PeopleSoft Asset Management will enable the University to more effectively track all capitalized assets while meeting reporting requirements. It will integrate with other PeopleSoft modules, such as the Purchasing and General Ledger, and will systematically manage the asset life cycle process, which will reduce processing errors and increase efficiencies. The University will be able to track physical and financial attributes of an asset, calculate depreciation, and provide accurate financial reporting. Capitalized assets can be defined into one of two categories:
• Major Equipment – Movable items with an aggregate cost of $5,000 or greater, such as servers, office
machines, research equipment, vehicles or furniture.
• Fixed Assets – Items purchased or constructed with respect to buildings, land that have a useful life span of greater than one year.
ENTERPRISE-WIDE INTEGRATION WITH A CENTRALIZED DATA REPOSITORY – Asset Repository Manager will provide enterprise-wide integration across the PeopleSoft application suite to support asset life cycle processes including the “Acquire-to-Retire” business processes. The centralized repository provides support for both financial and operational aspects of assets.
POWERFUL ASSET HANDLING - Addition, adjustment, transfer, retirement, and recategorization functionalities. Simplifies asset entry and adjustment tasks with automated functionality and intuitive data entry pages.
UNSURPASSED ASSET CONTROL - Stores extensive physical asset information to maintain tight control over our assets throughout their life cycle. Embedded audit trail ensures financial control through assets life cycle.
COMPREHENSIVE FINANCIAL SOLUTIONS are provided to ensure compliance with changing tax and accounting requirements.
EXTENSIVE ASSET INVENTORY TOOLS - Reconcile inventory data collected from inventory collection instruments, including hand-held devices and discovery tools.
Impact to Procurement & Receiving Procedures
• Acquiring items under $5,000 or a non-asset item over $5,000, such as consulting services the procurement and receiving procedurs will NOT be impacted.
• Acquiring major equipment over $5,000 the procurement and rec eiving procedures will be impacted. Please refer to the Questions & Answers document for further details.
• Acquiring items under $5,000, which are considered a piece of major equipment the procurement and receviing procedures will be impacted. Please refer to the Questions & Answers document for further details.