Create Asset Master Record (AS01) - University of … · Web viewSAP Easy Access User Specific menu Select Inventory Tracking - AA Create Asset Master Record SAP Easy Access Generic

Work InstructionFunctional Area: Asset Accounting Create Asset Master Record (AS01)

Purpose Requisitioning - Project Creation and Management - Term Contract Release Order Processing - Financial Approver - Assets - Financial Processor - Assets - Inventory Tracking - Endowment and T.I.P. Management

Use this procedure to create an asset master record shell.

Prerequisites

None

Menu Path

Use the following menu path(s) to begin this transaction:

SAP Easy Access User Specific menuo Select Inventory Tracking - AA Create Asset Master Record

SAP Easy Access Generic menuo Select Accounting Financial Accounting Fixed Assets Asset Create

Asset

Transaction Code

AS01

Helpful Hints

The R/O/C column in the field description tables below defines whether the field is Required, Optional, or Conditional.

Optional fields not entered during asset shell creation can be entered when the data is known (i.e. Serial Number, Manufacturer, Extended Text, etc.) using transactionAS02.

For additional Asset Management information (i.e. Moveable Asset Class Examples) refer to the Asset Management web site: http://www.uc.edu/asset.

Asset Management will issue a UC Asset Inventory Tag only if the department has created the asset master shell and taken the proper steps to link the asset number to the value of the asset acquisition by entering the asset number(s) on the Purchase Requisition, P-Card, A114, etc.

For an explanation of Export Controls go to this website: http://researchcompliance.uc.edu/ExportControls/ExportControls.aspx

Moveable Asset Tracking/Audit/Grid:

Type of Asset Acquisition Capital/Non Capital Status

Need to Establish an Asset Record in the Asset Management System (UCAMS)

Required to be Audited by Asset Management

Asset Purchased by UC Capital (>=$5,000)* Required Yes

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Create Asset Master Record (AS01).udc© University of Cincinnati 1/24

https://help.ucflex.uc.edu/gm/folder-1.11.46607

http://researchcompliance.uc.edu/ExportControls/ExportControls.aspx

http://www.uc.edu/asset









Non-Capital (<$5,000)** Optional No Asset Transferred to UC Capital (>=$5,000)* Required Yes Non-Capital (<$5,000)** Optional* No Asset Gifted/Donated to UC Capital (>=$5,000)* Required Yes Non-Capital (<$5,000)** Optional No Assets on a Grant or contract (UC Titled)*** Capital (>=$5,000)* Required Yes

Non-Capital (<$5,000)** Conditional No Assets on a Grant or contract (Non-UC Titled)*** Capital (>=$5,000)* Required Yes

Non-Capital (<$5,000)** Required Yes

*Beginning FY11 (07/01/2010) the threshold for capitalizing “software” is $100,000 for

purchased software and $500,000 for internally developed software.

** Beginning FY11 (07/01/2010) the threshold for non-capital “software” is less than $100,000 for purchased software.

***Assets acquired, fabricated or government furnished under a grant or contract must

comply with all contractual obligations set forth by the sponsor, including (but not

limited to) establishing an asset record.

Asset Acquisition The Organizational Unit must notify Asset Management when the following asset status is to be established or changed:

-Constructed (Departmental)

-Gifted/Donated (Into UC)

-Purchased Assets (via A114 Request for Payment)

-Transferred In (From Outside UC)

Constructed (Departmental) Assets – These are fabricated assets constructed over a defined development period. Because these assets are not depreciated until capitalized, such assets are

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generally assumed unusable until fabrication period is complete. If any phase of a multi-phase project will result in an independent, functional unit once that phase is completed, the entire project must be treated as individual fabrications and each phase will be capitalized as completed.

-The Organizational Unit establishes the asset master shell using asset class 44200 (AuC – Departmental) and posts costs to this asset until the asset is completed and placed in service. While fabricating the asset, it is recognized that each individual component purchased could be less than $5,000, but at completion the total cost would be $5,000 or greater with a useful life of at least two years.

-Following the creation of the asset master shell, the Organizational Unit must notify Asset Management with the following information:

-Asset Number(s)

-Estimated Cost of Completed Asset

-Estimated Start Date of Construction

-Estimated End Date of Construction

-Once the asset is constructed and placed in service, the Organizational Unit must contact Asset Management again for assistance in setting up a new asset master shell in order for Asset Management to settle the cost from AuC to the real asset class. (i.e. 49106 Cap - Medical/Lab/Scientific, etc.)

-Capitalized cost and associated depreciation does not get posted to the university’s financial records until the settlement is made from AuC to the real asset, therefore it is important to notify Asset Management as soon as the asset is placed in service.

Gifted/Donated Assets – Gifts-in-kind support the mission of the University of Cincinnati and enhance the quality of the education offered to its students. Gifts-in-kind include tangible personal property (e.g. equipment, antiques, automobiles, etc.), intangible personal property (e.g. software, patents, copyrights. etc.) and real estate. In general, contributions are transactions in which one entity makes an unconditional voluntary transfer to another entity without directly receiving equal value in exchange.

Acceptance of any gift-in-kind requires a formal UC Agreementand the A-910 “Contract Approval Cover Sheet” routed to all concerned parties, including General Counsel for signature approval. Contact Asset Management for a copy of the “Agreement for Donation of Property to UC”.

Purchased Assets (via A114 Request for Payment) – On occasion an asset may be purchased by an employee and then reimbursed by completing the A114 form if approved by the Organizational Unit head. The unit must create the asset master shell; complete A114 form referencing the asset number, and submit this form to Accounts Payable.

Transferred In (From Outside UC) (including sponsored activity and loans from other agencies) Any property transferred in from outside UC requires a formal UC Agreementand the A-910 “Contract Approval Cover Sheet” routed to all concerned parties, including General Counsel for signature approval. Contact Asset Management for a copy of the “Agreement for Loan of Property to UC”.

Government furnished assets : Sponsored activity may result in the university obtaining use

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and/or ownership of equipment outside of the procurement process. Equipment may be transferred to UC along with a sponsored agreement. The sponsored agreement will list equipment that is being furnished for the project.

Loaned Assets : An asset loaned to UC should be inventoried and recorded in asset class 39700 – Non-UC Titled Non-Capital Assets or asset class 49700 – Non-UC Titled Capital Assets. Asset Management will assist the Organizational Unit in recording this asset in the Asset Management System so that it does not get added to UC financial records.

“Loaned” is defined as an asset given to UC for temporary use on the condition that it is returned to the lender, based on a time period and/or when a specific condition is or is no longer met, without any compensation.

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Procedure

1. Start the transaction using the menu path or transaction code.

Create Asset: Initial screen

2. As required, complete/review the following fields:

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Field R/O/C Description

Asset Class Required Each asset is categorized in an asset class which determines their useful life and depreciation schedule.

Example:49001

The Asset Class describes the type of asset such as Land, Land Improvement, Building, Moveable Equipment, etc. The Asset Class is also tied to a useful life for depreciation of capital assets.

Company Code Required Organizational unit within Financial Accounting

Example:UC

The company code is UC.

Number of similar assets Optional Number of similar assets that you want the system to create when you save the asset master record

Example:1

Enter the number of similar assets that you want to create asset master shells for. The system defaults to 1.

Reference Asset Optional Main number of asset used as a reference asset when creating a new asset

Example:21000005

A shortcut for creating multiple asset master shells for similar assets.

The Asset Class of the referenced asset must be the same as the asset class of the new asset(s) being created.

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Reference Sub-number Optional Sub Number of the asset used as a reference asset

Example:0

Sub-number will represent funding source(s) of asset. The first sub-number always defaults to 0.

Company code Required Organizational unit within Financial Accounting

Example:UC

Verify that Post-capitalization is deselected. It is controled by Asset Management.

3. Click the button .

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Create Asset: Master data



Description Required Text to identify and characterize an object or activity.

Example:Computer


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Long Texts

6. Click the button to create new long text.

Change Asset master general long text: UC INTERN-000010000 Language EN


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Microsoft Word Document

Optional Additional text about the item.

Example:Dr Lee's Computer

8. Click the button to return to the previous screen.

Exit Text

9. Click the Yes button .

Long Texts


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Unlabeled field (below the Description field)

Optional Used for additional information about the asset

Example:233G-4

Typically used for Model Number of Asset.

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Serial number Required Serial number located on the asset

Example:123abc111

If known, insert the actual serial number of the asset, otherwise enter after the asset is received via transaction AS02. (Required for capital assets.)

Ordered on Optional Date asset was ordered

Example:04/22/2013

Enter the ordered on data if needed, this will not default from the purchase order.

12. Click Time-dependent tab .

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Cost Center Required Organizational unit for capturing costs

Example:1010000000

The cost center where the cost will be booked.

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Resp. cost center Required The cost center that has possession or responsibility of the asset

Example:1500000004

The asset will be on the inventory list of this cost center.

Int. order Optional Sales, production, process, purchase, internal, or work order number that uniquely identifies an object.

Example:p12345

License plate number Conditional The assigned license plate number for registered vehicles

Example:AA68TY

Fund Required A fund is a separate & distinct fiscal/accounting object containing a complete self-balancing set of accounts used to segregate cash and other financial resources, together with associated liabilities, residual equities, and related changes. Amounts are separated by fund so that certain activities can be performed or objectives achieved in accordance with special regulations, restrictions, or limitations. Funds are classified into fund types, which have distinctive accounting and reporting requirements.

Example:A100001

Functional Area Required Organizational unit in accounting that classifies the expenses of an organization by functions; i.e. Instruction (0), Research (1), Public Service (2), Academic Support (3), Student Services (4), Institutional Support (5), Operation and Maintenance (6), Scholarship and Fellowship (7), Auxiliaries (8), Hospital (9), None (X)

Example:5

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Grant Conditional An award to the university as additional resources to support instruction, research, or public service; A type of financial assistance awarded to an organization for the conduct of research or other program as specified in an approved proposal

Example:1234567

Bldg name Required The building where the asset is located

Example:A Pavilion

Required for moveable assets.

Room Number Required Room number where the asset is located

Example:312

Required for moveable assets.

14. Click the Allocations tab .

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Auxiliary ConditionalExample:AUX

If the asset is assigned to an Auxiliary, select AUX from the drop-down menu; otherwise leave this field blank.


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Export Control Conditional Export Control is the transfer of commodities, software, technology, or information that is controlled. It can happen inside (deemed export) or outside the US.

Example:EAR99

Export Control is the transfer of commodities, software, technology, or information that is controlled. It can happen inside (deemed export) or outside the US. The manufacturer can supply this information to you. Please complete the Product Classicifation Certification form located at: http://researchcompliance.uc.edu/ExportControls/Resources/forms.aspx

Service Center Required An institutional entity which provides a service or product to University users for a fee; The rates charged by the center are calculated so that the center recovers its costs; The University has two types of Service Centers, University Service Centers and Departmental Service Centers.

Example:D600017

Enter the Service Center that owns the asset. This will only be used for Capital Assets that are included in the Service Center Rate.

Investment reason Conditional Indicates the organizational ownership of an asset. How the asset is titled.

Example:10

The investment reason will default to 10 (UC) for all asset classes except for Non-UC Titled asset classes (39700 or 49700). The investment reason should only be modified if utilizing a Non-UC Titled asset class.

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http://researchcompliance.uc.edu/ExportControls/Resources/forms.aspx

http://researchcompliance.uc.edu/ExportControls/Resources/forms.aspx



17. Click Origin tab .

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Vendor Conditional Code for the Vendor

Example:100005-C

This is listed as Conditional. This field is updated by the system when an invoice is posted to a PO. This does not apply to P-Card, A114, donated assets or any other case when an asset is not referenced on a PO.

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Unlabeled field (to the right of the Vendor field) Vendor

Conditional Description of the vendor

Example:Dell Computer Shop

Manufacturer Conditional Name of manufacturer of a material or product

Example:Dell

Country of origin Optional The country where the asset was manufactured

Example:US

Type name OptionalExample:A114-141391

Acquisition Type Conditional How asset was acquired

Example:T-TRANSFER IN FROM ANOTHER UC DEPARTMENT.

Do not enter; controlled by Asset Management.

Disposition Type Conditional How asset was disposed

Example:D-DESTROYED/SCRAPPED/DEMOLISHED

Do not enter; controlled by Asset Management.

19. Click the Deprec. areas tab .

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This tab is controlled by Asset Management. View the displayed information.

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Create multiple assets

21. Click the Create button .

This screen will only display if more than one asset shell is being created.

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Create Asset: Initial Screen

22.The system displays the message, “The assets xxxxxxxx x to xxxxxxxx x have been created".

23. Click the button to exit.

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Result

You have created an asset master record.

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Documents

Create Asset Master Record (AS01) - University of … · Web viewSAP Easy Access User Specific menu Select Inventory Tracking - AA Create Asset Master Record SAP Easy Access Generic