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CAPITAL ASSETS

CAPITAL ASSETS. Presented by CAPITAL ASSETS GROUP Accounting & Financial Reporting. How to contact Capital Assets Group?. PHONE (754) 321-8250 EMAIL CAPITAL ASSETS CONFERENCE. Which Account Assignment to use for a Capital Asset - Value of $1,000 or greater?.

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CAPITAL ASSETS

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  1. CAPITAL ASSETS Presented by CAPITAL ASSETS GROUP Accounting & Financial Reporting

  2. How to contact Capital Assets Group? PHONE (754) 321-8250 EMAIL CAPITAL ASSETS CONFERENCE

  3. Which Account Assignment to use for a Capital Asset - Value of $1,000 or greater? 56210000- Audio Visual Materials 56410000 - Furniture, Fixture & Equip. 56430000 - Computer Hardware 56510000 - Buses 56520000 - Motor Vehicles 56910000 - Computer Software

  4. Which Account Assignment to use for an Asset – Value of less than $1,000? 56220000 - Audio Visual Materials 56420000 - Furniture, Fixture & Equip. 56440000 - Computer Hardware 56920000 - Computer Software

  5. Asset ordered via STANDARD ORDER Asset received via GOODS RECEIPT REPORT downloaded from SAP by Capital Assets Group monthly ASSET added to Inventory How is an asset added to inventory?

  6. How is an asset added to inventory? A goods receipt transaction mustbe completed for each asset individually. After month-end, Capital Assets Group downloads the SAP report to capture all capital asset activity (purchases, returns & reversals). Each asset is identified by a goods receipt document number. Any goods receipt corrections should be processed before month-end. Assets are then added to “PROP” to their corresponding location.

  7. What is the significance of Goods Receipt? To capture capital assets in a timely manner To ensure asset information is accurately reflected in the inventory such as product description, serial number and location To avoid future audit discrepancies Reminder:All goods receipt transactions for year- end must be processed by June 28, 2011 to be reflected in the current fiscal year’s inventory

  8. How to track inventory? Request a PNI 811 inventory report for your location from ETS (Contact Lorena Widgeon) Communicateany inventory discrepancies to the Capital Assets Group via emailto Capital Assets Conference

  9. Surplus Process Flow

  10. How to handle Transfer of Assets? Surplus Declaration Transfer Form(3290A) should be completed and approved. Upon receipt of the original Transfer form and documentation from B-stock or property custodian, Capital Assets Group sends a confirmation email to the corresponding locations.

  11. How to handle Missing/Stolen/Donated Assets? Tangible Property Loss Report along with a copy of the Police Report and SIU Immediate Notification Report should be submitted to the Capital Assets Group for assets to be marked as missing/stolen in the Master File. Items listed on the Tangible Property Loss Report should also be reflected on the Police Report and SIU Report. Equipment Acquisition Formfor equipment valued at $1,000 or more that is acquired through internal funds or donations should be submitted to the Capital Assets Group along with a copy of the invoice.

  12. PNI Reports on OptiSpool Web • PNI REPORTS reflecting inventory changes when ETS updates the District’s Master File of Capital Assets Database: • PNI954A – provides a detailed list of all new equipment records entered into the Master File • PNI954B – provides a detailed list of all equipment records deleted from the Master File • PNI954C – details all modifications to equipment records (i.e. changes to property descriptions, serial number, and equipment condition)

  13. Procedures for Property & Inventory Control (Business Practice Bulletin: O-100) http://www.broward.k12.fl.us/erp/brite/support/businesspracticebulletins/Final%20for%20Website/O-100%20Procedure%20for%20Property%20&%20Inventory%20Control.pdf

  14. How to access Capital Asset Forms? Forms and instructions are available on the web @ http://web/forms/formsoptions.htm Detailed Asset Breakdown Over $1,000 Surplus Equipment Transfer Form    Tangible Property Loss Report / Equipment Acquisition Form 

  15. Detailed Asset Breakdown Over $1,000

  16. Surplus Equipment Transfer Form

  17. Tangible Property Loss/Equipment Acquisition Form

  18. SIU Report

  19. B-Stock Pick-up Acknowledgment Form

  20. How is an asset added to inventory? Asset received via GOODS RECEIPT REPORT downloaded from SAP by Capital Assets Group monthly ASSET added to Inventory Asset ordered via STANDARD ORDER QUICK REFERENCE GUIDE CAPITAL ASSETS CONTACT INFORMATION PHONE:754 321-8250 EMAIL:CAPITAL ASSETS CONFERENCE Forms and instructions are available on the web @ http://web/forms/formsoptions.htm Detailed Asset Breakdown Over $1,000 Surplus Equipment Transfer Form    Tangible Property Loss Report /Equipment Acquisition Form

  21. QUESTIONS

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