Asset Management Setup

All users who process assets need access to several security components and functions. Refer to the Permissions and User-Based sections below for information on the security features that need to be configured.

Permissions

To set permissions for users to the different Asset Management components in the system, go to Maintenance > new world ERP Suite > Security > Users. Select a user in the list and click Permissions. Click the Show Search link in the top-right corner of the page to expand the Search pane. Enter the following criteria in the Search fields to display the Asset Management components in the system.

• Permission Types
  • Company Applications
  • Company Documents and Notes
• Feature Groups — All
• Component Name — Asset
• Application — Suite

See Set User Permissions for more information on how to set permissions for users.

User-Based

User-based security allows authorized users to assign security permissions to various functions in the system for a specific user.

1. Go to Maintenance > new world ERP Suite > Security > User-Based Security.
2. Select the User that should be granted access to Asset Management.
3. In Function, select Asset Management Asset Classifications. The page refreshes to display the Asset Management Asset Classifications page.
4. In the Available Asset Classifications list, select and move the appropriate asset classifications to the Authorized Asset Classifications list.
5. Click Save.

The System Administrator in your organization must configure the system settings in New World ERP Settings and Company FM Settings before users can begin asset management processing.

New World ERP Settings

System Administrators can define the number of levels and the names of the levels used when users create asset classifications. Two levels are enough for most municipalities. Keep in mind that reports can be run on the individual classifications.

In New World ERP Settings, the Asset tab allows authorized users to define asset classifications. Go to Maintenance > new world ERP Suite >System > New World ERP Settings. Click the Asset tab and define the Levels of Asset Classifications needed . This information is used on the Asset Classifications page.

Company FM Settings

To access the Company FM system setting page to set defaults for Asset Management processing go to Maintenance > Financial Management > Company FM Settings and click the Asset Management tab. See Asset Management for more information.

Process Manager allows authorized users to set up and view the process or departments to which a user will be authorized and denote the level at which the user can approve transactions. This can be done in four different ways depending on the user’s security level. It provides the ability to define and maintain processing information by process, department, manager, and user. To access the Process Manager and set up departments and approvals as needed for your organization, go to Maintenance > new world ERP Suite > Process Manager.

Each asset is assigned a functional department and these departments are used in the process manager. The following processes are available for Asset Management:

• Inquiry
• Journal Batch Processing
• Maintenance
• Physical Inventory

(For more on Process Manager, click here.)

In addition to the above system settings discussed above, the system administrator should also configure the following areas in New World ERP to ensure users are able to process assets effectively.

Vendors

When keeping track of insurance policies and/or lease contracts the issuing insurance company and/or the capital lease agency must be setup as a vendor.

Locations

To access locations, go to Maintenance > new world ERP Suite > Miscellaneous Definitions > Locations. See Master Location for more information.

• All fixed assets must be assigned a general location (i.e., City Hall, Garage, Warehouse, etc.) and a specific location is optional (i.e., Aisle 1, Bin 3, etc.).
• When creating locations be sure that the Fixed Asset check box is selected for all locations that will have assets residing at those locations.

Employees

Choose one of the following two scenarios if your organization needs to identify employees responsible for assets:

• If the Human Resources (HR) Module will be used, the employee names will be pulled from the employee list (if Financial Management (FM) is implemented before HR then a dummy asset employee will need to be setup).
• If the HR module will not be used, then those who will be the responsible employee (required field) or the assigned employee (optional field) must be entered into Validation Set 38.

Capital Outlay Accounts

These expense accounts must be set up in all appropriate organization sets.

Items

Procurement items need to be setup in the system in order to enter new assets as well as create pending assets from the procurement and/or accounts payable modules. These items will be assigned an asset classification and will inherit the defaults set up for the given classification.

Go to Maintenance > new world ERP Suite > Procurement > Item to set up the item. Make sure you select the Asset Item check box on the Item page and assign the item to the proper classification. See Add an Item for more information on how to add and set up procurement items in the system.

It may be helpful to describe the items in such a way that will make it easy to pick out the items when entering in requisitions/vouchers, purchase orders and accounts payable invoices (i.e. , coding the items to start with “Fixed Asset”). There should also be one item for each classification (e.g., Fixed Asset – Land, Fixed Asset – Roads, Fixed Asset – Bridges, Fixed Asset – Autos, Fixed Asset – Trucks, etc.).

It is suggested, but not required, that you create a new fund to track all of the governmental fixed assets. Proprietary assets will be tracked within their own proprietary fund. The following accounts must be created and linked to the new governmental fixed asset fund as well as the appropriate proprietary funds.

• Assets – All tracking accounts with corresponding accumulated depreciation accounts.
  • Land
  • Building
  • Machinery & Equipment
  • Vehicles
  • Infrastructure
  • CIP
  • Acc Depreciation:
    • Buildings
    • M & E
    • Vehicles
    • Infrastructure
• Equity
  • Investment in Net Capital Assets

• Expense
  • Depreciation Expense (one account can be used and a manual JE will be used to break out the depreciation into the appropriate functions of government).
  • Transfers Out
  • Disposition/Write off
  • Capital Outlay (as stated above these accounts will be within the individual organization sets).

• Revenue
  • Transfers In