Asset Management

Service Description

Asset Management is a complete asset life-cycle solution providing asset addition, depreciation, transfer, adjustment and retirement functionality for State agencies. Asset Management integrates with other State supported modules including Accounts Payable and Project Costing for asset additions and Strategic Sourcing (future functionality) for sale or surplus of assets. Capital Leases are supported with lease payment details, payment schedules and step lease functionality. Asset reporting and review features cover integration details, history, depreciation, accounting entries, transfers, leases, retirement and asset net book value.

Customer Benefits

• Record and track asset physical information including location, custodian, serial number and model number
• Capture procurement information through Accounts Payable integration including requisition, purchase order, receipt and voucher details
• Reduce manual intervention and errors through integration with Accounts Payable and Project Costing for asset additions
• Track and update assets by defined locations using asset transfer features
• System created accounting entries through accounting rules
• Setup and track parent-child assets that allow agencies to maintain component assets
• Track asset surplus details for those agency assets being sent to the Department of Central Services (DCS) for retirement
• Track all funding information for assets through State supported chartfield values
• Track federally purchased assets by using Project Costing chartfields

Customer Market

This service is available for all Oklahoma state agencies, offices, officers, bureaus, boards, commissions, counsels, units, divisions, bodies, authorities, or institutions of the executive, legislative, or judicial branches of state government. It is also available to counties, municipalities, townships, Tribal governments, and other political subdivisions.    

Customer Responsibilities

• Conversion of agency legacy system assets in conformity with CORE asset conversion format
• Create or verify asset location values to track physical location of agency assets
• Use receiving features to create required physical information for asset additions
• Work with CORE team to configure Asset Management to meet agency and Comprehensive Annual Financial Report (CAFR) requirements
• Engage in module testing including unit, integration and user acceptance testing
• Research and document agency business process related to asset processing
• Attend required training to receive system access
• Support additional data elements on procurement transactions to facilitate system generated asset additions

How Do We Charge?

There is no additional charge for the actual use of this PeopleSoft module. Agencies requesting new functionality may be asked to share in the cost.

Please contact the OMES Service Desk if you need any addition information about services in this catalog.