1. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets Welcome

2. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets Please set cell phones and pagers to silent Refrain from side discussions. We all want to hear what you have to say! Feel free to ask questions. If your question is off-topic or will be discussed later in the training course, we will write it on a flip chart (parking lot) to be sure we cover it later Two breaks and a one hour lunch are planned Bathrooms / Snacks  First Things First

3. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets Get to know your fellow Trainers and Drivers!  Icebreaker

4. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets Training Materials Overview

5. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets Produced in Microsoft Word Contains key concepts, processes, and task information required to complete a user’s role in SMART Process flows and screenshots of the SMART system are included This is a great reference to use after training!  Participant Guide

6. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets Used to help the Trainer facilitate the course materials Produced in Microsoft PowerPoint Contains key content and graphics Generally used at the beginning or end of each Lesson  Concept Slides

7. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets Used to present the flow of either business processes or information within SMART  Business Process Flows

8. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets Produced in Microsoft Word Contains a scenario for each activity completed in the training database Provides data that you must enter for the exercise Organized by classrooms and users Take note of the user ID assigned to you  Activity Guide

9. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets Demonstration – instructor only (hands off) Walkthrough – instructor leads and participants complete exercise with instructor (hands on) Exercise – Participants complete on their own Challenge – Participants complete on their own  Activity Types

10. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets An online help tool that contains user procedures for completing tasks in SMART Used in training to perform a simulation of a SMART task or to be used during an activity as a help guide UPKs are also available after training on the SMART Training website UPKs are simulated to have the look and feel of SMART, but do not impact the production environment. It is a safe way to practice tasks that you perform in SMART.  User Productivity Kits (UPKs)

11. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets A short document that contains key concepts or steps involved in a course  Can be content or system related Available for all participants to use during training Used after training for quick reference from the Training Portion of the SMART website Referenced as often as possible during training to indicate the “handiness” of the material  Job Aids

12. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets  Questions

13. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets  Course Objectives Upon completion of the course, you will be able to: Understand asset adjustment, transfer, recategorization, retirement, and reinstatement Adjust and recategorize an asset Transfer assets within a business unit Retire and reinstate Assets

14. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets Lesson One Understanding Asset Adjustment, Recategorization, Transfer, and Retirement

15. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets  Key Terms and Concepts for Asset Adjustment, Recategorization, Transfer, and Retirement Adjustment – The process of modifying a change to fields that have financial impacts, such as changes to an asset’s cost Additions – Adds an additional cost line as a result of alternate or multiple funding sources Recategorization – The process of changing an asset’s category as a result of an incorrect asset profile selection These topics are found on pages 4 – 5 of your Participant Guide

16. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets  Key Terms and Concepts for Asset Adjustment, Recategorization, Transfer, and Retirement Transfer – The process of moving an asset to a different area within a business unit or to another business unit InterUnit Transfer – The process of moving assets from one business unit to another business unit IntraUnit Transfer – The process of moving assets between departments within the same business unit Retirement – The disposal or removal of an asset from use Reinstatement – The process of restoring an asset to service from retirement

17. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets  Defining Key Terms for Asset Adjustment, Recategorization, Transfer, and Retirement End to End Asset Management Business Process Flow

18. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets  Understanding Asset Adjustment, Recategorization, Transfer, and Retirement Processes Roles associated with Asset Adjustment, Recategorization, Transfer, and Retirement Processes Agency Asset Adjustment, Transfer, and Retirement Processor – role is responsible for recategorizations, adjustments, transfers and retirements. This role handles higher level activities then the Asset Processor who enters and reviews asset information.

19. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets  Lesson Summary In this lesson, you learned to: Explain key terms and concepts for asset adjustment, recategorization, transfer, and retirement Describe the end-to-end processes for adjusting, recategorizing, transferring, and retiring assets and how they fit into the end-to-end Asset Management process The responsibilities of the Agency Asset Adjustment, Transfer, and Retirement Processor

20. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets  Questions

21. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets Lesson Two Adjusting Assets

22. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets  Adjust an Asset Periodically, it is necessary to make changes to asset records to correct errors or add newly received information. You can adjust any information that has been entered about assets, including cost, market value, quantity, depreciation rules, location, physical attributes, and so on. Adjusting Asset Cost Process This topic is covered on pages 8 – 12 in your Participant Guide

23. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets Begin Activities We will now complete Activity 1 in your Activity Guide

24. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets  Recategorize an Asset You might need to recategorize an asset because an incorrect asset profile was selected, resulting in an incorrect asset category which affects balance sheet reporting. Recategorizing Asset Process This topic is covered on pages 13 – 18

25. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets Begin Activities We will now complete a walkthrough using a UPK: Recategorizing Assets

26. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets Begin Activities We will now complete Activity 2 in your Activity Guide

27. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets  Lesson Summary In this lesson, you learned to: Describe the impacts of adjusting and recategorizing assets Adjust asset information Recategorize Assets

28. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets  Questions

29. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets Lesson Three Transferring Assets

30. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets  Understanding Asset Transfers

31. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets  Understanding Asset Adjustment, Recategorization, Transfer, and Retirement Processes In addition to adjusting asset information, you may need to periodically transfer assets within a business unit or from one business unit to another. The intraunit transfer of assets involves transferring assets from one department, product, or project to another within a business unit. You need to relocate the assets and change some of the ChartField elements to post the asset cost correctly This topic is covered on pages 22 – 24 in your Participant Guide

32. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets Begin Activities We will now complete Activity 3 – 4 in your Activity Guide

33. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets  Transferring an Asset between Business Units Transferring an Asset between Business Units is a process performed centrally because of business unit security. However, the agency will need to complete a spreadsheet and send to central with all pertinent information needed to complete this transfer. This spreadsheet will be available on the course material web page as a resource. This topic is covered on pages 25 – 28 in your Participant Guide

34. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets  Lesson Summary In this lesson, you learned to: Explain asset transfers within and between business units Transfer assets within a business unit Transfer an asset between a business unit

35. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets  Questions

36. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets Lesson Four Retiring and Reinstating Assets

37. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets  Understanding Asset Retirement and Reinstatement Retirement Process

38. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets  Understanding Asset Retirement and Reinstatement Reinstatement Process

39. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets  Understanding Asset Retirement and Reinstatement Assets are fully or partially retired by quantity or by cost. You retire assets when they are either disposed of or no longer in use Disposal type for an asset Abandonment – Use when the asset has no resale value and is left behind Cannibalize for Other Assets – Use when the asset has been dismantled and the parts reused within your agency Casualty Loss – Use when an asset is unintentionally destroyed. If you cannot sell the asset, you might incur removal costs disposing of it. Donated to External Group – Use when an asset is donated KS Surplus (Retired to State Surplus) – Use when an asset is sent to State Surplus This topic is covered on pages 30 – 31 in your Participant Guide

40. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets  Understanding Asset Retirement and Reinstatement Disposal type for an asset (cont) Missing Asset – Use when the asset is missing. Missing assets have no proceeds or removal costs. Retirement by Sale – Use when you sell an asset Rtn_Fed (Returned to Federal Government) - Use when an asset is returned to the Federal Government Scrapped Assets – Use when the asset is no longer useful and has no resale value Traded In for Another Asset – Use when you are trading one asset for another

41. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets  Understanding Asset Adjustment, Recategorization, Transfer, and Retirement Processes When you retire an asset, Asset Management creates all of the necessary journal entries There can be instances where a retired asset needs to be reinstated. Asset Management enables you to reinstate retired assets. Asset Management will then update the appropriate depreciation tables with the newly reinstated asset information.

42. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets  Understanding Asset Retirement and Reinstatement When retiring a parent asset you are able to select some or all child assets with the parent in the transaction that you have initiated using the Child Assets page in the Retire an Asset overall page When you retire an asset, SMART creates the appropriate accounting and depreciation entries through a batch process, which is automatically run on a regular basis. The accounting entries are sent to the general ledger and update the value and depreciation information for the asset. Note: When you reinstate an asset, the accounting entries created by retiring the asset are reversed.

43. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets  Retiring an Asset by Sale This topic is covered on pages 32 – 37 of your Participant Guide The Asset Management module allows the proceeds received from the sale of an asset to be recorded when a retirement by sale transaction is recorded. The actual deposit for the cash received is not recorded in the Asset Management module. Record this transaction in the Accounts Receivable module as a deposit, which then posts to the GL Actuals Ledger in the General Ledger module

44. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets Begin Activities We will now complete Activity 5 – 6 in your Activity Guide

45. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets  Retiring an Asset by Trade-In This topic is covered on pages 38 – 40 of your Participant Guide The trade-in value of the retired asset is included in the cost valuation of the new asset New assets resulting from a trade-in must use the “Trade-in” acquisition code Use the Express Add to add the new asset. An agency will do this because the acquisition code is automatically defaulted to purchased when coming from Purchasing and the code cannot be changed. Depreciation has to be run on the asset being traded in before the new asset is added

46. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets Begin Activities We will now complete Activity 7 in your Activity Guide

47. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets  Retiring an Asset Using a Disposal Worksheet This topic is covered on pages 40 – 46 of your Participant Guide The Disposal Worksheet page provides a quick method to select assets to retire based on the following elements: Category, Book, Location, Profile ID, Acquisition Details, and ChartField values.

48. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets Begin Activities We will now complete a walkthrough using a UPK: Retiring Assets by Disposal Worksheet

49. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets  Reinstating Assets This topic is covered on pages 46 – 47 of your Participant Guide Only one asset can be reinstated at a time Reinstating an asset reverses all journal entries created by the retirement

50. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets Begin Activities We will now complete Activity 8 in your Activity Guide

51. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets  Lesson Summary In this lesson, you learned to: Retire assets by sale Retire assets by trade-in Retire assets using a disposal worksheet Reinstate assets

52. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets Begin Activities We will now complete Activity 9 in your Activity Guide

53. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets Closing the Day

54. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets  Use the following resources SMART Training Website  http://da.ks.gov/smart/training.html http://da.ks.gov/smart/training.html SMART Training Team  Contact us at smarttraining@da.ks.govsmarttraining@da.ks.gov SMART materials  Review, Review, Review your SMART materials after training!!

55. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets  Questions

56. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets  Evaluation Please fill out the evaluation for today’s instructor led training session! http://www.surveymonkey.com/s/SMARTtrainingAM341

57. AM341: Adjusting, Recategorizing, Transferring, and Retiring Assets Thanks for coming and participating today!