kind 4 Transfers In from sponsors or other universities Deleting Equipment Equipment is deleted from the Fixed Assets module in these five ways 1 Surplus Use the E Form Request to Surplus Www procurement virginia edu Surplus Deleting with Form P 1 Equipment Inventory Change Request Use the Form P 1 for all the following methods of deleting equipment A copy of this form can be found at the end of this manual It is also online in the UVA Forms Directory at http uvaforms virginia edu property equip inv chg pdf 2 Transfers out to sponsors and other universities Attach a written explanation from the Principal Investigator PI to the completed Form P 1 3 Trade In Use Form P 1 and include the Purchase Order number 4 Cannibalization Use Form P 1 5 Stolen Use Form P 1 Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Fixed Assets Central Department User Chapter 1 Page 10 Property Contact Policies and Assistance E Property Accounting amp Fixed Assets Microsoft Internet Explorer File Edit View Favorites Tools Help Send BA l e gt 0 O A a VU U 3 A Back Forward Stop Refresh Ho
78. Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 41 fw Mass Additions Responsible Org SlHEY Number APR Number ETF Lease Year sponsor Funding Award Condition Code Inventory Taker Inven Date amp Time Lif Site Address Comments 6 Record the building address in the DFF if there is no parent associated with this asset Note Responsible Org is a REQUIRED field G 1551577 Line Number GE si UVA FA BOOK camia Distribution set E Show Merged Distributions Units Assigned 1 Units Remaining o Distributions Employee Employee Name Mumber Expense Account Location Hall Mary T CE OO O O Cancel Done 7 Click the Assignments button on the Mass Additions screen to view or edit assignment information Confirm that the depreciation expense account is correct If the asset was funded Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 42 from multiple fund sources add the additional expense accounts with the prorated percentage for the Units column Note the assignment units for the unique Fund Sources should be the same as the pro rated share of funding by Fund Source costs ea Wass Additions 10 B 19 UVA FA BOOK Queue Transaction Type Transaction Date Line Number Category Group Asset Po Employee Name Employee Mumber tc
79. DDITION VOID and creating a new CIP ADDITION transaction with the updated financial information CIP ADJUSTMENT The Sources window creates this transaction type when you change the cost of a CIP asset in a period after the period you added the asset The Mass Additions Post program creates this transaction type when you perform a cost adjustment to a CIP asset after the period you added it by adding mass additions lines CIP REVERSE The Capitalize CIP Assets form creates this transaction type when you reverse capitalize a CIP asset in the period you capitalized it FULL RETIREMENT The Retirements window creates this transaction type when you fully retire an asset The Mass Copy program creates this transaction type when copying retirement transactions into a tax book PARTIAL RETIREMENT The Retirements window creates this transaction type when you do a partial retirement by units or cost The Mass Copy program creates this transaction type when copying retirement transactions into a tax book RECLASS The Asset Details window creates this transaction type when you change the category of an asset The Mass Additions Post program creates this transaction type when you perform a cost adjustment by adding a mass addition line and change the asset category of the existing asset to the category you assigned to the mass addition REINSTATEMENT The Retirements window creates this transaction type when you reinstate a retired asset The Mass Copy pr
80. Depreciation M 0 00 TD Bonus Depr Accumulated Depr i 2 010 02 LTD Bonus Depr M Transactions Depreciation f Cost History 2 Click Books to open the View Financial Information window Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Depreciating Assets ADVANCED Chapter 10 Page 14 Depreciation Viewing Depreciation Information Note This window displays the financial information View the asset s current and remaining life accumulated depreciation for the current and prior period year to date depreciation and net book value amounts eae View Depreciation History Miata aaa ae aa ee a ae ea eae a aa a ee a a ee a a aa Depreciation Revaluation _ Period Expense Account Amount Amortization Apri 20 999999 9999 8585 31885 0000 0 00 0 00 10 999999 5505 8585 31885 0000 0 00 0 00 20 999999 9999 8585 31885 0000 2 010 02 0 00 3 Click the Depreciation button to review depreciation history for this asset in the selected book Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Depreciating Assets ADVANCED Chapter 10 Page 15 Listing Asset Depreciation Reports Listing Depreciation Reports a gt Running Useful Reports to View or Print Report Name Purpose Assets Not Assigned to Any To find assets not assigned to any depreciation books The B
81. Depreciation Trend Period Quarter Asset Cost Accumulated Year to Date Depreciation Year 1 QI Q2 Q3 Q4 Year 2 QI Q2 Q3 Q4 Year 3 QI Q2 Q3 2 750 3 000 Q4 Year 4 QI 4 000 3 250 Q2 4 000 3 500 Depreciation Depreciation Expense 250 500 750 1 000 0 0 1 750 2 000 2 250 2 500 Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Retiring Assets Chapter 11 Page 29 Retire Mass Retirements IS Assets N Mass Transactions Retirements Create and Reinstate Mass Retirements Mass Retireme nts C Sa at i td OLETE Oee Fan ed e INIA CA Bm B OO k Vie CR EE Ti Tai k Status Retire Date 29 Retirement Type jj Proceeds of Sale Units Cost of Removal 0 00 E Retire subcomponents Project Number Po Comments LOOO Task Number OOO f Retirement Criteria Ac ia Asset Type Capitalized Fully Reserved I Yes Wo Expense Accounts Location SURP 0 00000 0ff 0F 0000 Employee Mame Number Category Asset Key Cost Range Asset Numbers o Dates in Serice 00000 Discard QM Retire QM Review Mass Retirements 1 Inthe Mass Retirements window enter the book that you want to retire from 2 Enter the mass retirement date You cannot enter a future date 3 Enter the Retirement Type or give a reason for this mass retirement in Comments
82. E eee We Cancel 1 Click Open and change the queue name to POST IS Assets changes the queue to COST ADJUSTMENT to differentiate new assets from cost adjustments Specify the destination asset before setting the queue name because the fields in the Mass Additions window become required once the mass addition is in the POST queue 2 Press Ctrl S to save your work Note Check to be certain that the added asset has the same clearing account and expense string as the existing asset Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Mass Additions Chapter 5 Page 29 Merging and Splitting Fractional Quantities from AP Fixed Assets converts all fractional quantities from Accounts Payable to a unit of 1 If the invoice quantity is 5 or 3 5 the quantity shown on the mass additions table for the line is one Merging will be needed when one asset is charged to 2 or more invoice distributions On the mass additions table the there will be a separate invoice line for each distribution Fixed Assets converts fractional quantities to one unit An asset split to two distributions will have an accounts payable quantity of 5 for the two lines In mass additions the two lines will have a quantity of one each In this case you will merge the two lines to create one asset The assignment must be split 5 to each depreciation account Note that the assignment quantity should
83. ED e When you reinstate a retired asset with a status of PROCESSED IS Assets changes the status to REINSTATE e After calculating gains and losses the status becomes DELETED For books with a large volume of assets run the Calculate Gains and Losses program several times during the period to reduce the time the depreciation program takes to run at the end of the period Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Retiring Assets Chapter 11 Page 15 Depreciation Calculating Gains and Losses IS Assets N Depreciation Calculate Gains and Losses Submit Request EE Submit Request Run this Request Cela Calculate Gains and Losses Parameters UVA FA BOOK Ee American English At these Times Run the Job Soon as Possible Upon Completion save all Output Files Netty area Submit Requests 1 Open the Submit Request window from the Standard Request Submission 2 In the Parameters Window enter the Book for which you want to calculate gains and losses The period is automatically displayed 3 Click Submit Request to submit a concurrent process to calculate gains and losses 4 Select View Requests from the View menu to review the log file after the request is completed Results of Running the Calculate Gains and Losses Program e IS Assets calculates gains and losses resulting from retirements e It corre
84. EE 8 5 PRS SES Reclassif IN gots cr detente arere nents EE rE EEA Ean sien E Kire NE Saia 8 7 Assets Mass IRCCIASS I ICAL ON x s 6 oe sc ue eeni EEEE Era ra penn ssn eons EEEE EVA KAA KEKERE KENEEN V SEAKAN 8 14 Recordiad Asset REC lass imiCatlON iacitaar tetas rasan tates geared tudes bee a a a a N aA 8 16 AUNE ASSE t UNS io 55 scart Sacer a ee vaya oasne Sada a Dated baauande sedu usu mueunemend a 8 18 PNSSELS AdS NE ASSE S a a a a Set atuitaaiaa auetade tos 8 20 Adjusons Financiak informano or ATASS huec a a a a a 8 26 Depreciation Chaneme Depreciation Methods nense a a a 8 28 Assets Transferring Costs Between Asset LINGS iarrai aT a a a A A 8 30 Recordihe Invoice Lines Tronic casters orre ea a a aa E a 8 33 Recording Expensed Cost Adjustments nisni e e a a a aa 8 36 Performins a Mass Change om ASSES ocn onia a E a E Ka aa 8 38 Assets Pern omin ea Mass Chan e w osoo a E E etal 8 39 Ome OU a MIS Chan Ear a O S 8 41 Controlin Mass Chanoe On ASSC S nkra Na Gig ued a stlatal Saue rence ied 8 42 Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Fixed Assets Central Department User Table of Contents ii Recording Expensed AdjUs Mes esesta E EEEE ER 8 43 Lisin A CjUSTMeN C REPO S sonnan messes nut aesannsesed Romesed nea E NEE 8 45 SA cencessornossecaalneenceetG ch snenssoueeetaad nites mnenS ee seasuSssO Re Maeana ihe Oi mel iG shcneRiaa nae lend eae Baan onan tad chs cemese
85. F Donated Equipment that is donated by HSF to Own UVA UVA Eq Capital Household Eq NonCapital Household Equipment for beds bureaus chairs dressers heaters mattresses refrigerators stoves tables and portable fire extinguishers Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Appendices FA Central Departments User Chapter 13 Page 10 Capital Non Capital Expenditure Types Expenditure Type Description Eq Capital Laboratory Eq NonCapital Laboratory Equipment for blood gas analyzers bunsen burners centrifuges freezing point depression instruments freezer and refrigerators gas chromatographs incubators microscopes spectrophotometers and similar equipment Eq Capital Law Enforcement Eq NonCapital Law Enforcement Equipment for clubs firearms helmets shields surveillance apparatus and similar law enforcement use equipment Eq Capital Library Eq NonCapital Library Equipment for microfiche and similar equipment used in libraries of institutions of higher education Eq Capital Mainframe Comp Eq NonCapital Mainframe Comp Equipment for mainframe computers Or components and peripherals used on a mainframe computer Eq Capital Manufacturing Eq NonCapital Manufacturing Equipment for drills lathes looms presses Saws stampers and similar manufacturing use equipment Eq Capital Mechanical Eq NonCapital Mechanical Equipment for air con
86. IXTURE i m a hlerge I a D 5 1 Open the Mass Additions Summary window and find the mass addition s for this transaction Merge mass additions only in the NEW ON HOLD or user defined hold queues 2 Select the mass addition line into which you want to merge other lines the merged parent 3 Click the Merge button i al Ra Merge Mass Additions lide icles Invoice Number Units 2352 Merged Units 2352 RE m Units Line Mu ner 1 Line Amount 2 392 00 Total Merged Cost 4 032 00 Lines a Merged Queue FOT COSTX HOLD FE COSTX HOLD ppe T New 0084923IN Einen fsa Enew prse Invoice Number ine 00098214 001 06 577 0012965 z Description 2 400 00 Epson LCD Powerlite 730c p 500 00 Ref Purchase Ord 2 285903 1 680 00 Freight 390 00 UVA0T 28 140 00 Pricing per Quote UVA 12 f 33 63 r T 188 63 invusa _ I Reimburse for buying comp Reimburse for buying comp Cancel 4 Do NOT use the Sum Units box Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Mass Additions Chapter 5 Page 34 Note The Merge Mass Additions screen shows all the lines available for merging to the parent asset from the parent s specific invoice To display all lines available for merging click View Query by Example and place the symbol in either the Queue or Invoice Number line Then p
87. Management 1 Find the Capital Project Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 29 es Capital Projects 41000 RectornrBoard of visitors Summary Project Amounts p Project Project Name AS Studio Art Cor 103688 et Lines A1000 RectorBoard of Visitorsi 103688 elejere 9 In Semice Date Through 12 DEC 003 E Seam merle 12 DEC 2003 include Common Tasks IMPORTANT Be sure the check box Include Common Tasks is checked Note Click View gt Requests to see the progress of the request 3 Record date placed in service if it does not default in and select common tasks Click OK when completed to submit the Generate Asset Lines process This process automatically runs the Generate Asset Lines Report shown below Note that the Asset Assignment in the Project Set up should be marked with common tasks Note Only expenditures with a PA Date before the PA Through Date will be selected for generating lines The PA Date can be the current month and date Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 30 Assigning Asset Lines es Capital Projects 41000 RectornrBoard of visitors Summary Project Amounts _ Project Project Name xpense CIP AS Studio Art Cor 2 581 83 Interaced 59 508 77
88. Mass Change Preview Report and view the effects of the Mass Change before you perform it Update the definition and run the preview report again 7 Click Run to perform the Mass Change 8 To review a completed mass change click Review IS Assets runs the Mass Change Review Report Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adjusting Assets ADVANCED Chapter 8 Page 40 Controlling a Mass Change Created a new change definition Status New Updated change definition Run Mass Change Preview Report ge Preview Repo Status Updated Action Preview Status Preview Previewed effects of change definition using Mass Change Preview Report Update change information Status Preview ed Expected results Yes Run Mass Change Action Run Status Running Change program successful y Yes Change completed successfully Change ended in error Status Error Status Completed Run Mass Change Review Report effects of change Action Review at a later time Reviewed effects of Mass Change Status Completed Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Adjusting Assets ADVANCED Chapter 8 Page 41 Effective 5 3 04 Controlling Mass Change on Assets Controlling Mass Change Status Possible Action Newly created Mass Change Preview to run def
89. OMPUTER MICRO MACINT 50 50873 joe 5089001 11 51 555 0000 11 51 555 0000 11 51 524 0000 mo lelslelalslslo ci Su bcomponents Retirements Assignments 3 Click Retirements Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Retiring Assets Chapter 11 Page 7 pee Retirements Asset Number Reference Number D si UVA FA BOOK Retire Date 30 NOV 2003 EM Eo Comments C o l Status Retirement Details Current Units Current Cast Units Retired Cost Retired Retirement Type Proceeds of Sale Lost of Removal Retirement Convention sainfLoss Amount straight Line Method Life Years Months pE Check lnyoice sold To Err o O Trade in Asset Description a Group Asset Group Asset a Recognize sain and Loss Feduction Rate W 4 Select the UVA FA BOOK from the LOV 5 Enter the retirement date It must be in the current fiscal year and not before any other transaction on the asset Note The current month FA system date is displayed by default 6 Enter all the units or the entire cost The Cost Retired and the Retirement Convention defaults when the Units Retired field is completed 7 Enter the retirement type such as Surplus or Returned 8 Complete other information as needed Note Generally proceeds and cost of removal will not be recorded in Fixed Assets 9 Click Done to save your work Re
90. Retire part of an asset by cost or by units in the corporate book e The procedure to partially retire an asset is identical to the procedure for fully retiring the asset The only difference occurs when you specify the cost or units to retire Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Retiring Assets Chapter 11 Page 10 Partially Retiring Assets e If you perform multiple partial retirements on an asset within a period run the Calculate Gains and Losses program between transactions e Perform only full retirements on CIP assets Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Retiring Assets Chapter 11 Page 11 Retire Partial Retirement IS Assets N gt Assets Asset Workbench B Retirements Retirements Tag Number 50 11 51 512 0000 11 51 555 0000 11 51 576 0000 11 51 532 0000 11 51 524 0000 11 51 524 0000 11 51 524 0000 11 51 524 0000 Le i uly jt aof 40 tp ED 40 qi QuickAdditions Subcom ponents Source Lines Assignments Partially Retire an Asset 1 In the Find Assets window select the asset that you want to retire 2 Click Retirements Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Retiring Assets Chapter 11 Page 1
91. S interface table Add data in the Prepare Mass Additions form Fixed Assets then creates the assets by deriving the asset cost account and posting journal entries for capitalization to General Ledger When you run the Mass Additions process in Accounts Payable the FA_MASS_ ADDITIONS interface table is automatically populated A row is inserted into this table for each selected invoice line from Accounts Payable Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Mass Additions Chapter 5 Page 5 UVA Mass Additions Reports to Prepare Asset Lines Fixed Assets creates assets or adjustments from any rows in which the posting status is POST Mass Additions inserts rows into various tables including the FA_MASS_ADDITIONS table Fixed Assets then changes the posting status and queue name to POSTED When you run the create mass additions program the UVA Mass Additions reports are also created This report contains information about each asset line sent from Accounts Payable This report will assist Property Accounting staff in performing the following activities in order to add equipment as an asset e Determining which asset lines should be merged or split based on the invoice units e Add additional information related to equipment trust fund and sponsored program purchases e Assist in locating the contact person for the equipment item The reports contain additional info
92. Section Objectives At the end of this section you should be able to e Use Detail Additions to add an asset by specifying details Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Manual Additions Chapter 3 Page 2 Adding Assets Use the Detail Additions process for gifts of equipment government furnished equipment GFE and other non purchased equipment This process will also be used by Plant Funds to add a zero cost parent asset that will group the component assets 1 e HVAC roof elevators of a building Adding Assets by Detail Additions specifying Asset Type Account Charged Capitaized Balance sheet account Assa Cost Usually depreciated Clearing Expensed Not depreciated Expense in Oracle Not capitalized Payables yak Charged directly not Nin Tracked by Oracle Assets but not joumaized pee Not yet in use CIP Clearing and R i Fabricated oepreda d when Equipment p Com book account Use the Detail Additions process to add assets Override default depreciation rules if necessary Provide descriptive financial and assignment information Enter purchasing information as needed Note UVA Property Accounting is not using the Quick Additions feature Using the Asset Details Window Enter descriptive information in the Asset Details window to query assets at a future time Revised 4 6 05 2004 University of Virginia and Oracle Corpo
93. T 1 16305 31 SERVICE FIXTURE 1 08 ES oe Invoice Mumber Line co i T 1696 97268120 all 10 160400 0158094 3035280 1943425 oo p PAAA a eo Add to Asset Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adjusting Assets ADVANCED Chapter 8 Page 23 2 Open the desired record by clicking anywhere in its line then click Open You may also click the blue box at the far left of the line to open the record NOTE Changes can be made ONLY to UNPOSTED items in the Mass Additions screen POSTED items can be changed through the Asset Workbench only by Property Accounting staff E mass Additions SPEE EAEE EE EEEE A EEEE EEE E E EEE E TEESE A Boh IVA FA BOOK Queue NEW Transaction Type Po Transaction Date Invoice Number 5329310 Line Number Category Group Asset Employee Name Employee Number Expense Account Location ORL elem SEP 2003 P epreciate Cost Asset Details lj Asset Number Description K HALF NIPPLE WELL Tag Number Asset Key Serial Number Units m Asset Type Capitalized Farent Asset Manufacturer Model Number Lease Number Warranty Number Lessor T In Use In Physical Inventory Property Type oOo Ownership es Property Class Bought Eroject Details i Assignments Cancel 3 Inthe Mass Additions record click the Asset Details tab 4 Enter the ne
94. TE into the Queue field Or you can select DELETE from the LOV by pressing Ctrl L Note Fixed Assets creates no journal entries for deleted mass additions and does not clear the asset clearing accounts credited to Accounts Payable You must clear the accounts by either reversing the invoice in your payables system or creating manual journal entries in General Ledger Note The Delete Mass Additions program removes mass addition lines in the DELETE POSTED and SPLIT queues SPLIT parents are removed if the split children have been posted or deleted 4 Click Done Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Mass Additions Chapter 5 Page 42 Fixed Assets N Mass Additions Delete Mass Additions Submit Request Set Submit Re qj uest E ele Run this Request peli Delete Mass Additions y E rogram Sta ge Parameters Mass Additions Delete Tadaa Re A RR a a ea aN ar ae aF ar ea aF aP aE Ei Mia aF EF Hi i Be o At these Times Submit f Cancel 5 Select Delete Mass Additions from the Mass Additions menu 6 Inthe Parameters window use the LOV to select UVA FA BOOK 7 Click Submit On successful completion Fixed Assets automatically runs the Mass Additions Delete Report to display the processed mass addition lines Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All righ
95. accounting period to close the current period and open the next period in Fixed Assets Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Managing Assets Introduction Chapter 2 Page 13 Integrating Fixed Assets e You run the Create Journal Entries program to create journal entries for review and posting to the appropriate General Ledger set of books e Assets creates separate depreciation adjustment entries for review of the adjustments effects and the current period depreciation in the General Ledger e Assets sends journal entries directly into the GL_JE_BATCHES GL_JE_HEADERS and GL_JE LINES tables Each row in the GL_JE HEADERS table includes the associated batch ID the journal entry name and description and other information about the journal entry This table corresponds to the Journal Entry zone of the Enter Journals form e After sending journal entries from Fixed Assets to General Ledger you use the Enter Journals window to review or modify the General Ledger entries before posting Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Managing Assets Introduction Chapter 2 Page 14 Manual Additions Chapter 3 Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Manual Additions Chapter 3 Page 1 Manual Additions
96. al Statements Bear in mind that these are only a few of the total reporting requirements for equipment that must be fulfilled For this reason it is very important that Property Contacts stay abreast of all equipment actions in their departments Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Fixed Assets Central Department User Chapter 1 Page 8 The Inventory Process Completing the University s process for inventory of capitalized equipment generally requires two years The basic process is the same for all departments e The Property Accounting Staff scans the equipment in an organization e The Property Contact is notified that the scan is complete and directed to run the Discoverer IS FA_Equipment Found or Missing Report to see which items the Property Accounting staff could not find or account for e Departments exhaust all possible measures for finding missing equipment and inform Property Accounting of the results of the search e The Property Accounting Staff returns to scan equipment that was found and records equipment verified to be off grounds e Remaining equipment not accounted for is considered missing and an Inventory Certification Form example in Chapter 5 Form 3 must be completed Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Fixed Assets Central Department User
97. an Buildings 8582 Buildings Depreciation Expense Infrastructure Depreciation Infrastructure 8583 Expense Building 8584 Building Depreciation Expense Equipment 85 85 Equipment Depreciation Expense Non UVA Owned aa UVA Owned Assets or 86 Assets ro Expense pT ther Other Object Code Code GL GL Description FA Sale Removal Proceeds of Sale Clearing Account 1670 Clearing Account Cost of Removal Clearing Account 1670 FA Removal Clearing Account FA Proceeds of Sale Removal Proceeds of Sale Gain Account 4862 NBV Gain Account FA Proceeds of Sale Removal Proceeds of Sale Loss Account 8571 NBV Gain Account FA Proceeds of Sale Removal Cost of Removal Gain Account 4862 NBV Gain Account FA Proceeds of Sale Removal Cost of Removal Loss Account 8571 NBV Gain Account FA Proceeds of Sale Removal Net Book Value Gain Account 4862 NBV Gain Account FA Proceeds of Sale Removal Net Book Value Loss Account 8571 NBV Gain Account Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Appendices FA Central Departments User Chapter 13 Page 9 Fixed Assets Central Department User Chapter 13x 5 Capital Equipment Expenditure Types Capital Non Capital Expenditure Types Expenditure Type Long Description nk ae E and similar aircraft equipment Eq Capital Built In Eq NonCapital Built In Equipment for benches laboratory tables platforms shelving stages wall
98. and post the lines without viewing them See Mass Additions Posting The Post line contains the asset information that will be posted to Fixed Assets You can view the information that was recorded when the asset was created in Defining Capital Assets Lines are posted to Fixed Assets in the nightly processes Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 39 pm Wass Additions sua UVA FA BOOK Queue Transaction Ty pe Soa Transaction Date Tatiana 1551577 Line Number Category Group Asset Employee Name Employee Mumber Expense Account Location Ot aetna 2 NOW 2003 lepreciate Supplier Name FISHER SCIENTIFIC COMPAN Supplier Number PO Number Source Batch Project Number Task Number Create Batch Create Date 25 NOV 2003 Source System ORACLE PAYABLES Invoice Date 24 OCT 2003 Clearing Account 20 118543 2040 1751 404 10 0000 Comments Project Details i Assignments Cancel 3 Review information on the Source tab to insure it is correct Changes can be made to the description and category if needed 4 Click the Asset Details tab to view additional information that was established with the asset Recorded information can be changed and information can be added UVA will generally not use a tag number Note that the Cost field is blank The cost will appear on the asset after it
99. anual reentry e You enter purchase orders in Purchasing and receive invoices in Accounts Payable You then use Mass Additions to create assets from one or more invoice distribution lines in Accounts Payable Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Managing Assets Introduction Chapter 2 Page 6 Viewing Assets Viewing an Asset View asset information online oO Financial Depreciation information Purchasing book information E A i N B Employee Invoice Supplier Location Performing Inquiries Online You can view and query assets online to verify or research asset information You quickly find the assets without having to remember asset numbers e Financial Inquiry View an asset s identification purchasing and financial information e Assignments Inquiry View an asset s General Ledger number location or employee e Lease Inquiry View the lessor lease number or lease description of an asset e Invoice Inquiry View the vendor invoice or purchase order e Transaction History View a summary of all the transactions performed on the asset e Cost Inquiry View invoicing information for assets Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Managing Assets Introduction Chapter 2 Page 7 Adjusting Assets Adjusting Assets Reclassification
100. asing Grants Management IS Human Resources IS Inventory and General Ledger to provide asset management needs e You upload and download information from a spreadsheet e You load invoice and asset information from any feeder system such as Accounts Payable or another payables system into Fixed Assets using Mass Additions e You import fabricated assets from Grants Management Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Managing Assets Introduction Chapter 2 Page 12 Integrating Fixed Assets Fixed Assets eases General Ledger integration by automatically producing asset journal entries for the General Ledger system Product Information Transferred to Fixed Assets Accounts Payable Supplier information and number of asset units Spreadsheet Budget information Grants Management CIP assets IS Human Resources Employee and employee locations IS Inventory Units of measure and item information Other Assets System Existing asset information optional interface Creating Journal Entries to the General Ledger Oracle Assets Run depreciation E O NT z Ra y _ oO al 1 Monthend Create Journal Entries Process GL_JE_BATCHES Post entries in GL_JE_HEADERS General Ledger Review entries General Ledger tables Journalizing in Fixed Assets Creating Journal Entries e You run the depreciation program at the end of each
101. change in the number of units of an asset Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Appendices FA Central Departments User Chapter 13 Page 7 Fixed Assets Central Department User Chapter 13x 4 GL Object Codes Major Category Asset Cost GL Description Improvements Other Than E Other Than Buildings 1702 Buildings sie a Improvements Other Than Refer to CIP Clearing Acct Refer to CIP Clearing Acct Buildings Infrastructure Refer to CIP Clearing Acct Refer to CIP Clearing Acct Building Refer to CIP Clearing Acct Refer to CIP Clearing Acct sin a FA Non UVA Owned Assets Non UVA Owned Assets 1742 Clearing Depreciation Reserve Account GL Description 1731 FA Land Depreciation Reserve Improvements Other Than FA Improvements Other Than Buildings 1732 Buildings Depreciation Reserve FA Infrastructure Depreciation Infrastructure 1733 Reserve FA Building Depreciation Building 1734 Reserve FA Equipment Depreciation Equipment 1735 Reserve FA Non UVA Owned Assets Non UVA Owned Assets 1736 Depreciation Reserve Depreciation Expense Cost Account GL Description 8581 Land Depreciation Expense Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Appendices FA Central Departments User Chapter 13 Page 8 Major Category Asset Cost GL Description Improvements Other Than Improvements Other Th
102. ciation Trend Period Quarte Asset Accumulated Year to Depreciatio r Cost Depreciation Date n Expense Depreciatio n Ql 4 000 250 1 Q2 4 000 500 Q3 4 000 750 Q4 4 000 1 000 Year Ql 4 000 1 250 250 2 Q2 4 000 1 500 500 Q3 4 000 1 750 750 Q4 4 000 2 000 1 000 Year Ql 2 250 3 Q2 2 500 Q3 0 Q4 0 0 Year Ql 0 0 0 4 Q2 0 0 0 Q3 0 0 0 Q4 0 0 0 Retiring Assets Chapter 11 Page 24 Retire Correcting Retirement and Reinstatement Errors IS Assets N gt Assets Asset Workbench B Retirements Retirements ta Retirements Asset Number HIRIN Reference Number aM UVA FA BOOK oie Bri 30 NOV 2003 Comments Status z Retirement Details Current Units Current Cast Units Retired Cost Retired se SURPLUS Proceeds of Sale ee Cost of Removal 0 00 Retirement Convention EQUIP CONV GainiLoss Amount EEF Straight Line Method Life ears R Months Check lInvoice Sald To Trade in Asset Description B Group Asset Group Asset Recognize Gain and Loss Oooo Reduction Rate Reserve Retired Prior Year Reserve Retired Retirements To reinstate a retired asset do the following 1 Inthe Asset Workbench window find the asset that you want to reinstate 2 Click Retirements 3 Click View Query Enter or press F11 and key the retirement number for the Retir
103. create any journal entries select Edit gt Delete Record from the menu in the Asset Details window to delete the asset anytime in the period you added it without affecting any subcomponents e If an asset was erroneously added in a prior period retire the asset and note that the depreciation expense and loss on retirement may need to be adjusted for reporting purposes e Retirement transactions cannot span fiscal year boundaries Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Retiring Assets Chapter 11 Page 5 Discussing Retirement and Reinstatement Restrictions Reinstating Assets Restrictions e You can only reinstate assets retired in the current fiscal year e You can reinstate a partially retired asset only if you have not performed any transactions on the asset since the partial retirement e You can reinstate only the most recent partial retirement if you have performed several partial retirements on the asset Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Retiring Assets Chapter 11 Page 6 Retire Full Retirement IS Assets N gt Assets Asset Workbench B gt Find Assets Retirements 1 Navigate to the Asset Workbench 2 Use the Find Assets window to find and select the asset that you want to retire by asset number or tag number Description C
104. cts e Grants Management easily collects CIP costs for a project asset by assigning the asset to a project or tasks e It defines key asset information such as date placed in service location employee assignment and corporate asset book for each project asset e It differentiates between capital and expense transactions e It capitalizes assets before completion of the project e It defines the grouping methods by which CIP costs are summarized for capitalization e It reviews and adjusts summarized CIP costs Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 5 Tracking Capital Projects in Grants Management e It allocates costs collected under common tasks for example project management to multiple project assets e It sends capitalized costs to Fixed Assets e It adjusts asset costs after capitalization when additional costs are incurred e It drills down from the IS Assets asset cost lines to the Grants Management detail transactions Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 6 Capital Projects Flow Integration Discussing Capital Projects Flow CIP Transactions with Oracle Assets Integration Send non CiP asses Fac Mgt Cost Oracle Assets Lrahslet Send project cosas Send Capitalized ass cost
105. cts the accumulated depreciation for reinstated assets Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Retiring Assets Chapter 11 Page 16 Calculating Depreciation for the Period Retired Calculating Depreciation for Current and Prior Period Retirements IS Assets calculates any depreciation for a current period retirement and automatically backs out any excess depreciation resulting from a prior period retirement Discussing Prorate Convention and Retirement Convention e IS Assets uses the prorate convention to determine how much depreciation to take in the first and last years of an asset s life based on the asset s date placed in service e IS Assets uses the retirement convention to determine how much depreciation to take in the year retired based on the retirement date Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Retiring Assets Chapter 11 Page 17 Recording Retirements and Reinstatements Recording Retirement and Reinstatement Asset Type Action Capitalized CIP Expensed 1 Charges or reverses depreciation for the year retired 2 Removes the asset cost and accumulated depreciation from the corresponding accounts 3 Clears the proceeds of sale and the cost of removal 4 Recognizes gain or loss from the retirement 5 Creates no journal entries Constr
106. d Appendices FA Central Departments User Chapter 13 Page 14 Effective 5 3 04
107. ditioners boilers elevators switching and similar mechanical equipment normally included in a structure at time of construction Eq Capital Medical amp Dental Eq NonCapital Medical amp Dental Equipment Anesthesia amp respiratory therapy equip dental equip diagnostic apparatus electrotherapeutic equip examining room furniture fracture and orthopedic equip hospital amp medical lighting operating room equipment x ray Eq Capital Mobile Comp Eq NonCapital Mobile Comp Equipment for notebooks laptops or handheld computers Eq Capital Motor Vehicles Eq NonCapital Motor Vehicles Equipment for automobiles buses forklifts mopeds motor cycles trucks and similar equipment Eq Capital Network Eq NonCapital Network Equipment for routers switches hubs Components Componen and bridges Eq Capital Network Servers Eq NonCapital Network Servers Equipment for computers designated by the manufacturer as servers enterprise servers server blade frames and components network storage devices and systems RAID devices jukeboxes etc Eq Capital Non Power Eq NonCapital Non Power Equipment for files hammers manual drills manual hedge clippers manual lawn mowers Saws screwdrivers wrenches and similar non power repair and maintenance equipment Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Appendices FA Central Departments User Chap
108. ditions e You use the Detail Additions process to enter assets manually e These assets include the following Assets with a salvage value Assets with more than one assignment Assets with more than one source line Assets to which the category default depreciation rules do not apply Subcomponent assets Leased assets and leasehold improvements e UVA may use manual additions for gifts of equipment and government furnished equipment GFE and other non purchased equipment additions Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Managing Assets Introduction Chapter 2 Page 5 Adding Assets from Invoice Distribution Lines Adding Assets from Invoice Distribution Lines a MASS ADDITIONS je C Add invoice lines Mass Additions Purchasing Payable process ahr ST r i C Fixed Assets Pog E Add CIP asset lines Run Grants Management depreciation Cree journal entries Deprecation jouma e You automatically add assets and cost adjustments directly into Fixed Assets from external sources by using the Mass Additions process the most common method for entering asset information External sources may be invoice information in Accounts Payable cost transfers and other additions using Applications Desktop Integrator ADI This decreases data entry and helps avoid errors and information loss that can occur during m
109. dow Key in the desired asset number and click the Find button Note Asset Number and Tag Number are always the same number 2 Use the tabs to Find assets by Asset Detail Assignment Book Source Line or Lease Instructions Asset detail Enter asset descriptive information such as asset number description or category as the search criteria Hint Query by unique values such as asset or tag number Assignment Enter assignment information as the search criteria To search using the expense account enter a book first Source Enter source line information such as supplier or invoice number Line For capital projects only also enter project information such as project number or task number as the search criteria Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Viewing Asset Information Chapter 4 Page 6 3 See DFF Asset Category REF3500U on the web for information on the contents of the Asset Category Descriptive FlexField DFF shown next Asset Category Responsible Org 20 030 mS FlHurman Resources SCHEV Number Sn ETF Lease Year Condition Code Good mee lee 15 JUN 1999 01 00 00 Ptr tee otk ctr ote ate i ar cr ote gir GA t d Deal Deal Drd Drd el ical eal ical ical incall eal inal al The Asset Category DFF records additional information about the asset F
110. e 1lz Book UWA Fa BOOK Mass Transaction Number 761 Page isset Type Capitalized Fully Reserved From Expense Account To Expense Account Location Employee Mame Employee Number Category Asset Eey From Cost To Cost From Asset Number 95346 To 4sset Number 95349 From Date Placed In Service To Date Placed In Service New Category 11 51 524 0000 Basic Adj Salv Asset Prorate Life Rate Rate Depr value Number Book Convention Method Yr Mo i i Capacity Flag 95546 UVa FAR BOOK EQUIP Cony STL 5 Yes 95349 mwa FA BOOK EQUIP Cony STL 5 Yes Mote Only the changed assets are displayed in this report gt Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adjusting Assets ADVANCED Chapter 8 Page 15 Recording Asset Reclassification Scenario You place a 4 000 leased vehicle in service as a VEHICLE LEASESTD The asset has a four year life e The depreciation method is straight line e In Year 1 Quarter 3 you purchase the vehicle and reclassify it as VEHICLE OWNED STANDARD Journalizing a Reclassification Fixed Assets creates the following journal entries for the reclassification and for the current period depreciation expense Recording the Asset Reclassification Asset Cost VEHICLE OWNED STANDARD 4 000 Asset Cost VEHICLE LEASED 4 000 Recording Current Depreciation Depreciation Expense VEHICLE OWNED STANDARD 500
111. e A building may be capitalized in components with separate costs for major items such as roof building systems and interior structures Each component will be a separate asset Therefore you may create many assets for one construction project 1 Find the project with the Find Capital Projects screen In this example the project number 121702 is used as Find criteria Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 11 UVA does not use retirement cost tasks that box should be unchecked E24 Oracle Applications UVA isq01 iQA Test File Edit View Folder Tools Window Help CALES TIIE DDB YI ADDI 1 Capital Projects A1000 Rector Board of Visitors s Summary Project Amounts Interfaced Interfaced Project Project Name Expensed DE SIE RVVIP E poo pe asas CAP 5 2 00 ae 122 00 eee 100 ne em az The RWIP refers to Retirement Work in Process When this is enabled you can track the cost of removal and proceeds generated from asset retirements UVA will not enable this feature There are two new active buttons Task Amounts and Capital Events The task amounts button allows you to see costs by tasks UVA does not assign costs by task to assets at this time This would be useful if asset components were assigned to tasks The Capital Events is another way to assign costs to assets One defines events
112. e distribution and assignment information Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adjusting Assets ADVANCED Chapter 8 Page 3 Adjusting an Asset Adjusting Financial Information You adjust the financial information in the Books window to correct an error update the financial and depreciation data and expense or amortize the adjustment following the period in which you added the asset Performing a Mass Change You adjust a group of assets in the Mass Change window to update financial and depreciation information or to expense adjustments Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adjusting Assets ADVANCED Chapter 8 Page 4 Reclassifying Assets Reclassifying an Asset Reclassify a GFE microscope to an owned microscope MICROSCOPE GFE MICROSCOPE OWNSTD Reclassify a Network Computer to a Regular Computer B L i m i FA i na k computer network computer computer Discussing Asset Reclassification You reclassify an asset by assigning it to a new category in the Asset Details window Normally you reclassify assets to update information correct data entry errors or to consolidate categories Identifying Account Changes e Fixed Assets transfers the cost and accumulated depreciation to the accounts associated with the new category e Depreciation expen
113. e A F A A aA F Ss Year 3 4 000 4 000 4 000 0 0 Year 3 Ql 0 0 0 0 Q2 ol 0 0 0 Q3 ol o0 4 000 3 000 500 500 In the Assignments window the depreciation program uses the asset s unit amount to determine what fraction of depreciation expense to charge to that account The Units to Assign field displays the number of units left to assign Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Transferring Assets Chapter 9 Page 10 Listing Asset Transfer Reports Using Reports cL Reports Running Reports View or print the following reports after transferring assets e Asset Transfers Report e Asset Transfer Reconciliation Report e Asset Disposals Responsibility Report e Mass Transfers Preview Report e Transfers Report Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Transferring Assets Chapter 9 Page 11 Effective 5 3 04 Summary You should now be able to do the following e Transfer a single asset between General Ledger depreciation expense accounts locations and employees e Transfer a group of assets between depreciation expense accounts locations and employees Transferring Assets e To transfer an asset transfer asset units between General Ledger depreciation expense accounts locations and employees Balance transfer units by assigning each unit remov
114. e Fully retire an asset e Partially retire an asset by cost or units e Calculate gains and losses e Calculate depreciation for the period retired e Correct retirement errors e Retire and reinstate a group of assets Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Retiring Assets Chapter 11 Page 2 Overview Tracking Asset Retirements Asset Life Q Automated Manual t US addition addition gt y y Invoice 6 Adjustment a o i D e o_ Depreciation Create SS journal entries Retiring or Reinstating an Asset e You easily retire or reinstate assets using IS Assets e You retire an asset fully or partially when it is lost stolen damaged sold returned or for any other reason that causes you to stop using it e You retire assets by units or cost e You perform a mass retirement by retiring a group of assets e You reinstate retired assets e You perform current and prior period retirements and reinstatements within the same fiscal year e You create journal entries to separate accounts for each component of the gain or loss Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Retiring Assets Chapter 11 Page 3 Retiring Assets Retiring an Asset Asset to retire Full retirement Partial retirement Entire units and entire cost Partial unit Partial cost e
115. e Prepare Mass Additions to add information to a mass addition to add a mass addition to an existing asset as a cost adjustment or to split a multiple unit mass addition Use Merge Mass Additions to combine several mass addition lines More information will be added with the scanner Note This step must be performed before you can post mass additions Run Post Mass Additions to create assets and cost adjustments from the mass additions This process imports asset information from the FA_MASS_ADDITIONS table into several other Fixed Assets tables This will be one of the nightly processes Delete Run Delete Mass Additions to remove unnecessary mass addition lines from the holding area the FA_MASS_ADDITIONS interface table Run Mass Additions Purge to remove the audit trail of deleted mass addition lines from Fixed Assets Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Mass Additions Chapter 5 Page 10 Fixed Assets Central Department User Chapter 5 Discussing Conditions to Import Asset Invoice Lines For the Mass Additions Create process to import an invoice line distribution to Fixed Assets these conditions must be met e The line is charged to Expenditure Types beginning with Eq Capital e The Object Code is set up for an existing asset category as either asset CIP cost or clearing account e The Track As Asset check box is selected It is
116. e accounts e It takes depreciation during the period of retirement according to the retirement convention and it takes any necessary ITC recapture e It updates the status of the retirement to PROCESSED Processing Reinstatements with Status REINSTATE e IS Assets reinstates the cost and depreciation reserve to the appropriate accounts e It determines depreciation adjustment for missed depreciation e It updates the status of the retirement to DELETED Running this process separately reduces the end of period processing time because some processing is done in advance Partial unit retirements terminate the existing distribution and create a new distribution Partial unit reinstatements terminate the new distribution and recreate the old distribution Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Retiring Assets Chapter 11 Page 14 Updating Retirement Status Updating a Retirement Status When you run the depreciation program or the calculate gains and losses program the status of the retirement changes Type of Current Change Status Retirement Status Before After Changing Retirement Status e Each retirement transaction has a status e A new retirement receives the status of PENDING e The depreciation program automatically processes retirements e After you run the depreciation or Calculate Gains and Losses program the status changes to PROCESS
117. e and Accounts Payable dearing account post the invoice i Dr Asset Clearing XX J pel Cr Accounts Payable xx bal Run the Create Mass Additions process View asset lines inthe 3 s bi Prepare Mass Additions Invoice lines AD Summary Window sent to interface Creating Mass Additions The Fixed Assets Create Mass Additions process sends valid invoice distributions and associated discounts from Payables to the interface table called FA_MASS_ADDITIONS Use the Prepare Mass Additions form to review the information before creating assets from the invoice lines Entering Units in Purchasing If you enter a Purchase Order NOT a Limited Purchase Order LPO with multiple units and match it completely to an invoice in Payables the Create Mass Additions process uses the number of units specified by the original purchase order for the mass addition line If you enter an invoice or LPO directly into Payables without matching it to a purchase order the default will be one unit Fractions of units default to a quantity of one 1 in Fixed Assets Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Mass Additions Chapter 5 Page 8 Using Create Mass Additions Entering Invoices in Payables When you want to import invoice lines from a new invoice entered in Payables you must charge the equipment using the Expenditure Type beginning with Eq Capital The line amo
118. e created from mass additions when you ran the Send Mass Additions to Fixed Assets program Fixed Assets posts mass additions with a POST status Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Reconciling Assets Data ADVANCED Chapter 12 Page 12 Reconciling Mass Additions 3 The Cost Clearing Reconciliation Report shows all assets created or adjusted during an accounting period for which Fixed Assets creates journal entries to asset clearing accounts Use this report to reconcile clearing accounts between the general ledger and Fixed Assets 4 The Additions by Source Reports show posted mass additions and manual mass additions and should be reconciled with the Asset Additions Report and the Mass Additions Posting Report Its current cost column should match with the cost column on the Mass Additions Posting Report 5 Fixed Assets automatically makes journal entries for the general ledger 6 Use the Mass Additions Status Report to review source lines by queue name in the Mass Additions interface Reconciling Clearing Accounts and the Mass Additions Table The total of the asset clearing account balances should agree with the total of unposted asset lines on the mass additions table A review of journal entries by source using asset clearing accounts could assist in identifying errant journal entries There are three general sources of reconciling items 1 Cost transfers wi
119. e form field to record the old tag number if a new tag number has been assigned Note The Old Tag Number field does not appear in the DFF for the Mass Additions table It appears only on the Quick or Detailed Additions and the Asset Category screens Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Appendices FA Central Departments User Chapter 13 Page 4 Appendix 3 Transaction Types The transaction types defined below populate the Transaction Type field of the Transaction History report ADDITION The Books window the QuickAdditions window and the Mass Additions Post program create this transaction type when you add an asset The Books window also creates this transaction type if you make changes to an asset s financial information in the period you added it Also the Capitalize CIP Assets window creates this transaction type when you capitalize a CIP asset If this transaction type appears without a TRANSFER IN you did not set up the asset s general ledger depreciation expense account location and employee assignments ADDITION VOID The Books window creates this transaction type when you make changes to an asset s financial information in the period you added it The Mass Additions Post program creates this transaction type when you perform a cost adjustment by adding a mass addition line to an asset in the period you added it IS Assets voids the
120. e n j a as SOEC ER E a voices mime 1014 9 FI URR Admin Intern Pro oO een gt GO0026 FLUHR State E G SP SEG Capital Other CompEqu O Expenditure Org 20405 Fl Comptroller FAS Fund Code e Key the PTAO in the DFF The Project task award and expenditure org can be selected from the LOV e Click OK when completed 3 Click Continue to add more information to the new asset Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Manual Additions Chapter 3 Page 9 Entering Financial Information IS Assets N gt Assets Asset Workbench B New B Continue Asset Mumber 0005 Reference Number Book UW VA FA BO OK Comments Financial Information Current Cost fiso m YTD Depreciation E Original Cost 190 00 Accumulated Depreciation salvage Value Type Am ount value Percent value Recoverable Cost Ant 00 Revaluation Ceiling Net Book Value 450 00 Revaluation Reserve Depreciation Limit and Ceiling Group Asse Advance les Short Fiscal Method W Depreciate Method STL l Date in Serice 01 JAN 2004 Life Years Bo Prorate Convention i EC UIP CONV Months 0 Prorate Date 01JAN 2004 Amortization Start Date Bonus Rule fT SY l Amortiz e Adjustment 1 UVA uses only one Fixed Asset book Press Ctrl L and the book UVA FA BOOK appears by default 2 Enter the current cost of the asset The original cos
121. e running depreciation e You can continue to add assets perform transactions and make corrections and adjustments after you have rolled back depreciation e You can roll back depreciation For the current open period If you ran depreciation for the period and did not select the Close Period check box Note You cannot perform any transactions until you rollback depreciation Therefore you should rollback depreciation as soon as possible to avoid transactions erroring out Submit Reguest Run this Request Eue Rollback Depreciation Parameters ee filer American English Languages At the pa Parameters a UVA FA BOOK LA FRED ASSETS BOOK Upon never Feb O4 Tr Titik Lu Submit Cancel 1 Click the LOV icon for the Book field and accept the default UVA FA BOOK Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Depreciating Assets ADVANCED Chapter 10 Page 6 2 Click LOV icon for the Period field and accept the default of the current accounting period 3 Click OK to submit the request 4 Select View gt Requests from the menu to retrieve the output for this request Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Depreciating Assets ADVANCED Chapter 10 Page 7 Depreciation Create Journal Entries in FA IS Assets N Journal En
122. e the number of units e You are not retiring these units you are adjusting the number of units to reflect the correct amount e When you save your work Fixed Assets navigates to the Assignments window so you can update distribution information Assigning Units e You update the distribution lines for the asset to reflect the new units Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adjusting Assets ADVANCED Chapter 8 Page 18 Adjusting Asset Units e The Units to Assign field displays the number of units to be distributed e The Units to Assign field must be zero before you save your work e Ifall units remain in the original cost center Fixed Assets does not create any journal entries Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adjusting Assets ADVANCED Chapter 8 Page 19 Assets Adjusting Asset Units IS Assets N gt Assets Asset Workbench B Open Asset Details Adjusting for Single Additions 1 Key the asset or tag number in the appropriate field to find the asset that needs an adjustment in the Units field Click the button Find Tag Number 95871 11 51 549 0000 11 51 549 0000 11 51 517 0000 11 51 556 0000 11 51 524 0000 11 51 523 0000 11 51 523 0000 11 51 523 0000 n Ce ee MSlslelelslelss Sube omponents Retirements Assignments
123. ed Effective 5 3 04 Viewing Asset Information Chapter 4 Page 10 Assets Invoices Project 101902 FI URR Hurman Resources Task eel SG00026 FLUHR State E G Expenditure Org Paiumie Fl Human Resources mom meee lel 110600 6 Click on the DFF to see the PTAEO for the line amount Books i ae view Financial Information 81684 Book p Depr Ceiling Revaluation Ceiling Revaluation Reserve Capacity Date in Service i 1 YTO Production meee UIP CONV LTD Production tet mecca MAY Lite End Date Method Basic Rate Life Years 2 Months 0 Adjusted Rate Remaining Lite Years Months a Bonus Rule YTO Depreciation 94 90 YID Bonus Depr Accumulated Depr 2 752 40 LIU Bonus Depr Transactions Cost History 7 From the Assets screen in step 3 click the Books button or click the dark blue box to the left of the Asset Number field to view financial information on this asset Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Viewing Asset Information Chapter 4 Page 11 Transaction History T ansaction History Periods __ Transaction Type Asset Number Description Effective COCCI Reference Number RRIEED E Amortized Adjustment E i k Details 8 From the View Financial Information screen in step 7 click the Transactions button to see transaction history Click the Details bu
124. ed from a distribution to another distribution e To transfer a group of assets create a Mass Transfer definition to specify how to transfer assets Review the preview report and then perform the Mass Transfer Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Transferring Assets Chapter 9 Page 12 Depreciating Assets ADVANCED Chapter 10 Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Depreciating Assets ADVANCED Chapter 10 Page 1 Depreciating Assets ADVANCED Section Objectives At the end of this section you should be able to e Depreciate assets by using life based depreciation methods e Run depreciation for a period e Create review and post journal entries for the general ledger Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Depreciating Assets ADVANCED Chapter 10 Page 2 Overview Depreciating an Asset Asset Life Q Automated Manual Te i P addition addition 4 Oracle Payables e Adjustment sa Transfer i _ lt _ _ gt 0S x Run depreciation Reports p Retirement gt oP Create Dyo journal entries Running Depreciation When you run depreciation and check the Close Period block IS Assets closes the current period and opens the next period You the
125. edger Bolded reports are used regularly in monthly reconciliation activities Type of Report Report Names ournal Entry Reserve Ledger Report ax Reserve Ledger Report Account Reconciliation Reserve Ledger Report Cost Detail and Summary reports CIP Detail and Summary reports eserve Detail and Summary reports evaluation Reserve Detail and Summary reports Transaction reports Asset Additions Reclassifications Transfers Retirements Cost Adjustments and Reinstated Assets reports Cost Clearing Reconciliation Report Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Reconciling Assets Data ADVANCED Chapter 12 Page 5 Drilldown reports Drilldown Report and Account Drilldown Report General Ledger nposted Journals Report eports osted Journals Report Account Analysis Payables Detail Report Note These reports are part of General Ledger Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Reconciling Assets Data ADVANCED Chapter 12 Page 6 Reconciling Asset Cost Accounts Reconciling an Asset Cost Account Account Analysis with Payables Detail Report General Ending balance Fixed Assets ramalre ramMma l Ending balance Ending balance subtotals Related detail reports Using Reports to Reconcile Asset Cost Accounts e Use the Account Analysis with
126. ement transaction that you want to undo If you do not know the transaction number you can select View Query Run or press Ctrl F11 and the retirement transaction will be displayed 4 If the retirement has a status of PROCESSED click Reinstate If the status is PENDING click Undo Retirement Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Retiring Assets Chapter 11 Page 25 5 If the retirement has a status of PENDING run calculate gains and losses to change the status to PROCESSED How to Correct Reinstatement Errors 1 Inthe Asset Workbench window find the reinstated asset that you want to retire 2 Click Retirements and query the asset 3 Select the reinstatement transaction and click Undo Reinstatement Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Retiring Assets Chapter 11 Page 26 Reinstating Assets Reinstating Retired Assets Oracle Assets makes it easy to reinstate formerly retired assets Retirement Option to Status Choose Result Pending Undo Retirement Deletes the retirement transaction Processed Reinstate Creates the reinstatement transaction and reverses the retirement entry Reinstatement Undo Reverses the Error Reinstatement reinstatement entry Reinstating Assets Using the Retirement Status Reinstatement depends on the status
127. eporting Using the correct equipment Expenditure Type and creating accurate equipment descriptions when purchasing equipment is crucial in properly identifying capitalized equipment in the IS If the original Expenditure Types are wrong cost transfers must be done in the Grants Management module to correct them The Property Accounting office is prepared to help departments answer any questions they may have about selecting correct Expenditure Types and creating accurate equipment descriptions Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Fixed Assets Central Department User Chapter 1 Page 4 Central Office Responsibilities The Central Office Property Accounting is responsible for e Management oversight and reporting for all University equipment assets Annual Financial Statements Annual report in September of each year Annual report to SCHEV in October of each year Final sponsor property reports Annual report to Budget Office for ETF Allocation Analysis e Administering the IS Fixed Asset Module e Attaching bar coded tags to all new capitalized equipment assets acquired by the University e Collecting information on existing tagged capitalized equipment with bar code scanners e Conducting a biennial inventory of University equipment e Oversight and tracking of asset retirements scanning surplus equipment etc Revised 4 6 05 Co
128. ert data haa mass acon ines to existing asses O T Spt merge or adjust mmass odios A iin information for assets mamal T raa seamed information torasses Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Mass Additions Chapter 5 Page 45 Capital Projects Chapter 6 Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 1 Capital Projects Section Objectives At the end of this section you should be able to e Discuss the capital projects flow integrating with Fixed Assets e Define capital assets in Grants Management e Place a CIP asset in service by capitalizing its cost generating asset lines and sending these lines to Fixed Assets e Reverse and recapitalize assets in Grants Management e Use the Mass Additions process to add a CIP asset from Grants Management Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 2 Creating Building and Related Assets From Capital Projects The offices of Plant Funds and Facilities Management determine which construction activity should be capitalized A separate capital project for the activity will be established in Grants Management Facilities Management will process costs to the project via monthly cost tra
129. ess to create fixed assets from the mass addition lines e Run the Create Journal Entries program for Fixed Assets to create journal entries to the appropriate CIP and asset cost accounts in General Ledger Querying Information e Search by project information in Fixed Assets to find all assets associated with a particular capital project e Use the project task field to group CIP assets from the same project Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 10 Capitalizing Defining Capital Assets in Grants Management Find the Asset in Grants Management REMINDER Though you are logged in as UVA FA Plant Funds Manager you have menu choices under Capital Projects that give you access to screens in Grants Management The steps you complete below are accomplished in the Grants Management module IS Assets N Capital Projects B gt Find Find Capital Projects Find Capital Projects 41000 Rector Board of visitors 7x Project Key Member Number Number Po Organization sz Classification Estimated Date Placed In Service Ld Actual Date Placed In Service FT Retirement Cost E Retirement Cost Tasks Exist set of Books Currency Mas You define capital assets and generate summarized asset lines to assign to each asset which you can interface to Fixed Assets when the asset is ready to be placed in servic
130. et Reclassification Reconciliation Report Asset Retirements Net change Cost Assigned cost Asset Transfer Reconciliation CIP Capitalization Report Report Using Reports to Reconcile CIP Cost Accounts Reconcile the following reports with the CIP Detail Report Report Name Asset Additions Report Cost Adjustments Report Asset Retirements Report CIP Capitalization Report Asset Reclassification Reconciliation Report Asset Transfers Report CIP Assets Report Revised 4 6 05 Matching Columns Match the cost column with the additions column on the CIP Detail Report for CIP assets Match the net change column with the adjustments column on the CIP Detail Report Match the cost retired column with the retirements column on the CIP Detail Report Match the cost column with the capitalized column on the CIP Detail Report Match the cost column reflecting transferred costs to the reclasses column on the CIP Detail Report Match the assigned cost column with the transfers column on the CIP Detail Report Match the cost column with the ending balance column on the CIP Detail Report Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Reconciling Assets Data ADVANCED Chapter 12 Page 9 Reconciling Reserve Accounts Reconciling a Reserve Account CIP Summary Report Ending balance subtotals CIP Detail Report Additions
131. ethod and Current Depreciation Depreciation Expense 234 38 Accumulated Depreciation 265 62 Depreciation Expense adjustment 500 00 Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adjusting Assets ADVANCED Chapter 8 Page 43 Recording Expensed Adjustments Expensed Adjustment Depreciation Trend Period Asset Cost Accumulated Year to Date Depreciation Year Quarter Depreciation Depreciation Expense 4 000 00 500 00 4 000 00 1 000 00 1 000 00 4 000 00 1 500 00 1 500 00 4 000 00 2 000 00 2 000 00 4 000 00 1 734 38 265 62 4 000 00 1 968 76 31 24 4 000 00 2 203 14 203 14 4 000 00 2 437 52 437 52 4 000 00 2 632 83 4 000 00 2 828 14 4 000 00 3 023 45 4 000 00 3 218 76 4 000 00 3 414 07 4 000 00 3 609 38 4 000 00 3 804 69 4 000 00 4 000 00 265 62 234 48 234 48 234 48 F FG F FGI FP F FIFRA FFA FI FFA FAH Fixed Assets expenses only adjustments made by using Mass Change Change the depreciation method only for assets with the same life in the same Mass Change process To change ACRS 2 year and 3 year to MACRS 2 year and 3 year perform separate Mass Changes for the 2 year and 3 year assets Also enter the depreciation method to change the life rates or capacity for a group of assets In adjusting a group of assets expense the adjustment do not a
132. ets N gt Capital Projects Find Find Capital Projects REMINDER Though you are logged in as UVA FA Plant Funds Manager you have menu choices under Capital Projects that give you access to screens in Grants Management The steps you complete below are accomplished in the Grants Management module Erin d Capital F rojects A 0 OU Recto Bo ard of Visita rS Project Key Member Number 103686 m Tice O Name Fole Po Type Crganization Classification Status hd Category as Cade Estimated Date Placed In Service PF 5 OoOo Actual Date Placed In Serice PF PF 1 Find the capital project containing the asset s you want to reverse Key the capital project number in the Number field if you know it In this example we are searching for project number 103866 To see a list of capital projects key the percent sign in the Project Number field and click Find Note Only assets that have not been depreciated should be reversed Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 34 wat batui Capital Assets EE c ara JBC t P roject RE lant Generate Lines Assets 2 Click anywhere in the line displaying the selected project s data Click the Assets button or press the Enter key Capitalization Details Date In Service 2 Estimated Actual Total Asset Cost
133. fe Ls etired asset R Fully or Partially Retiring an Asset You can retire all or part of an asset when it is no longer in service IS Assets continues to track a fully reserved asset until you retire it A fully reserved asset is a fully depreciated asset Retirement Definition Type Full retirement Retiring an entire asset including all of its units and cost Partial Retiring part of an asset by cost or specified units The cost retirement retired is distributed proportionately across the specified distribution lines Undo retirement Reinstating a retirement Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Retiring Assets Chapter 11 Page 4 Discussing Retirement and Reinstatement Restrictions Restrictions on Retirement and Reinstatement Desired Action Can Be Performed When Retire an asset The asset is in service in the current fiscal year and was added in a prior period Reinstate an asset The asset was retired in the current fiscal year Reinstate a partially No transactions have occurred retired asset since the partial retirement Retiring Assets Restrictions e Retire only assets that you added in previous periods and are effective in the current fiscal year e You cannot retire an asset that you added in the current period Instead enter it as a prior period retirement after you run depreciation Or if you do not want to
134. ffective 5 3 04 Adjusting Assets ADVANCED Chapter 8 Page 38 Assets Performing a Mass Change IS Assets N Mass Transactions Changes Mass Changes k alm mo UVA FA BOOK Mass Transaction Number status New request Number 8 Amortize Adjustments Change Date 01 _JAN 7004 E Assets to Change eaae 0000001 20000005 Dates Placed in Senice eS UO Bele 09 DEC 2003 e 11 51 512 0000 Asset Type B Change Fully Reserved Assets Changes Before After Frorate Convention EQUIP CONV Convention Depreciation Wlethod Method ad Lite Years Lite Years Months i Months Bonus Rule Bonus Rule Group Association Group Association Group Asset Group Asset Mass Changes How to Use Mass Changes to Adjust a Group of Assets 1 Inthe Mass Changes window enter the book to which the assets belong 2 Select the assets that you want to change Specify the asset numbers dates placed in service and category for which the Mass Change applies 3 Select whether to Change Fully Reserved Assets and specify changed information in the Before column 4 Specify the new financial information for these assets in the After column 5 Select whether to Amortize Adjustments IS Assets assigns a mass transaction number to the definition Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adjusting Assets ADVANCED Chapter 8 Page 39 6 Click Preview to run the
135. fication IS Assets M gt Mass Transactions gt Reclassifications Mass Reclassifications Mass Reclassifications Book Mass Transaction Number status New request Number Comments es Beas mee FEB 2004 Assets to Reclass Asset Type Fully Reserved Mil Yes Bho Expense Accounts Ps Location Employee Mame Murmber Category Asset Key Cost Range Asset Numbers Dates in Service New Category Rilnhert Depreciation Rules of New Category E Amortize Adjustments Preview 1 Key in the criteria necessary to identify the assets you want to reclassify Note In this example we reclassify all the assets in Category 21 51 544 0000 to Category 22 51 544 0000 2 Click Preview to view the results of this query 3 When activated click Review to review the output An example of output follows Important Always check the two boxes labeled Copy Category Descriptive Flexfield to New Category and Inherit Depreciation Rules of New Category If these boxes are not checked any information in the Asset Category Descriptive Flexfield will be lost and the assets will not have the new depreciation rules Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adjusting Assets ADVANCED Chapter 8 Page 14 Note Do not check the Amortize Adjustments box UVA does not amortize adjustments UNIVERSITY OF VIRGINIA Mass Reclassification Rewiew Report Report Dat
136. field shows zero save your work Note When you adjust the number of units in either single addition or mass additions to reflect the correct amount you are not retiring these units IS Assets does not create any journal entries if all units remain in the original cost center Note You may add the increased quantity to an existing assignment line or you may enter a new assignment by starting a new line Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adjusting Assets ADVANCED Chapter 8 Page 22 Adjusting in Mass Additions IS Assets N Assets Mass Additions Prepare Mass Additions Find Mass Additions Yal es Find Wass Additions k mo UVA FA BOOK ueue Transaction Date Transaction Type Line Number NEW Eas Ld Asset key PY a _ as Invoice Number Description Asset Number Category supplier Name supplier Number source Batch Task Number Fs Create Date PO Number Project Number Create Batch Source System Invoice Date Comments m Groy p Asset Employee Name Employee Number Location Expense Account 1 Inthe Find Mass Additions window key the invoice number or any other parameter listed in the appropriate field Click Find Mass Additions Summary i h Phase I Installation and parts National chairs per specs and KCHALF NIPPLE WELD FLANC Thermo Finnigan LCO Urra Thermo Finnigan LCO Ura Axiovert 200MO
137. g a Invoice infonnation Accounts EL TT U T Payable re _ Py tro ta info nnation Interface table Old asset ystaen Using the Mass Additions Interface in Fixed Assets You use the Mass Additions interface to add assets automatically from an external source such as Accounts Payable You create assets from CIP lines in Grants Management and information in another assets system or in other feeder systems The Create Mass Additions program creates mass additions from invoice information in Accounts Payable and places them in the FA_MASS_ ADDITIONS table This table is separate from the main Fixed Assets tables so that you can review and approve the mass additions before they become actual asset additions This program is run as part of nightly processes The same line is never to be transferred twice Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Mass Additions Chapter 5 Page 4 Using Mass Additions Interface Table Using the Mass Additions Interface Table Run the Interface FA MASS ADDITIONS Asses process e i T W a itil Grants lt i een Management oP Asset linessent _ 1 Run the Create Mass A Additions process ms jo G F Accounts Y E Payable Invoice lines sent You can run the Interface Assets process to send asset lines from Grants Management into one mass addition line for each asset in the FA_MASS_ADDITION
138. g Purchasing Information IS Assets N gt Assets Asset Workbench B New B Source Lines Source Lines eee Source Lines ASSE set Mumber 50005 Asset Type 1 ost a eng E ost Invoice Material Indicator one PO NUMER Line Description Name Number Number a Continue Cancel Note Invoice information is generally not recorded for manual additions 1 Enter the invoice number description supplier name and number and purchase order number in the Source Lines window Specify one or more invoice lines associated with the asset or enter supplier information for each invoice line as needed Cost information cannot be added to the invoice line Specify cost information in the Books window It appears automatically when you complete the Source Lines window and click Continue Note Cost information is automatically entered when you add assets from invoice distribution lines using Mass Additions Note Normally invoices would not be recorded and the invoice amount is not available for updating Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Manual Additions Chapter 3 Page 8 Adding PTAO 2 Add the PTAO to the appropriate source lines e Click Cost tab Click on the DFF at the far right of the Source Lines screen fet Number 0005 l oe ia Eii E ost E Amortize Adjustment Amortization Start Date Invoice Number p Line I e
139. h Option Mare Stu ctures Tasks Workplan Information Classifications Customers and Contacts Currency Cross Charge Key Members Structures o 4 Tasks o O Workplan Information Classifications OOOO ooo Show J w a pz c S a w MB General Plant Fd IT a ee ee E e es ee ee ee ee a Approved Workflow in Process Template Change status Setup Gluck Entry Revised 4 6 05 Capital Projects Chapter 6 Page 24 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 3 Navigate to the asset information line feet P rajects Tem plates Aq DOO Recto Bo a rd of visito Sj umber o3686 OOOO Name Type Capital ern 20045 MB Budget Office UVa egereitewci 25 MAY 2001 8 30 JUN 2026 PES TE Approved Description Workflow in Process E Public Sector Template d rm p 7 Al A Change Status ptions i H D y A 5 F ssets Beca Setup Quick Entry 4 Select Asset Assignments Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 25 IQnments A Common Costs Asset Description E LE E ie a Il i 5 Select Common Costs for grouping 6 Save your work and close the form Revised 4 6 05 Copyright 20
140. he check box at the far left of the line If you want to transfer only part of the original Line Amount clear the existing amount Edit Clear Field and key in the amount you do want transferred Tab to or click in a different field and the Line Amount field will reflect the difference between the amount you want transferred and the original Line Amount in this example 3 000 00 Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adjusting Assets ADVANCED Chapter 8 Page 31 lee anster To Cancel 5 Inthe Transfer To window find the destination asset to which you want to transfer the line Click View Query by Example and key the Asset Tag Number you want to transfer to Then press Ctrl F11 to find the item IS Assets displays the new cost for the destination asset which receives the capital from the source asset 6 Click Done Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adjusting Assets ADVANCED Chapter 8 Page 32 Recording Invoice Lines Transfer Entering Journal Entries for Transferring Lines Comparing Depreciation Expense Capitalized Asset Depreciation Amount Legend Q1 Q2 Q3 Q4 Capitalized Period CIP n Journalizing Invoice Lines Transfer Fixed Assets creates the following adjusting journal entries for the transfer and for the current period
141. he following e Perform online inquiries to view the financial information about an asset e Query all assets assigned to a General Ledger account by asset detail assignment source lines and lease e Query all assets assigned to a depreciation account e View the transaction depreciation and cost history of an asset Viewing Financial Information of an Asset e You are now able to view financial information online by asset detail assignment source lines and lease e You can view book information such as the depreciation detail and history cost history and transaction history and detail Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Viewing Asset Information Chapter 4 Page 19 Mass Additions Chapter 5 Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Mass Additions Chapter 5 Page 1 Mass Additions Section Objectives At the end of this section you should be able to e Add assets from invoice distribution lines in Accounts Payable by using the Mass Additions process e Prepare mass addition lines to become assets and cost adjustments e Merge and split several mass additions e Post mass additions to generate assets and cost adjustments e Delete and purge unnecessary mass addition lines Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rig
142. hts reserved Effective 5 3 04 Mass Additions Chapter 5 Page 2 Add Assets from Invoice Distribution Lines Adding Assets from Invoice Distribution Lines _ MASS ADDITIONS je C Add invoice lines Mass Additions ahr ST r i C Purchasin Accounts rocess a Payable E Fixed Assets E Add CIP asset lines Run Grants Management depreciation Cree journal entries Deprecation jouma Adding Assets from Invoice Lines e You automatically add assets and cost adjustments directly into Fixed Assets from external sources by using the Mass Additions process the most common method for entering asset information External sources may be invoice information in Accounts Payable cost transfers and other additions using Applications Desktop Integrator ADI This decreases data entry and helps avoid errors and information loss that can occur during manual reentry e You enter purchase orders in Purchasing and receive invoices in Accounts Payable e You then use Mass Additions to create assets from one or more invoice distribution lines in Accounts Payable Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Mass Additions Chapter 5 Page 3 Using Mass Additions Interface Using the Mass Additions Interface The Mass Additions process simplifies creating new assets CIP asset lines FA MASS _ ADDITIONS atten Gik Management BY m
143. iation Run Depreciation Run Depreciation as Fun Depreciation Book A Feriod Jan 4 Run Depreciation 1 Inthe Run Depreciation window choose the book for which depreciation will be run using the LOV Ctrl L 2 Click the check box for Close Period only if the period must be closed 3 Click Run to submit concurrent requests to automatically calculate gains and losses for any unprocessed retirements depreciation expense and reporting programs Note You cannot enter transactions for the book while depreciation is running Note IS Assets automatically runs the Journal Entry Reserve Ledger Report when you run the depreciation program for a corporate book so you can review the depreciation calculated 4 Review the log files and report after the request is completed Note The depreciation program creates new depreciation rows with updated year to date depreciation expense amounts for each asset It resets these amounts for the first depreciation run of the new fiscal year Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Depreciating Assets ADVANCED Chapter 10 Page 5 Depreciation Rollback IS Assets M gt Depreciation gt Rollback Depreciation Rollback Depreciation e After running depreciation without closing the period you can roll back depreciation to restore assets to their state at the beginning of the period befor
144. iation Report Report R Net change Cost eport Asset Reclassification Reconciliation Report Cost Adjustments Report Using Reports to Reconcile Asset Cost Accounts Reconcile the following reports information to the Cost Detail Report Report Name Matching Columns Asset Additions Match the cost with match the additions column on the Cost Report Summary Report Cost Adjustments Match the net change column with the adjustments column Report on the Cost Summary Report Asset Retirements Match the cost retired column with the retirements column Report on the Cost Summary Report Asset Match the cost column reflecting transferred costs with Reconciliation the reclasses column on the Cost Summary Report Report This report lists the reclassification of assets reflected in adjusting journal entries that were created when you ran the Create Journal Entries program Asset Transfers Match the cost column with the transfers column on the Report Cost Summary Report Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Reconciling Assets Data ADVANCED Chapter 12 Page 8 Reconciling CIP Cost Accounts Reconciling a CIP Cost Account CIP Summary Report Ending balance subtotals CIP Detail Report Additions Retirements Reclasses Ending balance Adjustments Capitalized Transfers Cost Cost retired Cost Cost Asset Additions Ass
145. ing Account code can be copied to the clipboard then pasted into Expense Account field Once it has been pasted change the Object Code segment of the Expense Account to 8585 if the asset is UVA or UVA Wise Owned Use 8586 for non owned and SW VHEC assets Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Mass Additions Chapter 5 Page 24 4 Select the physical location of the asset from the LOV 5 Click Done to save your work Mass Additions 1i Bane Gueye _ Transaction Type E Transaction Date Invoice Number 345800 Line Mumber Category PY Group Asset Employee Name OOOO Employee Mumber a Expense Account Location Date In Senice 29 JUL 2003 P epreciate Cost Source Supplier Name Supplier Number PO Number 152011 Source Batch Project Number Task Number Create Batch Create Date Source System Invoice Date Clearing Account Comments Project Details 6 Change the queue name POST marks the mass addition line as being ready for processing by the Post Mass Additions program DELETE marks the unwanted line for deletion when you run the Delete Mass Additions program and ON HOLD places the line on hold 7 Press Ctrl S to save your work Posting Mass Addition Lines IS Assets N Mass Additions Post Mass Additions Submit Request Set Submit Request Set You create assets
146. inition Preview Report Preview Preview report currently running None Previewed Preview report completed Run or modify successfully the definition and preview again Updated Mass Change definition Preview updated after previewing Running Mass Change currently running None Preview report or Mass Change Preview or completed in error Run Completed Mass Change completed Review successfully Using the Status Field to Control Mass Change e Use the Status field to view the current status of the Mass Change and determine what action to perform next e Click Preview Run or Review to specify what Fixed Assets does next e Relevant reports include the Mass Change Preview Report and the Mass Change Review Report Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adjusting Assets ADVANCED Chapter 8 Page 42 Recording Expensed Adjustments Recording an Expensed Adjustment Scenario e You place an asset in service The cost is 4 000 with a life of four years Depreciation method is 200 declining balance e In Year 2 Quarter 1 you realize that the method for all assets in this category is incorrect e Use Mass Change to change all assets in this category to the 150 declining balance method Journalizing an Expensed Adjustment Fixed Assets creates the following journal entries for the mass depreciation change in assets Recording the Change of M
147. invoice line AP cost and purchasing org through the PO AP process by selecting org group and the queue Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Mass Additions Chapter 5 Page 20 Mass Additions Preparing Mass Additions to Become Assets IS Assets N Mass Additions Prepare Mass Additions B Open Mass Additions BE Find Mass Additions ee ee ea ae a a ae a aaa a aa aa a aaa a a aa ae a a eae a a Book UVAFABOOK duede Transaction Date Oo O Transaction Type Invoice Number Line Number Description O O Asset key Asset Number OOO Category supplier Mame supplier Number PO Number source Batch Project Number Task Number Create Batch Create Date Source System Invoice Date Comments Group Asset Employee Name fF i Employee Number Expense Account ll Location Capitalize Preparing Mass Additions 1 From the Mass Additions window open the Find Mass Additions window Click in the Book field to select UVA FA BOOK from the LOV 2 Find mass additions with the queue name NEW or ON HOLD or a user defined hold queue If you want to find mass additions by invoice number purchase order number or supplier number the search criteria must match exactly including capitalization Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04
148. ion Eee 06 AUG 2003 Sra 2 955 11 Source Supplier Name Supplier Number 146 Source Batch Task Number Create Batch 1460008 Create Date 06 AUG 2003 Source System ORACLE PAYABLES 7 nee EET Clearing Account 27 102204 2035 1743 20370 0000 Comments Project Details i Assignments 5 j Cancel 11 If you are ready to turn a mass addition line into an asset make sure the queue name is POST While you are processing put a mass addition line in the ON HOLD or a user defined queue Note If the line was sent over in error you must post the asset and then reverse the line in Grants Management This insures that the appropriate accounting entries are generated Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 44 Capitalizing Quick Addition for Adding a Parent Capital Project Asset IS Assets N gt Assets Asset Workbench B gt QuickAdditions QuickAdditions es QuickAdditions Asset Number Heras Building E Tag Murmber etiam 1 1 41 4 11 0000 s ral Number pees T EAG ACO bAD00I0 Asset Type an Units W supplier Mame supplier Number Po Invoice Number PO Number se UVA FA BOOK Cost 0 00 Group Asset Be heel 1 JAN 2004 Assignment Ex 0 101468 1120 8060 20060 0000 Pale 0055 0 00000 CHARLO Cancel 1 Complete the fields as shown in the preceding sc
149. ions siere eena e a ae a EE tend np S EEEa ats ond ent EEEE iE 12 12 Reconciling UVA Asset Carne ACCOUN cnn a a A a A 12 14 Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Fixed Assets Central Department User Table of Contents li Appendices FA Central Departments User cscccccccoccocscccsccccccccsocsesccoeeecoeseseseeeeeeseseeseesseseseessesssessssssssssse 13 1 Appendix 1 Mass Additions Report Structure eeeeeeeeeeeeeeeeeeeeeeereererereeeerererreerereerererereeerererereeeererereeeeeeeeees 13 2 Append ZA SSEU Cale Ory DEFE eurn a a aetna een eemaeaitee 13 3 Appendix TVANSACHOD VY PES 3 esies cob tete ee eerie ee eee ascetic re are ncaa wo ewan Remaecitee 13 5 Appendices FA Central Departments Userx 4 GL Object Codes cccscssscnnceceeeceecceececeeeeeeeeeeeeeees 13 8 Appendices FA Central Departments Userx 5 Capital Equipment Expenditure Types ceeeeee 13 10 New CIP Ex pent tire Py DES AE EE EES 13 13 Appendix 6 Equipment Inventory Change Request ccccccccccccccccceeesssssesseeeeecceceeeeeeeesaaaaessaesneseeeeeeeeess 13 14 Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Fixed Assets Central Department User Table of Contents IV Fixed Assets Central Department User Chapter 1 Revised 4 6 05 Copyright 2004 University of Virginia and Oracle
150. irmo Assets snua aes E a EEEE Ee AENEA 11 1 REUNIE ASSE nn a a a a A 11 2 OVVIO N aaa E es ee aw ee eee a 11 3 PR CUI FN SSCS a cane satus manasa noe na a a neues Meena una aa 11 4 Discussing Retirement and Reinstatement ReStrictions ccccccccccccccccsssssssssseeeeeeccceeeeeeeseauseseeessseseeeeeeeeeess 11 5 Retre PUIG Hi NC NE anining dedacouausne EEEE E su gewesesbac 11 7 Partially READE AVSSCES i ssaesdcceoossbhenloacausscaueehsacsed A EEN 11 10 Retire Partial Retire MeN senson vopseqadonseonansneedaacouaeemssenaeqnadosanewansns oqadeaseonauebaatdacerseuseen tee cewessotac 11 12 Processing Pending Retirements and ReinstateMent ccccccccccccssssscsssssssssseeeecceceeeeeeeeeessaseeesseeeseeeeeseeeess 11 14 UW pdatine Retirement Sia Sponser EE SEE a 11 15 Depreciation Calculating Gains and Losses ccccsssseeecceeeeceeceecaaeessssssseeeecceeeeeeeeeeeaaaaaasssaseseseeseeeeeees 11 16 Calculating Depreciation for the Period Retired nn00soesseseoeeeeeessssssssssssssecrrererrrrsssssssssssssseerereressssssssssees 11 17 Recording Retirements and Reinstatements cccesssssesseeeccecceeeeceeaeaesessesseeeeeceeeeeeeeeesauaaaeesnsseeeeseeeeeeeess 11 18 Recordins Retirements sree aeo eE e ra ESE E E E EEAS A E EEEE HEERE 11 19 Retire Correcting Retirement and Reinstatement Errors ccsssseesssseeeeeceeeeeeceeaaeeeeeesesseseeeeeeeeeeeeeeees 11 25 FRIIS EAGT ONG Se Ssa cas cats alia eiyen ep
151. justment 250 Accumulated Depreciation 550 Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adjusting Assets ADVANCED Chapter 8 Page 36 Recording Expensed Cost Adjustments Expensed Cost Adjustment Depreciation Trend Period Asset Cost Accumulated Year to Date Depreciation Year Quarter Depreciation Depreciation Expense Year 1 4 000 250 4 000 250 4 000 250 4 000 250 Year 2 250 550 300 300 Year 3 300 300 300 300 Year 4 4 800 3 900 300 4 800 4 200 300 4 800 4 500 300 4 800 4 800 300 There is a one time depreciation expense adjustment If the payables system has not already done it manually clear the cost adjustment amount Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adjusting Assets ADVANCED Chapter 8 Page 37 Performing a Mass Change on Assets Using Mass Change Mid month Current month prorate convention prorate convention Units of production Units of production Capacity 100 000 Capacity 150 000 AEN Making Changes to More Than One Asset Sometimes a change applies to more than one asset This can be a change in the prorate convention the depreciation method or the life rates capacity and unit of measure for the method Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved E
152. lations 4 Journal Entries Tax Submit Request 1 Click View gt Requests fee SUbMIt a N ew REQUEST ieie rire eere r ee ree ee ee ele ee ee ee A k What type of request do you want to run This allows you ta submit an indwidual request Request Set This allows you to submit a pre defined set of requests 2 Select Single Request or Request Set then click OK Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Viewing Asset Information Chapter 4 Page 15 Note Single Request should be selected unless you have specific permission to run a Request Set Request Sets are extremely demanding on system resources and running them must be planned carefully Fin d egu Specific Requests Request ID Name Date Submitted Date Completed Status Phase Requestor Order By Submit a New Request TA 3 Click the Submit a New Request button Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Viewing Asset Information Chapter 4 Page 16 fest Submit Request Run this Request Name Parameters a i S a i i PEPE a i d i ii Ee a m d At these Times e cee As Soon as Possible Schedule Upon Completion 7 mj Save all Output Files GUE s Pin O 4 Inthe Submit Request window click the
153. lick the Asset Details tab Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 13 Asset Details Asset Actual Asset Name Book Asset Category Asset Key Number Units New Roof JUVA FA ZIEN 41 412 0000 NEW2 _ New Structure JUVA FA Bo 11 41 411 0000 NEW1 _ _ i E a 5 7 Choose the asset category from the appropriate LOVs Insure the appropriate ownership category is selected based on whether or not the item is owned or not and whether UVA UVA at Wise or SWVHEC is responsible for the asset UVA assets are classified as either UVA owned government furnished GFE government purchased GOVP non owned other Note UVA FA Book appears in the Book field by default The asset number will be generated automatically when the asset is posted to Fixed Assets The Units field does not default Usually the asset unit will be one UVA at Wise has similar ownership categories Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 14 Addt l Details ew Pumin j tee 8 On the Addt l Details tab you can enter the Parent Asset Number You can also add the Parent Asset Number on the Mass Additions Table after the
154. mation about the asset lines Note The Mass Additions Report REF 3501U will identify the contact person who will coordinate tagging the equipment with the FA Specialist Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Mass Additions Chapter 5 Page 19 The Mass Additions Additional Data Report provides you with the data needed to capitalize asset addition lines Some of the information that will be obtained for each mass addition asset line includes the following Voucher Number PTAO for each distribution line Fund Source Award Number There are three versions of the report assisting different departments They are e Mass Additions Report can be used by the Property Accounting Departments at UVA UVA Wise and SWVHEC in daily activities The primary select criteria of organization enables each location to select only those additions that pertain to their site s orgs e Mass Additions Report By Queue PO and Voucher can be used by any Property Accounting locations for dividing the daily additions work up by using the primary report criteria of Queue When items are placed on a particular queue to await further action this report becomes the ideal choice in printing out mass additions detail e Mass Additions Report By Voucher can be used by Property Accounting to trace mass additions information such as units invoice number
155. me Search Anonymizer Favorites History Edit General Equipment Policies e Frequently Asked Questions e Maintenance of Equipment Inventory POLICY 4 1 e Preparation of Equipment Inventory Change Request PROCEDURE 10 1 e University Collections POLICY X E 1 e Use of University Equipment POLICY V G 2 Surplus Property Disposal e Surplus Property Disposal section VII POLICY VII 4 6 Grant and Contract Equipment Grant and Contract Changes POLICY VIIIA 5 Lease vs Purchase Policy POLICY VIIIA 7 Property Management and Shared Use of Equipment POLICY VIII C 5 Overview POLICY VIII E 1 Property Included and Excluded POLICY VIII E 2 Acquisition of Research Equipment and Materials POLICY VIII E 3 Maintenance of Equipment Records POLICY VIII E 4 Equipment Title Disposition and Subcontracts POLICY VIII E 5 Equipment Screening POLICY VIII E 6 Transfer of Research Equipment From the University POLICY 4 2 Transfer of Research Equipment To the University POLICY X 4 3 Gift Equipment section Ix e Gift In Kind Policies POLICY IX 4 11 Intemet A summarized list of University policies and procedures pertaining to capitalized equipment and property can be found in the appendices to this manual Property Accounting Staff Contacts Property Accounting staff can be contacted for assistance as shown in the following table
156. mortize Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adjusting Assets ADVANCED Chapter 8 Page 44 Listing Adjustment Reports Using Reports lt a Reports Running Reports View or print the following reports after adjusting assets Also see Appendix B List of Fixed Assets Reports for report details e CIP Capitalization Report e Cost Adjustments by Source Report e Cost Adjustments Report e Financial Adjustments Report e Mass Change Preview and Review reports e Parent Transactions Report e Asset Reclassification Report e Asset Reclassification Reconciliation Report e Reclassifications Report Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adjusting Assets ADVANCED Chapter 8 Page 45 Summary You should now be able to do the following e Change descriptive information e Reclassify an asset e Adjust an asset s units e Adjust financial information for an asset e Perform a Mass Change to adjust a group of assets Adjusting Assets Adjustment Function Reclassification Changes the category for an asset Unit adjustment Changes the number of units for an asset Financial information Corrects an error or update financial information for a adjustment single asset Mass Change Changes the financial information for a group of assets These adjustments are automatically
157. mp eweName x ooo ooo d d oo ros XT o y l Buyer PX Vount fF o ax NenorName x foo ooo x moie f Xf ooo xy oo cte J x o o o a cot d xX FT Wis ae o o o mw ooo o o ax axy S awaa Of y ax axy Expend type ax o Expend Org X x ax Sponsor Award Xf Xf XX location o s l scmevre x o x lease Year J x X PODescription x EX Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Appendices FA Central Departments User Chapter 13 Page 2 Appendix 2 Asset Category DFF HT Asset Category Responsible Org E TEN SoCHEY Number APR Number ETF Lease Year C The Asset Category DFF records additional information about the asset For every asset the Responsible Org Inventory Taker and Inven Date and Time fields must be completed The other information is optional depending on the source of funds and 1f the asset is located off site This DFF also appears when adding assets from mass additions 1 Responsible Org REQUIRED FOR ALL ASSETS Is the organization that will be responsible for the asset In many cases it is the organization that purchased the asset The Org can be selected from the LOV 2 SCHEV Number REQUIRED FOR ETF ASSETS Is a four digit unique number for each asset from SCHEV indicating their approval 3 APR Number REQUIRED FOR ETF ASSETS The number of the University s request from SCHEV for reimb
158. n run the Create Journal Entries program to record period depreciation and other transactions to the general ledger You can run depreciation without closing the period and creating journal entries After you have reviewed the reports and journals you can rollback journal entries and depreciation When you have run depreciation without closing the period you cannot process any fixed asset transactions until you rollback depreciation Function Action Completing the depreciation period 1 Enter all transactions for the period 2 Run depreciation to close the period Recording depreciation 1 Create journal entries for the general ledger 2 Review unposted journal entries and post them in the general ledger Reconciling depreciation entries to the 1 Print reserve ledger reports general ledger 2 Print balance reports 3 Print transaction reports 4 Print drilldown reports Depreciating Assets The University of Virginia will depreciate its capital assets using the straight line STL method Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Depreciating Assets ADVANCED Chapter 10 Page 3 Method for Depreciating UVA Assets Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Depreciating Assets ADVANCED Chapter 10 Page 4 Depreciation Running IS Assets N Deprec
159. n screen to complete the split Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Mass Additions Chapter 5 Page 40 Mass Additions Delete Fixed Assets N Mass Additions Prepare Mass Additions B gt Find Mass Additions Summary 1 Use the Find Mass Additions screen to retrieve the mass addition line s you want to delete Mass Additions Summary o hs ta Thermo Finnigan LCO Ultra s E a mew ThemoFimniganLCQ Umas 1 1 new Axiovert 200 MOT E my 1 New 16 305 31 SERVICE FIXTURE 1 Add to Asset 2 Select the mass addition line that you want to delete and click Open Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Mass Additions Chapter 5 Page 41 ZE Wass Additions sly UVA FA BOOK Transaction Type 35340731 Category 31 51 527 0000 A Group Asset Employee Mame Employee Number Expense Account Location BET l iits 3 AUG 2003 P Depreciate png 55 11 Supplier Name GOV CONNECTION INC Supplier Number 146 PO Number Source Batch Project Number Task Number Create Batch Create Date 06 AUG 2003 Source System ORACLE PAYABLES Invoice Date 27JUN 2003 Clearing Account 27 102204 2035 1743 20370 0000 Comments Project Details Assignments j Cancel 3 Key the word DELE
160. n this screen or on the tab screens Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 18 Asset Information Asset Name New Plumbing Asset Number NEW3 Description LUM Praec Aces ype Event Number Nya Estimated eas F 01 AUG 2004 Actual Bes 01 Estimated Units Actual Units Parent Asset Estimated Cost serial Number Tag Number Product Source Source Reference Employee Name Employee Number Manufacturer Po Model Number m Capital Hold mi Depreciate E Amortize Adjustments Bites E isi 90 421702 5010 8584 99999 0000 E Assign Button Assign opens up a screen where the asset can be assigned to a project or task UVA uses the common task option and does not assign cost to assets by task or project Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 19 ih ee Assign Asse P Assign m Jo Project m Jo Task Top Task l Tap Task Task Name Copy Button The Copy button is new Copy opens a screen where you can copy an asset and change the copied information This is helpful where some of the asset information for different assets remains the same Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04
161. nCapital UVA Non Owned Equipment equipment that is not owned by UVA Eq Capital Voice amp Data Eq NonCapital Voice amp Data Equipment for facsimile transmitters switchboards telephones teletypewriters and similar equipment Eq Capital Watercraft Eq NonCapital Watercraft Equipment for amphibious craft boats diving bells rafts ships and similar watercraft equipment Exp Credit Capital Equipment Exp Credit Equipment Reimbursement for expenses Originally charged to any expenditure type within the equipment categor Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Appendices FA Central Departments User Chapter 13 Page 12 New CIP Expenditure Types GM Expenditure Type New Asset Clearing Account Object Code Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Appendices FA Central Departments User Chapter 13 Page 13 Appendix 6 Equipment Inventory Change Request This document can be found online in the UVA Forms Directory at http uvaforms virginia edu property equip inv chg pdf UNIVERSITY OF VIRGINIA EQUIPMENT INVENTORY CHANGE REQUEST OFFICE USE ONLY SECTION A TRANSACTION IDENTIFICATION aE TRANSFERS Attach justification letter if transfer to another agency or institution Pt pomm id OOCSY TE Jeccaton intadeparmenta _ SSsS CS S CCOCOCOCOC
162. nal Entries and Manual additions of Assets to clear all the outstanding Object codes Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Reconciling Assets Data ADVANCED Chapter 12 Page 15 Summary You should now be able to do the following e Reconcile Fixed Assets to General Ledger e Use standard reports to reconcile mass additions and CIP additions e Identify which columns should match when reconciling various reports Reconciling Assets Data Verify information in Fixed Assets with information transferred or received from other applications such as General Ledger Accounts Payable and Grants Management that currently integrate with Fixed Assets Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Reconciling Assets Data ADVANCED Chapter 12 Page 16 Appendices FA Central Departments User Chapter 13 Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Appendices FA Central Departments User Chapter 13 Page 1 Appendix 1 Mass Additions Report Structure The Mass Additions Report is structured and populated as described in the following table Manually added to VERS Populated Populated Add to Asset Mass Additions on Mass Table Source From From From Report Field Add Table DFF line DFF AP PO Mma a E Q a
163. nistrator responsibilities In the event these actions are required you should call Accounting Services and ask for the help of an employee who has the GM Administrator responsibility Refer the person to this document for specific information on how to complete the forms erin d P rojects A1000 Recto Bo ard of Visita I an Project Key Member Search Pro jects Templates REE Nurmber Nurber Mame Fole Long Mame Type Organization status Ciamar Product Source Rama source Reference number Relationship Classification Category Class Code 1 Select the capital project Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 23 zE Projects Templates Summary 41000 RectonBoard of gisitors B 103686 103686 ees ees EE E Xa Number Name Project Type Description Status Organization i MB General Plant F Capital General Plant Approved 20045 MB Budget Offic _ __ E EE es Ss es C T A C LJ es _ __ E Ee EE Ee EE S eee es a as ss _ Ts _ E 2 Open the capital project fax Projects Templates 41000 Rectonboard of Visitors i 103686 Capital MB General Plant Fd 30_JUN 2026 ae ee hr a er ie el General Plant Funds Number Hame Type Organization Long Mame Trans Duration status Description it Fund M Public Sector T S i
164. niversity of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 8 Integrating with Fixed Assets Integrating Grants Management with Fixed Assets Group asset costs Review asset lines i ny io f lt Grants Management Run Interface Assets progran Interface table in Oracle Projects Leche desl tle Pole Ed __ Asset lines sent giy ey a gois Running the Interface Assets Process You use the Interface Assets process to send all information except the asset name and estimated date in service to Fixed Assets e It merges asset lines into one mass addition line with a MERGED status for each asset e The mass addition line is displayed as a merged parent in the Prepare Mass Additions Summary window in Fixed Assets with a description similar to that in Grants Management and a cost of zero e Grants Management sends the capitalized asset costs to Fixed Assets by creating lines in the FA MASS ADDITIONS interface table e You can specify additional information for the capitalized assets in the Prepare Mass Additions form in Fixed Assets Adding the parent asset number is an example of additional information you may want to add Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 9 Integrating with Fixed Assets Posting Mass Additions e Use the Post Mass Additions proc
165. nsfers Plant Funds will determine if the project is a new project that requires a parent asset or if itis a project that will be added to an existing building asset For new buildings Plant Funds will determine if the building will be capitalized as one asset or in components of 2 or more assets The costs for a building may be separately capitalized as building structure roof building systems etc If the building will be capitalized in components Plant Funds will establish a parent asset with zero cost using Quick Additions in Fixed Assets For the parent asset Plant Funds will record the tax parcel ID number the E and G designation and the street address The parent asset numbering convention is to use the four digit UVA building number as the parent asset number Plant Funds will create an asset for each component when the building is completed The appropriate costs will be assigned to the different building assets When the assets are interfaced to the Fixed Asset mass additions table Plant Funds will assign each asset to the building parent asset This will facilitate reporting the building costs by component and in total Building assets will also use the unique Project and Fund Source values for the expense account Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 3 Creating Building and Related Assets From Capital Projects
166. nt Done Cancel 9 Click in the Method field of the Depreciation tab Asset Number LAA Reference Number Book A BOC Comments Financial Information Current Cost YTO Depreciation Original Cost Accumulated Depreciation G salvage Value Type salvage Value Percent Yo salvage Value Recoverable Cost 0 0 Revaluation Ceiling Net Book Value Revaluation Reserve Depreciation Method M Depreciate Method Date in Service H9JAN 1975 OO Life Years Ei Frorate Convention EQUIP CONV Months Prorate Date 01 JAN 1975 Amortization Start Date Bonus Rule Amortize Adjustment Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adjusting Assets ADVANCED Chapter 8 Page 12 10 Choose the desired depreciation method from the LOV Change Life Years if necessary then click Done Note The message line on the status at the bottom left of the screen should confirm that your changes have been saved and provide a reference number Rules About the Transaction Date If Reclassification Is Entered The Transaction Date Is Before the current open period The first calendar day of the open period After the current open period The last calendar day of the open period Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adjusting Assets ADVANCED Chapter 8 Page 13 Assets Mass Reclassi
167. o CiS ser EE anime onmGdunaGarses mead da tas nasen deceeasausasemienlatceads ondaapoumeanseats 6 2 Creating Building and Related Assets From Capital Projects cccccccccccsssssssssseeeeeeeeeeeeeeeeeeeeeeaeaaeaenssseeees 6 3 Tracking Capital Projects in Grants Management c ccccsececccecccccceeceaeessessseeeeeeeeeeeeeeeseeeeeeaaaaaeasneeeeeeess 6 5 Capital Projects Flow INt6 oration sssrin ore scebe asians SR 6 7 Capital Projects Flow Integration Mass Additions ccccccceecccceccccceeceaeseeseseeeeeeeeeeeeeeeeeauaaassenseseseeeeeess 6 8 Iitesratine with FIXed ASSES muirir antes esate vevtent EE S detanee ca Geueecei ice cwuet ti tenakne vaste sOuusustenceueendouess 6 9 Capitalizing Defining Capital Assets in Grants Management sssscecceeccceeeeeeeeeeeaeaeesesseeeeeeeeeees 6 11 Capitalizing Setting Capital Project for Common TaskS ccccccccccsssssssssssseeeeccceeeeceeeeesaaaseseeseeeseeeeees 6 23 Genc ritina Asser TS Se eins se tak tare a ies castes ctudnes Anadis ot sate EE E E E i 6 27 Sending ASSE LINES LO Eed ASSES ii ar cats as a a N acess bea aerate nando een 6 28 Capital zine Generating Asset Lines sie duecerdtceced hc tas sets ee dses en dedeunccunte Dorwantesecctanenenacacsveecuceate ceeceeaeis 6 29 Reyer ine and Captan 256 essa ctavungs neces a rita wa tat a a tewh cede bra inwust na cneametaeuseade resent 6 33 Capmal zine ReEversins Capital ASSE Sna tases a A dete aera eeu tues a 6 34
168. of the retirement Reinstating with a PENDING Status e Select Undo Retirement to delete the retirement transaction e No journal entries are created and there is no audit trail Reinstating with a PROCESSED Status e Select Reinstate to create the reinstatement transaction e When you run the Calculate Gains and Losses program IS Assets creates journal entries to reverse the effects of the retirement Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Retiring Assets Chapter 11 Page 27 Reinstating Assets Correcting a Reinstatement Error e If you made a mistake reinstating a retired asset find the reinstatement by using the original retirement number e Select Undo Reinstatement Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Retiring Assets Chapter 11 Page 28 Recording Prior Period Reinstatement Recording Prior Period Reinstatement Prior Period Reinstatement Entries Scenario e In Year 2 Quarter 1 you retired a 4 000 asset e The asset had a four year life and used the straight line depreciation method e In Year 2 Quarter 3 you reinstate the asset Entry to Reinstate the Asset and Calculate Depreciation Asset Cost 4 000 Depreciation Expense 250 Depreciation Expense adjustment 250 Accumulated Depreciation 1 750 Gain or Loss 2 750 Prior Period Reinstatement
169. ogram creates this transaction type when copying reinstatement transactions into a tax book Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Appendices FA Central Departments User Chapter 13 Page 6 Appendix 3 Transaction Types RESERVE ADJUSTMENT The Tax Reserve Adjustments window creates this transaction type when you change an asset s depreciation reserve in a tax book REVALUATION The Mass Revaluation program creates this transaction type when you revalue an asset TRANSFER The Assignments window and Mass Transfers program create this transaction type when you transfer an asset TRANSFER IN The Assignments window the QuickAdditions window and the Mass Additions Post program create this transaction type when you initially assign new assets to general ledger accounts locations and employees TRANSFER IN VOID The Assignments window creates this transaction type when you change general ledger accounts locations or employees in the period you added the asset It voids the original TRANSFER IN by changing the transaction type to TRANSFER IN VOID and creating anew TRANSFER IN transaction with the updated distribution information TRANSFER OUT The Assignments window creates this transaction type when you use it to complete a partial retirement by units UNIT ADJUSTMENT The Assignments window creates this transaction type when you use it to complete a
170. oject and Organization of the added cost s different depreciation expense account The added depreciation expense account will have an assignment unit that reflects the pro rated amount of the total cost for the asset For example if the added cost is 33 of the new total cost the assignment should be 67 original depreciation account and 33 new depreciation account Undo an Addition to an Asset Before Posting 1 Find the mass addition s for the transaction you want to undo in the Find Mass Additions window 2 Select the cost adjustment or HOLD queue you want to undo in the Mass Additions summary window 3 Click Remove Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Mass Additions Chapter 5 Page 28 Post the Addition to an Asset IS Assets N Mass Additions Prepare Mass Additions B gt Find B Open Mass Additions Es Wass Additions sou UVA FA BOOK APOST Transaction Type ae 0340731 Line Mumber W Category l Group Asset Employee Mame Employee Number Expense Account i Location l BE e 06 AUG 2003 Siig 955 11 Source Supplier Name GOV CONNECTION INC Supplier Number 146 PO Number Source Batch ProjectNumber TaskNumber Create Batch Create Date 06 AUG 2003 Source System ORACLE PAYABLES Invoice Date 27 JUN 2003 Clearing Account 27 102204 2035 1743 20370 0000 Comments Project Details i
171. ooks Listing listing is sorted by asset number Assets Not Assigned to Any To find assets not assigned to any cost centers The listing is Cost Centers Listing sorted by book and asset number Diminishing Value Report To view all assets using a diminishing value depreciation method a flat rate method that uses the net book value as the calculation basis Expensed Property Report To find all your expensed assets These assets are classified under noncapitalized asset categories Fully Reserved Assets Report To find the assets that became fully depreciated in a range of accounting periods Nondepreciating Property To locate a nondepreciating property The Depreciate check Report box is clear in the Books window Production History Report To review the production amounts for units of production assets each period The report sorts by unit of measure asset number and the production start date Depreciation Projection Report To review projected depreciation expense for assets The report is sorted by cost center expense account and total depreciation for each balancing segment What If Depreciation Analysis To display and analyze depreciation projection data based Report on hypothetical depreciation parameters Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Depreciating Assets ADVANCED Chapter 10 Page 16 Effective 5 3 04 Monthly Journals UVA Assets generates the
172. or every asset the Responsible Org Inventory Taker and Inven Date and Time fields must be completed The other information is optional depending on the source of funds and if the asset is located off site This DFF also appears when adding assets from mass additions 1 Responsible Org REQUIRED FOR ALL ASSETS Is the organization that will be responsible for the asset In many cases it is the organization that purchased the asset The Org can be selected from the LOV Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Viewing Asset Information Chapter 4 Page 7 2 SCHEV Number REQUIRED FOR ETF ASSETS Is a four digit unique number for each asset from SCHEV indicating their approval 3 APR Number REQUIRED FOR ETF ASSETS The number of the University s request from SCHEV for reimbursement for the asset s purchase Many assets will have the same APR Number This is a three digit number 4 ETF Lease Year The year number assigned to the purchase Most purchases in one fiscal year will have the same number This is a two digit number 5 Sponsor Funding Award The sponsor funding award number must be completed for assets funded from sponsored programs The number can be selected from the LOV 6 Condition Code This indicates the condition of the asset The values can be selected from the LOV Good condition is the default value for new assets 7 In
173. original ADDITION by changing the transaction type to ADDITION VOID and creating a new ADDITION transaction with the updated financial information ADJUSTMENT The Books and Mass Change windows create this transaction type when you make changes to an asset s financial information after the period you added it The Mass Copy program creates this transaction type when copying adjustment transactions into a tax book The Mass Additions Post program creates this transaction type when you perform cost adjustments by adding mass additions lines to existing assets CIP ADDITION The Books window the QuickAdditions window and the Mass Additions Post program create this transaction type when you add a CIP asset The Mass Additions Post program creates this transaction type when you perform cost adjustments by adding mass additions lines to new CIP assets Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Appendices FA Central Departments User Chapter 13 Page 5 Appendix 3 Transaction Types CIP ADDITION VOID The Sources window creates this transaction type when you change the cost of a CIP asset in the period you added it The Mass Additions Post program also creates this transaction type when you perform a cost adjustment to a CIP asset in the period you added it by adding a mass addition line IS Assets voids the original CIP ADDITION by changing its transaction type to CIPA
174. oss IS Assets creates journal entries to the loss accounts e To use a single gain or loss account enter the same account for each of the gain and loss accounts The net effect is a single gain or loss journal entry Recording Retirement Journal Entries Scenario e You place an asset costing 4 000 in service The depreciation method is straight line with a four year life e In Year 3 Quarter 3 you sell the asset for 2 000 The removal cost is 500 e The asset uses a retirement convention and depreciation method that allows you to take depreciation in the period of retirement e Use a single gain or loss Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Retiring Assets Chapter 11 Page 22 Recording Retirements Recording Retirement by IS Assets Depreciation Expense Accumulated Depreciation Proceeds of Sale clearing account Removal Cost clearing account Gain or Loss Asset Cost 250 2 500 2 000 500 250 4 000 Recording Retirement by IS Receivables Accounts Receivable Proceeds of Sale clearing account Recording Retirement by IS Payables Removal Cost clearing account 500 Accounts Payable 500 Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Retiring Assets 2 000 2 000 Chapter 11 Page 23 Effective 5 3 04 Recording Retirements Recording Retirement Depre
175. pen period period Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Manual Additions Chapter 3 Page 14 Recording Asset Additions Recording Asset Addition Asset Additions Journal Entries e Scenario Anew asset is purchased for 1000 in Year 1 Quarter 1 The depreciation method is straight line and the life of the asset is five years Journal Entry to Add an Asset Asset cost 1 000 Asset clearing 1 000 Depreciation Entry for Year 1 Quarter 1 Depreciation expense 50 Accumulated depreciation 50 Asset Additions Journal Entries The graphic shows the journal entries for adding and depreciating an asset For all manual additions you must clear the clearing account by entering the same amount for the cost and clearing accounts so that the journal entries net to zero Select the appropriate credit when debiting the asset clearing account For non owned assets use the asset clearing account Object Code 1737 Run the depreciation program to close the book at the end of the accounting period Then use the Create Journal Entries program to prepare journal entries for the transaction s during that period Note The concurrent manager runs the concurrent processes in the background Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Manual Additions Chapter 3 Page 15 Summary You should
176. pense accounts or locations 2 Click Assignments 3 Update the transfer date as needed If you transfer an asset during the period in which it was added the transfer date automatically defaults to the asset s date placed in service and you cannot change it 4 Inthe Unit Change field enter a negative number for the assignment line from which you want to transfer the asset Enter a positive number if you want to add units to existing assignments or create new assignments Only one negative line is allowed per transaction 5 Enter the new employee name expense account or location for the new distribution Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Transferring Assets Chapter 9 Page 4 6 When the Units to Assign field displays zero save your changes Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Transferring Assets Chapter 9 Page 5 Assets Mass Transfer IS Assets N Mass Transactions Transfers Mass Transfers Mass Transfers Wass Transfers shred a UV Category 01 JAN 2004 Run Request Number e a Transfers Transfer Fram Tra nster To Expense Account Location Sehr Sabato Larry J Shuler Lisa W Employee Number 1 429 3 30552 Preview 1 Inthe Mass Transfers window click the LOV icon to select UVA FA BOOK 2 Update the transfe
177. pment Individuals who have the Fixed Asset Viewer responsibility can retrieve information on their departments capitalized equipment from the Operational Data Store ODS with Discoverer reports e Stay current on equipment policies and procedures by Reviewing the property accounting web site http www virginia edu finance finanalysis prop html Calling or emailing Property Accounting staff with questions email property virginia edu Phone contacts appear later in this chapter Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Fixed Assets Central Department User Chapter 1 Page 7 Annual University Level Reports Accurate Equipment Data is Crucial The Property Accounting Office must provide annual input to a variety of university level reports independent of the inventory process The accuracy of equipment information may have a positive or negative impact on allocation of equipment resources from the state participation in some sponsored programs or the overall assessment of the university s fiscal health The list below identifies the major annual reports which require continuously accurate information on departmental capitalized equipment e Sponsor Annual Report in September of each year e Annual Report to SCHEV in October of each year e Final Sponsor Property Reports e Annual Report to Budget for ETF Allocation Analysis e Annual Financi
178. pyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Fixed Assets Central Department User Chapter 1 Page 5 Property Contact Responsibilities Departmental Property Contacts have 3 primary responsibilities e Provide information to the Central Office Property Accounting Staff for ALL equipment related activity e Review equipment inventory reports discussed in Chapter 3 to ensure that their organizations equipment is properly accounted for e Stay current on equipment policies and procedures Departments will use the Form P 1 Equipment Inventory Change Request example in Chapter 5 Form 1 to notify Property Accounting of all equipment related events such as Equipment location has permanently changed Equipment has been assigned an off grounds location Equipment is missing Equipment has been disposed of or destroyed Departments through their Property Contacts FA Viewers will e Provide information to the Central Office Property Accounting Staff on all equipment related activity e Assist in performing the biennial inventory of University equipment Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Fixed Assets Central Department User Chapter 1 Page 6 Role of the Property Contact e Review equipment inventory reports to ensure proper accountability for their organizations equi
179. r E Account Ana lya s Report T Ending balance tenga EN matches lL D E A Depreciation anount T Fixed A Assets Joumal Entry l Reserwe Ledger L Using Reports to Reconcile Depreciation Expense Accounts e Use the Journal Entry Reserve Ledger Report to find out how much depreciation expense Fixed Assets charged to a depreciation expense account for any accounting period e Reconcile depreciation expense with the General Ledger Report or the Account Analysis Report Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Reconciling Assets Data ADVANCED Chapter 12 Page 11 Reconciling Mass Additions Reconciling a Mass Addition Additions by Cost Adjustments General Source Report by Source Report Ledger Mass Additions Unposted Mass Mass Additions Invoice Split Additions Delete Mass Additions Create Mass Additions Invoice Merge Using Reports to Reconcile Mass Additions Use the following reports to track mass additions from the time you import them from the accounts payable system to the time you post them in Fixed Assets 1 The Mass Additions Create Report provides a complete audit trail of the mass additions created by Accounts Payable The report shows all invoice line items that were split merged deleted placed on hold and prepared for posting 2 The Mass Additions Posting Report shows an audit trail of assets that wer
180. r date as needed This date must be in the current period 3 Specify the depreciation expense accounts locations or employees to transfer assets to and from IS Assets transfers all assets that meet the Transfer From criteria to the assignment specified under Transfer To Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Transferring Assets Chapter 9 Page 6 za a Mass Transfers Book UVA FA BOOK Mass Transaction Number Category Transfer Date 1 JAN 2004 Ee Comments Transfers Transfer Fram Expense Account Location Employee Name Employee Number 4 Click Preview to run the Mass Transfers Preview Report and view the expected effects of the Mass Transfer before you perform it Fixed Assets assigns a unique Mass Transaction Number to the transfer definition FS 1 Y rt ere ea Ea eal ame 1 Lie ate en Te ial ThE Oracle Applications UVA ist10 CRP1 Record l Attachrnents summanDetail ranster From Transfer To vocation o O meh ei Sabato Larry J Shuler Lisa W Employee Number i 27429 i o 130552000 Preview 5 Make a note of the value in the field Run Request Number and Transaction Number Then click View Requests Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Transferring Assets Chapter 9 Page 7 a
181. ration All rights reserved Effective 5 3 04 Manual Additions Chapter 3 Page 3 Adding Assets Using the Books Window Enter financial information in the Books window Using the Assignments Window Enter distribution information in the Assignments window Using the Source Lines Window Enter purchasing information as needed in the Source Lines window Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Manual Additions Chapter 3 Page 4 Additions Detailed Additions Fixed Assets N gt Assets Asset Workbench B New Asset Details Entering Descriptive Information Find by Asset Detail Asset Number Description Tag MNurnber Category Serial Number Asset Key Warranty Number Asset Type 1 Click the New button on the Find Assets screen Ee As set Details Asset Number Ii Be Scanner desktop Tag Number pil SEE 11 91 927 0000 oeral Number Asset Key Asset Type Units Parent Asset Description Manufacturer k Model Warranty Number Lease Number Description Lessor min Use Mlin Physical Inventory Property Type GE i Ownership Froperty Class 124 Bought mource Lines Continue Cancel Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Manual Additions Chapter 3 Page 5 2 Enter the Asset Number Then key the same number into the Tag Number field The Asset N
182. reen shot Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 45 EE Asset Category REE eet ee k Responsible Org 10010 PR Board Office SCHE Y Number APR Number ETF Lease Year Condition Code Good Comments eg 2 Complete the Asset Category DFF Responsible Org is 99999 Off Site Address is street address can be blank EE asset Key Flexfield 1 Building Use E Educational and General EF Seen ACO76A 00010 4 3 Complete the Asset Key Flexfield Building use is selected from LOV Tax Parcel is free form can be blank 4 Click Done when the QuickAdditions form and the flexfields are complete HE Mote APP OFA dovhb Transaction saved sset number 555333 Referenc numbers 1459 70 143971 5 Click OK on the Note screen confirming addition of the asset Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 46 NOTE After the parent asset is posted The depreciate flag must be turned off to prevent depreciation If the depreciate flag is left on a warning message will be generated for that asset when depreciation is run Ass ats Find by Asset Detail Asset Number 555333 Description Tag Number Category a Serial Number fi Asset
183. rement Reports Report Name Purpose Retired Assets Without Retirement Shows retired assets without assigned Types Report types Asset Retirements by Cost Center Shows the asset retirements for each cost center for the book and period that you select with an asterisk next to reinstated assets Assets Retirements Report Shows the assets that you retired for the Book and accounting period range that you select Asset Disposals Responsibility Report Shows the assets that you removed from the cost centers through retirements and transfers and the location of each unit From To Period range you process it part of the mass retirement transaction accounting period range selected Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Retiring Assets Chapter 11 Page 34 Summary You should now be able to do the following e Fully retire an asset e Partially retire an asset by cost or units e Calculate gains and losses e Calculate depreciation for the period retired e Correct retirement errors e Retire and reinstate a group of assets Retiring Assets e You can now fully or partially retire an asset by cost or units or reinstate a retirement if necessary e Youcan use Mass Retirements to retire a group of assets e You can calculate gains and losses on your retired assets by processing retirements which also updates the retirement status Revised 4 6
184. ress Ctrl F11 All invoice lines in the New or ON HOLD queue will be displayed Normally merging is done only for the invoice lines that the parent was on e e aA 1696 7 Line Mu ner i Units pare Line Amount Merged Units 352 Total Merged Cost f Lines Merged 7 788 63 Reimburse for buying comp Cancel 5 Choose the line s to be merged into the merged parent by checking the Merged box to the left of the merged line and select Merge All from the Special menu The line s will be assigned to the MERGED queue The Total Merged Cost field will reflect the new cost 6 Save your work Ctrl S or click Done Note The depreciation expense account for each of the merged lines must be recorded in the Assignment screen of the merged parent The assignment should be split based on the prorated cost for the merged lines Undoing a Merge IS Assets N Mass Additions Prepare Mass Additions B gt Find Mass Additions Summary Note You can undo a merge before but not after posting the merged parent Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Mass Additions Chapter 5 Page 35 z Wass Additions Summary 2 BE NEW National chairs per specs and 10972681200 0 OOOO O 60 month rental Xerox D53 fz23 O o f 1 UB616R PLAPOG0X03 TIRFM 1 Thermo Finnigan LCQ Ultra 1 190160400 1 Thermo Finnigan LCQ
185. rging and Splitting Where an invoice line has a quantity of more than one and contains a fraction the merge increase units and split functions will have to be performed on the line For example 3 items may be charged to two distribution lines The invoice quantity will be 1 5 each for the two lines and the quantity on the invoice lines on the mass additions table will be 1 each for the two lines You will need to merge the two lines and then increase the units for the merged line to 3 After increasing the units to 3 for the new merged line you will split the line to generate 3 asset lines with a quantity of one each Merging and Splitting Functionality Step 1 Merge the freight Step 2 Split one invoice line into the truck line into three separate assets gt Cost 32 000 tem Cost Truck 90 000 Freight 6 000 Invoice Total 96 000 96 000 3 32 000 Cost 32 000 You can split a mass addition into which you merged mass additions Suppose you have an invoice with one line for three delivery trucks at 90 000 and another line for freight of 6 000 You want to split the freight equally among the trucks and track the cost of the trucks plus their proportionate share of the tax as three separate assets Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Mass Additions Chapter 5 Page 31 Merging and Splitting Merge the freight line into the t
186. rmation about the asset line such as equipment trust fund reference numbers voucher number the related number of units from the invoice and purchase order the PTAEO vendor information and delivery location A copy of the vendor report is automatically sent to Accounts Payable and Facilities Management so they can send the copies of vendor invoices to Property Accounting A copy of the report is included in the appendices to this manual Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Mass Additions Chapter 5 Page 6 UVA Mass Additions Report The Mass Additions Report structure is summarized and its sources of data described in the following table Manually Populated Populated added to to Asset Mass Additions on Mass Mass Add Source line From From From Report Field Add Table Table DFF DFF AP PO GM msaa ox O OO TTo o faueienane x pow x ix soos x sow it x wa o To www O O o e vewn x _ wwe fa o a p lt mwa O x C awad o d y a ax Expend type ax Expend Org XXX a ee a a E Delivery Location Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Mass Additions Chapter 5 Page 7 Using Create Mass Additions Using the Create Mass Additions in Fixed Assets Enter invoicein Charge distnbution to a Approv
187. ruck line for an invoice sum of 96 000 This amount represents the merged parent Split the merged parent line into three child lines each at 32 000 96 000 3 Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Mass Additions Chapter 5 Page 32 Mass Additions Merging Asset Lines IS Assets N Mass Additions Prepare Mass Additions B gt Find Mass Additions Summary Merge Mass Additions Fini asa UETA nn R EA EERE ARES Book Transaction Date Invoice Number Description Asset Number supplier Name PO Number Project Murmber Create Batch source System Comments Group Asset Employee Name Expense Account Revised 4 6 05 Mass Additions UVA FA BOOK ueue Transaction Type Line Murmber 43 Asset Key Category supplier Number source Batch Task Number Employee Number Location Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Chapter 5 Page 33 Effective 5 3 04 z Mass Additions E ioe Number oe SUMMA cossms NEW NEW Josrassm0 o per consent T e it He ueue i ALLL Isle aT ITT In a x Description Phase I Installation and parts National chairs per specs and 60 month rental Xerox DCS3 1 UB616R PLAPObOX03 TIRFM Thermo Finnigan LCQ Ultra S1 Thermo Finnigan LCQ Ultra S i Axiovert 200 MOT 16 305 31 SERVICE F
188. rve Ledger Report Report Date 18 FEB 1994 01 27 Book US CORP Period DEC 90 Page Oli 18 Company 01 Expense Account 7330 Reserve Account 1552 Date Placed Deprn Life Depreciation Year To Date Depreciation CC Asset Description In Service Method Yr Mo Cost Depreciation Reserve Percent 410 223 Sacramento Sa 09 SEP 1986 i 62 500 00 1 041 67 12 500 04 53 125 04 100 00 232 New York Sale 11 DEC 1988 25 000 00 416 67 5 000 04 10 000 04 100 00 242 Sacramento Sa 22 APR 1990 i 18 750 00 312 50 2 500 00 2 500 00 100 00 252 Sacramento Sa 23 JUL 1991 CC 410 Totals 143 750 00 1 770 84 20 000 08 65 625 08 226 New York Sale 23 JAN 1988 25 000 00 416 67 5 000 04 14 583 37 245 New York Carp 09 SEP 1990 37 500 00 625 00 1 875 00 1 875 00 249 New York Sale 10 MAR 1991 37 500 00 0 00 0 00 0 00 263 New York CVC 10 DEC 1992 3 125 000 00 0 00 0 00 0 00 268 Artwork New Y 22 JAN 1989 500 2 499 96 4 791 62 CC 430 Totals 9 375 00 21 249 99 269 Cabinetry New 23 JAN 1990 gt 00 6 875 00 6 875 00 CC 530 Totals 37 500 00 6 875 00 6 875 00 224 Sacramento Mf 24 OCT 1986 62 500 00 1 041 67 12 500 04 52 083 37 230 Sacramento Mf 24 JUL 1988 25 000 00 416 67 5 000 04 12 083 37 270 Cabinetry Sac 22 APR 1990 18 750 00 i 2 500 00 2 500 00 CC 540 Totals 106 250 00 1 770 84 20 000 08 66 666 74 Partial unit retirement Full retirement Transfer out Non depreciating asset Reclass Azam Using Reports to Reconcile Fixed Assets to the General L
189. s Chapter 7 Page 5 Capitalizing Adding Invoice Lines to Fabricated Assets IS Assets N Mass Additions Prepare Mass Additions B Add to Asset Add to Asset Add to Asset You add a mass addition line or a new invoice line to a CIP asset as a cost adjustment ES Fin d Mass Ad ditio ns 7 a UVA FA BOOK ueue Transaction Date Transaction Type Invoice Number Line Number Description Asset Key Asset Number Category supplier Name supplier Number FO Surber Source Batch Project Number Task Number Create Batch Create Date Source System Invoice Date Comments Group Asset Employee Name Employee Number Expense Account Location 1 Find the mass addition s for this transaction in the Find Mass Additions window Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adding CIP and Fabricated Assets Chapter 7 Page 6 k E hi cs Ad d itions 5 ummary Invoice Number D CME Tracker 2000 Multi use Panel system for Chemistry br lt i r its esl 2 Select the mass addition line that you want to add to an existing asset 3 Click the Add to Asset button Find by Asset Detail Asset Number CTG1 Description Tag Number Category SL Serial Number Asset Key 4 Find and select the existing asset to which you want to add the mass addition lines Note You can use criteria from any of
190. s General Report Ledger Batch total Debits Credits matches Fixed Batch total Assets Debits Credits Drill Down Report Account totals Line totals Debits Credits Debits Credits Account Drill Down Report Using Reports to Reconcile to the General Ledger When you run depreciation in Fixed Assets journal entries are automatically sent to the general ledger where you post the entries At the end of each month use the Drill Down and Account Drill Down Reports in Fixed Assets to reconcile journal entries with General Ledger s Unposted Journals Report as follows e Use the Unposted Journals Report in General Ledger to review unposted journal batches and associated journals before you post e Trace transactions back to the original source with this information Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Reconciling Assets Data ADVANCED Chapter 12 Page 4 Reconciling to the General Ledger e Use the Drill Down Report in Fixed Assets to list all journal entry lines and detailed information on the asset transactions for a particular journal entry batch e Use the Account Drill Down Report in Fixed Assets to obtain detailed information on the asset transactions represented by a journal entry line Reconciling Depreciation Journal Entries Reconciling Depreciation Entries Reports for Reconciliation GLOBAL COMPUTERS INC Journal Entry Rese
191. s Post asset Oracle Projects costs and Gear CIP Post CIP Cost Accounts Transfers Oracle G eneral Ledger Integrating in Grants Management e The majority of costs for capital projects will be from cost transfers initiated by Facilities Management Cost transfers to capital projects will use a CIP Expenditure Type that will track the costs as an asset instead of an expense e When the project is completed you create assets and enter a date placed in service to capitalize the CIP asset e You run the Generate Asset Lines process using the grouping method and defined levels to summarize all costs invoices labor expense reports and usages into asset lines e You assign the asset lines costs to the assets Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 7 Capital Projects Flow Integration Mass Additions Creating Mass Additions from Grants Management Run the Interface Assets Asset Lines Sent e E E _ Process aye Grants Capital po Management Assets g Lines Sent to Create assets from i ihvoice lines BA 5 Review invoice lines kisses i foes sts me A Creating Mass Additions The Mass Additions process can send capitalized CIP asset lines from Grants Management which initially builds the CIP assets collects costs from Accounts Payable and capitalizes the assets Revised 4 6 05 Copyright 2004 U
192. s Capitalize CIP Assets BC SErcCRee ie mO1JAN 2004 Asset Number Description IT T Pd a d d d rs a a es es es rs a a A Sr rs rr a ee rr N rr S rr N ee rr rr re a rr rr Ee a Ne a Nae Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adding CIP and Fabricated Assets Chapter 7 Page 9 1 Open the Capitalize CIP Assets window and find the CIP asset types 2 Enter the date you placed the asset in service 3 Select the CIP asset s that you want to capitalize by selecting the corresponding checkboxes Choose Check All from the Special menu to capitalize all the assets in the window 4 Click Capitalize Note If necessary use the Asset Workbench to override the depreciation rules redefaulted from the asset category You may capitalize assets in a single transaction in the asset addition period or in a later period Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adding CIP and Fabricated Assets Chapter 7 Page 10 Capitalizing Reversing the Fabricated Asset IS Assets N gt Assets Capitalize CIP Assets Capitalize CIP Assets q p ita Ze z A 5 ets ST a ae aa A A A gE PR a i ea A A A GR ee elelr e e e e e e e e e e e e e e e n E Haaa E01 JAN 2004 Description B EVETSE Capitalize How to Reverse the Capitalization
193. se already taken remains in the account associated with the old category Fixed Assets charges current depreciation expense according to the new category e Fixed Assets creates journal entries for the asset by using the accounts associated with the new category including the depreciation expense account segment Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adjusting Assets ADVANCED Chapter 8 Page 5 Reclassifying Assets e Fixed Assets lists the asset under the new category on forms and reports Some relevant reports include the Assets By Category Report the Asset Reclassification Report the Asset Reclassification Reconciliation Report and the Asset Category Listing Note If the new category has a different life the useful like must be manually changed to the new one Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adjusting Assets ADVANCED Chapter 8 Page 6 Assets Reclassifying IS Assets N gt Assets Asset Workbench Find Assets B gt Find Find Assets Assets Find by Asset Detail Asset Number oo Description Po o M ll OF Serial Number fi Asset Key o l Warranty Number oOo Asset Type Doo QuickAd ditions Find the Asset 1 Key the asset or tag number then click Find OTE Assign ments 2 Click Open Revised 4 6 05 2004 University of Virginia
194. service The asset is included in fixed assets and can be viewed as any posted asset before it 1s capitalized Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adding CIP and Fabricated Assets Chapter 7 Page 3 Overview You use Detail Additions to manually add CIP assets You can also use the Mass Additions process to add CIP assets from invoice lines On completion you capitalize CIP assets when you place them in service to begin depreciation You can later reverse the capitalization of a CIP asset if necessary Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adding CIP and Fabricated Assets Chapter 7 Page 4 Modifying CIP Assets Costs Modifying the Cost of CIP Assets QO 1 J Add a CIP asset Transfer invoice lines Building 1 Building 2 a AA invoice lines i s CIP asset Invoice 301 Invoice 301 Add noninvoiced Change invoice Capitalize a CIP asset costs line cost Balance Sheet Nov 21 1996 s Asset Cost Buildin XX Labor cost a Adding Invoice Lines e You use Mass Additions to add an invoice distribution line to an existing asset e You merge and split invoice lines before they are posted in Mass Additions Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adding CIP and Fabricated Asset
195. ss Additions Lines to Existing Assets Add amass addition line to an existing asset as a cost adjustment Choose whether to change the category and description of the existing asset to those of the mass addition Marking Unwanted Mass Additions for Deletion Assign unwanted lines to the Delete queue Generate the Mass Additions Status Report Assigning a Mass Addition Queue Posting NEW New mass addition line is Mass No created but not yet Additions reviewed or updated Create program ON HOLD and A mass addition that is You or Fixed user defined not ready for posting Assets hold queues waiting for more information Queue Name Definition Set by Ready for A new single unit line created by a split SPLIT A multiple unit mass Fixed Assets Cannot be addition line already split posted into multiple lines a split parent MERGED A mass addition line Fixed Assets Cannot be already merged into another line a merged child COST A mass addition line Fixed Assets ADJUSTMENT ready to be added to an existing asset POST A mass addition line ready to become an asset POSTED A mass addition line that a Cannot be has already been posted Additions Post posted and is now an asset program DELETE A mass addition line to be You Cannot be deleted posted Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Mass Additions Chapter 5 Page 13
196. ss Additions Summary Ri Find Mass Additions orror IAEA AIII eee UVA FA BOOK Sais Transaction Date i Transaction Type Invoice Number Line Number Description Asset Key Asset Mumber Category supplier Name supplier Number FO Number source Batch Project Number Task Number Create Batch Create Date source System Invoice Date Comments Group Asset Employee Name Employee Number CC Expense Account Location Ps pow Mass Additions Summary a a a E fomviwes f ONHOLD cisco 1501 ContentSenvcesl a f fess JON HOLD PMT head on 8 inch srac a oss i onnon pPerRL150 Controller teos 1 593981643 OOOO ONHOLD DPCTRL150 Controller LCDS a fse fi onnon _ DPCTRL150 Controller LCDS o 1547265 sd ON HOLD 1161A 10 L 10 MOHM 1 5 M F P a o O o o io ON HOLD Si02 equipment terranova gi 1593981639 1 ONHOLD DPCTRL150 Controller LCDS o E eee Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Mass Additions Chapter 5 Page 38 1 Open the Mass Additions Summary window and find the mass addition s for this transaction in the Find Mass Additions window 2 Select the mass addition line that you want to split In this example Invoice Number 2960 is selected Its Description is S102 equipment terranova with Units value of 2 APP OFA dovoo Split this ma addition APP OFA dovbo Wass addition
197. t defaults from the current cost The value is normally positive and can also be zero or negative CIP assets initially have a cost of Zero 3 Leave the YTD Depreciation field blank IS Assets calculates it automatically based on the date placed in service Note For existing assets IS Assets displays the YTD and accumulated depreciation 4 Tab to the Method field Salvage Value Revaluation Ceiling and Revaluation Reserve fields are not used at UVA Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Manual Additions Chapter 3 Page 10 5 The depreciation method defaults from the Asset Category you selected You can select another method from the LOV if needed Note This should be done only after consultation with the Property Accounting Manager 6 Check the Depreciate box to depreciate the asset Note Normally all assets should be depreciated Contact the Property Accounting Manager before you uncheck the Depreciate box 7 Specify the asset s date in service The current date appears by default if needed select a prior period from the LOV 8 The prorate convention and date appear by default based on the Asset Category IS Assets uses the prorate convention to determine how much depreciation to take in the first and last years of an asset s life Then it uses the prorate date to calculate the depreciation expense 9 Click Continue to go to the Assignmen
198. td Expense Account Location OOOO O Date in Serice P Depreciate Cost 325 91 Asset Details Asset Number Description K HALF NIPPLE WELE Tag Number si Asset Key Serial Number Units Asset Type Capitalized Parent Asset Wanufa cturer Model Number Lease Number Warranty Number Lessor 0 T In Use fin Physical Inventory o i o Property Class Bought Project Details Assignments j Cancel Navigate back to the Mass Additions screen When activated you can click the Project Details button to see Project information This takes you to the Asset Line Details screen Click Done when you have completed reviewing the information and you are ready to post the asset to Fixed Assets To view the merged line information place the cursor on the merged line and click the Open button You cannot change any information since that line is no longer active The cost associated with the asset is shown on the Merged line Except for the cost all the information on the Merged line has been added to the Post line For more information on merging lines see Mass Additions Merging NAV3473Z Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 43 Additions hi ass Transaction Type Invoice Number Category 31 51 527 0000 Group Asset Employee Mame Employee Number Expense Account 5 Locat
199. ted SED lt a Number Category Category SO 11 51 533 0000 m 40 H E J M H E E D 7 Click the button Books et Humber 1 17 18 Reference Mumber zeh MUVA FA BOOK Comments Financial Information Current Cost h YTD Depreciation Original Cost Accumulated Depreciation salvage value Type salvage Value Percent salvage Value Recoverable Cost Revaluation Ceiling Met Book alue Revaluation Reserve Depreciation Method l Depreciate Method Date in Service Life Years Prorate Convention Months Prorate Date Amortization Start Date Bonus Rule l Amortize Adjustment Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adjusting Assets ADVANCED Chapter 8 Page 11 8 Click in the Book field and Press Ctrl L or click the LOV icon The Asset Number field should already display the selected asset number et Number 11718 afe ioak UVA FA BO OK Comments Financial Information Current Cost 0 00 YTD Depreciation Original Cos 3999 00 Accumulated Depreciation Salvage value Type Value Percent E PE Salva qe alue 0 00 Recoverable Cost Revaluation Ceiling Met Book alue 0 00 Revaluation Reserve Depreciation Lir g Group Advan aS ei Method W Depreciate Method Date in Service 19 JAN 1975 00 Life Years Prorate Convention EQUIP CONV Months Prorate Date Amortization Start Date Bonus Rule l Amortize Adjustme
200. ter 13 Page 11 Capital Non Capital Expenditure Types Expenditure Type Description Eq Capital Office Furniture Eq NonCapital Office Furniture Equipment for bookcases desks chairs file cabinets lamps racks storage cabinets tables and similar office furniture Eq Capital Office Machines Eq NonCapital Office Machines Equipment for adding machines bookkeeping machines calculators drafting machines duplicating and photocopying machines posting machines transcribing and dictating machines typewriters weight scales and similar equipment Eq Capital Other Comp Equ Eq NonCapital Other Comp Equ Equipment for items used w microcomputers unit record equipment printers terminals card punches card readers control units disk drives key to tape amp key to disk converters plotters tape drives tape verifiers bursters decollators etc Eq Capital Photographic Eq NonCapital Photographic Equipment for blueprint equipment cameras enlargers lenses overhead viewers projectors screens splicers tripods and similar photographic equipment Eq Capital Power Eq NonCapital Power Equipment for power hedge clippers power mowers small power drills Small power sanders small power Saws routers and similar power repair and maintenance equipment Eq Capital Recreational Eq NonCapital Recreational Equipment for gymnasium park playground recreational center and similar apparatus and equipment Eq Capital UVA Non Owned Eq No
201. ter asset descriptive information such as asset number description or category as the search criteria e To find an asset by assignment enter assignment information as the search criteria such as employee name and location e To find an asset by source line enter invoice information such as supplier or invoice number Revised 4 6 05 Viewing Asset Information Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Chapter 4 Page 3 Fixed Assets Central Department User Chapter 4 Viewing Asset Information View Assets Window Lines Transaction Depreciation Cost History History History Transaction Detail Using the View Assets Window e You use the View Assets Window only to view the financial information of an asset online and to print reports You cannot update information in the inquiry windows e You can view the following information types Information Type Example s Assignment Employee name and number expense account location Source Lines Invoice number supplier name and number amount Transaction History A summary of all the transactions performed on the asset Depreciation Year to date depreciation expense History Cost History Invoices Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Viewing Asset Information Chapter 4 Page 4 Fixed Assets Central Department
202. th capitalized equipment expenditure types that have been processed to the GL but have not been processed by Fixed Assets and are not on the mass additions table 2 Manually added assets posted to Fixed Assets that have not been cleared from the asset clearing account through a manual journal entry 3 Manual journal entries processed to the GL that were not reflected in Fixed Assets This could be the result of someone mistakenly using an asset clearing object code in the journal entry Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Reconciling Assets Data ADVANCED Chapter 12 Page 13 Reconciling UVA Asset Clearing Account Cost Transfer Report For Equipment Clearing Accounts generated from AP invoices Cost Transfers and Manual Reconciling the UVA asset clearing account involves retrieving and analyzing information from two Pre Defined Reports in Discoverer and from the Fixed Assets module s Mass Additions Summary window Basically this is a process of retrieving all the mass additions data by Object Code and comparing the results of the reports to find whatever discrepancies exist unmatched Object Codes Then the user must determine the cause of the discrepancies and correct them where necessary The steps recommended for performing this reconciliation are Oracle Discoverer Asset Clearing Account Recon Report DIS IOl
203. tion passed from the Accounts Payable Purchasing module such as invoice and purchase order numbers vendor and the PTAO that paid for the equipment Classifying Assets UVA assigns each equipment item to a category The equipment category includes these three segments e Ownership classifies the asset as belonging either to UVA or UVA at Wise and whether or not the University owns it Some equipment titles are retained by sponsors of research and are not owned by the University e Major category classifies assets in major groupings such as equipment versus buildings e Minor category classifies the asset by detailed type such as microscope versus laser Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Fixed Assets Central Department User Chapter 1 Page 12 Viewing and Reporting Departmental property contacts will use Discoverer reports from the Operational Data Store ODS to see information necessary for participating in the inventory process and monitoring capital equipment The chapter in this manual titled Viewing and Reporting Methods will provide details on using Discoverer reports Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Fixed Assets Central Department User Chapter 1 Page 13 Managing Assets Introduction Chapter 2 Revised 4 6 05 Copyright 2004 University of
204. tion will be available populated from the scanner Cost is populated from the invoice line Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Mass Additions Chapter 5 Page 16 Posting Mass Additions Posting the Mass Additions 3 Post Mass Additions H 4 4 Run the Mass New assets Reports Additions created Post program Using Mass Additions Post Run the Post Mass Additions program from the Standard Request Submission Note Posting mass additions is a nightly process Queue Name Effect of Mass Additions Post Queue Before Post Name After Post POST Creates a new asset from a mass addition POSTED line COST Adds a mass addition line to an existing POSTED ADJUSTMENT asset as a cost adjustment SPLIT Mass addition line is already split no SPLIT effect MERGED Mass addition line is already merged POSTED NEW Creates a new mass addition line no NEW effect ON HOLD Mass addition line is on hold for more ON HOLD information no effect DELETE Mass addition line awaiting deletion no DELETE effect Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Mass Additions Chapter 5 Page 17 Listing Mass Additions Reports Using Mass Additions Reports Reports Running Reports View or print the following reports after adding assets from invoice lines e Delete Mass
205. tions Chapter 3 Page 6 10 11 12 13 14 15 16 17 18 Tab to Asset Type Asset Key field is not used for equipment Select Capitalized Expensed or CIP asset types In most cases you will select Capitalized Asset Enter the number of units The Fixed Assets module uses a default value of 1 Enter the parent asset number if you are adding a subcomponent asset Note Subcomponent assets are detachable components that are tracked and maintained separately from their parent asset number For example a monitor may be tracked as a subcomponent of the computer If a parent asset is selected the description will be displayed Enter the manufacturer and model of the item Tab to check boxes for In Use and In Physical Inventory Warranty Number field is not used at UVA Leave the In Physical Inventory check box clear if you do not want assets in a particular category to be included in physical inventory The property type and class for tax reporting purposes will appear by default based on the Asset Category Do NOT change the default value for ownership Ownership is determined by the Asset Category Click the Source Lines button if you need to enter purchasing information Choose Continue to record cost information Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Manual Additions Chapter 3 Page 7 Enterin
206. tries Standard Submit Request Creating Journal Entries You record depreciation and other asset transactions journal entries for GL by creating standard journal entries anytime after running depreciation for that period You create final journal entries only once for a period Submit Request Run this Request Ewe Create Journal Entries Se arameters ii oe SEUVA FA BOOK UVA FIXED ASSETS BOOK eyerl Sep 03 Cancel Ba cave all Output Files Submit Cancel 1 Enter the book and the period in the Parameters window using the LOV Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Depreciating Assets ADVANCED Chapter 10 Page 8 pow Submit Re que st Run this Request fei Create Jour neice TUVA FA BOOK SepO3 PE E American English sr At these Times Run the Job As Soon as Possible Upon Completion Rj save all Output Files ae Options Print to 2 Inthe Submit Request Journal Entries window create Journal Entries appears automatically as the Request Name Click Submit to submit a concurrent process that creates journal entries for the general ledger 3 Review the log file after the request 1s completed e IS Assets creates summary journal entries for each defined journal entry category and accounting flexfield combination while the journal entries are not yet posted e The journal
207. troduction Chapter 2 Page 3 Department Responsibilities Departments will continue to assist Property Accounting in performing the biennial inventory of University equipment However with the implementation of Fixed Assets staff who have the Fixed Asset Viewer responsibility have instant access to all pertinent information on capitalized equipment for which their departments are responsible Access to Fixed Assets information is available through self service applications IS s online inquiry functions Query Find for real time information IS s standard reports Discoverer for information in the Operational Data Store ODS Departments are still responsible for maintaining their equipment and notifying Property Accounting on a timely basis of the following events e Equipment location has permanently changed e Equipment has been assigned an off grounds location e Equipment is missing e Equipment has been disposed of or destroyed Departments will continue using the Form P 1 Equipment Inventory Change Request to notify Property Accounting of these events and request other changes as required The Form P 1 is available in the UVA Forms Directory at http uvaforms virginia edu property equip inv chg pdf Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Managing Assets Introduction Chapter 2 Page 4 Adding Assets Manually Using Detail Ad
208. ts reserved Effective 5 3 04 Mass Additions Chapter 5 Page 43 Listing Asset Addition Reports View or print the following reports after adding assets manually See the List of IS Assets Reports in the appendices for brief explanations of the reports e Additions by Date Placed in Service Report e Additions by Period Report e Additions by Responsibility Report e Additions by Source Report e Annual Additions Report e Asset Additions by Cost Center Report e Asset Additions Report e Asset Additions Responsibility Report e UVA Mass Additions Report Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Mass Additions Chapter 5 Page 44 Summary You should now be able to do the following e Use the Mass Additions process to add assets from invoice distribution lines in Accounts Payable e Prepare mass addition lines to become assets and cost adjustments Merge and split several mass additions e Post mass additions to generate assets and cost adjustments Delete unnecessary mass addition lines Adding Assets from Invoice Lines Mass Additions Process Step 1 Create Enter invoices in Accounts Payable or enter source information in any other feeder system Run Payables Accounting and Transfer processes in Accounts Payable to General Ledger Run Fixed Assets Create Mass Additions in Accounts Payable or use the interface from other systems to conv
209. ts screen and continue adding new asset information Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Manual Additions Chapter 3 Page 11 Additions Detailed Additions Entering Assignment Information IS Assets N gt Assets Asset Workbench B New B Continue B Continue Assignments Assignments ASSE cia Mila 0005 Reference Mumber tra UVA FA BOOK Transfer Date Distribution Set a Unit of Measure Total Units i Units to Assign o Change Employee Units Name Number Expense Account Location Gatlin Richard L 146571 20 101468 1120 7515 20060 0000 me 1 00100 CHARLO SS LS SS Cancel 1 Enter the asset unit for the first assignment in the unit change box Note the Units to Assign box keeps track of the units remaining to be assigned Fractional units can be assigned 2 Select the name or employee number of the person responsible for the asset from LOV 3 Enter the expense account The account can be selected from the LOV It is important to select the appropriate project and organization when completing the account The object code defaults to Depreciation expense Project 116632 a default account Fund Source 5505 Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Manual Additions Chapter 3 Page 12 Expense account string for gifts
210. tton to see more information about the transaction See Transaction Types REF3504U on the web for definitions of the types of transactions This reference is also available in the appendices of FA training manuals Note You can also select these transaction screens from the Transaction History function on the Navigator screen Transaction Types Common transaction types that populate the Transaction Type field of the Transaction History report are defined below ADDITION Asset added to Fixed Assets ADDITION VOID Transaction that changes an asset s financial information in the period it was added ADJUSTMENT Transaction to change an asset s financial information after the period you added it CIP ADDITION Fabricated equipment addition FULL RETIREMENT Transaction to fully retire an asset Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Viewing Asset Information Chapter 4 Page 12 RECLASS The asset s category was changed REINSTATEMENT Transaction to reinstate a retired asset TRANSFER Transaction that changes the asset s location responsible person or expense account TRANSFER IN Transaction that records the location and responsible person assignments for an asset Depreciation History N Depreciation History 1 i i i Seed gir a Depreciation Revaluation _ Period Expense Account Amount Amortization DEC03 _ 20 101
211. uction in Process Recording a Retirement and a Reinstatement IS Assets records retirement depending on the asset types and records reinstatement on all asset types Recording on Capitalized Assets IS Assets charges or reverses depreciation for the year retired It removes the asset cost and accumulated depreciation from the corresponding accounts It clears the proceeds of sale and the cost of removal It recognizes gain or loss from the retirement Recording on Construction in Process CIP Assets IS Assets removes the asset cost from the CIP cost account It clears the proceeds of sale and the cost of removal It recognizes gain or loss from the retirement Recording on Expensed Items IS Assets does not create journal entries for retirement of expensed assets Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Retiring Assets Chapter 11 Page 18 Recording Retirements Recording Retirement Calculating the Gain or Loss from the Asset Sale Retired Retired Sale Removal roceeds cost net revaluation E book value reserve Recording a Full Retirement with Multiple Retirement Accounts Accumulated Depreciation 2 750 Proceeds of Sale Clearing 2 000 Cost of Removal Gain 500 Net Book Value Retired Gain 1 000 Revaluation Reserve Retired Gain 250 Asset Cost 4 000 Proceeds of Sale Gain 2 000 Cost of Removal Clearing 500 Revised 4 6 05 Copyright 2
212. umber and Tag Number will always be the same 3 Enter a description of the asset Using mixed case initial capitals place the noun first and separate the descriptive word with commas EXAMPLE Microscope Electron 4 Enter the appropriate tag number For Government Furnished Equipment GFE use the GFE Tag number This number must be the same as the asset number Note Tag numbers cannot be duplicated 5 Choose the Asset Category from the appropriate LOVs Insure the appropriate ownership category is selected based on whether or not the item is owned or not owned and whether UVA UVA at Wise or SWVHEC is responsible for the asset UVA at Wise has similar categories Note UVA assets are classified as either UVA owned Government furnished GFE Government purchased GOVP Non owned other EE asset Cate gory Responsible Org me EEn structional Tech SlHEY Number cuum ETF Lease Year Li Condition Code 10 Good Inventory Taker Inven Date amp Time Of Site Address Comments eis ER hog ah EE aE E AE EE SE E E E CEE EEEE EEEF ee ee ee ee ee ee 6 Key or select required additional information in the Asset Category Descriptive Flexfield DFF shown in the preceding screen shot Note Responsible Org is a REQUIRED field 7 Key the serial number for the item Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Manual Addi
213. unt can be either positive or negative Entering Information in the Description Field Any additional information entered in the Description field in the Invoices Summary window in Payables appears in the Description field in the Mass Additions form in Fixed Assets The description Discount appears for any imported discount line distributions After you approve and post the invoice in Payables run Create Mass Additions to send valid invoice line distributions to Fixed Assets This is part of nightly processes that also generate the UVA Mass Additions Report Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Mass Additions Chapter 5 Page 9 Using the Mass Additions Process The Mass Additions Process 1 Create Mass Additions lc Accounts Payable Mass Additions holding area 2 Prepare Mass Additions a a_ fi Add Cost adjustment Merge Split 3 Post Mass Additions 4 Delete Mass Additions a i rm if Delete Purge Mass Additions Process Process 1 Create Run Create Mass Additions from Accounts Payable to copy invoice distribution lines representing potential assets into the FA_MASS_ ADDITIONS interface table in Fixed Assets From Grants Management run the Interface Assets process The UVA Mass Additions Report is generated It contains additional information for equipment to assist in adding the asset Prepare Us
214. ursement for the asset s purchase Many assets will have the same APR Number This is a three digit number 4 ETF Lease Year The year number assigned to the purchase Most purchases in one fiscal year will have the same number This is a two digit number Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Appendices FA Central Departments User Chapter 13 Page 3 Appendix 2 Asset Category DFF 5 Sponsor Funding Award The sponsor funding award number must be completed for assets funded from sponsored programs The number can be selected from the LOV 6 Condition Code This indicates the condition of the asset The values can be selected from the LOV Good condition is the default value for new assets 7 Inventory Taker REQUIRED FOR ALL ASSETS Is the individual adding the asset or who tagged the asset Select the employee s name from the LOV 8 Date and Time REQUIRED FOR ALL ASSETS Is the current date that the asset is being added or was tagged The date should be entered with day month year March 17 2002 would be 17 MAR 02 9 Off Site Address A free form field to record the location of the asset if it is not located in a University building Use this when the building is not in the LOV Follow the naming convention established by Property Accounting 10 Comments For information entered by the Property Accounting Office 11 Old Tag Number A fre
215. ventory Taker REQUIRED FOR ALL ASSETS Is the individual adding the asset or who tagged the asset Select the employee s name from the LOV 8 Date and Time REQUIRED FOR ALL ASSETS Is the current date that the asset is being added or was tagged The date should be entered with day month year March 17 2002 would be 17 MAR 02 9 Off Site Address A free form field to record the location of the asset if it is not located in a University building Use this when the building is not in the LOV Follow the naming convention established by Property Accounting 10 Comments For information entered by the Property Accounting Office 11 Old Tag Number A free form field to record the old tag number if a new tag number has been assigned Note The Old Tag Number field does not appear in the DFF for the Mass Additions table It appears only on the Quick or Detailed Additions and the Asset Category screens Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Viewing Asset Information Chapter 4 Page 8 Assignments es Assignments 81684 Emp Mame Emp Number Location illar Gosalvez Victor 125368 20 101902 1001 8585 20030 0000 0582 0 00000 Charlottesvill C l 4 From the Assets screen in step 3 click the Assignments button for information on responsible person expense accounts and location To see the description for the Expense Account or the
216. versity of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 37 Mass Additions Prepare for Capital Projects IS Assets N Mass Additions Prepare Mass Additions B Open Mass Additions Ps Fad gers SiC Gre Arene E ERE E E ET oe UVA FA BOOK ueue Transaction Date Transaction Type Invoice Number Line Number Description i Asset key Asset Number Category supplier Name supplier Number PO Number nog source Batch Project Number i Task Number Create Batch Create Date Source System Invoice Date Comments Group Asset Employee Mame Expense Account 1 Click Book to display the default UVA FA BOOK Click Find to display all the asset lines sent to Fixed Assets If you know it key the Project Number in the appropriate field and click the Find button This will retrieve only the assets for that specific project Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Capital Projects Chapter 6 Page 38 Mass Additions Summary Invoice Humber Undo Split Add to Asset 2 When the capital project asset lines are sent to Fixed Assets the lines are automatically merged into one line per asset and the new line s is put on the POST Queue You can review the Post lines by placing the cursor on the line and clicking the Open button You can also Navigate directly to Post Mass Additions
217. vised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Retiring Assets Chapter 11 Page 8 IS Assets N gt Assets Asset Workbench B Retirements B Subcomponents View Subcomponents E SE SE SE DO 1141 415 0000 L Fully Retire an Asset Subcomponents 1 Ifyou are retiring a parent asset click Subcomponents to view the subcomponent asset s affected by the retirement transaction To partially retire the asset you must separately retire these subcomponents 2 Click Done to save the transaction 3 IS Assets assigns each retirement transaction a unique Reference Number that you can use to track the retirement You can use this number to select a retirement for reinstatement later Note You can retire a zero cost asset Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Retiring Assets Chapter 11 Page 9 Partially Retiring Assets Partially Retiring an Asset By Cost e Enter the cost to retire e The cost change will not affect the unit amount IS Assets distributes the cost retired proportionally across all distribution lines e By Units e Enter whole numbers for the number of units you want to retire e IS Assets calculates the cost retired as the fraction of total cost for the units retired relative to the total number of units Retiring an Asset Partially e
218. w number of units NOTE If you are changing only the Units value you can go directly to the Assignments window by clicking Done However if you want to change values in other fields the Done button will change to read Continue when you tab to or click in any field other than Units 5 Click Done 6 The Assignments window opens automatically The new number of units to be assigned is shown in the Units to Assign box When all units have been assigned the number will be Zero Revised 4 6 05 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Adjusting Assets ADVANCED Chapter 8 Page 24 pee Assignments Invoice Number 532931 ee Line Number J Book Distribution Set Units Assigned Distributions Employee Employee Name orn Expense Account Location Gatlin Richard L 146571 20 101468 1120 7660 20060 000 0580 2 00210 CHARLOT Boyd Brenda B 114464 meL emineat 101468 1120 7660 20060 000 o260 2 00210 CHA 2 00210 CHARLOT Cancel 7 Enter the new number of units shown in the Units Remaining field to update the assignment When the quantity in the Units Remaining field is zero all the new units have been assigned Note You may add the increased quantity to an existing assignment line or you may enter a new assignment by starting a new line Note When you adjust the number of units in either single addition or mass additions
219. x p Eile Edit View Sheet Format Tools Graph Window Help l x QSESRA TOONASa wanna x O Cd e eme lw oF Asset Clearing Account Recon Report Summary a re Page Items Period Name Nov 02 w Period Number Account Type Entity Project Fund Source gt Object Code Organization Future Begin Balance SUM F gt 1 5 Asset 10 100305 1125 1736 20575 0000 100 SS 5 Asset 10 999999 9999 1736 20370 0o00 5348 3 5 Asset 20 102209 1111 1736 20370 0000 12 r4 5 Asset 20 102210 1111 1736 20370 0o00 98 5 5 Asset 20 102202 2035 11736 20370 loooo OC 36 gt 6 5 Asset 20 102204 2035 11736 20370 0o00 281 7 5 Asset 20 113831 2040 1736 31340 0o00 720000 8 5 Asset 20 114272 2040 1736 31345 0000 2727 9 5 Asset 20 112261 2070 1736 20370 0000 161 gt 10 5 Asset 10 100015 1002 1750 20430 ooo Ct 20000 11 5 Asset ho 101155 11115 1750 120020 10000 r neo Sheet 1 IK gt For Help press F1 NM 2 Revised 4 6 05 Copyright 2004 University of Virginia and Oracle Corporation All rights reserved Effective 5 3 04 Reconciling Assets Data ADVANCED Chapter 12 Page 14 Reconciling UVA Asset Clearing Account 1 Run the Summary Discoverer Report Asset Clearing Account Recon Report DIS Sort the report by Asset Clearing Account Object Code Determine the balance under each Object Code In Shy hai

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