The Asset Registration and Asset Transfer business processes have been updated to include a "To Do" step at the end of each process. This step will instruct the Cost Center Asset Tracking Specialist to complete the required Off-Campus Stewardship Form if the location on the business asset is "Remote Location." Per Ohio State policy, this form must be completed for all trackable assets taken off campus or assigned to an individual for off-campus use.
A validation has been put in place during the asset registration process that requires users to populate an Asset Coordinator. A warning will be shown to the user if this field is left blank. As a reminder, per Ohio State policy, Asset Management requires this field to be populated for all business assets.
Fiscal year-end is just around the corner, so now is the perfect time to start preparing for your 2020 Physical Inventory and Equipment Review (PIER) report. To make the review and submission process easier, here are a few things you can do prior to year-end:
Make sure each asset has a current building/room location, tag number, and custodian name in the Financials system. Record new assets as received in the Financials system. Submit any necessary retirement, transfer, or surplus forms. Forms received after June 26th will be processed in the new fiscal year, and therefore will not be reflected on your 2020 PIER report.
To view an accurate representation of your unit’s current "in service" assets, you can run the AMB100DW – On-Line Assets and Equipment report in eReports to determine what changes need to be made.
Disclaimer : The review and reporting period scheduled for the FY20 PIER is subject to university decisions made in the coming weeks as it relates to COVID-19. Asset Coordinators will be notified of any adjustments to the current schedule or process.
Asset Coordinators must enter receipts for capitalized assets and tracked non-capitalized assets into the Financials system by Friday, June 26 for the assets to be applied to FY20.
In addition, the Asset Management panels in the Financials system will be unavailable from 5 p.m. on Monday, June 29 until 7 a.m. on Wednesday, July 1 in preparation for the annual PIER report processing.
Due to COVID-19 and the limitations presented with access to assets, the FY20 Physical Inventory and Equipment Review (PIER) will be cancelled for the previously slated April 30, 2020 deadline.
The FY20 PIER will be rescheduled to start on July 1, 2020, with a deadline of August 31, 2020.
Units that submitted FY20 PIER certification forms that were accepted as complete by Central Asset Management Office as of April 10, 2020 will be given credit for those submissions. You will be notified in writing if your submission meets this status.
Key Reminders:
OCIO has removed the old FY20 PIER reports (run date of 2/28/20) from eReports Old FY20 PIER reports (run date of 2/28/20) will not be accepted moving forward Updated FY20 PIER reports will be uploaded to eReports on 7/1/20. Central Asset Management will send a notification with instructions on 7/1/20 when the updated FY20 PIER reports are available for download.
In preparation for the Workday transition, the FY20 Physical Inventory and Equipment Review (PIER) reports will be available early. PIER reports will be available on March 2, 2020 to ensure all asset information is correct in the Finance system prior to Workday go-live. The deadline for submitting updates is April 30, 2020.
More information will be released in the coming weeks with additional deadlines and instructions.
