Session Session D - FAM Loading Legacy Assets & Other Topics 10/24/19

Comm Lab 1-3

SESSION D
Financial Asset
Management: Loading
Legacy Assets and Other
Topics
Jocelyn Milla (SDCOE) and Sally Morton (SDCOE)

Session Topics
• Welcome & Introductions (5 mins)
• Assets Management WorkCenter (5 mins)
• Loading Legacy Assets (10 mins)
• Why use PeopleSoft FAM? (5 mins)
 Guest speaker: Kathy Osborn (Lemon Grove)
• How to be successful in using PeopleSoft FAM? (10 mins)
 Guest speaker: Laura Medina (Oceanside)
 Guest speaker: Debbie Kelly (San Dieguito)
 Guest speaker: Kathy Osborn (Lemon Grove)
• What are the challenges and limitations? (5 mins)
• Other Items for discussion and testing (5 mins)
• Wrap Up & Closing (5 mins)

2019 PeopleSoft User's Conference | 10/24/19

PeopleSoft Conference 2019

Session Session D - FAM Loading Legacy Assets & Other Topics 10/24/19
Comm Lab 1-3

Asset Management
WorkCenter

Asset Management WorkCenter

2019 PeopleSoft User's Conference | 10/24/19

PeopleSoft Conference 2019

Session Session D - FAM Loading Legacy Assets & Other Topics 10/24/19
Comm Lab 1-3

Loading Legacy
Assets
Import data via spreadsheet

Loading Legacy Assets

• Define/Download spreadsheet template
• Fill in the template with your asset data to load
• Upload Spreadsheet
• Run Edit process
• Edit any errors, if any
• Run Load into AM process

2019 PeopleSoft User's Conference | 10/24/19

PeopleSoft Conference 2019

Session Session D - FAM Loading Legacy Assets & Other Topics 10/24/19
Comm Lab 1-3

Why Use
PeopleSoft FAM?
FAM – Financial Asset Management
Guest Speaker: Kathy Osborn, Lemon Grove

PeopleSoft FAM Features

Guest speaker, Kathy Osborn (Lemon Grove)
• Interfaces data from Purchasing and Accounts Payable modules
which eliminates extra work in inputting data into a separate
system
• Ability to load legacy assets using the import data process
• Depreciation feature
• Queries that detail where they are located, serial number, tag
number and funds
• Queries that are great tools for auditing purposes
• Ability to consolidate, unitize or exclude assets during the
integration

2019 PeopleSoft User's Conference | 10/24/19

PeopleSoft Conference 2019

Session Session D - FAM Loading Legacy Assets & Other Topics 10/24/19
Comm Lab 1-3

PeopleSoft FAM Purpose

• Education code compliance – Ed Code 35168 which requires
inventory of items that costs than $500.
• GASB 34 which requires items over specified threshold (normally
$5000) to be capitalized.
• Federal compliance – EDGAR compliance. Items purchased under
federal funds must be monitored.
 Perkins Audit
 Title I
• Tracking purposes only

2019 PeopleSoft User's Conference | 10/24/19

How to be
successful in using
FAM?
Guest speakers: Laura Medina (Oceanside),
Debbie Kelly (San Dieguito) and Kathy
Osborn (Lemon Grove)

PeopleSoft Conference 2019

Session Session D - FAM Loading Legacy Assets & Other Topics 10/24/19
Comm Lab 1-3

How to be successful in using FAM?

Guest speaker, Laura Medina (Oceanside)
• Take advantage of running integrations in the Sandbox to
understand the data requirements in each module in order to
properly load asset records in FAM.
• Train and remind users in each step (Req, PO, Receiving, AP) of the
fixed asset requirements of each module.
• Understand how asset data flows from Purchasing and AP modules
to the FAM module. Don't wait a long time before integrations.
The more often you do them, the less daunting the process seems.
• Keep track of any ON Hold and Excluded PO records
so that voucher records can be put ON Hold or Excluded as well.

2019 PeopleSoft User's Conference | 10/24/19

How to be successful in using FAM?

Guest speaker, Laura Medina (Oceanside)
• Sometimes it is necessary to cancel a receiving transaction for a
fixed asset.When that happens, put that transaction on HOLD and
handle it after the main integration.
• We allow partial receipts for fixed assets, as invoices will match
those partial receipts. However, these partial receipts will not be
integrated until the PO has been received complete.

2019 PeopleSoft User's Conference | 10/24/19

PeopleSoft Conference 2019

Session Session D - FAM Loading Legacy Assets & Other Topics 10/24/19
Comm Lab 1-3

How to be successful in using FAM?

Guest speaker, Debbie Kelly (San Dieguito)
• Excluded existing interfaced asset records since 2015.
• Started to integrate all 07/01/2019 asset items.
• Be sure that all items are marked properly as asset items. Two
things - AM unit and Profile ID.
• Be sure that the Receiving Requirement must be Required
• When receiving - to enter the tag number and serial ID as much as
possible to avoid unitizing
• Receiving person checks that there is an AM column
when receiving asset items

2019 PeopleSoft User's Conference | 10/24/19

How to be successful in using FAM?

Guest speaker, Debbie Kelly (San Dieguito)
• To avoid items to error out at the interface process, we
avoid multiple receipts or canceling any receipts.
• Do the integrating assets process on a weekly basis to work on a
smaller batch.
• Use the flowchart provided. This is your roadmap to success with
the integration process.
• Limited access to some screens and requires assistance to reset
errors.

2019 PeopleSoft User's Conference | 10/24/19

PeopleSoft Conference 2019

Session Session D - FAM Loading Legacy Assets & Other Topics 10/24/19
Comm Lab 1-3

How to be successful in using FAM?

Guest speaker, Kathy Osborn (Lemon Grove)
• Opted to not default capitalize checkbox
• Only check when item needs to be capitalized

2019 PeopleSoft User's Conference | 10/24/19

What are the

challenges and
limitations?

PeopleSoft Conference 2019

Session Session D - FAM Loading Legacy Assets & Other Topics 10/24/19
Comm Lab 1-3

Challenges and Limitations

• No object code field. Use the profile ID/asset category.
• Limited access to pages where you can reset the errors. Currently,
requires assistance from PeopleSoft Support to reset
errors. Security on the pages will be worked on when resources
are available.
• Process to handle multiple ChartStrings or split distribution.
• How to handle partial receipts, multiple receipts and canceling
receipts.
• When ordering computer equipment that requires E-waste fee.

2019 PeopleSoft User's Conference | 10/24/19

Other Items

PeopleSoft Conference 2019

Session Session D - FAM Loading Legacy Assets & Other Topics 10/24/19
Comm Lab 1-3

Items to Discuss
• How to incorporate the EWASTE fee into an asset cost to avoid
consolidation? Use as a miscellaneous charge similar to freight
charge.
• How to process asset items with split distribution?
• How to process E-RATE items? This is for future discussion.
Accounting and purchasing need to further discuss if the FAM
functionality will be able to accommodate this type of asset item
transaction

2019 PeopleSoft User's Conference | 10/24/19

Upcoming Items
• Physical Inventory feature – Testing in progress

2019 PeopleSoft User's Conference | 10/24/19

PeopleSoft Conference 2019

Session Session D - FAM Loading Legacy Assets & Other Topics 10/24/19
Comm Lab 1-3

Wrap Up & Closing

These slides and session notes are published
on the PeopleSoft Support website.
http://crc.sdcoe.net/peoplesoftconference

PeopleSoft Conference 2019