9.2 Reviewing and/or Correcting Asset Data

Purpose:  Use this document as a reference for reviewing, modifying, and/or preventing asset interface entries in ctcLink.

Audience:  Financial Asset Manager, Facilities Asset Manager.

You must have at least one of these local college managed security roles:

  • ZZ AM Interface Processing
  • ZZ Receipt Entry
  • ZZ Voucher Processing

If you need assistance with the above security roles, please contact your local college supervisor or IT Admin to request role access.

Asset data interfaced from other modules can be reviewed, and some fields edited, at several points in the interface processing.  

  • The data in the Pre-interface tables can be reviewed and partially edited, or the entire transaction can be put on Hold or Excluded from further processing.
  • The data in the Interface tables can be reviewed and partially edited, or the entire transaction can be put on Hold or Excluded from further processing.
  • After the interface data has been loaded, the Pending Items can be reviewed, changed, or the asset deleted before any further processing occurs.
  • Finally, the most recent transaction, with some limitations, can be reversed so the asset can be adjusted/transferred/corrected.

Each of these reference points is addressed herein.

Reviewing and/or Correcting Asset Data

Navigation:  NavBar > Navigator > Asset Management > Send/Receive Information > Preview AP/PO Information

You cannot modify or delete retirement transactions, leased asset transactions, group asset transactions, joint venture transactions, or parent/child asset transactions.  Please reach out to Finance Customer Support if you have specific questions.

1. Preview AP/PO Information

The Load Assets Request process in AP populates the asset data into the Pre-Interface staging tables.  The data can be reviewed, and some fields modified.

  1. The Preview - Pre-AM search page displays.
  2. Enter AM Business Unit.
  3. Select Load Status = "Pending".
  4. Select Search.
Load Preview Pre A M search page
  1. The Pre-AM Financial tab displays.  The editable fields are:
    1. The Asset ID.  You can leave as NEXT to let the system auto-number the asset (recommended), or enter an Asset ID.
    2. Load Status.  The most common load statuses are:
      1. Errored - The status indicates that there is some error in the data that prevented the system from loading the data to the Interface tables.  Once you have corrected the error state, change the Load Status back to Pending to re-try the loading process.
      2. Excluded - Use this status to prevent the Load process from loading this data.
      3. Hold - Place the asset on hold if you need more information before loading.
      4. Pending - this asset is ready to load into the Interface tables.
      5. Loaded - this asset has already been loaded into the Interface tables.
    3. Trans(action) Date.
    4. Accounting Date.
  2. Select the Pre-AM Physical tab.
Pre A M Financial tab
  1. The Pre-AM Physical tab displays.  The editable physical fields, in addition to the Asset ID, Trans Date, and Load Status, are:
    1. Tag Number
    2. Serial ID
    3. Descr(iption), Item, and Custodian, if used
    4. Location where the asset will reside
  2. If all the information is correct, and the Load Status = "Pending", then the data is ready for he Retrieve Info from AP/PO process which will load the Interface tables.
  3. If you've made any changes to either tab, select Save.
Pre A M Physical tab
2. Review Interface Table Data

You must have at least one of these local college managed security roles:

  • ZZ AM Interface Processing

If you need assistance with the above security roles, please contact your local college supervisor or IT Admin to request role access.

Navigation:  NavBar > Navigator > Asset Management > Send/Receive Information > Interface Transactions > Review

The Retrieve Info From AP/PO process loads the Interface tables, where the data can be reviewed, and some fields modified.

  1. The Review Transactions search page displays.
  2. Enter AM Business Unit.
  3. Select Load Status = "Pending".
  4. Select Search.
Review Transactions search page
  1. The Review page displays.  In this component, the Financial and Physical information is presented on a single screen. The editable fields are:
    1. The Asset ID.  The Asset ID is now assigned, but can be modified if desired.
    2. Load Status.  Again, the most common load statuses are:
      1. Errored - The status indicates that there is some error in the data that prevented the system from loading the data to the Interface tables.  Once you have corrected the error state, change the Load Status back to Pending to re-try the loading process.
      2. Excluded - Use this status to prevent the Load process from loading this data.
      3. Hold - Place the asset on hold if you need more information before loading.
      4. Pending - this asset is ready to load into the Interface tables.
      5. Loaded - this asset has already been loaded into the Interface tables.
    3. Transaction Date
    4. Accounting Date.
    5. Transaction Code - these codes drive accounting entries.  If the Funding source (Fund) is governmental, select GOVT.  If the Fund is proprietary, choose PROP.
    6. The Chartfields can be modified in the Distribution section.
  2. Also, in the Distribution section, on the Cost tab, you can select the proper Cost Type.  Cost Type is also important for generating proper accounting entries.  If the Funding source (Fund) is governmental, select "G".  If the Fund is proprietary, choose "P".
  3. If the data is correct, the Load into AM process loads the Pending Items table, where one final check is available.
  4. If you've made any changes, select Save.

 

Review page
Cost tab
3. Pending Items

You must have at least one of these local college managed security roles:

  • ZZ Asset Processing

If you need assistance with the above security roles, please contact your local college supervisor or IT Admin to request role access.

Navigation:  NavBar > Navigator > Asset Management > Asset Transactions > Financial Transactions > Change/Delete Pending Trans

The next opportunity to correct/reject an asset is the Pending Items menu.  The Load into AM process creates Pending assets that can be modified or deleted.  

  1. The Change/Delete Pending Trans search page displays.
  2. Enter Business Unit.
  3. Enter additional Search Criteria to identify your transaction.
  4. Select Search.
Change Delete Pending Trans search page
  1. The Pending Trans Update/Delete page displays.
  2. You can review and update the Chartfields by selecting Update, or delete the transaction entirely by selecting Delete.
  3. Select Edit Trans Info.

 

Pending Trans Update Delete page
  1. The Transaction Information window displays.
  2. You can update the Trans Date, Acctg Date, and Trans Code.
  3. Select OK.

 

Transaction Information window
  1. The Transaction Information window disappears.
  2. If you've made any changes, select Save.

After the Depreciation calculation process has been run, the Asset can no longer be accessed from the Pending Items page.

Pending Trans Update Delete page
4. Transaction Reversal

You must have at least one of these local college managed security roles:

  • ZZ Asset Entry
  • ZZ Asset Processing

If you need assistance with the above security roles, please contact your local college supervisor or IT Admin to request role access.

Navigation:  NavBar > Navigator > Asset Management > Asset Transactions > Financial Transactions > Transaction Reversal

If, after reviewing Asset Depreciation or Accounting Entries, you find something wrong, the Transaction Reversal component will allow you to back out the most recent transaction that affected a particular asset.

There are some caveats, however.  Only certain transactions can be reversed, and only the most recent.  You cannot reverse the most recent, then go back and reverse the next most recent.  Other limitations include:

  • Transaction reversal can only be performed on assets that have completed the depreciation process.
  • Transaction reversal is permitted for initial asset addition, subsequent asset additions, adjustments, Chartfield transfers, recategorizations, and interunit transfers.
  • Reversal of initial asset addition is permitted only when entries are not yet posted to General Ledger.
  • Reversal of initial asset addition results in deletion of depreciation and accounting entries for that particular transaction.
  • Transaction reversal cannot be performed on leased assets, joint venture assets, group assets, or non-financial assets.
  • Transaction reversal is performed based on the previous transaction, whether for one book or multiple books—that is, the reversal process automatically reverses the previous transaction performed on the asset.
  • Reversal of a transaction other than the initial asset addition results in reversing the cost of the transaction.
  • If a transaction is found to be erroneous prior to running the depreciation process, the user must modify the transaction using the Pending Trans Update/Delete page.

Enter your AM Business Unit and at least one other filter criteria, such as the Asset ID, in the Search Page.  Select an asset from the Search Results.

  1. The Transaction Reversal search page displays.
  2. Enter Business Unit.
  3. Enter additional Search Criteria to identify your asset.
  4. Select Search.
Transaction Reversal search page
  1. The Transaction Reversal page displays.
  2. If desired, and if any are defined, you can select a Reversal Reason Code.  This field is not required.
  3. Enter a Comment.  While not required, the Reversal can be reviewed at any time, and this will assist in understanding the reversal.
  4. Select Save.

 

Transaction Reversal page
  1. Make any changes to the asset details and continue to process normally.
  2. Process complete.