AM Frequently Asked Questions
When does the information in the pre-interface go away?
The information in the pre-interface always stays. You can mark the status as an error and search by status of pending.
Who loads assets into asset management?
You review the assets in the pre-interface, mark the ones you want to bring across in the pre-interface (mark the others “on hold” or “as an error”), then load the assets per the UPK. The interface is assigned and the nightly batch process brings the assets across for the next day.
Does it matter on the reason for retirement?
Yes. If sold, the system calculates “gain on sale”. If surplused, there will be a record of where that asset went. You may want to justify which reason is chosen in the comments section.
Does the date matter?
There are 4 dates to consider: please keep in-service date, trans date, and acquisition date equal (the same). The accounting date must be a date in the current open period! Depreciation calculates based on the first three dates; however, the asset will post to GL based on the accounting date.
I brought these July assets over in the pre-interface in September, why are they posting in September and not July?
Remember, the accounting date must be a current open period so General Ledger was posted in September. The assets were place in service and started depreciation as of July.
Do I select “depreciate when placed in service”?
Never. The system will pick up the in-service date and start depreciation using the mid-month convention and straight line depreciation.