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CAPITAL ASSETS

CAPITAL ASSETS. Presented by CAPITAL ASSETS GROUP 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 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. At 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 all 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 30th 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. How to handle Surplus/Transfer of Assets? Surplus Equipment Transfer Form(3290A) should be completed and approved before submission to B-stock. Upon receipt of the Surplus form and documentation from B-stock, Capital Assets Group sends a confirmation email to the corresponding locations.

  10. 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 missing/stolen assets. 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.

  11. 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 

  12. 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

  13. QUESTIONS

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