Ivy Tech Community College Training Banner Finance – Fixed Assets _____________________________________________________________________________________________

Training

Finance Fixed Assets

© 2010 Ivy Tech Community College. All rights reserved. This documentation is proprietary information of Ivy Tech Community College and is not to be copied, reproduced, lent or disposed of, nor used for any purpose other than that for which it is specifically provided without the written permission of Ivy Tech Community College. The unauthorized possession, use, reproduction, distribution, display or disclosure of this material or the information contained herein is prohibited. Prepared By: Ivy Tech Community College 50 West Fall Creek Parkway North Drive Indianapolis, Indiana 46208 www.ivytech.edu Release Version 2.1 January 2014

Banner Finance Fixed Assets

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Contents INTRODUCTION........................................................................................................... 4 Workbook goal ............................................................................................................................ 4 Intended audience ...................................................................................................................... 4 Workbook revision history ..................................................................................................... 4 Prerequisites ................................................................................................................................ 4 Learning Objectives ................................................................................................................... 4 Terms & Concepts ...................................................................................................................... 5 OVERVIEW .................................................................................................................... 6 Purpose ........................................................................................................................................... 6 Automatic Capitalization ......................................................................................................... 6 Depreciation ................................................................................................................................. 6 Physical Inventories .................................................................................................................. 6 Fixed Asset Adjustments.......................................................................................................... 6 Barcode Tags/Permanent Tag Numbers ........................................................................... 6 Tag Extract Process.................................................................................................................... 7 Account Codes that Generate Tags ...................................................................................... 7 Number of Tags Generated ..................................................................................................... 8 Use of O-Tags & D-Tags ............................................................................................................ 8 Erroneous O-Tags ....................................................................................................................... 8 ASSET TYPES JOB AID ............................................................................................... 9 TAG EXTRACT PROCESS & TAG IDENTIFICATION ....................................... 13  “Pending Tags” - Discoverer Report ....................................................................... 13  FFPOEXT report in Finance e~Print Repository ............................................... 14  FOIDOCH – Document History form in INB ......................................................... 15  FFADTGP – D-Tag Processing form in INB ........................................................... 16

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CONVERTING O-TAGS TO P-TAGS (PERMANENT TAGS) ............................. 17 USING THE MASTER MAINTENANCE FORM TO UPDATE P-TAGS ........... 27 USING THE TRANSFER FORM TO UPDATE P-TAG DETAILS ...................... 28 CREATING DEPRECIATION RECORDS .............................................................. 31 RECORDING AN ASSET RECEIVED AS A GIFT ................................................ 34 RECORDING LIBRARY MATERIALS ................................................................... 43 ATTACHMENTS ......................................................................................................... 65 COMPONENTS ............................................................................................................ 76 EFFECT OF CANCELLED INVOICES/CHECKS ON TAGS .............................. 78 DISPOSING OF A CAPITAL ITEM ......................................................................... 79 DISPOSING OF A NON-CAPITAL ITEM ............................................................... 81 R & R AND NEW CONSTRUCTION........................................................................ 82 CAPITAL LEASES ...................................................................................................... 82 REPORTS & PROCESSES ......................................................................................... 83 Banner Reports......................................................................................................................... 83 Discoverer Reports ................................................................................................................. 91 QUERIES....................................................................................................................... 92 TREASURER’S OFFICE FUNCTIONS.................................................................. 101 Deleting Tags ........................................................................................................................... 101 Processing D-Tags ................................................................................................................. 102 Adjustments ............................................................................................................................. 118

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Introduction Workbook goal The goal of this workbook is to provide you with the knowledge and practice to properly record, maintain, and track fixed assets and inventory items at your campus.

Intended audience Staff members who are responsible for processing fixed assets or those who need to locate or report on fixed assets.

Workbook revision history VERSION

DATE

REVISION

1.0

June 2007

Original Release

2.0

Nov. 2011

Reorganization of entire manual, Updates current through Banner 8.6

2.1

January 2014

Updated Capital Lease Instruction

Prerequisites Banner INB Navigation Banner Chart of Accounts Structure

Learning Objectives After completing this workbook, you will be able to: 1. Tag and create fixed asset and inventory records 2. Set up depreciation records 3. Create asset records for gifts 4. Record library materials 5. Update asset & inventory records 6. Associate attachments and components 7. Dispose of asset & inventory items 8. Review reports & queries for asset management

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Terms & Concepts Accumulated Depreciation

The cumulative depreciation of an asset up to any point in its life, not to exceed its cost.

Attachment

An origination tag record can be designated as integral part of another asset. An example would be an addition to an already existing building. The cost of the completed addition (attachment) would be added to the parent asset (primary tag). The attachment is depreciated over the remaining life of the parent asset.

Barcode Number

The number on the barcode tag physically attached to (or assigned to) the fixed asset. All assets and inventory items must have a barcode tag # attached to or assigned to them.

Capital Asset

Items = or > $3,000 with a useful life of at least one year which are recorded as assets in the financial records and depreciated over the life of the asset (except land and artwork). Library materials are capitalized at $35 and higher.

Component

An origination tag record can be associated with (or made a component of) another asset (primary tag). The costs are separate for each asset and depreciated separately. Each asset has a separate identity (separate Ptag #); however, the assets are linked together for tracking purposes. An example of this might be some technology items.

Deleted Tag

Only non-capital assets and assets associated with a cancelled invoice may be deleted. Once deleted, there is no record of them in the fixed asset module. This function is only performed by the Treasurer’s Office.

Depreciation

Decrease in value of an asset to allow for wear and tear, decay, obsolescence, etc. Ivy Tech posts depreciation annually.

Disposed Tag

Only P-Tags may be disposed. A disposed asset is one that is no longer in use. Even though the status is Disposed, the asset record still remains in the fixed asset module with a $0 value.

D-Tag (Document Tag)

This is a tag that Banner systematically creates from a posted journal entry which was coded to one of the capital expense or inventory accounts. DTags are a nine digit # that begins with a “D”.

Inventory Item

Items which are tracked but not capitalized (< $3,000) within the fixed asset system. These include high theft items < $3,000, artwork < $3,000, computers < $3,000, and non ITCC equipment (any $ amount) which needs to be tracked for insurance purposes.

Net Book Value

Cost of an asset less accumulated depreciation

O-Tag (Origination Tag)

This is the temporary tag that Banner will systematically create from a posted invoice or credit memo which was coded to one of the capital expense or inventory accounts. It is a nine digit # that begins with a “T”.

P-Tag (Permanent Tag)

This is the permanent tag # assigned when the OTag is converted to a permanent asset. The user assigns the PTag # using the preprinted barcode tags which were distributed to their region. It is limited to nine digits.

Primary Tag

The asset to which a component or attachment is associated.

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Overview Purpose The overview will provide a high-level description of the mechanics and processes that drive the fixed asset module.

Automatic Capitalization The Banner Fixed Assets module allows for automatic capitalization of an asset when an invoice or journal entry posts and it was coded to specific account codes and the value of the item is greater than or equal to $3,000.00. The system debits the appropriate asset account and credits the appropriate net asset account. This greatly reduces the workload which would’ve otherwise been required by end users. Depreciation The depreciation process is run annually by the Treasurer’s Office. This process is typically run in late August for the previous fiscal year once fixed assets have been reconciled for that fiscal year. The Straight Line Method of depreciation is used with the half-year convention. The half-year convention means that we depreciate one-half of a year’s depreciation in the first year of the asset’s life. The other half is depreciated in the last year of the asset’s life. Capital assets that are not depreciated are Land & Artwork. Physical Inventories Required physical inventories are conducted every other year (even-number years). Instructions for the physical inventories will be communicated from the Treasurer’s Office. Fixed Asset Adjustments All adjustments entered on form FFAADJF route for electronic approval. They route to the Director of Capital Assets and Debt Accounting of the Treasurer’s Office. Barcode Tags/Permanent Tag Numbers The pre-printed barcode tags will be permanently attached (or assigned if physical attachment is not possible) to every asset and inventory item in the fixed asset system. The barcode tags are distributed from the Facilities Office of the Central Indiana region. The barcode tag number becomes the permanent tag number in the Banner Fixed Asset system.

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Tag Extract Process When an invoice or journal entry posts and it was coded to specific account codes, the banner Fixed Assets module generates an O-Tag or D-Tag respectively. The tag extract process runs nightly. Account Codes that Generate Tags Expense Account 3403C 3403H 3403N 3403N 3403P 3603 4001 4003 4004 4005 4006 4007 4008 4010 4011 4012 4013 4014 4015 4016 4017 5093 5094 5095 5096 5097 5098 5193 5194 5195 5196 5197 5198

Account Title Inventoried Computers < $3,000 Inventoried High Theft items < $3,000 Inventoried Non ITCC Equipment (DWD) Inventoried Non ITCC Equipment (Others) Inventoried Printers/Copiers < $3,000 CAP Capital Leases CAP Instructional Publications CAP Instructional Equipment CAP Office Furniture & Equipment CAP Artwork CAP Vehicles & Machinery CAP Computers CAP Software CAP Land CAP Library Materials CAP Modular Units CAP Building Acquired CAP Intangible Assets CAP Network Equipment CAP Printers/Copiers > or = $3,000 CAP Other IT Related Components CAP RR Complete Land Improvements CAP RR Complete Infrastructure CAP RR Complete Build and Improvem CAP RR Complete Leasehold Improvem CAP RR Complete Mobile Unit & Impr CAP RR Complete Cap Leasehold Improv CAP CIP Complete Land Improvements CAP CIP Complete Infrastructure CAP CIP Complete Build and Improvem CAP CIP Complete Leasehold Improvem CAP CIP Complete Mobile Unit & Impr CAP CIP Construction Interest

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Capital or Inventory item Inventory item Inventory Item Inventory Item Inventory Item Inventory Item Capital Capital Capital Capital Capital Capital Capital Capital Capital Capital Capital Capital Capital Capital Capital Capital Capital Capital Capital Capital Capital Capital Capital Capital Capital Capital Capital Capital

Item Cost should be < $3,000 < $3,000 > or = $500 Per grant < $3,000 > or = $3,000 > or = $3,000 > or = $3,000 > or = $3,000 > or = $3,000 > or = $3,000 > or = $3,000 > or = $3,000 > or = $3,000 > or = $35 > or = $3,000 > or = $3,000 > or = $3,000 > or = $3,000 > or = $3,000 > or = $3,000 > or = $3,000 > or = $3,000 > or = $3,000 > or = $3,000 > or = $3,000 > or = $3,000 > or = $3,000 > or = $3,000 > or = $3,000 > or = $3,000 > or = $3,000 > or = $3,000

Asset Account A601 A601 A601N A601N A601 A615 A614 A608 A609 A610 A611 A612 A613 A602 A616 A605 A605 A617 A612 A612 A612 A603 A604 A605 A606 A607 A615 A603 A604 A605 A606 A607 A605

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Number of Tags Generated The number of tags generated is dependent upon the source document: invoice/credit memo or journal entry. 

Invoices/Credit Memos – Determined by the quantity field of the commodity record (on FAIINVE) which corresponds to the account of the FOAPAL record which generated the tag. In the example below 8 separate O-Tags generated each with a cost of $3,675.00.



Journal Entries – When any account which generates asset tags is used on a journal entry, one tag will generate for each line with such an account. The value of the tag will be the amount of the debit or credit. In the example below one D-Tag will be created with a negative value of $14,526.90.

Use of O-Tags & D-Tags O-Tags and D-Tags are then used to convert to permanent tags (P-Tags) or update alreadyexisting P-Tags or O-Tags. Erroneous O-Tags Any O-Tags which are believed to be erroneous or not needed should be discussed with the Director of Capital Assets and Debt Accounting. The Director will advise the appropriate course of action.

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Asset Types Job Aid Asset Types determine the useful life of an asset for depreciation purposes. They are also used to categorize assets and for reporting purposes. Asset Type

Asset Type Title Legend:

n/a = not applicable

Useful Life

Examples (not intended to be all inclusive) ! = Contact Director of Capital Assets and Debt Accounting for life

AA

Artwork > $2,999

Paintings, sculptures, etc.

Depreciable

# = Remaining Life of Primary Asset n/a

No

BR

Library materials

Books, ebooks with unending access, Instructional Publications, Manuals, CD Rom for Library Use

5

Yes

CA

Computer-Mainframe

Mainframe Related Equip Only (Primary/CPU/Storage Devices)

5

Yes

CB

Computer-Mainframe Terminals

Data Input Terminals - Mainframe terminal only

8

Yes

CC

Computer-Mainframe Devices

> = $3,000, Mainframe Communications - Modems, Routers

8

Yes

CE

Computer-Main-Network

> = $3,000, LAN Equipment, Servers, Netware, PC Network

5

Yes

CF

Printers-Mainframe

Mainframe printers only - High Speed

7

Yes

CG

Computer-Mini-Mainframe

Mainframe Related Only, AS400 Mini etc.

5

Yes

CH

Computer-PC Tablet Laptop > $2,999

> = $3,000, PC/Tablet/Laptop Hardware (CPU,Monitor,CD ROM Etc.)

5

Yes

CJ

Computer-Software/CD (PC) Licenses

Software, Licenses, CD etc. (All Office) PC/Laptop/Mainframe

5

Yes

CK

Word Processing

Transcribers, Document Imaging

5

Yes

CL

Printers-PC/Laptop > $2,999

> = $3,000 PC/Laptop Printers (Dot Matrix, Laser Jets, Scanners)

3

Yes

CM

ERP Software-Central Office Use

"Enterprise resource planning" system which integrates all functional areas

10

Yes

EA

Vehicles-Small

Automobiles, Vans, etc. (Small)

4

Yes

EB

Equipment-Motorized/Manual

Forklifts, Palette Trucks or Hand Trucks

4

Yes

EC

Vehicles-Large

Tractors, Trailers, Trucks (Large)

5

Yes

ED

Maint Equip-Tools, Air Compressors

Power Tools, Saws, Hand Tools, Air Compressors

3

Yes

EF

Maint Equip-Tool Box, Ladders, Mowers

Tools Box, Scaffolding, Ladders, Vacuums, Mowers

5

Yes

EG

Furniture-Office

> = $3,000 Desk, Chair, Filing Cabinets, Showcases

7

Yes

EH

Medical Equipment (Not Instruction)

Defibrillators, Emergency First Aid Kits (Campus Use) Not Instruction

8

Yes

EI

Machine-Business Other

Copiers/Fax/Microfiche/Film/Postage/Shredder/Photo ID/Cash Register

4

Yes

EJ

Machine-Business Typewriters

Typewriters

10

Yes

EK

Telephone Systems

Switchboard Equipment, Telephones, (No Fax Machines unless integral)

5

Yes

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Asset Type Title Legend:

n/a = not applicable

Useful Life

Examples (not intended to be all inclusive) ! = Contact Director of Capital Assets and Debt Accounting for life

Depreciable

# = Remaining Life of Primary Asset

FA

Modular Units

Portable classrooms or offices

15

Yes

IA

Inst-Computers PC/Laptop > $2,999

(Instructional Purpose) > = $3,000, PC/Laptop Hardware (CPU,,Monitor, CD ROM Etc.)

5

Yes

IC

Inst-Computers-Software/CD (PC) Lic

(Instructional Purpose) Software, Licenses, CD etc. (All Office) PC/Laptop/Mainframe

3

Yes

ID

Inst-Printers PC > $2,999

(Instructional Purpose) > = $3,000 PC/Laptop Printers (Dot Matrix, Laser Jets, Scanners)

3

Yes

IF

Inst-Furniture and Fixtures

(Instructional Purpose) Computer Tables, Student Desks, Lockers

7

Yes

IG

Inst-Audio Visual Equipment

(Instructional Purpose) VCR. LCD Panels Digital/Elmo Cameras, Training Video Tapes

5

Yes

IH

Inst-Equipment Technical

(Instructional Purpose) Lathes, Engines, Transmissions, Pumps, Alignment

8

Yes

II

Inst-Vehicles

(Instructional Purpose) Cars, Vans, Small Trucks (Factory or Donated)

4

Yes

IJ

Inst-Equipment Advanced

(Instructional Purpose) Welders, Plasma Arc-Welders, CNC Lathes, Robots, Tech 1 Scanners

4

Yes

IK

Inst-Equipment Short Term

(Instructional Purpose) Thermometers, Blood Pressure, CPR Mannequins/Body Part Simulators

4

Yes

IL

Inst-Equipment Medium Term

(Instructional Purpose) EKG Machines, Ventilators, X-Ray, Defibrillators

8

Yes

IM

Inst-Equipment Long Care

(Instructional Purpose) Microscopes, Beds, Wheelchair, Exam & Operating Table

12

Yes

IN

Inst-Equipment Child Care

(Instructional Purpose) Playground, Educational Toys

5

Yes

IO

Inst-Computer Mainframe

(Instructional Purpose) Mainframe Related Equip Only (Primary/CPU/Storage Devices)

5

Yes

IP

Inst-Computer Terminals

(Instructional Purpose) Data Input Terminals - Mainframe terminal only

8

Yes

IQ

Inst-Computer Network

(Instructional Purpose) Networked Labs, Cabling, Communications Devices

8

Yes

IR

Inst-Computer Mini Mainframe

(Instructional Purpose) Mainframe Related Only, AS400 Mini etc.

5

Yes

IT

Inst-Equipment Typewriters

(Instructional Purpose) Typewriters

3

Yes

IU

Inst-Equipment Transcribers

(Instructional Purpose) Transcribers, Dictation Equipment, Business Division Only – Instruction

3

Yes

IV

Inst-Equipment Statistical

(Instructional Purpose) Calibrators, Measuring Devices

3

Yes

IW

Inst-Equipment Kitchen

(Instructional Purpose) Dishes, Utensils, Portable Items

5

Yes

IX

Inst-Equipment Appliances Fixtures

(Instructional Purpose) Refrigerators, Stoves, Ovens, Dishwasher, Ice Machine

15

Yes

IY

Inst-Equipment Visual

(Instructional Purpose) Video Cameras, Visual Communications

5

Yes

IZ

Inst-Equipment Recording

(Instructional Purpose) Video Recording, Camcorder, VCR Recording/Playback

3

Yes

JA

Inst-Monitors

(Instructional Purpose) Monitors, Black & White or Color

5

Yes

JB

Inst-Equipment Control Room-Commerc

(Instructional Purpose) Switches, Signal Processing Devices

5

Yes

JC

Inst-Equipment Lighting Commercial

(Instructional Purpose) Lighting Systems

8

Yes

JD

Inst-Equipment Audio Rm Commercial

(Instructional Purpose) Turntable, Equalizer, Mixing

5

Yes

JE

Inst-Equipment Projectn Commercial

(Instructional Purpose) Slide Projection, Film Projection

8

Yes

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Asset Type Title Legend:

n/a = not applicable

Useful Life

Examples (not intended to be all inclusive) ! = Contact Director of Capital Assets and Debt Accounting for life

Depreciable

# = Remaining Life of Primary Asset

JF

Inst-Equipment Satellite

(Instructional Purpose) Satellite Systems, Dish Systems, Connection Devices

5

Yes

JG

Inst-Processor-Art

(Instructional Purpose) Film - Processors Black White or Color

7

Yes

JH

Inst-Enlargers-Art

(Instructional Purpose) Film - Enlarging Equipment

7

Yes

JI

Inst-Cameras-Art

(Instructional Purpose) Cameras, ALL (35 Millimeter, 8x10 etc.)

7

Yes

JJ

Inst-Tripods-Art

(Instructional Purpose) Tripods, Stands

7

Yes

JK

Inst-Equipment Lighting Art

(Instructional Purpose) Studio Lighting, Course Lighting, Strobe Lights

5

Yes

JL

Inst-Equipment Interior Design

(Instructional Purpose) Interior Design Props, Fixtures, Miscellaneous

8

Yes

JM

Inst-Equipment Interactive Video

(Instructional Purpose) Video Disk, Tapes, Interactive

5

Yes

JN

Inst-Equipment Grading "S"

(Instructional Purpose) Grading Equipment, "S" Centers & All

5

Yes

JO

Inst-Equip Visual/Hearing Impaired

(Instructional Purpose) Disabled-Special Equipment Software/Synthesizers/Cash Registers

5

Yes

JP

Inst-Equipment Aviation

(Instructional Purpose) Aviation Equipment

4

Yes

LB

Capital Leases-Buildings

Capital Leases for Buildings (Becomes ITCC Property at Lease End)

40

Yes

LE

Capital Leases-Equipment

Capital Leases for Equipment (Becomes ITCC Property at Lease End)

!

Yes

LL

Capital Leases-Land

Capital Leases for Land (Becomes ITCC Property at Lease End)

n/a

No

NA

New Construct-Building

New Construction of Buildings

40

Yes

NB

New Construct-Roads/Infrastructure

New Construction of Roads (Infrastructure)

40

Yes

NC

New Construct-Build Addition >$1.5M

Building Additions - cost greater than $1.5 million

20

Yes

OB

Construct-Parking Lots Paving Light

Parking Lots, Paving, lighting etc.

10

Yes

OC

Construct-Landscaping, Signs

Landscaping, Signs

10

Yes

OD

Construct-Fencing, Gates

Fencing, Gates

10

Yes

OE

Construct-Sidewalks and Curbs

Sidewalk & Curbs

10

Yes

OF

Construct-Land Improvements Other

Land Improvements – Other

10

Yes

OG

Land, Demolition, Removal

Purchase of Land & demolitions and removals to prepare land for construction

n/a

No

PA

Buildings Acquired/Purchased

Purchased or Acquired Buildings

40

Yes

RA

R&R Building Improvements

(Renew & Replace) Building Improvements

#

Yes

RB

R&R Road Improvements

(Renew & Replace) Road Improvements

#

Yes

RC

R&R Structural Shell

(Renew & Replace) Structural Shell

#

Yes

RD

R&R Water Sewer Plumbing

(Renew & Replace) Water/Sewage/Plumbing

#

Yes

RE

R&R Electrical Systems

(Renew & Replace) Electrical Systems

#

Yes

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Asset Type Title Legend:

n/a = not applicable

Useful Life

Examples (not intended to be all inclusive) ! = Contact Director of Capital Assets and Debt Accounting for life

Depreciable

# = Remaining Life of Primary Asset

RF

R&R Heating Systems

(Renew & Replace) Heating Systems

#

Yes

RG

R&R Air Conditioning Systems

(Renew & Replace) Air Conditioning Systems

#

Yes

RH

R&R Elevators

(Renew & Replace) Elevators

#

Yes

RI

R&R Roof Repair

(Renew & Replace) Roof Repair

#

Yes

RJ

R&R Asbestos Abatement

(Renew & Replace) Asbestos Abatement

#

Yes

RK

R&R Laboratory Rehab

(Renew & Replace) Laboratory Rehab

#

Yes

RL

R&R Leasehold Improvements All

(Renew & Replace) Leasehold Improvements All

#

Yes

VA

Video Equipment

VCR, TV/VCR, Monitors, Video Cameras, Camcorders

6

Yes

VB

Projectors & Screens

Overhead, Film, Slide, Video Data, Screens

8

Yes

VC

Audio Equipment

Recording Equipment, Players

5

Yes

VD

Bar Code (Scanners & Equipment)

Bar Code Related Equipment, Handheld Scanners

5

Yes

VE

Cameras

Cameras, Lenses, Tripods

5

Yes

XA

Non Ivy Tech Assets Accountable for

Non ITCC equipment, inventory for accountability

n/a

No

XB

Artwork < $3,000

Under $3,000 Paintings, sculptures, etc

n/a

No

XC

Computer-LAN Server Router PgDn]. The tags associated with the invoice are displayed in the Asset Tag Block. Use the scroll bar if necessary to view all the tags.

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 FFADTGP – D-Tag Processing form in INB This form may be used to query a specific journal entry to identify the D-Tags associated with that journal entry and the action that was taken on them. Regional users will only have query (not update) access to this form. Step 1

Action Type FFADTGP in the GO TO field and press enter. The Fixed Asset Dtag Processing form displays. Type the journal entry number in the Document field, select “Journal Voucher” in the Type field, and select “All” in the Document Tag Status field to display all D-Tags. Next Block [Ctrl>PgDn]. The middle block displays each FOAP of the JE that generated a D-Tag. The bottom block displays the action that was taken with the D-Tag from the above FOAP. In this example D-Tag D00006695 was used to delete O-Tag T00078164.

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Converting O-Tags to P-Tags (Permanent Tags) Exercise 1: Use form FFAMAST to convert all capital & inventory item O-Tags to P-Tags. Step

Action

1

Type FFAMAST in the GO TO field and press enter. The Fixed Asset Master Maintenance form displays.

2

Type the O-Tag number in the Asset Tag field. If necessary, you may search for the O-Tag number. With your cursor in the Asset Tag field, display the list of values by using the “F9” key on the keyboard. Form FFIFALV will display. Check the “Origination Tag” radio button and Next Block [Ctrl>PgDn]. Tab to the Asset Description field and enter search criteria. Since the tag hasn’t been converted yet, the description displayed will be the description as shown on the commodity record on FAIINVE for the invoice that generated the tag. The asset description may also be viewed on FFIMAST. Use wildcards in your search.

Execute the query (F8) and the results are displayed. In this example, we haven’t converted to a P-Tag yet, so the first record is the only possible choice. The description is applicable, so we conclude it is the tag we are searching for. Double-click the O-Tag number to return it to FFAMAST.

Select the Action Convert to permanent tag. Next Block [Ctrl>PgDn].

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The Master Information screen is displayed.

4

Enter the pre-printed barcode tag # in the Permanent Tag field. The system checks for duplicate P-Tags so be sure to enter the tag # correctly. (Required field)

5

Leave the Primary Tag field blank. This field will only be used for attachments and components, which is discussed in the Attachments and Components sections.

6

Leave the Subordinate Type field blank. This will only be used with attachments and components.

7

Asset Description: The description from the commodity line on the invoice or the JV description will default here, depending on which generated the tag. Change the description to something that will be useful for identifying the asset. It is recommended you use your regional numeric prefix and your initials to aid future queries and reports. (i.e. 122 JAA Security 2012 Ford Escape)

8

The Commodity field will default from the invoice if one was used and is display only. If nothing defaulted, you may select one by clicking the “Search” button, if desired.

9

The Unit of Measure will default from the invoice and is display only. If nothing defaulted, leave blank.

10

11a

Select the appropriate Asset Type from the drop down list. It is important to select the proper type because it determines the asset’s useful life for depreciation purposes. Please reference the job aid provided in this training manual for additional information. Required field. Note: Asset Types for items that are not capitalized and which are simply in the system for tracking purposes all begin with “X”. User Status Code field is required when the asset was purchased with grant monies. To determine if the item was purchased via a grant, Next Block [Ctrl>PgDn] to the Procurement Information screen and view the Grant field in the Transfer Data block. If there is no grant code, go to step 12. If there is a Grant Code, use the Go To shortcut (F5) to view FRAGRNT. The Go To shortcut allows you to view another form without leaving the current form.

In the Go To field type FRAGRNT.

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Enter the grant code in the Grant field. Next Block [Ctrl>PageDown]. The grant details are displayed.

View the Grant Type field and make a note of it. 11c

Close [Ctrl>Q] the FRAGRNT form. Hit the F5 key again to remove the Go To field. You will be returned to FFAMAST.

11d

Previous Block [Ctrl>PageUp] twice to return to the Master Information screen. Enter the appropriate code to identify the type of the grant funding in the User Status Code field: F = Federal Grant L = Local Grant P = Private Grant S = State Grant

12

Insurance Value: Optional field which is informational only. Market Value: Optional field which is informational only. Replacement Value: Optional field which is informational only. Book Value: Optional field which is informational only.

13

The Origination Tag Date is date the system generated the O-Tag. Display only.

14

The Permanent Tag Date is the date the O-Tag was converted to a P-Tag. Display only.

15

The Last Adjustment Date is the last date the asset was adjusted using form FFAADJF or the depreciation process. Display only.

16

The Origination Tag Cancel Date is populated if the invoice or check associated with this asset has been cancelled or when the tag is inactivated using the FFADTGP form. Display only.

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The System Status Code shows current system status of the asset master record. Display only. C = Cancelled invoice/check D = Disposed G = Gift/Donation I = Origination tag created from invoice J = Origination tag created from journal voucher N = Non-Banner procured asset O = Converted from legacy system

18

The Capitalization Indicator is system supplied. If checked, indicates that the item has been recorded as a capital asset (not just an expense) in the financial statements of the College.

19

Asset Text Exists: If checked, indicates whether text exists for this asset. Display Only. To add additional text to an asset record, select “Document Text [FOATEXT]” from the Options menu. Type your text in the Text field. Each line has a maximum of 50 characters. If necessary, perform a Next Record function (Down Arrow Key) to access the next line and finish typing the information. Check the Print box for each line. Perform a SAVE function (F10). You should see an information line at the bottom of the screen stating “Transaction Complete…” Perform a Quit function (Ctrl>q) to return to FFAMAST.

20

If checked, the Tag in Use field indicates that the asset record is being adjusted or depreciated by another user or process.

21

If checked, the Gift Indicator field indicates the asset was created using the Gift action. Display only.

22

The Cost field is system calculated & display only. It is the unadjusted historical cost of the item. (i.e. invoice cost).

23

The Total Cost field is system calculated & display only. It is the original (historical) cost of the item minus credit memos, and plus original cost of attachments.

24

The Net Book Value field is system calculated & display only. It is the original cost of a capital asset, plus adjustments, and less accumulated depreciation. Net Book Value for an inventory item which is not capitalized will show $0.

25

The Total Net Book Value field is system calculated & display only. It is the original cost of a capital asset including its attachments, plus or minus adjustments, less accumulated depreciation for the primary asset and all its attachments. Total Net Book Value for an inventory item which is not capitalized will show $0.

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View of the Master Information to this point:

27

Next Block [Ctrl>PgDn] to the Acquisition Information screen.

28

The Acquisition Method field is a required field. Use the “Search” icon to select the appropriate method from the drop down list.

29

Enter the date the asset was acquired in the Acquisition Date field. Use invoice date or if it is a gift, use the date the gift was received.

30

Make: User supplied information. Enter explicit information which will help identify the asset. Model: User supplied information. Enter explicit information which will help identify the asset. Manufacturer: User supplied information. Enter explicit information which will help identify the asset.

31

The Serial Number or VIN (Vehicle Identification No.) field is an Ivy Tech policy required field and is user supplied and informational only.

32

The Part Number or Vehicle Tag field is used for a vehicle license plate number or other external reference number, and is user supplied and informational only.

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The User Reference Number: If the item converted over from the legacy system, this field will display the asset # from the legacy system. Otherwise this field is not used.

34

The Bar Code Number field is informational only. Enter the barcode tag # here if you wish. It should be the same as your permanent tag #.

35

The In Service Date field is informational only and user supplied. Should be the date the asset was placed into service.

36

The Last Inventory Date field is informational only and user supplied. May be updated after each physical inventory.

37

Percentage Used field – Leave blank. Not applicable to ITCC.

38

Work In Progress field – Leave blank. Not applicable to ITCC.

39

The Condition Code field indicates the condition of the asset at time of purchase or receipt. Select from the drop down list. (To change the condition code later, use form FFATRAN).

40

The Title To field is an Ivy Tech policy required field. Identifies which site has ownership of and responsibility for the asset. Select from the drop down list.

41

The Disposal Method field is display only. Updated by the system when the asset is disposed of or written off using the adjustment form (FFAADJF).

42

The Disposal Date field is display only. Updated by the system when the asset is disposed of or written off using the adjustment form (FFAADJF).

42

View of the Acquisition Information to this point:

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Next Block [Ctrl>PgDn] to the Procurement Information screen.

44

If the tag was generated from an invoice, the top block displays the purchase order and invoice information. Display only.

45

If the tag was generated from a journal voucher, the Other Source Data block displays information from that journal voucher. Display only.

46

Transfer Data block: Displays the most recent information from the Fixed Asset Transfer form (FFATRAN). Date: The date on which the item is moved from one responsible entity to another. Display only. COA: Chart of Accounts Organization: Organization that is responsible for the item. Defaults in from the invoice or JV. Display only. If form FFATRAN has been used to transfer an asset, the most recent update will display. To change this field, use form FFATRAN. Location: The Location field is required. It is the building and room code where the asset is located. Select from the drop down list. Future changes must be made on the FFATRAN form. For an explanation of location codes reference the instructions for running report FGRLOCH in this manual. The Grant field is the grant which funded the asset, if applicable. Will default from the invoice or JE. Future changes must be made on the FFATRAN form. The Custodian ID field is the person who has physical custody of the item or has knowledge of where the item is located. Select from the drop down list. Future changes must be made on the FFATRAN form. The Equipment Manager field is the EDF for the region. Select from the drop down list. Future changes must be made on the FFATRAN form.

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View of the Procurement Information screen at this point:

48

Next Block [Ctrl>PgDn] to the Funding Source screen.

The Funding Source block shows the FOAPAL codes from the invoice or JV which generated the tag. Do not make changes here. 49

Perform a Next Block [Ctrl>PgDn] to navigate to the Capitalization Information block.

50

The Change Sequence field is system controlled and keeps track of any changes made to the capitalization accounting distributions. Display only; do not attempt to change.

51

The Sequence field is system controlled and is the number assigned for each capitalization distribution change. Display only; do not attempt to change.

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The COA field defaults from the invoice or the journal entry that originally created the tag. Display only; do not attempt to change.

53

Document: Original source document of the tag. Display only; do not attempt to change.

54

The Capitalization Fund field defaults and is the fund code to which the automatic capitalization was made. Display only; do not attempt to change. If the item is not a capitalized asset, this field will be blank.

55

Equity Account defaults and is the equity account to which automatic capitalization was made. Display only; do not attempt to change. If the item is not a capitalized asset, this field will be blank.

56

Asset Account defaults and is the asset account to which automatic capitalization was made. Display only; do not attempt to change. If the item is not a capitalized asset, this field will be blank.

57

Accumulated Depreciation Account defaults and is the accumulated depreciation account which will record the depreciation for this asset. Display only; do not attempt to change. If the item is not a capitalized asset, this field will be blank.

58

Bank Code: Defaults from the invoice if the tag generated from a Banner invoice. Display only; do not attempt to change.

59

Direct Asset Indicator: Indicator that is set when an asset is capitalized directly, i.e. when a Fixed Asset Account code is used on FAAINVE instead of a capital expense account code. That is not normal practice for Ivy Tech. Display only; do not attempt to change.

60

Attachment Origination Tag: O-Tag number of an attachment. This field should be blank when initially converting an O-Tag to a P-Tag. Display only; do not attempt to change.

61

Cost: Unadjusted historical cost of a capitalized asset. Display only; do not attempt to change. If the item is not a capitalized asset, this field will show $0.

62

The Adjusted Cost field is system calculated as the total cost plus or minus any adjustments. Display only; do not attempt to change. If the item is not a capitalized asset, this field will show $0.

63

Percentage: System calculated as the percentage of the total asset for the accounting distribution. Display only; do not attempt to change.

64

The Accumulated Depreciation field is system calculated and is the life-to-date accumulated depreciation expense for the asset. Display only; do not attempt to change. If the item is not a capitalized asset, this field will show $0.

65

The Depreciation or Posting Indicator field is initially blank. Once a capital asset has a depreciation record set up on FFADEPR, this indicator will change to “Post Depreciation”. Display only; do not attempt to change here. If the item is not a capitalized asset, this field should be blank.

66

The New Sequence icon is not used at this time.

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Perform a Next Block [Ctrl>PgDn] to navigate to the User Fields screen.

Ivy Tech does not use this screen so perform a Next Block [Ctrl>PgDn] to navigate to the Master Information screen. 68

The Master Information screen displays. Save the record (F10). If the system has not already saved the record, the hint line will state “Transaction Complete…”.

69

Depreciable capital assets must have a depreciation record created in Banner. To create the depreciation record select “Depreciation Information [FFADEPR]” from the Options menu. Follow the instructions found in the section “Creating Depreciation Records”. If the item was not a depreciable capital asset, perform a Quit function (Ctrl>q) to return to the main menu.

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Using the Master Maintenance form to update P-Tags Fields that may be updated via this method: Asset Description

Commodity

User Status Code (original entry)

Asset Type (if FFADEPR hasn’t been created

Insurance Value

Market Value

Replacement Value

Book Value

Acquisition Method

Acquisition Date

Make

Model

Manufacturer

Serial Number or VIN

Part Number or Vehicle Tag

In Service Date

Last Inventory Date

Disposal Method and Date (for non-capital items only & original entry only)

Exercise 1a: Use form FFAMAST to update asset details of a P-Tag Step

Action

1

Type FFAMAST in the GO TO field and press enter. The Fixed Asset Master Maintenance form displays.

2

Asset Tag: Enter the P-Tag number that you wish to update. Action: Select Permanent Tag – Update Asset.

3

Next Block [Ctrl>PgDn]. Navigate to the field(s) you wish to update and make the change(s). Save the changes (F10) after each change.

4

When all the changes have been made, perform a Quit function (Ctrl>q) to exit the form and return to the main menu.

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Using the Transfer Form to update P-Tag Details Updates that may be made via this form: Permanent Tag #

Location Code

Title To

Condition

Custodian ID

Equipment Manager

Organization

Grant Code

User Status Code

Disassociate a component from a Primary Tag

If an item is physically transferred to another region, the receiving region should update FFATRAN upon receipt of the item. Review the Discoverer report “Fixed Asset Transfers” (within the “Fixed Asset” Workbook) on a regular basis to verify/confirm transfers that have been made to your region’s assets.

Exercise 1b: Use form FFATRAN to update asset details of a P-Tag Step 1

Action Type FFATRAN in the GO TO field and press enter. The Fixed Asset Transfer form displays. Permanent Tag: Enter the P-Tag number of the item you wish to update. Origination Tag: Defaults once the P-Tag number is entered. Asset Description: Defaults once the P-Tag number is entered.

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Next Block [Ctrl>PgDn]. If this is the first update made on FFATRAN for this P-Tag, a message will pop up stating “Query caused no records to be retrieved.” Click OK and you will be allowed to continue. The current information is populated on the top right and bottom half of the form.

3

The Sequence Num field is the sequential number assigned by the system to each update on this form. Initial record is 0. To see additional updates, if any, place cursor in this field and arrow down. Updates are listed in descending chronological order.

4

The User ID field will display the individual’s ID who performed the transfer or update.

5

The Activity Date field is display only and is the date the record was last updated by the user.

6

To make any change, select Transfer Information from the Options menu. The system copies the current information into the “From” column on the top left. The “To” column remains populated with the old information and the cursor is now in the “To” column.

7

To make changes TAB through to field(s) you wish to update: Organization, Location, Grant, & Custodian. If there are no changes in this section, leave as is. The phone information and The “From” column is display only.

8

Transfer Document: Not used by ITCC.

9

The Transfer Date field is required and the system date defaults. It can be changed if actual transfer took place on another date.

10

The Text Exists field is Y if text exists for the asset or N. To view Text select “Document Text [FOATEXT]” from the Options menu. Once viewed perform a Quit (Ctrl>q) function to return to the transfer form.

11

The Transfer Reason field is required and is a brief description of reason for the transfer.

12

The Equipment Manager field is the EDF of the region which owns the asset.

13

The Permanent Tag field can be changed only if you need to correct a typo from when the tag was originally converted or if you have replaced a lost or damaged barcode tag.

14

The Primary Tag field displays if the asset being updated is a component of another asset (primary asset). The permanent tag number of the primary asset will default here. To disassociate a component from a Primary tag, blank out the Primary Tag field.

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The Subordinate Type field displays only when the Primary Tag field is completed and the item being updated is a component of the Primary tag.

16

The User Status Code field is required when the asset was purchased with grant monies.

17

The Condition Code field can be changed as deemed necessary.

18

The Title To field is required. Change if asset was moved to another site or region.

19

The System Status field displays current system status of the asset master record. Display only.

20

The Disposal Code field displays when an asset is disposed using the Fixed Asset Adjustment Form (FFAADJF). Display only.

21

The Disposal Date field displays when an asset is disposed using the Fixed Asset Adjustment Form (FFAADJF). Display only.

22

View of the Transfer form at this point:

23

When all updates have been made, SAVE the record (F10). You should see the following message at the bottom of the screen: “Transaction Complete: 1 record applied and saved.” You will also notice the Sequence Num shows a new sequence number for the new record.

24

Perform a Quit function (Ctrl>q) to return to the main menu.

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Creating Depreciation Records Exercise 2: Use form FFADEPR to create a depreciation record for a depreciable capital asset Non-capital items or assets which should not be depreciated should not have a depreciation record created. Assuming you used the correct Asset Type on FFAMAST for those items, the system should give you an error message if you attempt to create a depreciation record for them. Step

Action

1

Type FFADEPR in the GO TO field and press enter. The Fixed Asset Depreciation form displays. The form will default in the last Permanent Tag number you were viewing or updating. If this is not the P-Tag number you need, enter the correct P-Tag number. Next Block [Ctrl>PgDn] and some of the fields will prepopulate.

2

Primary Tag: If the P-Tag number entered is a component of another asset, the permanent tag number of the parent asset is displayed in this field.

3

Subordinate Type: Will display “Component” if the selected asset is a component of another asset.

4

System Status: Current system status on the fixed asset master record. Display only. Cancelled invoice Disposed Gift Invoiced Source journal voucher Non-Banner procured asset Converted from legacy system

5

Depreciation Method: should default to “SL-Straight Line”. This is the only method the college uses. If it defaults blank, please verify that you are not setting up depreciation for a nondepreciable item. (Double check the asset type on FFIMAST.) If it defaults another method, please select SL from the drop down list.

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Useful Life: Defaults based upon the asset type used on FFAMAST. Display only-do not change. If the asset type was a Capital Lease type, the useful life field will be blank. Contact the Director of Capital Assets and Debt Accounting to determine the useful life then enter it here.

7

Frequency: The basis of the periodic depreciation calculation which is always Annual for Ivy Tech, so select “Annual” and TAB.

8

Remaining Periods: Number of periods left for depreciation purposes after the last depreciation process. Once you select the Frequency and TAB the remaining periods will populate. System calculated and display only.

9

Salvage Value: Leave blank because it is not used by Ivy Tech.

10

Total Adjusted Cost: Original cost plus attachments, plus/minus adjustments. System calculated and display only.

11

Start Date: Use any date within the fiscal year that the asset was capitalized in. This determines the fiscal year that the asset starts depreciating.

12

Accumulated Depreciation: Sum of all depreciation for the P-Tag; including attachments. System calculated and display only.

13

Last Depreciation Date: The last time the asset and depreciation information was updated by the depreciation process. This field is not updated by depreciation adjustments done via FFAADJF. System calculated and display only.

14

Total Net Book Value: Total cost of the asset plus attachments, plus/minus adjustments, and less accumulated depreciation for the asset and attachments, if any. System calculated and display only.

15

Last Activity Date: Date the record was last updated by the user. Display only.

16

Perform a Next Block [Ctrl>PgDn] to navigate to the Asset Depreciation Expense Distribution block. All fields in this block should default to the appropriate value listed below. If it does not default correctly, enter only the values indicated below: COA: C Fund: P94000 Organization: 901090 Account: 7501 Program: DEP003 Activity: Leave blank Location: Leave blank

17

TAB to the Posting Code field. Select “(P)ost Deprec”. This must be populated so that the system records depreciation for this asset when the depreciation process is run. Save the record (F10)

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The depreciation record should look comparable to this:

19

To verify that the depreciation record was established and depreciation will calculate, view the depreciation/posting indicator on the asset record. Exit form FFADEPR and go to FFIMAST. Enter the Permanent tag #. Navigate to the Capitalization Information screen. You should see “(P)ost Depreciation” in the Depreciation/Posting Indicator field. If you do not see this, go back to FFADEPR and resave the record.

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Recording an Asset Received as a Gift Prior to recording the asset in the fixed asset module, contact the Director of Capital Assets and Debt Accounting to ensure you have the proper documentation. When an asset is received as a gift and it is valued at $3,000 or more, three steps must be completed in the following order: a. Create the asset record b. Capitalize the asset c. Create the depreciation record (for depreciable assets) When an item is received as a gift and it is valued less than $3,000, and you wish to have a record of the item for tracking purposes (i.e. artwork or high theft items), only one step is necessary: a.

Create the asset record

In either case, before the asset record can be created the value of the gift must be determined. Contact your regional Business Office or EDF to obtain this information.

Exercise 3a: Create an asset record for a gift received. Step

Action

1

Type FFAMAST in the GO TO field and press enter. The Fixed Asset Master Maintenance form displays. Type NEXT in the Asset Tag field. Select Gifts/Donations in the Action field.

2

Perform a Next Block [Ctrl>PgDn] to continue to the Master Information screen.

3

Origination Tag: The system will generate the next O-Tag number.

4

Permanent Tag: Enter the pre-printed barcode tag # in the Permanent Tag field. The system checks for duplicate P-Tags so be sure to enter the tag # correctly. (Required field)

5

Leave the Primary Tag field blank. This field will only be used for attachments and components.

6

Leave the Subordinate Type field blank. This will only be used with attachments and components.

7

Asset Description: Enter a description that will be useful for identifying the asset. It is recommended you use your regional numeric prefix and your initials to aid future queries and reports. (i.e. 131 JAA Walk-in Freezer for Culinary)

8

Commodity: May be selected by clicking the “Search” button, if desired.

9

Unit of Measure: May be selected by clicking the “Search” button, if desired.

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Select the appropriate Asset Type from the drop down list. It is important to select the proper type because it determines the asset’s useful life for depreciation purposes. Please reference the job aid provided in this training manual for additional information. Required field. Note: Asset Types for items that are not capitalized and which are simply in the system for tracking purposes all begin with “X”.

11

User Status Code: Leave blank since this item wasn’t purchased through a grant.

12

Insurance Value: Optional field which is informational only. Market Value: Optional field which is informational only. Replacement Value: Optional field which is informational only. Book Value: Optional field which is informational only.

13

The Origination Tag Date is date the system generated the O-Tag. Display only.

14

The Permanent Tag Date is the date the P-Tag was created. Display only.

15

The Last Adjustment Date is the last date the asset was adjusted using form FFAADJF or the depreciation process. Display only.

16

The Origination Tag Cancel Date is populated if the invoice or check associated with this asset has been cancelled or when the tag is inactivated using the FFADTGP form. Display only.

17

The System Status Code shows current system status of the asset master record. Display only. C = Cancelled invoice/check D = Disposed G = Gift/Donation I = Origination tag created from invoice J = Origination tag created from journal voucher N = Non-Banner procured asset O = Converted from legacy system

18

The Capitalization Indicator is system supplied. If checked, indicates that the item has been recorded as a capital asset (not just an expense) in the financial statements of the College.

19

Asset Text Exists: If checked, indicates whether text exists for this asset. Display Only. To add additional text to an asset record, select “Document Text [FOATEXT]” from the Options menu. Type your text in the Text field. Each line has a maximum of 50 characters. If necessary, perform a Next Record function (Down Arrow Key) to access the next line and finish typing the information. Check the Print box for each line. Perform a SAVE function (F10). You should see an information line at the bottom of the screen stating “Transaction Complete…” Perform a Quit function (Ctrl>q) to return to FFAMAST.

20

If checked, the Tag in Use field indicates that the asset record is being adjusted or depreciated by another user or process.

21

If checked, the Gift Indicator field indicates the asset was created using the Gift action. Display only.

22

The Cost field is system calculated & display only. It is the unadjusted historical cost of the item. (i.e. invoice cost). Should be blank at this point for a gift.

23

The Total Cost field is system calculated & display only. It is the original (historical) cost of the item minus credit memos, and plus original cost of attachments. Should be blank at this point for a gift.

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The Net Book Value field is system calculated & display only. It is the original cost of a capital asset, plus adjustments, and less accumulated depreciation. Should be blank at this point for a gift. Net Book Value for an inventory item which is not capitalized will show $0.

25

The Total Net Book Value field is system calculated & display only. It is the original cost of a capital asset including its attachments, plus or minus adjustments, less accumulated depreciation for the primary asset and all its attachments. Should be blank at this point for a gift. Total Net Book Value for an inventory item which is not capitalized will show $0.

26

Master Information screen at this point:

27

Next Block [Ctrl>PgDn] to the Acquisition Information screen. The system will then generate the O-Tag number and save the record to this point.

28

The Acquisition Method field is a required field. Enter “DF” if donated from the Ivy Tech Foundation. Enter “DO” if donated from any other source.

29

Enter the date the asset was acquired in the Acquisition Date field. Use the date the gift was received.

30

Make: User supplied information. Enter explicit information which will help identify the asset. Model: User supplied information. Enter explicit information which will help identify the asset. Manufacturer: User supplied information. Enter explicit information which will help identify the asset.

31

The Serial Number or VIN (Vehicle Identification No.) field is an Ivy Tech policy required field and is user supplied and informational only.

32

The Part Number or Vehicle Tag field is used for a vehicle license plate number or other external reference number, and is user supplied and informational only.

33

The User Reference Number: If the item converted over from the legacy system, this field will display the asset # from the legacy system. Otherwise this field is not used.

34

The Bar Code Number field is informational only. Enter the barcode tag # here if you wish. It should be the same as your permanent tag #.

35

The In Service Date field is informational only and user supplied. Should be the date the asset was placed into service.

36

The Last Inventory Date field is informational only and user supplied. May be updated after each physical inventory.

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Percentage Used field – Leave blank. Not applicable to ITCC.

38

Work In Progress field – Leave blank. Not applicable to ITCC.

39

The Condition Code field indicates the condition of the asset at time of purchase or receipt. Select from the drop down list. (To change the condition code later, use form FFATRAN).

40

The Title To field is an Ivy Tech policy required field. Identifies which site has ownership of and responsibility for the asset. Select from the drop down list.

41

The Disposal Method field is display only. Updated by the system when the asset is disposed of or written off using the adjustment form (FFAADJF).

42

The Disposal Date field is display only. Updated by the system when the asset is disposed of or written off using the adjustment form (FFAADJF).

43

View of the Acquisition Information screen to this point:

44

Next Block [Ctrl>PgDn] to the Procurement Information screen. The system saves the updated record again.

45

The cursor will now be in the Receiver Date field. This field is not used by ITCC so leave blank. TAB and the cursor moves to the Transfer Data block.

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Transfer Data block: Since the tag did not generate from an invoice or journal voucher these field should initially be blank. Date: The date on which the item is moved from one responsible entity to another. Display only and generated from FFATRAN. COA: Chart of Accounts, Enter “C”. Organization: Organization that is responsible for the item. Enter the Org Code for the department that is responsible for the asset. If form FFATRAN has been used to transfer an asset, the most recent update will display. To change this field later, use form FFATRAN. Location: The Location field is required. It is the building and room code where the asset is located. Select from the drop down list. Future changes must be made on the FFATRAN form. For an explanation of location codes reference the instructions for running report FGRLOCH in this manual. The Grant field is the grant which funded the asset, if applicable. Leave blank for a donated gift. The Custodian ID field is the person who has physical custody of the item or has knowledge of where the item is located. Select from the drop down list. Future changes must be made on the FFATRAN form. The Equipment Manager field is the EDF for the region. Select from the drop down list. Future changes must be made on the FFATRAN form.

47

View of the Procurement Information screen at this point:

48

Next Block [Ctrl>PgDn] to the Funding Source screen. The system saves the updated record again.

49

Enter C for College in the COA field, if not defaulted.

50

Fund field: Enter the General Operating Fund for the Region where the gift was received.

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Account: Enter the appropriate asset account for the gift. information in the next block. A601 Inventory items (items < $3,000) A609 A602 Land A610 A603 Land Improvements A611 A604 Infrastructure A612 A605 Buildings & Improvements A613 A606 Leasehold Improvements A614 A607 Mobile Units & Improvements A616 A608 Instructional Equipment

This field populates the capitalization Office Furniture & Equipment Artwork Vehicles & Machinery Data Processing Equipment Computer Software Instructional Publications Library Materials

52

Orgn, Prog, Actv, Locn, and Proj should all be left blank.

53

Cost: Enter the value of the gift which should be provided by the EDF or Business Office.

54

View of the Funding Source screen to this point:

55

Next Block [Ctrl>PgDn] to the Capitalization Information screen. The system saves the updated record again. The Capitalization Information screen is populated based upon the data you entered in the Funding Source screen.

56

The New Sequence icon is not used at this time.

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Perform a Next Block [Ctrl>PgDn] to navigate to the User Fields screen.

Ivy Tech does not use this screen so perform a Next Block [Ctrl>PgDn] to navigate to the Master Information screen. 58

The Cost, Total Cost, Net Book Value, and Total Net Book Value should now be displayed. Save the record again (F10).

59

Perform a Quit function (Ctrl>q) to return to the Main Menu.

Exercise 3b: Capitalize a Gift Received which is > $2,999.99 Step

Action

1

Type FFAADJF in the GO TO field and press enter. The Fixed Asset Adjustment form displays. Type NEXT in the Document Code field. Do not enter the P-Tag or O-Tag number in this field. Function Code: Select SCAP Ptag Capitalization

2

Perform a Next Block [Ctrl>PgDn].

3

Description: This will show in the ledgers and queries as the description for the adjustment. Use your regional numeric prefix and your initials, then a brief description of the adjustment, and the tag number. For example “131 JAA Cap A234567”.

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Transaction Date: The transaction date must be within the fiscal year that the asset was received. Usually the current fiscal month can be used. During July, you may need to back date it to June to capitalize it in the previous fiscal year if necessary.

5

Document Reference: Not used by ITCC.

6

Perform a Next Block [Ctrl>PgDn] to the Asset Data block.

7

Item: System supplied and display only.

8

Permanent Tag: Enter the P-Tag number of the gift you wish to capitalize. The description of the asset, Net Book Value, and Amount default from the P-Tag #.

9

Leave the Disposal Method field blank, as it is not applicable to capitalizing a gift.

10

View of the adjustment at this point:

11

Perform a Next Block [Ctrl>PgDn] to navigate to the Completion block. (You may notice the system jumps past a screen. This is normal.)

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Document Code: The system assigned adjustment number. If the Asset and Accounting amounts agree, click “Complete”. If the Asset and Accounting amounts don’t agree, click “In Process”.

If you clicked “Complete” you will see a message at the bottom of the screen that the document was completed and forwarded to the approval process. If you clicked “In Process”, you will need to research why the amounts are different. Use form FFIMAST to query the permanent tag for discrepancies on the Capitalization Information Screen and Funding Source screens. The amount in the Cost field on the Capitalization Information screen is the amount that feeds to FFAADJF to be capitalized. If you find a discrepancy, contact the Director of Capital Assets and Debt Accounting for assistance.

Exercise 3c: Create the depreciation record for a capitalized, depreciable gift. Step

Action

1

The adjustment entered in FFAADJF must be approved and posted before the depreciation record can be created. To verify this, view FFIMAST and the Capitalization Indicator. A checkmark indicates it has been capitalized.

2

Once it has been capitalized, follow instructions in Exercise 2 “Creating Depreciation Records”.

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Recording Library Materials The capitalization level for library materials is $35 per book or set of books per Ivy Tech policy. Because the Banner fixed asset system is set up to capitalize an invoice item when it is $3,000 or more, a single purchase of books is not likely to reach that level. For this reason, purchases of library materials should be charged to account 3411 (Library Org) at the time of purchase. At regular intervals throughout the year or when the balance in account 3411 reaches $3,000, a journal voucher (JV) should be entered to reclassify the expense to account 4011. At fiscal year-end the balance in account 3411 must be $0. The posted journal voucher will generate a D-Tag. Contact the Director of Capital Assets and Debt Accounting to request the conversion of the D-Tag to an O-Tag. The Director of Capital Assets and Debt Accounting will communicate the O-Tag number to you. If the line of the JV that generated the D-Tag was $3,000 or more, the O-Tag should already be capitalized. The first Library Materials O-Tag in a fiscal year will be the Primary tag for that fiscal year. All other Library Material O-Tags in that fiscal year will be attached to the Primary tag of that year.

Once the O-Tag has been created, these steps should be followed to appropriately record Library Materials: Primary Tag for the fiscal year a. If the tag was less than $3,000, update the capitalization information for the tag on FFAMAST. b. If necessary capitalize the O-Tag c. If the O-Tag is the first library material tag of the year, convert it to a P-Tag (which will be the Primary Tag). d. Create the Depreciation Record for the P-Tag. Second & subsequent tags for the fiscal year a. If the tag was less than $3,000, update the capitalization information for the tag on FFAMAST. b. If necessary capitalize the O-Tag e. If the O-Tag is the second or subsequent library material tag of the year, attach the O-Tag to the Primary tag of that year. f. If the O-Tag became an attachment of the Primary tag, verify the new “Asset Depreciation Expense distribution” FOAP sequence on FFADEPR, and correct it if necessary.

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Exercise 4a: Update capitalization information for an O-Tag Step 1

Action To determine if the O-Tag has already been capitalized, Go To FFIMAST. Enter the O-Tag number in the Asset Tag field and Next Block. View the Master Information Screen and the Capitalization Indicator field.

If it is unchecked, the tag is not capitalized and you should continue with exercise 4a. If it is checked, skip to: Exercise 4c if it is the first library material tag of the year or Exercise 4e if it is the second or subsequent library material tag for the year. 2

Perform a Quit function (Ctrl>q) to return to the main menu.

3

Go To FFAMAST.

4

Enter the O-Tag number for the Library materials in the Asset Tag field. Select the Action Origination Tag - Update Asset.

5

Perform a Next Block [Ctrl>PgDn] to the Master Information screen.

6

Leave the Permanent Tag field blank.

7

Leave the Primary Tag field blank.

8

Leave the Subordinate Type field blank.

9

The Asset Description will default. If necessary change it to include the regional numeric prefix, your initials, and the Fiscal Year it is being capitalized i.e. “901 JAA FY 12 Library Materials”

10

The Commodity field may be entered if desired.

11

The Unit of Measure may default if from an invoice.

12

Select “BR Library Materials” for the Asset Type from the drop down list.

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User Status Code field is required when the asset was purchased with grant monies. To determine if the item was purchased via a grant, Next Block [Ctrl>PgDn] to the Procurement Information screen and view the Grant field in the Transfer Data block. If there is no grant code, go to step 14. If there is a Grant Code, use the Go To shortcut (F5) to view FRAGRNT. The Go To shortcut allows you to view another form without leaving the current form. In the Go To field type FRAGRNT.

13b

Enter the grant code in the Grant field. Next Block [Ctrl>PageDown]. The grant details are displayed. View the Grant Type field and make a note of it.

13c

Close [Ctrl>Q] the FRAGRNT form. Hit the F5 key again to remove the Go To field. You will be returned to FFAMAST.

13d

Previous Block [Ctrl>PageUp] twice to return to the Master Information screen. Enter the appropriate code to identify the type of the grant funding in the User Status Code field: F = Federal Grant L = Local Grant P = Private Grant S = State Grant

14

The Origination Tag Date is date the system generated the Otag. Display only.

15

The Permanent Tag Date is the date the O-Tag was converted to a P-Tag and should be blank since not converted yet. Display only.

16

The System Status Code shows current system status of the asset master record. Display only. C = Cancelled invoice/check D = Disposed G = Gift/Donation I = Origination tag created from invoice J = Origination tag created from journal voucher N = Non-Banner procured asset O = Converted from legacy system

17

The Capitalization Indicator is system supplied. If checked, indicates that the item has been recorded as a capital asset (not just an expense) in the financial statements of the College.

18

Asset Text Exists: If checked, indicates whether text exists for this asset. Display Only. To add additional text to an asset record, select “Document Text [FOATEXT]” from the Options menu. Type your text in the Text field. Each line has a maximum of 50 characters. If necessary, perform a Next Record function (Down Arrow Key) to access the next line and finish typing the information. Check the Print box for each line. Perform a SAVE function (F10). You should see an information line at the bottom of the screen stating “Transaction Complete…” Perform a Quit function (Ctrl>q) to return to FFAMAST.

19

If checked, the Tag in Use field indicates that the asset record is being adjusted or depreciated by another user or process.

20

If checked, the Gift Indicator field indicates the asset was created using the Gift action. Display only.

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The Cost field is system calculated & display only. It is the unadjusted historical cost of the item. (i.e. invoice cost or amount from the journal voucher).

22

The Total Cost field is system calculated & display only. It is the original (historical) cost of the item minus credit memos, and plus original cost of attachments.

23

The Net Book Value field is system calculated & display only. It is the original cost of a capital asset, plus adjustments, and less accumulated depreciation. Net Book Value for an inventory item which is not capitalized will show $0.

24

The Total Net Book Value field is system calculated & display only. It is the original cost of a capital asset including its attachments, plus or minus adjustments, less accumulated depreciation for the primary asset and all its attachments. Total Net Book Value for an inventory item which is not capitalized will show $0.

25

View of the Master Information screen at this point:

26

Next Block [Ctrl>PgDn] to the Acquisition Information screen.

27

The Acquisition Method field is a required field. Use the “Search” icon to select the appropriate method from the drop down list.

28

Enter the date the asset was acquired in the Acquisition Date field. Use invoice date or if it is a gift, use the date the gift was received.

29

Make: User supplied information. Enter explicit information which will help identify the asset. Model: User supplied information. Enter explicit information which will help identify the asset. Manufacturer: User supplied information. Enter explicit information which will help identify the asset.

30

The Serial Number or VIN (Vehicle Identification No.) field is an Ivy Tech policy required field, if applicable, and is user supplied and informational only.

31

The Part Number or Vehicle Tag field is used for a vehicle license plate number or other external reference number, and is user supplied and informational only.

32

The User Reference Number: If the item converted over from the legacy system, this field will display the asset # from the legacy system. Otherwise this field is not used.

33

The Bar Code Number field is informational only. Enter the barcode tag # here if you wish. It should be the same as your permanent tag #.

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The In Service Date field is informational only and user supplied. Should be the date the asset was placed into service.

35

The Last Inventory Date field is informational only and user supplied. May be updated after each physical inventory.

36

Percentage Used field – Leave blank. Not applicable to ITCC.

37

Work In Progress field – Leave blank. Not applicable to ITCC.

38

The Condition Code field indicates the condition of the asset at time of purchase or receipt. Select from the drop down list. (To change the condition code later, use form FFATRAN).

39

The Title To field is an Ivy Tech policy required field. Identifies which site has ownership of and responsibility for the asset. Select from the drop down list.

40

The Disposal Method field is display only. Updated by the system when the asset is disposed of or written off using the adjustment form (FFAADJF).

41

The Disposal Date field is display only. Updated by the system when the asset is disposed of or written off using the adjustment form (FFAADJF).

42

View of the Acquisition Information to this point:

43

Next Block [Ctrl>PgDn] to the Procurement Information screen.

44

If the tag was generated from an invoice, the top block displays the purchase order and invoice information. Display only.

45

If the tag was generated from a journal voucher, the Other Source Data block displays information from that journal voucher. Display only.

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Transfer Data block: Displays the most recent information from the Fixed Asset Transfer form (FFATRAN). Date: The date on which the item is moved from one responsible entity to another. Display only. COA: Chart of Accounts Organization: Organization that is responsible for the item. Defaults in from the invoice or JV. Display only. If form FFATRAN has been used to transfer an asset, the most recent update will display. Location: The Location field is required. It is the building and room code where the asset is located. Select from the drop down list. Future changes must be made on the FFATRAN form. For an explanation of location codes reference the instructions for running report FGRLOCH in this manual. The Grant field is the grant which funded the asset, if applicable. Will default from the invoice or JE. Future changes must be made on the FFATRAN form. The Custodian ID field is the person who has physical custody of the item or has knowledge of where the item is located. Select from the drop down list. Future changes must be made on the FFATRAN form. The Equipment Manager field is the EDF for the region. Select from the drop down list. Future changes must be made on the FFATRAN form.

47

View of the Procurement Information screen at this point:

48

Next Block [Ctrl>PgDn] to the Funding Source screen.

The Funding Source block shows the FOAPAL codes from the invoice or JV which generated the tag. Do not make changes here. Make note of the Cost amount which will be used on the next screen. Training Discipline and Topic

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Perform a Next Block [Ctrl>PgDn] to navigate to the Capitalization Information block.

50

Notice the Cost field shows $0. This field needs to reflect the amount which will be capitalized.

51

Click the New Sequence icon to create a new sequence to change the Cost amount. TAB to the Cost field being careful not to change any of the other fields. Type the amount of the tag which was reflected on the Funding Source screen. Save the record (F10). Note that the Adjusted Cost field is now populated.

52

View of the Capitalization Screen at this point:

53

Perform a Next Block [Ctrl>PgDn] to navigate to the User Fields screen.

Ivy Tech does not use this screen so perform a Next Block [Ctrl>PgDn] to navigate to the Master Information screen. 54

The Master Information screen displays. Save the record (F10). If the system has not already saved the record, the hint line will state “Transaction Complete…”.

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Exercise 4b: Capitalize the Library Materials O-Tag Step

Action

1

Type FFAADJF in the GO TO field and press enter. The Fixed Asset Adjustment form displays. Type NEXT in the Document Code field. Do not enter the P-Tag or O-Tag number in this field. Function Code: Select SCAO Otag Capitalization

2

Perform a Next Block [Ctrl>PgDn].

3

Description: This will show in the ledgers and queries as the description for the adjustment. Use your regional numeric prefix and your initials, then a brief description of the adjustment, and the tag number. For example “181 JAA Cap T00083279”.

4

Transaction Date: The transaction date must be within the fiscal year that the asset was received. Usually the current fiscal month can be used. During July, you may need to back date it to June to capitalize it in the previous fiscal year if necessary.

5

Document Reference: Not used by ITCC.

6

Perform a Next Block [Ctrl>PgDn] to the Asset Data block.

7

Item: System supplied and display only.

8

Origination Tag: Enter the O-Tag number of the tag you wish to capitalize. The description of the asset, Net Book Value, and Amount default from the O-Tag #.

9

Leave the Disposal Method field blank, as it is not applicable for capitalizing a tag.

10

View of the adjustment at this point:

11

Perform a Next Block [Ctrl>PgDn] to navigate to the Completion block. (You may notice the system jumps past a screen. This is normal.)

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Document Code: The system assigned adjustment number. If the Asset and Accounting amounts agree, click “Complete”. If the Asset and Accounting amounts don’t agree, click “In Process”.

If you clicked “Complete” you will see a message at the bottom of the screen that the document was completed and forwarded to the approval process. If you clicked “In Process”, you will need to research why the amounts are different. Use form FFIMAST to query the permanent tag for discrepancies on the Capitalization Information Screen and Funding Source screens. The amount in the Cost field on the Capitalization Information screen is the amount that feeds to FFAADJF to be capitalized. If you find a discrepancy, contact the Director of Capital Assets and Debt Accounting for assistance. 13

If this O-Tag will become the Primary Tag for the fiscal year, go to exercise 4c If this O-Tag will be an attachment to the Primary Tag, go to exercise 4e.

Exercise 4c: Convert the Library Material O-Tag to a P-Tag (which will be the Primary tag) Step

Action

1

The capitalization adjustment entered in FFAADJF should be approved and posted before the tag can be converted. To verify this, view FFIMAST and the Capitalization Indicator. A checkmark indicates it has been capitalized.

2

Once it has been capitalized, continue with these instructions.

3

Return to the Main Menu. Type FFAMAST in the GO TO field and press enter. The Fixed Asset Master Maintenance form displays.

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Type the O-Tag number in the Asset Tag field. If necessary, you may search for the O-Tag number. With your cursor in the Asset Tag field, display the list of values by using the “F9” key on the keyboard. Form FFIFALV will display. Check the “Origination Tag” radio button and Next Block [Ctrl>PgDn]. Tab to the Asset Description field and enter search criteria. The description displayed will be the description you used on FFAMAST in exercise 4a. The asset description may also be viewed on FFIMAST. Use wildcards in your search.

Execute the query (F8) and the results are displayed. View the results and double-click the appropriate O-Tag number to return it to FFAMAST.

Select the Action Convert to permanent tag. Next Block [Ctrl>PgDn].

5

The Master Information screen is displayed.

6

Enter the pre-printed barcode tag # in the Permanent Tag field. The system checks for duplicate P-Tags so be sure to enter the tag # correctly. (Required field)

7

Leave the Primary Tag field blank.

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Leave the Subordinate Type field blank

9

Asset Description: The description from the commodity line on the invoice or the JV description will default here, depending on which generated the tag. If necessary change the description to something that will be useful for identifying the asset. It is recommended you use your regional numeric prefix and your initials to aid future queries and reports. (i.e. 181 JAA FY 12 Library Materials)

10

The Commodity field will default from the invoice if one was used and is display only. If nothing defaulted, you may select one by clicking the “Search” button, if desired.

11

The Unit of Measure will default from the invoice and is display only. If nothing defaulted, leave blank.

12

Asset Type: Should default from when the capitalization information was updated in exercise 4a. Can be changed now if necessary. It is important to select the proper type because it determines the asset’s useful life for depreciation purposes. Please reference the job aid provided in this training manual for additional information. Required field. Note: Asset Types for items that are not capitalized and which are simply in the system for tracking purposes all begin with “X”.

13a

User Status Code field is required when the asset was purchased with grant monies. To determine if the item was purchased via a grant, Next Block [Ctrl>PgDn] to the Procurement Information screen and view the Grant field in the Transfer Data block. If there is no grant code, go to step 14. If there is a Grant Code, use the Go To shortcut (F5) to view FRAGRNT. The Go To shortcut allows you to view another form without leaving the current form. In the Go To field type FRAGRNT.

13b

Enter the grant code in the Grant field. Next Block [Ctrl>PageDown]. The grant details are displayed. View the Grant Type field and make a note of it.

13c

Close [Ctrl>Q] the FRAGRNT form. Hit the F5 key again to remove the Go To field. You will be returned to FFAMAST.

13d

Previous Block [Ctrl>PageUp] twice to return to the Master Information screen. Enter the appropriate code to identify the type of the grant funding in the User Status Code field: F = Federal Grant L = Local Grant P = Private Grant S = State Grant

14

Insurance Value: Optional field which is informational only. Market Value: Optional field which is informational only. Replacement Value: Optional field which is informational only. Book Value: Optional field which is informational only.

15

The Origination Tag Date is date the system generated the O-Tag. Display only.

16

The Permanent Tag Date is the date the O-Tag was converted to a P-Tag. Display only.

17

The Last Adjustment Date is the last date the asset was adjusted using form FFAADJF or the depreciation process. Display only.

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The Origination Tag Cancel Date is populated if the invoice or check associated with this asset has been cancelled or when the tag is inactivated using the FFADTGP form. Display only.

19

The System Status Code shows current system status of the asset master record. Display only. C = Cancelled invoice/check D = Disposed G = Gift/Donation I = Origination tag created from invoice J = Origination tag created from journal voucher N = Non-Banner procured asset O = Converted from legacy system

20

The Capitalization Indicator is system supplied. If checked, indicates that the item has been recorded as a capital asset (not just an expense) in the financial statements of the College.

21

Asset Text Exists: If checked, indicates whether text exists for this asset. Display Only. To add additional text to an asset record, select “Document Text [FOATEXT]” from the Options menu. Type your text in the Text field. Each line has a maximum of 50 characters. If necessary, perform a Next Record function (Down Arrow Key) to access the next line and finish typing the information. Check the Print box for each line. Perform a SAVE function (F10). You should see an information line at the bottom of the screen stating “Transaction Complete…” Perform a Quit function (Ctrl>q) to return to FFAMAST.

22

If checked, the Tag in Use field indicates that the asset record is being adjusted or depreciated by another user or process.

23

If checked, the Gift Indicator field indicates the asset was created using the Gift action. Display only.

24

The Cost field is system calculated & display only. It is the unadjusted historical cost of the item. (i.e. invoice cost).

25

The Total Cost field is system calculated & display only. It is the original (historical) cost of the item minus credit memos, and plus original cost of attachments.

26

The Net Book Value field is system calculated & display only. It is the original cost of a capital asset, plus adjustments, and less accumulated depreciation. Net Book Value for an inventory item which is not capitalized will show $0.

27

The Total Net Book Value field is system calculated & display only. It is the original cost of a capital asset including its attachments, plus or minus adjustments, less accumulated depreciation for the primary asset and all its attachments. Total Net Book Value for an inventory item which is not capitalized will show $0.

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View of the Master Information to this point:

29

Next Block [Ctrl>PgDn] to the Acquisition Information screen.

30

The Acquisition Method field is a required field. It should already be populated from Exercise 4a but may be changed if necessary. Use the “Search” icon to select the appropriate method from the drop down list.

31

Acquisition Date: Should already be populated from Exercise 4a but may be changed if necessary. Use the “Search” icon to select the appropriate method from the drop down list.

32

Make: User supplied information. Enter explicit information which will help identify the asset. Model: User supplied information. Enter explicit information which will help identify the asset. Manufacturer: User supplied information. Enter explicit information which will help identify the asset.

33

The Serial Number or VIN (Vehicle Identification No.) field is an Ivy Tech policy required field and is user supplied and informational only.

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The Part Number or Vehicle Tag field is used for a vehicle license plate number or other external reference number, and is user supplied and informational only.

35

The User Reference Number: If the item converted over from the legacy system, this field will display the asset # from the legacy system. Otherwise this field is not used.

36

The Bar Code Number field is informational only. Enter the barcode tag # here if you wish. It should be the same as your permanent tag #.

37

The In Service Date: Should already be populated from Exercise 4a but may be changed if necessary.

38

The Last Inventory Date field is informational only and user supplied. May be updated after each physical inventory.

39

Percentage Used field – Leave blank. Not applicable to ITCC.

40

Work In Progress field – Leave blank. Not applicable to ITCC.

41

The Condition Code field indicates the condition of the asset at time of purchase or receipt. Should already be populated from Exercise 4a. (To change the condition code, use form FFATRAN).

42

The Title To field is an Ivy Tech policy required field. Identifies which site has ownership of and responsibility for the asset. Should already be populated from Exercise 4a. (To change the condition code, use form FFATRAN).

43

The Disposal Method field is display only. Updated by the system when the asset is disposed of or written off using the adjustment form (FFAADJF).

44

The Disposal Date field is display only. Updated by the system when the asset is disposed of or written off using the adjustment form (FFAADJF).

45

View of the Acquisition Information to this point:

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Next Block [Ctrl>PgDn] to the Procurement Information screen.

47

If the tag was generated from an invoice, the top block displays the purchase order and invoice information. Display only.

48

If the tag was generated from a journal voucher, the Other Source Data block displays information from that journal voucher. Display only.

49

Transfer Data block: Displays the most recent information from the Fixed Asset Transfer form (FFATRAN) or previous updates on FFAMAST. Date: The date on which the item is moved from one responsible entity to another. Display only. COA: Chart of Accounts Organization: Organization that is responsible for the item. Defaults in from the invoice or JV. Display only. If form FFATRAN has been used to transfer an asset, the most recent update will display. To change this field, use form FFATRAN. Location: The Location field is required. It is the building and room code where the asset is located. Select from the drop down list. Future changes must be made on the FFATRAN form. For an explanation of location codes reference the instructions for running report FGRLOCH in this manual. The Grant field is the grant which funded the asset, if applicable. Will default from the invoice or JE. Future changes must be made on the FFATRAN form. The Custodian ID field is the person who has physical custody of the item or has knowledge of where the item is located. Select from the drop down list. Future changes must be made on the FFATRAN form. The Equipment Manager field is the EDF for the region. Select from the drop down list. Future changes must be made on the FFATRAN form.

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View of the Procurement Information screen at this point:

51

Next Block [Ctrl>PgDn] to the Funding Source screen.

The Funding Source block shows the FOAPAL codes from the invoice or JV which generated the tag. Do not make changes here. 52

Perform a Next Block [Ctrl>PgDn] to navigate to the Capitalization Information block.

53

The Change Sequence field is system controlled and keeps track of any changes made to the capitalization accounting distributions. Display only; do not attempt to change.

54

The Sequence field is system controlled and is the number assigned for each capitalization distribution change. Display only; do not attempt to change.

55

The COA field defaults from the invoice or the journal entry that originally created the tag. Display only; do not attempt to change.

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Document: Original source document of the tag. Display only; do not attempt to change.

57

The Capitalization Fund field defaults and is the fund code to which the automatic capitalization was made. Display only; do not attempt to change. If the item is not a capitalized asset, this field will be blank.

58

Equity Account defaults and is the equity account to which automatic capitalization was made. Display only; do not attempt to change. If the item is not a capitalized asset, this field will be blank.

59

Asset Account defaults and is the asset account to which automatic capitalization was made. Display only; do not attempt to change. If the item is not a capitalized asset, this field will be blank.

60

Accumulated Depreciation Account defaults and is the accumulated depreciation account which will record the depreciation for this asset. Display only; do not attempt to change. If the item is not a capitalized asset, this field will be blank.

61

Bank Code: Defaults from the invoice if the tag generated from a Banner invoice. Display only; do not attempt to change.

62

Direct Asset Indicator: Indicator that is set when an asset is capitalized directly, i.e. when a Fixed Asset Account code is used on FAAINVE instead of a capital expense account code. That is not normal practice for Ivy Tech. Display only; do not attempt to change.

63

Attachment Origination Tag: O-Tag number of an attachment. This field should be blank when initially converting an O-Tag to a P-Tag. Display only; do not attempt to change.

64

Cost: Unadjusted historical cost of a capitalized asset. Display only; do not attempt to change. If the item is not a capitalized asset, this field will show $0.

65

The Adjusted Cost field is system calculated as the total cost plus or minus any adjustments. Display only; do not attempt to change. If the item is not a capitalized asset, this field will show $0.

66

Percentage: System calculated as the percentage of the total asset for the accounting distribution. Display only; do not attempt to change.

67

The Accumulated Depreciation field is system calculated and is the life-to-date accumulated depreciation expense for the asset. Display only; do not attempt to change. If the item is not a capitalized asset, this field will show $0.

68

The Depreciation or Posting Indicator field is initially blank. Once a capital asset has a depreciation record set up on FFADEPR, this indicator will change to “Post Depreciation”. Display only; do not attempt to change here. If the item is not a capitalized asset, this field should be blank.

69

The New Sequence icon is not used at this time.

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Perform a Next Block [Ctrl>PgDn] to navigate to the User Fields screen.

Ivy Tech does not use this screen so perform a Next Block [Ctrl>PgDn] to navigate to the Master Information screen. 71

The Master Information screen displays. Save the record (F10). If the system has not already saved the record, the hint line will state “Transaction Complete…”.

72

Depreciable capital assets must have a depreciation record created in Banner. To create the depreciation record select “Depreciation Information [FFADEPR]” from the Options menu. Follow the instructions in Exercise 4d.

Exercise 4d: Create the Depreciation Record for the P-Tag (Primary tag) Step 1

Action If you are not already at form FFADEPR, return to the main menu and type FFADEPR in the GO TO field and press enter. The Fixed Asset Depreciation form displays. The form will default in the last Permanent Tag number you were just viewing or updating. If this is not the P-Tag number you need, enter the correct P-Tag number. Next Block [Ctrl>PgDn] and some of the fields will prepopulate.

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Primary Tag: If the P-Tag number entered is a component of another asset, the permanent tag number of the parent asset is displayed in this field.

3

Subordinate Type: Will display “Component” if the selected asset is a component of another asset.

4

System Status: Current system status on the fixed asset master record. Display only. Cancelled invoice Disposed Gift Invoiced Source journal voucher Non-Banner procured asset Converted from legacy system

5

Depreciation Method: should default to “SL-Straight Line”. This is the only method the college uses. If it defaults blank, please verify that you are not setting up depreciation for a nondepreciable item. (Double check the asset type on FFIMAST.) If it defaults another method, please select SL from the drop down list.

6

Useful Life: Defaults based upon the asset type used on FFAMAST. Display only-do not change. If the asset type was a Capital Lease type, the useful life field will be blank. Contact the Director of Capital Assets and Debt Accounting to determine the useful life then enter it here.

7

Frequency: The basis of the periodic depreciation calculation which is always Annual for Ivy Tech, so select “Annual” and TAB.

8

Remaining Periods: Number of periods left for depreciation purposes after the last depreciation process. Once you select the Frequency and TAB the remaining periods will populate. System calculated and display only.

9

Salvage Value: Leave blank because it is not used by Ivy Tech.

10

Total Adjusted Cost: Original cost plus attachments, plus/minus adjustments. System calculated and display only.

11

Start Date: Use any date within the fiscal year that the asset was capitalized in. This determines the fiscal year that the asset starts depreciating.

12

Accumulated Depreciation: Sum of all depreciation for the P-Tag; including attachments. System calculated and display only.

13

Last Depreciation Date: The last time the asset and depreciation information was updated by the depreciation process. This field is not updated by depreciation adjustments done via FFAADJF. System calculated and display only.

14

Total Net Book Value: Total cost of the asset plus attachments, plus/minus adjustments, and less accumulated depreciation for the asset and attachments, if any. System calculated and display only.

15

Last Activity Date: Date the record was last updated by the user. Display only.

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Perform a Next Block [Ctrl>PgDn] to navigate to the Asset Depreciation Expense Distribution block. All fields in this block should default to the appropriate value listed below. If it does not default correctly, enter only the values indicated below: COA: C Fund: P94000 Organization: 901090 Account: 7501 Program: DEP003 Activity: Leave blank Location: Leave blank

17

TAB to the Posting Code field. Select “(P)ost Deprec”. This must be populated so that the system records depreciation for this asset when the depreciation process is run. Save the record (F10)

18

The depreciation record should look comparable to this:

19

To verify that the depreciation record was established and depreciation will calculate, view the depreciation/posting indicator on the asset record. Exit form FFADEPR and go to FFIMAST. Enter the Permanent tag #. Navigate to the Capitalization Information screen. You should see “(P)ost Depreciation” in the Depreciation/Posting Indicator field. If you do not see this, go back to FFADEPR and resave the record.

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Exercise 4e: Attach a library materials O-Tag to the Primary P-Tag. Step

Action

1

Go To FFAMAST. Asset Tag: Enter the O-Tag number that will be attached to the Primary tag. Action: Select “Origination Tag – Update Asset”.

2

Perform a Next Block [Ctrl>PgDn] to the Master Information screen.

3

Permanent Tag: You will not be able to enter a permanent tag number because this O-Tag will assume the P-Tag number of the Primary asset

3

Primary Tag: Enter the P-Tag number of the Primary library materials tag for the relevant fiscal year.

4

Subordinate Type: Select “Attached to”.

5

Asset Type: Should already be populated. If necessary, select “BR Library Materials”.

6

If exercise 4a was completed accurately, it should not be necessary to update any other fields. Save the record (F10).

7

Perform a Quit function (Ctrl>q) to return to the main menu.

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Exercise 4f: Verify FFADEPR updated with new sequence. Step 1

Action Go To FFADEPR. Permanent Tag: Enter the Primary tag number of the Library Asset.

Perform a Next Block [Ctrl>PgDn]. 2

View the Asset Depreciation Expense Distribution block to verify that another FOAPAL sequence was added.

3

View the FOAPAL codes to verify they are correct. They should match the codes below. If they are not correct, change them. COA: C Fund: P94000 Organization: 901090 Account: 7501 Program: DEP003 Activity: Leave blank Location: Leave blank

4

TAB to the Posting Code field. Select “(P)ost Deprec”. This must be populated so that the system records depreciation for this asset when the depreciation process is run.

5

Save the record (F10).

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Attachments Attachments to Primary Tags are necessary when two or more tags need to be consolidated into one asset. Attachments assume the remaining useful life of the Primary asset and are depreciated along with the Primary asset. View FFADEPR to verify the Primary tag still has some remaining useful life before doing the attachment. If not, contact the Director of Capital Assets and Debt Accounting to discuss the appropriate course of action. Attachments do not have their own unique P-Tag number; they assume the P-Tag number of the Primary asset as their P-Tag number. Examples of attachments include (not intended to be a complete list): Shipping charges on a capital item Remodel to an existing building Lens for a camera (non-capital item) Capitalized items may only be attached to capital Primary Tags. Likewise, non-capitalized items may only be attached to non-capitalized Primary Tags. Only O-Tags, not D-Tags, may be attached to a Primary Tag. If a D-Tag needs to be converted to an OTag for attachment purposes, contact The Director of Capital Assets and Debt Accounting. The Director will perform the conversion and communicate the O-Tag number to you.

Steps to attach an O-Tag to a Primary tag: The Primary tag must be converted to a P-Tag before any attachments can be made (Exercise 1). a. If the tag which is being attached was less than $3,000, & it is being attached to a capital Primary tag, update the capitalization information for the tag on FFAMAST. (If the tag was less than $3,000, & it is not being attached to a capital Primary tag, start with step d.) b. If necessary capitalize the O-Tag c. If the tag was less than $3,000, & it is not being attached to a capital Primary tag, only complete step d. d. Attach the O-Tag to the Primary tag. e. For capitalized Primary tags verify the new “Asset Depreciation Expense distribution” FOAP sequence on FFADEPR, and correct it if necessary.

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Exercise 5a: Update capitalization information for an O-Tag. Step 1

Action To determine if the O-Tag has already been capitalized, Go To FFIMAST. Enter the O-Tag number in the Asset Tag field and Next Block. View the Master Information Screen and the Capitalization Indicator field.

If it is unchecked, the tag is not capitalized and you should continue with exercise 5a. If it is checked, skip to Exercise 5d. 2

Perform a Quit function (Ctrl>q) to return to the main menu.

3

Go To FFAMAST.

4

Enter the O-Tag number for the attachment in the Asset Tag field. Select the Action Origination Tag - Update Asset.

5

Perform a Next Block [Ctrl>PgDn] to the Master Information screen.

6

Leave the Permanent Tag field blank.

7

Leave the Primary Tag field blank.

8

Leave the Subordinate Type field blank.

9

The Asset Description will default. If necessary change it to include the regional numeric prefix, your initials, and a description of the item i.e. “131 JAA shipping scissor lift”

10

The Commodity field may default if from an invoice. Otherwise may be entered.

11

The Unit of Measure may default if from an invoice. Otherwise may be entered.

12

Select the Asset Type from the drop down list. Reference the “Asset Types Job Aid” in this manual. In many cases, the asset type will be the same as the primary tag. This is the case for things like shipping charges and pieces/parts of capital assets. For R & R projects, you will select the appropriate R&R asset type.

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Ivy Tech Community College Training Finance – Fixed Assets _____________________________________________________________________________________________ 13a

User Status Code field is required when the asset was purchased with grant monies. To determine if the item was purchased via a grant, Next Block [Ctrl>PgDn] to the Procurement Information screen and view the Grant field in the Transfer Data block. If there is no grant code, go to step 14. If there is a Grant Code, use the Go To shortcut (F5) to view FRAGRNT. The Go To shortcut allows you to view another form without leaving the current form. In the Go To field type FRAGRNT.

13b

Enter the grant code in the Grant field. Next Block [Ctrl>PageDown]. The grant details are displayed. View the Grant Type field and make a note of it.

13c

Close [Ctrl>Q] the FRAGRNT form. Hit the F5 key again to remove the Go To field. You will be returned to FFAMAST.

13d

Previous Block [Ctrl>PageUp] twice to return to the Master Information screen. Enter the appropriate code to identify the type of the grant funding in the User Status Code field: F = Federal Grant L = Local Grant P = Private Grant S = State Grant

14

The Origination Tag Date is date the system generated the Otag. Display only.

15

The Permanent Tag Date is the date the O-Tag was converted to a P-Tag and should be blank since not converted yet. Display only.

16

The System Status Code shows current system status of the asset master record. Display only. C = Cancelled invoice/check D = Disposed G = Gift/Donation I = Origination tag created from invoice J = Origination tag created from journal voucher N = Non-Banner procured asset O = Converted from legacy system

17

The Capitalization Indicator is system supplied. If checked, indicates that the item has been recorded as a capital asset (not just an expense) in the financial statements of the College.

18

Asset Text Exists: If checked, indicates whether text exists for this asset. Display Only. To add additional text to an asset record, select “Document Text [FOATEXT]” from the Options menu. Type your text in the Text field. Each line has a maximum of 50 characters. If necessary, perform a Next Record function (Down Arrow Key) to access the next line and finish typing the information. Check the Print box for each line. Perform a SAVE function (F10). You should see an information line at the bottom of the screen stating “Transaction Complete…” Perform a Quit function (Ctrl>q) to return to FFAMAST.

19

If checked, the Tag in Use field indicates that the asset record is being adjusted or depreciated by another user or process.

20

If checked, the Gift Indicator field indicates the asset was created using the Gift action. Display only.

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The Cost field is system calculated & display only. It is the unadjusted historical cost of the item. (i.e. invoice cost or amount from the journal voucher).

22

The Total Cost field is system calculated & display only. It is the original (historical) cost of the item minus credit memos, and plus original cost of attachments.

23

The Net Book Value field is system calculated & display only. It is the original cost of a capital asset, plus adjustments, and less accumulated depreciation. Net Book Value for an inventory item which is not capitalized will show $0.

24

The Total Net Book Value field is system calculated & display only. It is the original cost of a capital asset including its attachments, plus or minus adjustments, less accumulated depreciation for the primary asset and all its attachments. Total Net Book Value for an inventory item which is not capitalized will show $0.

25

View of the Master Information screen at this point:

26

Next Block [Ctrl>PgDn] to the Acquisition Information screen.

27

The Acquisition Method field is a required field. Use the “Search” icon to select the appropriate method from the drop down list.

28

Enter the date the asset was acquired in the Acquisition Date field. Use invoice date or if it is a gift, use the date the gift was received.

29

Make: User supplied information. Enter explicit information which will help identify the asset. Model: User supplied information. Enter explicit information which will help identify the asset. Manufacturer: User supplied information. Enter explicit information which will help identify the asset.

30

The Serial Number or VIN (Vehicle Identification No.) field is an Ivy Tech policy required field, if applicable, and is user supplied and informational only.

31

The Part Number or Vehicle Tag field is used for a vehicle license plate number or other external reference number, and is user supplied and informational only.

32

The User Reference Number: If the item converted over from the legacy system, this field will display the asset # from the legacy system. Otherwise this field is not used.

33

The Bar Code Number field is informational only. Enter the barcode tag # here if you wish. It should be the same as your permanent tag #.

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The In Service Date field is informational only and user supplied. Should be the date the asset was placed into service.

35

The Last Inventory Date field is informational only and user supplied. May be updated after each physical inventory.

36

Percentage Used field – Leave blank. Not applicable to ITCC.

37

Work In Progress field – Leave blank. Not applicable to ITCC.

38

The Condition Code field indicates the condition of the asset at time of purchase or receipt. Select from the drop down list. (To change the condition code later, use form FFATRAN).

39

The Title To field is an Ivy Tech policy required field. Identifies which site has ownership of and responsibility for the asset. Select from the drop down list.

40

The Disposal Method field is display only. Updated by the system when the asset is disposed of or written off using the adjustment form (FFAADJF).

41

The Disposal Date field is display only. Updated by the system when the asset is disposed of or written off using the adjustment form (FFAADJF).

42

View of the Acquisition Information to this point:

43

Next Block [Ctrl>PgDn] to the Procurement Information screen.

44

If the tag was generated from an invoice, the top block displays the purchase order and invoice information. Display only.

45

If the tag was generated from a journal voucher, the Other Source Data block displays information from that journal voucher. Display only.

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Transfer Data block: Displays the most recent information from the Fixed Asset Transfer form (FFATRAN). Date: The date on which the item is moved from one responsible entity to another. Display only. COA: Chart of Accounts Enter “C”. Organization: Organization that is responsible for the item. Defaults in from the invoice or JV. May be entered if did not default. If form FFATRAN has been used to transfer an asset, the most recent update will display. Location: The Location field is required. It is the building and room code where the asset is located. Select from the drop down list. Future changes must be made on the FFATRAN form. For an explanation of location codes reference the instructions for running report FGRLOCH in this manual. The Grant field is the grant which funded the asset, if applicable. Will default from the invoice or JE. Future changes must be made on the FFATRAN form. The Custodian ID field is the person who has physical custody of the item or has knowledge of where the item is located. Select from the drop down list. Future changes must be made on the FFATRAN form. The Equipment Manager field is the EDF for the region. Select from the drop down list. Future changes must be made on the FFATRAN form.

47

View of the Procurement Information screen at this point:

48

Next Block [Ctrl>PgDn] to the Funding Source screen.

The Funding Source block shows the FOAPAL codes from the invoice or JV which generated the tag. Do not make changes here. Make note of the Account # and Cost amount which will be needed on the next screen.

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Perform a Next Block [Ctrl>PgDn] to navigate to the Capitalization Information block.

50

Notice the Cost field shows $0. This field needs to reflect the amount which will be capitalized.

51

Click the New Sequence icon to create a new sequence. TAB to the Asset Account field. Enter the appropriate asset account based upon the expense account from the Funding Source Screen (reference the list of “Account Codes that Generate Tags” on page 7).

52

Accumulated Depreciation Account: Once the Asset Account field is populated, this field defaults if appropriate. If nothing defaults, leave blank.

53

TAB to the Cost. Type the dollar amount of the tag which was reflected on the Funding Source screen. Save the record (F10). Note that the Adjusted Cost field is now populated.

54

View of the Capitalization Screen at this point:

55

Perform a Next Block [Ctrl>PgDn] to navigate to the User Fields screen.

Ivy Tech does not use this screen so perform a Next Block [Ctrl>PgDn] to navigate to the Master Information screen. 56

The Master Information screen displays. Save the record (F10). If the system has not already saved the record, the hint line will state “Transaction Complete…”.

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Exercise 5b: Capitalize an O-Tag. Step

Action

1

Type FFAADJF in the GO TO field and press enter. The Fixed Asset Adjustment form displays. Type NEXT in the Document Code field. Do not enter the P-Tag or O-Tag number in this field. Function Code: Select SCAO Otag Capitalization

2

Perform a Next Block [Ctrl>PgDn].

3

Description: This will show in the ledgers and queries as the description for the adjustment. Use your regional numeric prefix and your initials, then a brief description of the adjustment, and the tag number. For example “131 JAA Cap T00083281”.

4

Transaction Date: The transaction date must be within the fiscal year that the asset was received. Usually the current fiscal month can be used. During July, you may need to back date it to June to capitalize it in the previous fiscal year if necessary.

5

Document Reference: Not used by ITCC.

6

Perform a Next Block [Ctrl>PgDn] to the Asset Data block.

7

Item: System supplied and display only.

8

Origination Tag: Enter the O-Tag number of the tag you wish to capitalize. The description of the asset, Net Book Value, and Amount default from the O-Tag #.

9

Leave the Disposal Method field blank, as it is not applicable for capitalizing a tag.

10

View of the adjustment at this point:

11

Perform a Next Block [Ctrl>PgDn] to navigate to the Completion block. (You may notice the system jumps past a screen. This is normal.)

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Document Code: The system assigned adjustment number. If the Asset and Accounting amounts agree, click “Complete”. If the Asset and Accounting amounts don’t agree, click “In Process”.

If you clicked “Complete” you will see a message at the bottom of the screen that the document was completed and forwarded to the approval process. If you clicked “In Process”, you will need to research why the amounts are different. Use form FFIMAST to query the permanent tag for discrepancies on the Capitalization Information Screen and Funding Source screens. The amount in the Cost field on the Capitalization Information screen is the amount that feeds to FFAADJF to be capitalized. If you find a discrepancy, contact the Director of Capital Assets and Debt Accounting for assistance.

Exercise 5d: Attach the O-Tag to the Primary tag. Step

Action

1

Go To FFAMAST. Asset Tag: Enter the O-Tag number that will be attached to the Primary tag. Action: Select “Origination Tag – Update Asset”.

2

Perform a Next Block [Ctrl>PgDn] to the Master Information screen.

3

Permanent Tag: You will not be able to enter a permanent tag number because this O-Tag will assume the P-Tag number of the Primary asset

3

Primary Tag: Enter the P-Tag number of the Primary library materials tag for the relevant fiscal year.

4

Subordinate Type: Select “Attached to”.

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Asset Type: Should already be populated if the tag was capitalized. If necessary, select the appropriate asset type per the “Asset Types Job Aid” found in this manual.

6

It should not be necessary to update any other fields. Save the record (F10).

7

Perform a Quit function (Ctrl>q) to return to the main menu.

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Exercise 5e: Verify FFADEPR updated with new sequence. Step 1

Action Go To FFADEPR. Permanent Tag: Enter the Primary tag number.

Perform a Next Block [Ctrl>PgDn]. 2

View the Asset Depreciation Expense Distribution block to verify that another FOAPAL sequence was added.

3

View the FOAPAL codes to verify they are correct. They should match the codes below. If they are not correct, change them. COA: C Fund: P94000 Organization: 901090 Account: 7501 Program: DEP003 Activity: Leave blank Location: Leave blank

4

TAB to the Posting Code field. Select “(P)ost Deprec”. This must be populated so that the system records depreciation for this asset when the depreciation process is run.

5

Save the record (F10).

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Components Components of Primary Tags may be used when two or more tags need to be grouped together for tracking purposes. Components may be adjusted separately and will depreciate separately. Therefore FFADEPR must be set up for each component. Components must be assigned their own P-Tag number. Examples of components include (not intended to be a complete list): Ceiling mount for a projector Addition (valued more than 1.5 million) to an existing building Capitalized items may only be a component of capital Primary Tags. Likewise, non-capitalized items may only be a component of non-capitalized Primary Tags. Only P-Tags may be a component of a Primary Tag. If a D-Tag needs to be converted to an O-Tag for component purposes, contact The Director of Capital Assets and Debt Accounting. The Director will perform the conversion and communicate the O-Tag number to you.

Steps to make a tag a component of a Primary tag (Capital items): a. If the tags are not already capitalized, update the capitalization information for each tag on FFAMAST (reference exercise 5a). b. If necessary, capitalize the tags (reference exercise 5b). c. Convert each tag to a P-Tag (reference exercise 1). d. Create depreciation records for each tag on FFADEPR (reference exercise 2). e. Select one P-Tag to be the Primary tag and make the other P-Tag(s) a component of the Primary tag.

Steps to make a tag a component of a Primary tag (Non-Capital items): c. Convert each O-Tag to a P-Tag (reference exercise 1). e. Select one P-Tag to be the Primary tag and make the other P-Tag(s) a component of the Primary tag.

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Exercise 6e: Make a P-Tag a component of a Primary tag. Step 1

Action Go To FFAMAST. Asset Tag: Enter the P-Tag number for the item which will be a component. Action: Select Permanent Tag – Update Asset.

Perform a Next Block [Ctrl>PgDn]. 2

Primary Tag: Enter the P-Tag number of the item which will be the Primary tag.

3

Subordinate Type: Select “Component Of”.

4

Save the record (F10).

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Effect of Cancelled Invoices/Checks on Tags

Original Value of tag is $4,000; Invoice not “reestablished” Invoice Activity

Tag Value

Status on FFIMAST

Invoice posts

$4,000

I (Invoiced)

Check or invoice is cancelled/no “reestablish of payable”

$0

C (Cancelled)

Original Value of tag is $4,000; Invoice “reestablished” Invoice Activity

Tag T00000001 Value

Tag T00000001 Status on FFIMAST

Invoice posts

$4,000

I (Invoiced)

Check or invoice is cancelled/“reestablish of payable”

$0

C (Cancelled)

“Reestablished” invoice is posted

$0

C (Cancelled)

Changes to tags will not take effect until FFPOEXT is run, which is nightly.

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Tag T00000002 Value

Tag T00000002 Status on FFIMAST

$4,000

I (Invoiced)

Ivy Tech Community College Training Finance – Fixed Assets _____________________________________________________________________________________________

Disposing of a Capital Item Disposals need to be recorded any time a capital item is deemed obsolete, damaged beyond repair, lost, stolen, or sold. Disposals must be pre-approved via the Fixed Asset Delete form (found on Infonet) before the disposal is recorded in Banner. ** If you are disposing of an asset that is a component or has a component associated with it, you will need to disassociate the component(s) before you enter the adjustment. Reference Exercise 1b for instructions. Step

Action

1

Type FFAADJF in the GO TO field and press enter. The Fixed Asset Adjustment form displays. Type NEXT in the Document Code field. Do not enter the P-Tag or O-Tag number in this field. Function Code: Select WOFF Write Off. (Do Not use the function DISP – Sale of Asset)

2

Perform a Next Block [Ctrl>PgDn].

3

Description: This will show in the ledgers and queries as the description for the adjustment. Use your regional numeric prefix and your initials, then a brief description of the adjustment, and the tag number. For example “131 JAA WOFF A987654”.

4

Transaction Date: The transaction date must be within the fiscal year that the asset was disposed. Usually the current fiscal month can be used. During July, you may need to back date it to June to dispose of it in the previous fiscal year if necessary.

5

Document Reference: Not used by ITCC.

6

Perform a Next Block [Ctrl>PgDn] to the Asset Data block.

7

Item: System supplied and display only.

8

Permanent Tag: Enter the P-Tag number of the item you wish to dispose. The description of the asset & Net Book Value will default from the P-Tag #.

9

Disposal Method: Select the appropriate method from the list.

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View of the adjustment at this point:

11

Perform a Next Block [Ctrl>PgDn] to navigate to the Completion block. (You may notice the system jumps past a screen. This is normal.)

12

Document Code: The system assigned adjustment number. If the Asset and Accounting amounts agree, click “Complete”. If the Asset and Accounting amounts don’t agree, click “In Process”.

If you clicked “Complete” you will see a message at the bottom of the screen that the document was completed and forwarded to the approval process. If you clicked “In Process”, you will need to research why the amounts are different. Use form FFIMAST to query the permanent tag for discrepancies on the Capitalization Information Screen and Funding Source screens. The amount in the Cost field on the Capitalization Information screen is the amount that feeds to FFAADJF to be capitalized. If you find a discrepancy, contact the Director of Capital Assets and Debt Accounting for assistance. 13

Perform a Quit function (Ctrl>q) to return to the main menu.

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Disposing of a Non-Capital Item Disposals need to be recorded any time a non-capital item is deemed obsolete, damaged beyond repair, lost, stolen, or sold. Disposals must be pre-approved via the Fixed Asset Delete form (found on Infonet) before the disposal is recorded in Banner. ** If you are disposing of an item that is a component or has a component associated with it, you will need to disassociate the component(s) before you enter the disposal. Reference Exercise 1b for instructions. Step

Action

1

Type FFAMAST in the GO TO field and press enter. The Fixed Asset Master Maintenance form displays. Asset Tag: Enter the P-Tag number of the item which is being disposed. Action: Select “Disposal of Uncapitalized Tag”.

2

Perform a Next Block [Ctrl>PgDn] twice to the Acquisition Information screen. TAB to the Disposal Method field.

3

Disposal Method: Select the appropriate method from the list.

4

Disposal Date: Enter the date of disposal.

5

Save the record (F10).

6

Perform a Quit function (Ctrl>q) to return to the main menu.

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R & R and New Construction Invoices for R&R and New Construction should be coded as shown below. At the end of each fiscal year, the Treasurer’s Office will prepare a JV to record construction-in-process for incomplete projects. At completion of a project the Treasurer’s Office will prepare a JV to capitalize the project and create the fixed asset tag. The amount capitalized may include bond costs. The amount capitalized and the O-Tag number will be communicated to the Business Office. Inception-to-date expenses may be viewed on FRIGITD (reference the Banner Research Accounting manual for instruction). Invoice coding for R & R and New Construction: Plant Fund

Org Code

Account Code

R & R Projects

Provided by Treasurer’s Office

Regional Facilities Office

5001 - 5089

New Construction

Provided by Treasurer’s Office

Regional Facilities Office

5101 - 5189

R&R Project Completion Entry: (prepared by Treasurer’s Office) Plant Fund Org Account Debit: Project plant fund

Reg Facilities Office

Credit: Project plant fund

Reg Facilities Office

5093, 5094, 5095, 5096, or 5097 * 5090

(amount = project fund total expense and bond costs) New Construction Completion Entry: (prepared by Treasurer’s Office) Plant Fund Org Account Debit: Project plant fund

Reg Facilities Office

Credit: Project plant fund

Reg Facilities Office

5193, 5194, 5195, 5196, or 5197 * 5190

(amount = project fund total expense and bond costs) * One of these accounts will be used for the debit which will eventually generate an O-Tag.

Capital Leases Any leases which are believed to be capital leases should be discussed with the Executive Director of Capital Assets and Debt Accounting. The Executive Director will determine whether it is a capital lease and advise the appropriate action to take.

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Reports & Processes Banner Reports FGRLOCH – Location Hierarchy Report: Hierarchical list of all location codes, but may be run for a specific region. End users may run this report. Location Code Structure

Purpose

Example Code

Example Description

1st digit

Identifies the region

K

Madison Region

nd

2 digit

Identifies the building

KD

Madison Main Building

3rd – 6th digits

Identifies the room or area

KD1030

Madison Main Building Room 1030

Step

Action

1

Type FGRLOCH in the GO TO field and press enter. The Process Submission Controls form displays. Perform a Next Block [Ctrl>PgDn].

2

Printer Control: Type DATABASE

3

Special Print: Leave blank. Perform a Next Block [Ctrl>PgDn].

4

Chart of Accounts: Must be C. Perform a Next Record [arrow down].

5

As of Date: Will default to current date. Perform a Next Record [arrow down].

6

Location Code: To run for a specific region, use regional alpha identifier: Northwest = A Central Indiana = H North Central = B Richmond = I North East = C Columbus = J Lafayette = D Southeast = K Kokomo = E Southwest = L East Central = F Sellersburg = M Wabash Valley = G Bloomington = N To run the report for the whole college, leave the location code blank.

7

Perform a Next Block [Ctrl>PgDn] to the Submission block. Save the record (F10).

8

From the Options menu select Review Output.

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When you are able to TAB into the File Name field that means the report has finished processing. Double-click in the File Name field and the .lis and .log files are displayed.

10

Double-click the .lis file name to view the report.

11

You can view the report on line by scrolling through the report.

12

If you want to print the complete report, reference the instructions for “Printing Saved Output for any INB Report” in the Chart of Accounts Structure manual.

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FFRMAST – Fixed Asset Master Report: Report of all asset details seen on FFIMAST, so one asset may print on one or more pages. End users may run this report Step

Action

1

Type FFRMAST in the GO TO field and press enter. The Process Submission Controls form displays. Perform a Next Block [Ctrl>PgDn].

2

Printer Control: Type DATABASE

3

Special Print: Leave blank. Perform a Next Block [Ctrl>PgDn].

4

Parameter Values: May be used individually or in combination. If a parameter value is left blank, it will pull all values for that parameter. System Status of the Asset User Status of the Asset Responsible Chart of Accounts Responsible Organization Responsible Location Asset Type Condition Code Title To Code (may want enter a value here unless you want college-wide) Depreciation Method Depreciation Frequency

5

Perform a Next Block [Ctrl>PgDn] to the Submission block. Save the record (F10).

6

From the Options menu select Review Output.

7

When you are able to TAB into the File Name field that means the report has finished processing. Double-click in the File Name field and the .lis and .log files are displayed.

8

Double-click the .lis file name to view the report.

9

You can view the report on line by scrolling through the report.

10

If you want to print the complete report, reference the instructions for “Printing Saved Output for any INB Report” in the Chart of Accounts Structure manual.

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FFRPROP – Fixed Asset Property Report: Report lists one line per asset so might be useful for an inventory. End users may run this report. Step

Action

1

Type FFRPROP in the GO TO field and press enter. The Process Submission Controls form displays. Perform a Next Block [Ctrl>PgDn].

2

Printer Control: Type DATABASE

3

Special Print: Leave blank. Perform a Next Block [Ctrl>PgDn].

4

Parameter Values: May be used individually or in combination. If a parameter value is left blank, it will pull all values for that parameter. Chart of Accounts Inventory Selection Option: Use “3” for both From Date: To Date: System Status of the Asset User Status of the Asset Primary Asset Tag Commodity Code Asset Type Custodian Code Title To Code (may want enter a value here unless you want college-wide) Acquisition Method Responsible Organization Responsible Location Sort Option

5

Perform a Next Block [Ctrl>PgDn] to the Submission block. Save the record (F10).

6

From the Options menu select Review Output.

7

When you are able to TAB into the File Name field that means the report has finished processing. Double-click in the File Name field and the .lis and .log files are displayed.

8

Double-click the .lis file name to view the report.

9

You can view the report on line by scrolling through the report.

10

If you want to print the complete report, reference the instructions for “Printing Saved Output for any INB Report” in the Chart of Accounts Structure manual.

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FFRPROC – Fixed Asset Procurement Report: A single line display of the procurement and payable information related to an asset. End users may run this report. Step

Action

1

Type FFRPROC in the GO TO field and press enter. The Process Submission Controls form displays. Perform a Next Block [Ctrl>PgDn].

2

Printer Control: Type DATABASE

3

Special Print: Leave blank. Perform a Next Block [Ctrl>PgDn].

4

Parameter Values: May be used individually or in combination. If a parameter value is left blank, it will pull all values for that parameter. Selection Criteria: Specific document or funding source or user status/vendor Chart of Accounts Document Type Document Number Print Capitalized Data Only? From Date: To Date: Funding Fund Funding Amount System Status User Status Vendor Code Print Funds and Accounts in report?

5

Perform a Next Block [Ctrl>PgDn] to the Submission block. Save the record (F10).

6

From the Options menu select Review Output.

7

When you are able to TAB into the File Name field that means the report has finished processing. Double-click in the File Name field and the .lis and .log files are displayed.

8

Double-click the .lis file name to view the report.

9

You can view the report on line by scrolling through the report.

10

If you want to print the complete report, reference the instructions for “Printing Saved Output for any INB Report” in the Chart of Accounts Structure manual.

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FFRAGRP – Fixed Asset Group Report: Can run for a selected asset master record or group of asset master records that are associated as attachments or components. Shows all of the elements that appear in the FFRMAST report. End users may run this report. Step

Action

1

Type FFRAGRP in the GO TO field and press enter. The Process Submission Controls form displays. Perform a Next Block [Ctrl>PgDn].

2

Printer Control: Type DATABASE

3

Special Print: Leave blank. Perform a Next Block [Ctrl>PgDn].

4

Parameter Values: May be used individually or in combination. If a parameter value is left blank, it will pull all values for that parameter. Specific Asset(s) Primary Tag

5

Perform a Next Block [Ctrl>PgDn] to the Submission block. Save the record (F10).

6

From the Options menu select Review Output.

7

When you are able to TAB into the File Name field that means the report has finished processing. Double-click in the File Name field and the .lis and .log files are displayed.

8

Double-click the .lis file name to view the report.

9

You can view the report on line by scrolling through the report.

10

If you want to print the complete report, reference the instructions for “Printing Saved Output for any INB Report” in the Chart of Accounts Structure manual.

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FFRDTGA – D-Tag Aging Report: Displays aging of pending D-Tags as of a given date by JV #. Step

Action

1

Type FFRDTGA in the GO TO field and press enter. The Process Submission Controls form displays. Perform a Next Block [Ctrl>PgDn].

2

Printer Control: Type DATABASE

3

Special Print: Leave blank. Perform a Next Block [Ctrl>PgDn].

4

Parameter Values: May be used individually or in combination. If a parameter value is left blank, it will pull all values for that parameter. COA Fund Code Account Code Aging by Cutoff Date

5

Perform a Next Block [Ctrl>PgDn] to the Submission block. Save the record (F10).

6

From the Options menu select Review Output.

7

When you are able to TAB into the File Name field that means the report has finished processing. Double-click in the File Name field and the .lis and .log files are displayed.

8

Double-click the .lis file name to view the report.

9

You can view the report on line by scrolling through the report.

10

If you want to print the complete report, reference the instructions for “Printing Saved Output for any INB Report” in the Chart of Accounts Structure manual.

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FFRDTGT – D-Tag Transaction Report: Displays D-Tag transaction information. End users may run this report. Step

Action

1

Type FFRDTGT in the GO TO field and press enter. The Process Submission Controls form displays. Perform a Next Block [Ctrl>PgDn].

2

Printer Control: Type DATABASE

3

Special Print: Leave blank. Perform a Next Block [Ctrl>PgDn].

4

Parameter Values: May be used individually or in combination. If a parameter value is left blank, it will pull all values for that parameter. Document Number Include Document Text Document Type D-Tag Status D-Tag from Date D-Tag to Date COA Fund Code Account Code Sort Option

5

Perform a Next Block [Ctrl>PgDn] to the Submission block. Save the record (F10).

6

From the Options menu select Review Output.

7

When you are able to TAB into the File Name field that means the report has finished processing. Double-click in the File Name field and the .lis and .log files are displayed.

8

Double-click the .lis file name to view the report.

9

You can view the report on line by scrolling through the report.

10

If you want to print the complete report, reference the instructions for “Printing Saved Output for any INB Report” in the Chart of Accounts Structure manual.

FFPDEPR– Depreciation Process: Calculates depreciation and generates a report of assets depreciated and the amount. This process is run annually by the Treasurer’s Office; however, end users may view the report in ePrint.

FFPOEXT– Fixed Asset Orig. Tag Extract: Generates O-Tags and D-Tags from posted Invoice/Credit Memos and Journal Vouchers and produces a report. This process is run daily by the Treasurer’s Office; however, end users may view the report in ePrint.

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Discoverer Reports Users must have Discoverer Viewer access for finance reports to be able to view the reports.

Permanent Tag Disposal - This report is found in the Fixed Assets workbook. It can be run by region with date parameters to view all assets that were disposed.

Pending Tags - This report is found in the Fixed Assets workbook. It lists O-Tags that are still pending (not converted to P-Tags) and can be run for a specific region. This report is the most efficient method for finding all pending O-Tags by region.

Fixed Asset Transfers - This report is found in the Fixed Assets workbook. It can be run by region with date parameters to view all assets that had updates made on FFATRAN.

ProCard Transactions - This report is found in the Fixed Assets workbook. It displays PCard purchases made that used an account code that generated a tag in fixed assets. The report can be run with date parameters.

Asset and Inventory Values- This report is found in the Fixed Assets workbook. It displays the cost, net book value, remaining life, location code, and description. It can be run by “Title To” code and capital items, inventory items, or both.

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Queries FFIMAST ( Fixed Asset Master Query) – View of what was entered & saved on FFAMAST and current status. No updates may be made on this form. O-Tags or P-Tags may be queried.

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FFIFALV (Fixed Asset List) – View of what was entered & saved on FFAMAST and current status. No updates may be made on this form. O-Tags or P-Tags may be queried. “Permanent Tag” radio button: Displays a list of values for all permanent tags sorted in descending order by P-Tag number. “Origination Tag” radio button: Displays a list of values for all origination tags sorted in descending order by O-Tag number.

Select a radio button and Next Block. The bottom block displays in query mode. Enter additional search criteria in the bottom block if desired and execute the query (F8).

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FFIPROC (Fixed Asset Procurement Query) – Query of purchase order and invoice data. No updates may be made on this form. The form opens in query mode.

Enter desired criteria and Execute the Query (F8). Results are sorted in O-Tag number order.

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FFIADJF (Fixed Asset Adjustment Query) – Query of fixed asset adjustment documents. No updates may be made on this form.

Enter the adjustment number then Next Block. Next Block through the document to view the details.

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FFIADJH (Fixed Asset Adjustment History) – Query of all fixed asset adjustments for a tag or by document number. No updates may be made on this form. Display by P-Tag #, O-Tag #, or Adjustment # by selecting the radio button.

Next Block and the results are displayed. To narrow your search enter a query (F7) and enter the P-Tag #, O-Tag #, or adjustment # you are searching for.

Execute the query (F8).

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FFIADJL (Fixed Asset Adjustment List) – List of all fixed asset adjustments and their status. No updates may be made on this form. You can search in this form by simply entering a query.

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FFIDTAG (D-Tag Document Listing) - Use this form to identify documents with D-Tags and view status of those D-Tags. Document Type: Document Tag Status: Sort Order:

Select “Journal Voucher” Select from “Pending”, “Resolved”, or “All” Select from “Document Tag Date”, “Type of Document”, Number of Document”, “Ascending Document Tag”, “Permanent Tag & Origination Tag”, “Fund”, “Organization”, or “Location”

Next Block [Ctrl>PgDn] and the results are displayed.

To refine your search, you may enter a query (F7) in the bottom block, enter search criteria, and execute the query (F8).

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FAIINVE (Invoice/Credit Memo Query) - Use this form to view details of the invoice or credit memo that generated the tag.

Enter the invoice or credit memo number and then Next Block [Ctrl>PgDn]. Next Block through the screens to view the details.

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FOIDOCH (Document History) - This form may be used to query a specific invoice/credit memo to identify the tags that still exist which were extracted from that invoice/credit memo. Tags which have been deleted will not display. (See the “Terms and Concepts” for definitions of Deleted vs. Disposed tags.) Document Type: Select or enter “INV” Document Code: Enter the Banner Invoice or Credit Memo number Next Block [Ctrl>PgDn] to display the results.

To view the Status definitions select “View Status Indicators” from the Options menu. To view details of a document or tag, highlight the desired field and perform a drill-down (F3). You will be taken to the related query form.

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Treasurer’s Office Functions The forms detailed in this section are only updated by appropriate personnel within the Treasurer’s Office.

Deleting Tags FFAFDEL( Fixed Asset Master Delete) – Use this form to delete non-capital items and assets associated with a cancelled invoice. Once deleted, there is no record of the item in the fixed asset module. If an asset has an adjustment performed on it before the invoice is cancelled, the asset may not be deleted because adjustment history exists for the asset. Use of this form does not generate accounting entries. The form opens in query mode. Enter desired criteria and execute the query (F8). The results are sorted by O-Tag number.

To delete one or more items, check the Mark for Delete box to the right of each item. Select “Delete All” from the Options menu. Select “Delete All” again. A message stating “Fixed Assets marked for delete and all detail records will be deleted.” will display. Click OK. The items which were marked will be deleted.

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Processing D-Tags FFADTGP( Fixed Asset Dtag Processing) - Use this form to process D-Tags to perform the following functions:     

Create a fixed asset tag Update an existing asset tag Inactivate a permanent tag Delete a tag Offset one D-Tag against another D-Tag

Additional D-Tags can be inserted for a JV via this form; however, the sum of all D-Tag amounts must equal the original document transaction amount.

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Create Action Scenario: An invoice for a capital item was incorrectly coded to an office supplies account. A JV was prepared which credited the office supplies account and debited the appropriate capital expense account. Exercise 7a: Use form FFADTGP to create a fixed asset tag for the capital item. Step 1

Action Type FFADTGP in the GO TO field and press enter. The Fixed Asset Dtag Processing form displays.

Document: Enter the Journal Voucher number Type: Select Journal Voucher Submission Number: Leave blank Document Tag Status: Select “Pending’ to process D-Tags. Select “Resolved” to view actions that were taken on D-Tags. Select “All” to do both. For this exercise select “Pending”. Next Block [Ctrl>PgDn]. 2

The middle block displays the line(s) of the JV that generated the D-Tag. These fields are display only. Use Next Record/Previous Record to move to the line that you need.

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Once you have the desired JV record displayed, Next

Block [Ctrl>PgDn] to the bottom

block.

Seq: Sequence # assigned by the system. Display only. Code: D-Tag number assigned by the system. Display only. Status: System status of the D-Tag and display only. P = Pending, R = Resolved, I = In process. Action: Select “Create” to create a new O-Tag in this scenario. Cap: Displays “Y” if the D-Tag is capitalized. Display only. Origination Tag: Once Action “Create” is selected, the system populates “NEXT” in this field. Permanent Tag: Not applicable for Action “Create”; leave blank. Offsetting Dtag: Not applicable for Action “Create”; leave blank. Description: Defaults from the JV description and can be changed. Procurement Data: Not applicable for Action “Create” so should be blank. Other Source Data: Not applicable for Action “Create” so should be blank. Amount: Amount of the D-Tag as determined by the record of the JV.

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Save the record (F10) and the Origination Tag number is displayed. Make a note of the number if desired.

5

From the Options menu select either or both of the following as necessary: “Validate Action Logic” – validates the action selected and the information entered for a specific row. “Validate Sequence for Balance” – validates that all D-Tag amounts equal the accounting transaction amount. This would be necessary if additional D-Tags were inserted.

6

Once the validations are confirmed, from the Options menu select “Perform Actions”. Click “OK” in the pop-up box indicating sequences are in balance with accounting. This updates the Fixed Asset tables appropriately for the action selected.

7

The form will clear and the cursor will return to the Document field at the top of the form.

8

Perform a Quit function [Ctrl>Q] to return to the main menu.

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Update Action  Update may be used to update a capital D-Tag to a capital O-Tag or P-Tag; (funding source & value updated)  Update may be used to update a non-capital D-Tag to a non-capital O-Tag or P-Tag; (funding source & value updated)  Update may be used to update a non-capital D-Tag to a capital O-Tag or P-Tag; (funding source only updated). The value of the asset must be updated via FFAADJFGLCE/GL Change-Cap Amount/Account. If the GL asset account has already been affected (in order to reconcile capital expense to asset additions), the GL entry from the FFAADJF adjustment may need to be reversed. Scenario: A partial cash refund was received from a vendor for a minor flaw found in the asset. The cash receipt was recorded via a journal voucher. The item is a capital asset and the amount of the refund is >$2,999.99 Exercise 7b: Use form FFADTGP to update the value on the asset record. This will also update the funding source on the asset record. Step 1

Action Type FFADTGP in the GO TO field and press enter. The Fixed Asset Dtag Processing form displays.

Document: Enter the Journal Voucher number Type: Select Journal Voucher Submission Number: Leave blank Document Tag Status: Select “Pending’ to process D-Tags. Select “Resolved” to view actions that were taken on D-Tags. Select “All” to do both. For this exercise select “Pending”. Next Block [Ctrl>PgDn].

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The middle block displays the line(s) of the JV that generated the D-Tag. These fields are display only. Use Next Record/Previous Record to move to the line that you need.

3

Once you have the desired JV record displayed, Next Block [Ctrl>PgDn] to the bottom block.

Seq: Sequence # assigned by the system. Display only. Code: D-Tag number assigned by the system. Display only. Status: System status of the D-Tag and display only. P = Pending, R = Resolved, I = In process. Action: Select “Update” to update the O-Tag from the original invoice. This will reduce/increase the value of the O-Tag by the credit/debit amount of the D-tag. Cap: Displays “Y” if the D-Tag is capitalized. Display only. Origination Tag: Enter the O-Tag from the original invoice that you are updating. Or enter the P-Tag number in the next field instead. Permanent Tag: Don’t need to enter since we used the O-Tag number. Offsetting Dtag: Not applicable for Action “Update”; leave blank. Description: Defaults from the JV description and can be changed. Procurement Data: If applicable, will default. Display only. Other Source Data: If applicable, will default. Display only. Amount: Amount of the D-Tag as determined by the record of the JV.

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Save the record (F10).

5

From the Options menu select “Validate Action Logic” – validates the action selected and the information entered for a specific row. If the update was to update a non-capital D-Tag to a capital O-Tag or P-Tag, a warning will appear stating that it is a capital asset. If you don’t wish to continue click “Cancel”. Otherwise, click “Ok”.

6

From the Options menu select “Validate Sequence for Balance” – validates that all D-Tag amounts equal the accounting transaction amount. This would be necessary if additional D-Tags were inserted.

7

Once the validations are confirmed, from the Options menu select “Perform Actions”. Click “OK” in the pop-up box indicating sequences are in balance with accounting. This updates the Fixed Asset tables appropriately for the action selected.

8

The form will clear and the cursor will return to the Document field at the top of the form. Perform a Quit function [Ctrl>Q] to return to the main menu.

9

Go to FFIMAST to verify the changes.

10

Perform a Quit function [Ctrl>Q] to return to the main menu.

11

If the update was to update a non-capital D-Tag to a capital O-Tag or P-Tag; an adjustment must now be entered via FFAADJF to change the value of the asset.

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Inactivate Action Scenario: An O-Tag was converted to a P-Tag but it should not have been. It should’ve been attached to a Primary tag. Exercise 7c: Use form FFADTGP to inactivate a permanent tag and create a new O-Tag which will be the attachment. Step 1

Action Type FFADTGP in the GO TO field and press enter. The Fixed Asset Dtag Processing form displays.

Document: Enter the Journal Voucher number Type: Select Journal Voucher Submission Number: Leave blank Document Tag Status: Select “Pending’ to process D-Tags. Select “Resolved” to view actions that were taken on D-Tags. Select “All” to do both. For this exercise select “Pending”. Next Block [Ctrl>PgDn]. 2

The middle block displays the line(s) of the JV that generated the D-Tag. These fields are display only. Use Next Record/Previous Record to move to the line that you need. In this example, we’ll start with the credit record.

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Once you have the desired JV record displayed, Next

Block [Ctrl>PgDn] to the bottom

block.

Seq: Sequence # assigned by the system. Display only. Code: D-Tag number assigned by the system. Display only. Status: System status of the D-Tag and display only. P = Pending, R = Resolved, I = In process. Action: Select “Inactive” to inactivate the P-Tag from the original invoice. This will reduce the value of the Tag to $0 and cancel the tag. Cap: Displays “Y” if the D-Tag is capitalized. Display only. Origination Tag: Once the P-Tag number is entered this field will default. Permanent Tag: Enter the P-Tag number of the asset you need to inactivate. Offsetting Dtag: Not applicable for Action “Inactive”; leave blank. Description: Defaults from the JV description and can be changed. Procurement Data: If applicable, will default. Display only. Other Source Data: If applicable, will default. Display only. Amount: Amount of the D-Tag as determined by the record of the JV.

4

Save the record (F10).

5

From the Options menu select either or both of the following as necessary: “Validate Action Logic” – validates the action selected and the information entered for a specific row. “Validate Sequence for Balance” – validates that all D-Tag amounts equal the accounting transaction amount. This would be necessary if additional D-Tags were inserted.

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Once the validations are confirmed, from the Options menu select “Perform Actions”. Click “OK” in the pop-up box indicating sequences are in balance with accounting. This updates the Fixed Asset tables appropriately for the action selected.

7

The form will clear and the cursor will return to the Document field at the top of the form.

8

Perform a Quit function [Ctrl>Q] to return to the main menu.

9

Go to FFIMAST to verify the tag was inactivated.

10

Enter the tag number that you updated in the Asset Tag field on FFIMAST and Next Block.

11

View the System Status Code to verify the cancellation.

12

Perform a Quit function [Ctrl>Q] to return to the main menu.

13

Since there is another D-tag to process to create an O-Tag which will become the attachment, follow the steps in exercise 7a.

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Delete Action Scenario: An invoice was incorrectly coded with a quantity of 1 @ $2,280.00, but it should’ve been 3 @ $760.00. Therefore only 1 tag generated when there should’ve been 3. Exercise 7d: Use form FFADTGP to delete the incorrect tag and create 3 new tags. Step 1

Action Type FFADTGP in the GO TO field and press enter. The Fixed Asset Dtag Processing form displays.

Document: Enter the Journal Voucher number Type: Select Journal Voucher Submission Number: Leave blank Document Tag Status: Select “Pending’ to process D-Tags. Select “Resolved” to view actions that were taken on D-Tags. Select “All” to do both. For this exercise select “Pending”. Next Block [Ctrl>PgDn]. 2

The middle block displays the line(s) of the JV that generated the D-Tag. These fields are display only. Use Next Record/Previous Record to move to the line that you need. In this example, we’ll start with the credit record.

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Once you have the desired JV record displayed, Next Block [Ctrl>PgDn] to the bottom block.

Seq: Sequence # assigned by the system. Display only. Code: D-Tag number assigned by the system. Display only. Status: System status of the D-Tag and display only. P = Pending, R = Resolved, I = In process. Action: Select “Delete” to delete the incorrect tag from the original invoice. This will completely remove the tag from the fixed asset module. Cap: Displays “Y” if the D-Tag is capitalized. Display only. Origination Tag: Enter the O-Tag number of the tag you need to delete. Permanent Tag: If the O-Tag number was entered, this number doesn’t need to be entered. Offsetting Dtag: Not applicable for Action “Delete”; leave blank. Description: Defaults from the JV description and can be changed. Procurement Data: If applicable, will default. Display only. Other Source Data: If applicable, will default. Display only. Amount: Amount of the D-Tag as determined by the record of the JV.

4

Save the record (F10).

5

From the Options menu select either or both of the following as necessary: “Validate Action Logic” – validates the action selected and the information entered for a specific row. “Validate Sequence for Balance” – validates that all D-Tag amounts equal the accounting transaction amount. This would be necessary if additional D-Tags were inserted.

6

Once the validations are confirmed, from the Options menu select “Perform Actions”. Click “OK” in the pop-up box indicating sequences are in balance with accounting. This updates the Fixed Asset tables appropriately for the action selected.

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The Fixed Asset Master Delete form displays. The tag that you intend to delete should be displayed and the Mark For Delete box should be checked. From the Options menu select “Delete All”. Again select “Delete All” from the Options menu. Click OK in the confirmation message. Perform a Quit function [Ctrl>Q] twice to return to form FFADTGP.

8

Since there are another D-tags to process to create O-Tags follow the steps in exercise 7a.

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Offset Action Scenario: An invoice for a computer was incorrectly coded to a general fund & should’ve been coded to a restricted fund. A JV was prepared which credited the general fund FOAP and debited the restricted fund FOAP. Exercise 7e: Use form FFADTGP to offset the D-Tags against each other and have no impact on the original tag from the invoice. The JV updated the ledgers, but has no impact on the asset records. Step 1

Action Type FFADTGP in the GO TO field and press enter. The Fixed Asset Dtag Processing form displays.

Document: Enter the Journal Voucher number Type: Select Journal Voucher Submission Number: Leave blank Document Tag Status: Select “Pending’ to process D-Tags. Select “Resolved” to view actions that were taken on D-Tags. Select “All” to do both. For this exercise select “Pending”. Next Block [Ctrl>PgDn]. 2

The middle block displays the line(s) of the JV that generated the D-Tag. These fields are display only. Use Next Record/Previous Record to move to the line that you need. Make a note of the D-Tag numbers which will be used in the next step.

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Once you have the desired JV record displayed, Next Block [Ctrl>PgDn] to the bottom block.

Seq: Sequence # assigned by the system. Display only. Code: D-Tag number assigned by the system. Display only. Status: System status of the D-Tag and display only. P = Pending, R = Resolved, I = In process. Action: Select “Offset” to offset this tag against another D-Tag in this scenario. Cap: Displays “Y” if the D-Tag is capitalized. Display only. Origination Tag: Not applicable for Action “Offset”; leave blank Permanent Tag: Not applicable for Action “Offset”; leave blank. Offsetting Dtag: Enter the D-tag number that you are offsetting against. The amount of the Dtags which are offset against each other must net to $0. Description: Defaults from the JV description and can be changed. Procurement Data: Not applicable for Action “Create” so should be blank. Other Source Data: Not applicable for Action “Create” so should be blank. Amount: Amount of the D-Tag as determined by the record of the JV.

4

Save the record (F10).

5

From the Options menu select either or both of the following as necessary: “Validate Action Logic” – validates the action selected and the information entered for a specific row. “Validate Sequence for Balance” – validates that all D-Tag amounts equal the accounting transaction amount. This would be necessary if additional D-Tags were inserted.

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Once the validations are confirmed, from the Options menu select “Perform Actions”. Click “OK” in the pop-up box indicating sequences are in balance with accounting. This updates the Fixed Asset tables appropriately for the action selected.

7

The form will clear and the cursor will return to the Document field at the top of the form.

8

Perform a Quit function [Ctrl>Q] to return to the main menu.

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Adjustments All of the adjustments listed are entered on form FFAADJF. They are not illustrated in detail; however an explanation of each is given along with their nuances. WRIT – Write Up/Down Adjustments Writes up or down the value of the asset. Enter the amount by which the asset is to be adjusted. Accepts negative amounts. ADPR – Depreciaton Adjustments Adjusts accumulated depreciation up or down on an asset that already has accumulated depreciation. Accepts negative amounts. DEPP – Record Past Depreciation Record depreciation not previously recorded. Normally used for assets not recorded at the time of their actual acquisition. Only affects asset record and does not generate ledger entries. GLAS – GL Change-Asset Account Reclassify the asset and accumulated depreciation accounts within the same fund for an asset. GLEQ – GL Change-Equity Account Reclassify the equity account within the same fund for an asset. GLCF – GL Change-Fund Code Reclassify an asset from one fund to another within the same asset and accumulated depreciation accounts. GLFE – GL Change-Fund and Equity Reclassify an asset from one fund and equity account to another within the same asset and accumulated depreciation accounts. GLCE – GL Change-Cap Amount/Account Reclassify the capitalization fund, equity account, asset account (including any accumulated depreciation), and adjust the cost amounts. NCAP – No Posting to G/L Capitalize a permanent tag that was previously recorded. Primarily used for assets which have already been recorded in the General Ledger. Does not generate ledger entries. RCAP – Reverse Cap for Ptag Reverse capitalization for a P-Tag which has been capitalized in error. Can’t reverse if asset has been depreciated. RCAO – Reverse Cap for Otag Reverse capitalization for an O-Tag which has been capitalized in error. If the asset has been depreciated, the depreciation entries will also reverse. Training Discipline and Topic

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