1	FIXED ASSETS Beyond Depreciation
2	General Overview Disposing Assets Transferring Assets GASB34 Reports New Function/Activity Infrastructure Reports Balancing the GASB34 Reports General Fixed Asset Reports
3	Disposing Assets
4	Disposing Assets When an asset is disposed, it is not deleted from the system. The asset status is changed from Active to Disposed, but all of the asset history remains The Disposal Date is the cut off date for depreciation (as long as depreciation has not already been ran) Disposal Method and Reason are required Disposals are reflected in the Decreases column on the Capital Asset Reports and in the Disposals column on the Function/Activity Reports You need to keep your disposals current to avoid overstating depreciation on disposed assets
5	From the Asset Maint. screen, select “OthPrc(F9)” and “Disposal”
6	"Disposal Date – This is..." Disposal Date – This is the date the asset was actually disposed. It is also the cut-off date for depreciation Method – This is how the asset was disposed (sold, scrapped, donated, etc.) Reason – This is why the asset was disposed (obsolete, replaced with new, etc.)
7	"Sale/Disposal Price – The amount..." Sale/Disposal Price – The amount that is gained or lost from disposing of the asset is entered here Cost – If there are any costs/fees involved in disposing of the asset enter it here
8	How Do Disposals Affect Depreciation? If depreciation has not been ran prior to disposal, the software will only calculate depreciation up to the Disposal Date If depreciation has alreay been ran prior to disposal, the software does not back out the overstated depreciation after the Disposal Date (those depreciation transactions have already been posted to the history file) You need to keep your disposals current to avoid overstating depreciation on disposed assets
9	Asset Transfers
10	Transferring Assets You can transfer (or move) an asset to another: Class, Custodian, Department, or Location through the Transfer options The only way to change Departments or Classes on an asset is through the transfer process. You can change Locations and Custodians under Asset Maint. without having to do a transfer, but it is recommended that you use the transfer process When transferring Departments or Classes, each asset must be transferred individually You can transfer Custodians or Locations on multiple assets at once by entering a range of asset numbers to transfer. Department and Class transfers affect the GASB34 reports. Location and Custodian transfers do not
11	From the main menu, select “Transfers”
12	Department Transfers
13	"Classification – Start by entering..." Classification – Start by entering the Class of the asset that you want to transfer Transfer Date – This date determines how the depreciation amounts (for this asset) will be split between the two Departments on the Function/Activity Reports Authorization – Brings in the username of the person doing the transfer and writes it to history along with the transfer info Asset Number – Enter the number of the asset you want to transfer.
14	"New Status – If this..." New Status – If this transfer is causing the status of the asset to change, you can enter the new status here. You can leave this blank which will leave the status unchanged Old Dept – This is the Department that the asset is in currently New Dept – This is the new Department that you want the asset transferred into Note: The software checks to make sure that the information entered matches an actual asset in the system. If it does not, you will receive the following message
15	Class Transfers
16	"This process is the same..." This process is the same as the Department Transfer except that you start by entering the Department of the asset that you want to transfer Enter the Old Class (current) and New Class (the one you want the asset transferred into) Normally, there is no need to transfer an asset from one class to another. This is only used to correct assets that were keyed into the wrong class when they were entered into the system Important: A Class Transfer should not be used for moving assets out of Construction In Progress once they are completed. The Construction In Progress asset needs to be disposed and the asset re-entered into the software as a new asset with a new class
17	Location Transfers
18	"This process is the same..." This process is the same as the other transfer options except that you start by entering the Department and Class of the asset that you want to transfer Enter the Old Location (current) and New Location (the one you want the asset transferred into) This option allows you to transfer Locations on multiple assets at once by entering a range of asset numbers Important: When transferring Locations, check to ensure that the transfer info entered had the desired effect. The software does not check to make sure that the information entered matches an actual asset (or assets) in the system
19	Custodian Transfers
20	"This process is the same..." This process is the same as the Location Transfer. Start by entering the Department and Class of the asset that you want to transfer Enter the Old Custodian (current) and New Custodian (the one you want the asset transferred to) Just like Location Transfers, this option allows you to transfer Custodians on multiple assets at once by entering a range of asset numbers Important: Just like Location Transfers, check to ensure that the transfer info entered had the desired effect.
21	GASB34 Reports
22	GASB34 Reports These reports are designed to help compile the financial statements required by GASB34. They are not the actual financial statements themselves, but are a valuable tool to use in producing them When running these reports at year end, you need to take time to ensure that the Capital Asset and Function Activity reports balance
23	On the Fixed Assets panel, select “Reports”, “Assets” and “GASB34”
24	"Capital Assets - This report..." Capital Assets - This report groups all of the assets into five categories: Land, Construction In Progress, Buildings and Improvements, Infrastructures, and Other Fixed Assets. It shows the asset balance and accumulated depreciation amounts (including increases and decreases) for a given date range.
25	"Capital Assets (Detail" Capital Assets (Detail) - This is the same report as the Capital Assets report, but it lists the amounts from each individual asset that make up the totals.
26	"Function/Activity - This report groups..." Function/Activity - This report groups the assets by fund and function (funding source). It shows the asset balances and accumulated depreciation amounts for a given date range. It also includes Additions, Disposals, and Transfer amounts.
27	"Function/Activity (Detail" Function/Activity (Detail) - This is the same report as the Function/Activity report, but it lists the amounts from each individual asset that make up the totals.
28	"Fct/Act Infrastructure - This report..." Fct/Act Infrastructure - This report is the same report as the Function/Activity report, but it lists the prior accumulated depreciation for infrastructure in a separate column. This is only used if you became GASB34 compliant without your infrastructure assets and have since added your infrastructure assets after the fact
29	"Fct/Act Infra (Detail" Fct/Act Infra (Detail) - This is the same report as the Function/Activity (Detail) report, but it lists the prior accumulated depreciation for infrastructure in a separate column. Again, this is only used if you became GASB34 compliant without your infrastructure assets and have since added your infrastructure assets after the fact
30	Balancing GASB34 Reports
31	Balancing GASB34 Reports First verify the totals on the Capital Asset Summary Report match the totals on the Capital Asset (Detail) Report. Do the same for the Function/Activity Reports (and Fct/Act Infrastructure Reports if applicable) The Transfer column on the Function/Activity Reports should always net back to zero Balance the Capital Asset Summary Report to the Function/Activity Summary Report
32	"This diagram shows how to..." This diagram shows how to balance the Capital Asset Summary Report to the Function/Activity Summary Report You need to take time to ensure that the Capital Asset and Function Activity reports balance
33	"If the totals on the..." If the totals on the Capital Asset Summary Report are less than the totals on the Function/Activity Summary Report, check to make sure the Capital Classes are set up correctly Make sure that each Class is setup with the appropriate Group Flag Verify that the Depreciate Flag is set to Yes for Classes that are being depreciated and No for Classes that are not
34	"If the totals on the..." If the totals on the Function/Activity Summary Report are less than the totals on the Capital Asset Summary Report, run the Verify Schedule & GL Setup Report Check to make sure that all GASB34 reportable assets have the proper GL accounts and GASB34 percentage(s)
35	General Fixed Asset Reports
36	On the Fixed Assets panel, select “Reports”, “Assets” and “Dates”
37	"Acquired Date – This report..." Acquired Date – This report lists assets acquired for a given date range. It provides the following asset information: Acquired Date, In-Service Date, Dept, Class, Status, Tag Number, Asset Number, Asset Description, Original Value, Salvage Value, Depreciation, and Book Value (or current value)
38	"In Service - This report..." In Service - This report lists assets that were put into service for a given date range. It provides the following asset information: In-Service Date, Acquired Date, Dept, Class, Asset Number, Asset Description, Status, and Tag Number
39	"Disposals - This report lists..." Disposals - This report lists assets that have been disposed for a given date range. It provides the following asset information: Disposal Date, Disposal Method, Dept, Class, Asset Number, Asset Description, Original Value, Salvage Value, Depreciation, and Gain/Loss
40	"Transfer/Renumber Transactions - This report..." Transfer/Renumber Transactions - This report lists assets that have been transferred or renumbered for a given date range. It provides the following asset information: Transaction Date, Transaction Type (Transfer or Renumber), Dept, Class, Asset Number, Asset Description, Status, Tag Number, and Notes
41	"Applied Depreciation - This report..." Applied Depreciation - This report lists total depreciation by asset for a given date range. It provides the following asset information: Dept, Class, Asset Number/Description, Times Depreciated, Depreciable Life, Remaining Life, Depreciation Schedule, Date Last Depreciated, Status, Depreciation Basis, Fiscal YTD Depreciation, Life To Date Depreciation, Original Cost, Other Costs, Salvage Value, Disposal Proceeds, Disposal Costs, Book Value, Gain On Disposal, and Loss On Disposal
42	"Schedule Analysis – This report..." Schedule Analysis – This report is a comprehensive overview of selected assets by Depreciation Schedule. It provides the following asset information: Location, Acquired Date, Schedule Status, Frequency, Times Taken/Depreciable Life, Remaining Life, YTD/LTD Depreciation, Original Value, Other Costs, Salvage Value, Disposal Gain/Loss, and Depreciation Basis It can be run by: Acquired Date, Disposed Date, Inactivate Date, In Service Date, or Reactivate Date You also have the options to sort by: Location, Department, and/or Class You can select a Detailed or Totals Only Report
43	QUESTIONS/DISCUSSION