Workshop: Fixed Assets Advanced (Setup) A hands-on session to teach/review implementation steps for Asset Management. This session will also cover some new enhancements. Steps: Logon to Multiview: 1. Username: IMUG10 2. Password: imug10 3. Database: MV Planning your Fixed Assets Implementation Organizing with Templates A successful implementation of your fixed assets can be easy with some advanced planning. Multiview provides templates to help with the gathering and uploading of this information. There are three (3) basic steps to an implementation of fixed assets: 1. Information Gathering and Setups 2. Test load and reconciliation 3. Go-Live load and process Information GATHERING There are four major pieces of information you will need: 1. Equipment Codes (Template FA_1_Equpment_Codes) System Maintenance Asset Management Setup Equipment Codes These codes are the unique combination of depreciation methods and depreciation lives. Unlike the name implies, these codes do not necessarily need to be tied to the type of equipment or property being depreciated, but they can be. The code can also be expressed in years or months; i.e. 5SL for a 5 year straight line method or 60SL for a 60 month straight line method, or even 5YR can be used. 2. G/L Account Master Listing System Maintenance Asset Management Setup GL Accounts and Account Relationships G/L Format tab: This is where you create the format for the segment string used with Asset Management. In this example, the unit is 4 characters, the account is 6 characters and the RAD (Sales Region) is 3 characters. Page 1 of 5
A word about RADs if the RAD is always the same you do not need a segment for the RAD. It can be handled in the UAP mapping table. If there are multiple RADs for one unit account combination, then it must be accounted for in the segment string, and if of varying length, the segment will need to be set to longest RAD Id length. The total positions in the string cannot exceed 25. G/L Master Listing tab: (Template FA_2_GL_Master) The listing consists of all the possible unit-account-rad combinations that could be used in conjunction with recording fixed assets. This includes all unit-account-rad combinations for cost (acquisition) accounts, accumulated depreciation accounts, depreciation expense accounts, amortization expense account, and selling expense and gain/loss accounts, etc. G/L Relationship tab: (Template FA_3_GL_Relation) For each cost (acquisition) account listed in the GL Account Master Listing, you will list all associated unit-account-rad combinations that can be used with that acquisition account. It is easiest to think about this in relation to the journal entry you want to export to the GL. For example, every acquisition unit-account-rad combination needs an associated unit-account- RAD combination for accumulated depreciation, depreciation expense, expense of the sale of the asset, proceeds of the sale of the asset, gain/loss on the asset and impairment loss. It is possible that some of the accounts involved will be the same unit-account-rad combination. 3. Asset Additions (Template FA_4_Additions) Multiview Asset Management Fixed Assets Interfaces (or Assets for manual data entry) o This is covered in the Fixed Assets Intro Session however let s review a few items to be aware of in the upload template when you have a great number of assets you re bringing into Multiview from another fixed asset system Watch the number of characters in each header for maximum field length asset description is only 40 characters. All date columns must be formatted as dates All number columns must be formatted as general, no commas All other columns must be formatted as text Try to eliminate the use of apostrophes or quotes in asset descriptions Check columns for leading or trailing spaces Page 2 of 5
Determine Other Information Necessary for Implementation There are various User Defined Fields (UDFs) that can be defined for additional inquiry and analysis with the assets. Further, fields such as Location or Category may be implemented or be required to be implemented in order to make more granular information available. Needs for this type of information should be discussed with your Multiview implementer as a determination needs to be made as to whether or not this information should be included as a segment of the GL string. Setups Creating a new company in Asset Management is a critical first step to define the asset subledger that supports the asset control accounts in the General Ledger. A new company, separate from the financial company in Multiview, is necessary because there may be situations where there is not a one-to-one relationship between the financial company and fixed asset management; i.e. several financial companies may be rolled together for tax reporting purposes. 1. System Maintenance Asset Management Setup AMS New Company Wizard 2. Click on Next in the lower right corner to begin 3. Complete the fields as follows: a. Company ID use your first and last name initials b. Company type your first and last name c. Last Day of Tax Year 12-31-2016 d. Consolidated Group ID (Tax) leave blank used for recording impairments e. Fin Accounting Entity Parent Co Id Leave blank f. Setup Date leave as default (today) 4. Click on Next in the lower right corner to continue to G/L Account Format 5. Select Add G/L Account Format and add the following segments (form will advance and auto-number each segment when description is entered): Segment No 1 Business Unit length of 4 Segment No 2 Account Number length of 6 Segment No 3 RAD length of 2 6. Click on Next in the lower right corner to continue to G/L Account Master 7. The G/L Account Master contains every unit-account-rad (if used) combination to be used with fixed assets. Page 3 of 5
Every implementation will need an offset account to create assets (0000-000000-00) as a balanced entry. Typically the debit for additions is not sent to the GL because the entry already exists, but it is needed in the sub-ledger to balance the entry. Click on Add G/L Account Master and add the 4 accounts displayed on the screen, and highlighted in orange, from our prepped FA_2_GL_Master template. 8. Click on Next in the lower right corner to continue to G/L Account Relationships 9. Click on Add G/L Account Relationships to define the account relationship for A Field Equipment Region 101 assets. You can use the LOV drop-down to select the accounts see the screen for the orange highlighted line to add. 10. Click on Next in the lower right corner to continue to Company Users 11. Click on Add Company Users to define which users have access to use the Asset Management module. Select IMUG10 (yourself) and MANAGER. 12. Click on Next to continue to Company Options 13. The default Company Options are presented. The only one that is normally changed is Post Acquisitions (because they are already in our General Ledger balances and we don t want to double-post). Untick the Post Acquisitions option. 14. Click on Next to continue to Calendar Information. 15. We are going to create a calendar for a calendar fiscal year (Jan-Dec). Enter the company s current year as 2017 and the last day of December. 16. Congratulations you have completed the AMS New Company Wizard select Finish to complete the setup. 17. Next Step: UAP Mapping translates the GL string to the Multiview unit and account and RAD and code setups UAP Mapping The setup of this map is needed to translate our GL Accounts in the fixed asset module into actual separate business unit, account and RAD that will post to the General Ledger. System Maintenance System Administration Interfaces UAP Mapping Maintenance 1. Query on the Map Control ID of FAGL 2. Go to the Map Data tab 3. You will see mapping entered in here for other fixed asset companies. We can add the mapping for our new company to what already exists. 4. The columns for business unit, chart and account are labeled. Map Key 1 refers to the Company ID of the new company you just set up in fixed assets. May Key 2 is the GL Accounts set up in fixed assets. Note the RAD is attached in the lower half of the screen on the lines where necessary. 5. Let s add our 4 fixed assets GL strings into the map. Use your search tools in the drop downs to choose the correct unit, account and RAD. Page 4 of 5
Test Load and Reconcile The test load is normally done in the MVT test database. The assets are loaded as Pending Transactions. 1. Reconcile the total for the Book Value to the template and to your General Ledger. Not all the fields aren t visible on the Pending Transactions screen, so it is best to do some quick checks at a high level at this point and a more detailed reconciliation later. 2. Validate the pending transactions for errors that the load interface does not catch. 3. If there are errors, it is possible to delete multiple assets at this point if there are only a few. If the errors are wholesale, re-loading the template with the same Batch Id will perform a mass replace. 4. If all entries tie to the controls, it is safe to post the assets. 5. Once posted, the assets will appear in Assets and at this point can only be deleted one at a time. 6. To further reconcile, group the assets by category or other factor and check by group totals or spot checks or a detailed review. 7. Set your report dates to the current period in order to generate the YTD depreciation expense for the assets. 8. Run calculations this is similar to a refresh and will need to be run each time you wish to run a report. 9. In AMS GL Export, generate the depreciation entry (one more double-check to make sure you have the correct book period end date). This initial depreciation entry will include all transactions from the start of the fiscal year to the current period end date. This should be reconciled with the YTD depreciation already recorded in the General Ledger as this entry is meant to replace those entries. It is natural for there to be a slight variance as Multiview computes depreciation daily rather than monthly. 10. If the generated depreciation entry makes sense, a manual reversing entry is needed in the General Ledger to back out the YTD depreciation entries already posted. Selecting the Export button in the AMS GL Export screen will post the newly generated depreciation to the General Ledger. Go-Live Load and Process Repeat setups and load in Multiview production database at selected cut-over date. Page 5 of 5