Erroneous Asset Removal

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18 Νοε 2013 (πριν από 3 χρόνια και 4 μήνες)

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1


State of Kansas

Erroneous Asset
Removal

Statewide Management, Accounting and Reporting Tool

Created: 0
6
/
1
8
/2010


Updated:
10/04/2012

Version #3


This job aid outlines the steps needed to remove an asset from SMART. Please note this is not
the normal retirement process.
This job aid should be u
se
d
if the asset was entered erroneously.
For example, you might need to remove an asset because you accidentally entered one and
saved. Another example would be if you incorrectly labeled the asset as a property asset
(Asset
Type = Property)
and shouldn’t hav
e. In that case, you

would need to

remove that asset
using the
steps defined below
and manually enter the corrected one using Express Add.


Steps to Remove an Erroneously Entered Asset


1.

Determine the
“Begin Depreciation Date” for the asset
.

a.

Navigate to
Ass
et Management >
Depreciation

>
Review Depreciation Info

>
Asset Depreciation
> Depreciation
tab

to determine the
date the asset began depreciating. Expand the Depreciation
Attributes section.
Document
the Begin Date
.

i.

Note: The most common error is that a
user will locate the In Service Date because it’s
the first one. You must use the Begin Date (circled in the screenshot below).




2.

The
Agency Adjustment/Transfer/Retirement Processor

must a
djust the cost of the asset down to
$
0
.00
.

a.

Navigate to
Asset Management > Asset Transactions > Financial Transactions > Cost
Adjust/Transfer Asset.


b.

On the Main Transaction page, enter the
Begin Date
(as documented in step 1)

in the
Transaction Date field.

(See note on next page for exception.)

2


i.

Note: If the
Begin Date is a future date (example: The current date is 10/03/2012 and the
Begin Date is 01/01/2013), use today’s date in the Transaction Date field. The goal of
the adjustment down to $0.00 is to remove any depreciation that has been booked.
Since no de
preciation has been booked if the date’s in the future, using today’s date is
correct.

c.

Select an A
ction of Adjustment and click GO
!



d.

Enter a zero in the Cost field for the
first

book.


e.

Click Save.

Click OK to any warning messages.


3.

The
Agency
Adjustment/Transfer/Retirement Processor

must r
etire the
asset
.

a.

Navigate to
Asset Management > Asset Transactions > Asset Disposal > Retire/Reinstate
Asset
.

b.

Click Go in the
first

book section.

3



c.

Click the Other Options tab. In the Description field
for
the

first

book, enter “
Erroneous Asset
Entered
.”


d.


Click Save. On the Retire Assets tab, the Ret Status should be New for all books.








4


4.

If the asset had the CAFR book, l
og a Help Desk ticket so that the Central Asset Processor can
validate all
accounting entries generated for the CAFR book have been backed out. Include the
following in your ticket:

a.

Category: Asset Management

b.

Sub
-
Category: Other

c.

Subject:
Erroneous Asset
Removal
-
validate entries

d.

Description box:

i.

Business Unit

ii.

Asset ID






Central

Asset Processor Corrections


Validating
CAFR

Entries are Backed Out

1.

Make sure there are no open transactions for the ass
et. If there are, run

the Depr Calc and
Create Acctg Entries processes ad hoc.

2.

Run
the
Depr Close process ad hoc for the affected asset
.


a.

Note: The batch process should not be affected by this ad hoc run. UC4 will skip the
error message about how Depr Close has already been run for this Business Unit and
complete the job.

b.

Select Rerun if Depr Close has already been run; select Reverse if
entries have been
posted to the GL and need to be reversed.

3.

Navigate to
Asset Management > Accounting Entries > Review Financial Entries
.

4.

Validate that all entries for the CAFR book have been backed out. If there’s an error, an
adjusting entry to the GL
may be necessary.