Data Collection & System Update
A. Data Collection
Data to be entered into the system is collected and researched by the Equipment Accounting Office. The data is then entered into the PeopleSoft Asset Management module of the University’s ERP financial software. The Equipment Accounting Office collects this data from the following sources:
- A monthly query of all charges posted to expense accounts “536200”, “536220”, and “536250. This query serves as the master list of monthly additions of Capital Equipment that flow through the University’s financial system.
- Purchasing and Accounts Payable modules of PeopleSoft ERP financial software. Information from Purchase Orders and vouchers for AP source transactions are pulled from the AP and PO modules of PeopleSoft. The Accounts Payable module contains the voucher number, speedtype, and account information. The Purchasing module contains the purchase order number, quantity, and item description information.
- Periodic reviews are made to see if any charges should be capitalized.
- Memos are used as a means to notify the Equipment Accounting Office of all other transactions affecting the equipment inventory that are not processed through the University’s Financial Software. An example of this would be a memo to the Equipment Accounting Office to serve as a notification for receipt of capital equipment or property gifted to the University. Other examples of memos would be to notify Equipment Accounting about the construction or fabrication of a capital equipment item and the receipt of government furnished property.
B. Information to be entered & stored in the Asset Management System
- Tag Number - The Equipment Accounting Office assigns a unique six digit number to each item of equipment entered into the inventory. For equipment items purchased prior to year 2000, the first two digits represent the ending fiscal year in which equipment was recorded. (Example: equipment purchased February 25, 1992, will have tag number 92xxxx). For equipment purchased after the year 2000, the first three digits represent the ending fiscal year in which equipment was recorded. (Example: equipment purchased February 25, 2004, will have tag number 204xxx). The tag number also represents the numbers listed on the property tag that should be affixed to every capital equipment item.
- Description - A thirty position alpha and numeric field containing standard nomenclature used to identify the type and specialized characteristics of a piece of equipment.
- Manufacturer - A thirty position field listing the manufacturer (i.e., who produced or made the equipment) of the equipment. The vendor (i.e., who sold the equipment to the University) will be listed as the manufacturer only if they are the same.
- Model Number - A thirty position field listing the manufacturer's model number for the equipment. Model numbers usually appear on the invoices or purchase orders. In the event that they do not appear, they will be obtained when the equipment is tagged or during the process of conducting a biannual physical inventory. In those cases, the model number for an item will be entered into the Asset Management system as a change. Please note that the most reliable model number is the one that physically appears on the equipment item and is identified during the inventory process.
- Serial Number - A twenty position field listing the manufacturer's serial number for the piece of equipment. Serial numbers sometimes appear on invoices but they are usually obtained when the equipment is tagged and then entered into the Asset Management system as a change to existing records.
- Equipment Location - A unique ten position field that represents the combination of the building (4-digit) and room (6-digit) numbers. For example, if an equipment item was listed as being in room 094700 of the Biomedical Research Building, the equipment location would appear as follows, 5C15094700. A separate listing of equipment locations for each department will be generated as a reference to be used to update the equipment locations for equipment items during the biannual physical inventory process.
- Building - A four position alpha/numeric field identifying the building in which the equipment is located. The building code will be represented in the first four-digits of the equipment location for an item. The standard Case building codes are used for building identification (Ex. Biomedical Research Building has a four-digit Building Code of 5C15.) Please note that Appendix C-Building Code Reference should serve as a guide for using the correct building code for the corresponding building name.
- Room - A six position field indicating the room in which the equipment is located. The room number will be represented in the last six-digits of the equipment location for an item. The six digit room number corresponds to the University’s official detailed space inventory listing of the room number and may not be represented by the number on the room plaque or sign outside of the room or space. Please note: The room number for OFF Campus space will always be the six-digit department number that corresponds to the department who has custodial responsibility for the equipment item.
For each equipment location the following detailed information is provided:
- Description- The listed description is the common name for the building.
- Location Department Name- This field displays the department name of the department assigned to the location in which the equipment is located.
- Location Department Number- This field displays the six digit department number that corresponds to the department assigned to the location in which the equipment is located.
- Cost – A field indicating the cost in US dollars for the piece of equipment. The actual amount paid shall be the cost recorded. The fair market value should be used for donated equipment and equipment transferred to the University. Please note that since cost is itemized by speedtype and multiple speedtypes are used to purchase an item, the total cost of an equipment item would be obtained by taking the sum of cost for all rows on an inventory listing under the same tag number. Some examples of costs and their relevance are discussed below:
- Freight and installation is to be included in the total cost of the equipment.
- Discounts (e.g., educational) shall be taken into account in arriving at the cost of the equipment.
- Additional components added to a system which are not themselves inventoried separately shall have their cost added to the system cost. (examples: printer cables and/or microscope components).
- Supplies and non-permanent accessories shall be excluded from the total cost.
- When a piece of equipment is traded in, two additional steps are required to properly record the transaction. First, the equipment being traded in is retired. Second, a reallocation is made to the new University tag number for the amount of the trade-in allowance. This is done in order to accurately reflect the funding source of the new equipment.
- Speedtype - A ten position field that enables you to enter the PeopleSoft project that populates pre-specified chartfield values for one or more fields in PeopleSoft. For example, the project, department, and fund fields are automatically populated based on the Speedtype value that is entered.
- In Service Date - An eight position field indicating the date on which an equipment item was entered into service. Generally the in service date will be defaulted to equal the accounting date that the equipment charge occurred. A six digit hyphenated field is provided for this input. For example: September 30, 2005 is represented by “09/30/2005". For all other equipment additions, the date of notification will be used.
- P.O. Number - A ten position field listing the purchase order number for a piece of equipment. The only PO information listed in Asset Management will be for equipment items added after the Asset Management System was fully integrated with the Purchasing and Accounts Payable modules of PeopleSoft ERP software. All historical equipment items (added to the equipment records before FY 2007) do not have their purchase order numbers listed. This information is kept outside of the Asset Management module.
- Acquisition Code - A one position code signifying how the equipment was obtained:
- "P" = Purchased
- "D" = Donated or gifted to the University
- "T" = Transferred in from outside the University by a new project investigator or Faculty Member
- "C" = Constructed, fabricated, or built in-house
- "R" = Trade-In
- Equipment Title - The codes used in this field indicates with whom the title of ownership vests for any given piece of equipment.
The following is a list of such codes:
- "1" Title vests with Case Western Reserve University.
- "2" Title rests with the funding agency.
- "3" Conditional - Title vests with the funding agency until Case makes a formal request to the funding agency for transfer of title to Case and that request is approved by the funding agency.
- "4" Government Furnished Equipment - Equipment not purchased through the Accounts Payable system but is furnished by the government and physically located at Case Western Reserve University. Title rests with the government.
- Department - A six-digit number that indicates the school or management center and the department financially responsible for the equipment. This field is a preset value that is derived from the speedtype charged for the equipment purchase. The first character identifies school or management center location. The second character is linked to a budget assigned by the Budget Office. The last four digits are assigned by the schools or management centers and may represent the historical four-digit FMS department number.
- Sponsor Name - A field indicating the name of the agency sponsoring a project to which equipment is charged. For sponsored programs, this field represents the name of the sponsor number in the PeopleSoft Grants module. For non-sponsored programs, the sponsor name is defaulted to the department name or the name of the endowment for endowment speedtypes.
- Award Number - A field that indicates the number of the award given by an outside agency for a sponsored project to which equipment is charged. Case, Case Western Reserve University, and NONE are default values that are used for equipment purchased with University held funds.
- Manager - A field indicating who is ultimately responsible for the speedtype to which equipment is charged. Manager is synonymous with principal investigator (PI) for all sponsored programs (ex. “RES”, “OSA”, “TRN”, “SPC”, or manager name for all non-sponsored program speedtypes (ex. “OPR”, “INS” or “END”…etc.)
- Equipment Custodian - A field indicating who is responsible for the equipment on a day-to-day operational basis. This field is often used to denote a secondary contact for the equipment item besides the Manager. This field can only be updated during the biannual physical inventory process or by filling out the Equipment Inventory Update form.
- Retirement Type or Code
INSERT TABLE HERE
- Retirement Date - An eight position field for the date of occurrence for any retired equipment. For example: September 30, 2005 is represented by “09/30/2005". For all other equipment retirements, the date of notification will be used.
C. Other Equipment Update Procedures
- Documentation of Retired Equipment - Every equipment item that is no longer actively being used and is retired from the University’s active listing of capital equipment must have an Equipment Retirement Form filled out to document why it is no longer actively being used. This is the case for all equipment items that are retired either during the biannual physical inventory process or by notifying the Equipment Accounting Office at an interim date.
- Tagging Capital Equipment - After an item has been added to the University’s equipment inventory, a six position numeric University property tag number will be generated. A corresponding unique blue or green tag will be placed on the equipment. The green tag, stating “Property of the U.S. Government”, will be affixed if any portion of the equipment is purchased on government funded speedtypes where title rests with the government. Green tags are also affixed to government furnished equipment. Blue tags will be affixed to all other equipment. The tag is to be placed in a conspicuous place on the equipment but not in an area where the tag might be damaged. Please contact Equipment Accounting for a replacement tag if a property tag is damaged or falls off of an equipment item.
- Physical Inventories of Capital Equipment - Because of the nature of the use of capital equipment, it may be moved to a different department and / or building over a period of time. Thus, in order to comply with government regulations and validate or update the Equipment Inventory, periodic inventories will be made. This inventory validation will be performed on a two year cycle. To assist in taking a physical inventory of a particular department, a special equipment inventory listing will be prepared for the department by Equipment Accounting.
Note: University policy dictates that equipment items will be assigned to departments based on ownership of the room that the equipment is located in. For example, Tag numbers 205250 is listed in the University’s equipment inventory records as being located in location code, “5A02003370” or University West Bldg., Room Number 337. Therefore, tag 205250 will appear on the Controller’s Office equipment inventory list.
In taking the inventory one of four conditions will be found:
Upon completion of the physical review of the report for capital equipment, the Equipment Accounting Office will make the appropriate adjustments to the equipment inventory list and confer with the department to reconcile any outstanding items or issues.
- Equipment is on the list and was found.
- Equipment is on the list and the retirement type is known.
- Equipment is not on the list and is found-Please contact Equipment Accounting
- Equipment is on the list and is not found-Please contact Equipment Accounting