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Asset Management: Tips, Techniques, and Reconciliation

Asset Management: Tips, Techniques, and Reconciliation. Georgia Knauss Sr. Support Engineer Support and Delivery georgia.knauss@us.lawson.com. What we will cover …. Setup Processing: Tips and procedures Edits and trouble shooting Month-end Procedures Advanced functionality

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Asset Management: Tips, Techniques, and Reconciliation

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  1. Asset Management: Tips, Techniques, and Reconciliation Georgia Knauss Sr. Support Engineer Support and Delivery georgia.knauss@us.lawson.com

  2. What we will cover … • Setup • Processing: • Tips and procedures • Edits and trouble shooting • Month-end Procedures • Advanced functionality • Reconciliation and Reporting

  3. Monthly Processing Processing Release Released Addition Entered Adjustment in Progress Depreciation Calculation and Listing Released Transfer in Progress Asset Status by Process Disposal in Progress Reinstatement in Progress Period Close Released

  4. System Options (AM16) Default options by company for processing assets. Knowledge Base: 130497

  5. System Options Adjustment Compute Y Only AM 16 Calculate Remaining Life = Y

  6. System Options AM 16 Display Journal Entries = Y

  7. Asset Additions • Quick addition (AM20.1) • Single asset Addition (AM20.2) • Interface asset addition (AM15, AM115) • AMINTER / DBAMAMI • Conversion asset addition (AM500) • No Journal entries • Reports: • Reports: AM220 / AM223 / AM275

  8. Quick Additions

  9. Quick Additions: Items

  10. Quick Additions: JE

  11. Interfaced Assets AP / AC

  12. Mass Addition (AP / AC Assets) More Selection Options Also See KB 136042 Selection Options

  13. Edits and Checks • Account Edits • Activity Edits • Date Edits • Accounts, activity and dates are edited during all processes. • This is our opportunity to make sure data is intact for update jobs

  14. Additions Depr Expense Activity: Determines by Asset

  15. Defaults: Account and Activity Activity used whenever Account Group is used Activity used whenever type is used Blank Accounting Units Substituted by AM20.2 Def Accounting Unit

  16. Account and Activity Edits Tips • Account Edit • GL00.3, GL00.4, GL00.5 Chart Values • GL20.2, GL20.3 Detail Account Values • Activity Edit • AC00, AC10 Activity Group and Activity Edit • AC06, AC08 Account Category Edit • AC07, Account Edit Activity Account Category can default from GL00.4, GL00.5, GL20.3, or AC10

  17. Journal Entry Edits Date

  18. Date Edits Tips Option 1 • Change Date on AM20.5 • Date must be inside Valid Entry Dates on GL01. Option 2 • Turn Control off (GL01) and / or open GL Period for Back Posting • Posting period closed: first open period substituted

  19. Adjustments and Transfers • Adjustments • Single asset adjustment (AM20.2 to AM20.5) • Change many things for one asset • Mass Adjustments (AM25 / AM125) • Change one thing for many assets • Reports: AM225 / AM275 • Transfers • Single and partial asset transfer (AM30) • Mass asset transfer (AM35 / AM135) • Reports: AM230 / AM235 / AM275

  20. Adjustments VS Transfers

  21. Adjustments • Tips • Can reset single asset adjustment on AM20.2 before AM170 update. • Can delete mass asset changes before AM170 update (AM125: Release = Delete) • AM25 filter options • Narrow selection more – use same to and from change on AM125. • Remember: Set Posting Entries flag on AM125 to Y

  22. Transfers • Tips • Can delete single asset transfer on AM30 before AM170 update. • Can delete mass asset transfers before AM170 update (AM135: Release = Delete) • AM35 filter options • For inter-company transfers all books on the from and to company must have the same calendar set up • Remember: Set Posting Entries flag on AM135 to Y

  23. Disposals and Reinstatements • Disposals • Single and Partial asset disposal (AM40) • Mass asset disposal (AM45 / AM145) • Reports: AM240 / AM245 / AM275 • Reinstatements • Single asset reinstatement of a full disposal only (AM41) • Reports: AM241 / AM275

  24. Disposals • Tips: • Can delete single asset disposal on AM40 before AM170 update. • Can delete mass asset disposals before AM170 update (AM145: Release = Delete) • Use the “purge” type disposal if no gain or loss should be calculated. • Remember: Set Posting Entries flag on AM145 to Y

  25. Reinstatements • Tips • Reinstate full disposals only • Reinstatement must be during the same year of disposal. • All disposal records are deleted. (Except transactions) • After update with AM170 asset returns to a live asset with a released status

  26. Posting Book - Transactions • All Processes create transactions where applicable • Additions / Adjustments: AM20.5 • Transfers: AM30.3 • Disposals: AM40.4 • Reinstatements: AM41.2 • Used for reconciliation / update to GL • Used for history creation • Reports:AM275 / AM270 AMTRANS DBAMAMT

  27. Processing Release • Tips (Version 8.0) • Prior to AM170 in update: • AM275 for all books for journal entry / audit record review • Tips (Version 8.1 and 9.0) • Prior to AM170 in update: • AM170 in non-release for posting book journal entry review • AM275 for non-posting book(s) for audit record review

  28. Processing Release • Tips (Continued – all versions) • Run for selected processes • Update creates released journal entries • General Ledger (GL45 – Released entry) • Activity Management (AC45 – Released entry) • Prepares system for Depreciation Calculation

  29. Depreciation Calculation • Tips • Calculates Current Period depreciation • No update to YTD, LTD or remaining life • No journal entry creation • Can be run multiple times • Reports: • AM260, AM280 • Preliminary close option to include calculated amount in YTD and LTD • All Assets

  30. Period Close • Tips • Run in non-update and verify journal entries • Verify AM01 calendar before close • Verify AM01 calendar after close • Run in detail format for easy reconciliation • Error: Period or year end incomplete • Creates released AM, GL and AC transactions

  31. Other Programs • Programs that can speed up processing or help out with “what if” situations. • Depreciation History Rebuild and Balance Creation • AM310 / AM320 / AM501 • Asset Book Copy • AM120 • Book / History Purge • AM310 • Disposal Asset Purge • AM330

  32. Reconcile AM to GL… If you want to reconcile AM260, AM280, AM220, AM230, AM240, AM241 To General Ledger You have to Make sure you have a journal entry to reflect the change / process for the asset.

  33. Reconciliation Reports • Account Balance Report - AM270 • Released transactions • Transaction Report – AM275 • Released or Unreleased transactions Source: AMTRANSUMM / DBAMATS – Balances (AM99) AMTRANS / DBAMAMT – Posting Book Transactions

  34. Logic of AM270 • Beginning balance: • AM99 record (AMTRANSUMM) from prior year-end • Add Transactions (AMTRANS) from prior year end to beginning date requested for report. • Content: • All AMTRANS records with dates between the requested dates • Ending Balance: • Sum of Beginning Balance and Content • This is a calculated amount – from this report

  35. Other Reports • Asset Report - AM260 • Current Year Depreciation Report - AM280 • Addition Report – AM220 • Transfer Report – AM230 • Disposal Report – AM240 • Reinstatement Report AM241 Source: AMASTBOOK / DBAMASB (AM20.4) Source: AMASTBKTRF /DBAMABT, AMASTBKDSP / DBAMABD, AMASTBKRIN / DBAMRIB

  36. In other words… When you make a change on AM20.4 (AMASTBOOK / DBAMASB) Then Make sure that you have: • A transaction to reflect the change • Accepted by the user (AMTRANS / DBAMAMT) Because Released AM transactions = Released GL transactions

  37. Reconciliation • Tips • AM260 / AM280 Consider: • Disposal assets • Fully depreciated assets • Preliminary close option • AM99 beginning and ending balance corrections • KB articles 72290 and 85817 • AM275 for detail transactions by asset • Attribute lists by creation date • Reconcile AM to GL transactions: KB article 69513

  38. Questions?Thanks for attending!

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