Office of ControllerUniversity of CincinnatiOffice of ControllerDivision of Administration and Finance

Office of Controller

Frequently Asked Questions

Accounting Changes

What should I do if an asset shell was created with the wrong account string (funding)?

If there is no purchase order invoice postings or P-Card allocations to the asset use UC Flex transaction AS02 (Change Asset) to change the account string on the asset shell Time Dependent tab.  If the asset is already assigned to a purchase requisition contact Asset Management after completing AS02 in order to have the purchase order refreshed for the change.

If invoice postings or P-Card allocations have occurred use UC Flex transaction AS11 (Create Sub-Number) and change the account string on the Time Dependent tab before saving the new sub-number.  Contact Asset Management to request an asset transfer from the original asset sub-number and account string to the new asset sub-number and account string. 

What should I do if an asset shell was created with the wrong asset class?

Use UC Flex transaction AS01 (Create Asset) to create a new asset shell.  Transaction AS02 (Change Asset) does not allow changes to the asset class.  Contact Asset Management to change the asset number on the purchase order or transfer the asset if the vendor invoice, P-Card allocation or A-114 has posted. 

What should I do if an asset was purchased but not coded as an asset on the purchase order, P-Card allocation or A114? 

First, create an asset shell in UC Flex using transaction AS01 (Create Asset).  Next use transaction AS02 (Change Asset) to enter an acquisition request on the asset record Origin tab.  

The Purchase Order number or P-Card document number should be included in the Comments section of the acquisition request.

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Asset Disposition

How do I remove an asset from my organizational unit’s asset inventory in UC Flex?

 In most cases the asset should be sent to Surplus Management for proper disposition.  The asset will be removed from the organizational unit’s inventory after it is received by Surplus.

Other methods of disposition require the organizational unit to obtain approval from Asset Management prior to disposition.  This is required by University Financial Policy 2.1.15, Asset Disposition.  Use transaction AS02 (Change Asset) in UC Flex to enter a disposition request on the asset record Origin tab.  

What should I do if an asset from my organizational unit’s asset inventory in UC Flex is stolen or vandalized? 

Immediately contact UC Police, UC Information Security (if the asset was capable of storing sensitive information), and/or UC Risk Management (for insurance considerations) as soon as this is discovered for all assets whether tracked in UC Flex or not. If the asset is tracked in UC Flex use transaction AS02 (Change Asset) and enter a disposition request on the asset record Origin tab.  

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Asset Tags

When will I receive an inventory tag for a recently created asset?

Asset inventory tags are issued by Asset Management after an invoice posting, P-Card allocation or A114 posting is made in UC Flex.    

Where should I apply a UC inventory tag on an asset?

Inventory tags should be applied to an easily visible location on the asset that will not require the asset to be moved in order to be seen.  Recommendations include:

  • The top/front left or top/front right is typically a good location for most equipment
  • Audio Visual Systems – Applying the tag to the control console is an option when the A/V System includes many components
  • Vehicles – Apply the tag inside of the driver’s door jamb
  • Computer Servers and rack mounted equipment – Apply the tag to the server whenever possible rather than the rack or server faceplate  

What should I do if I cannot apply a UC inventory tag to an asset?

There are special circumstances when a UC inventory tag cannot be applied to an asset due to the asset’s small size, sensitive calibration, or environmental conditions.  If these situations apply to a capital asset, the Organizational Unit should complete and keep on file an Asset Audit Exception Form, available on the Asset Management web site.

How do I request a replacement UC inventory tag?

Use transaction AS02 (Change Asset) in UC Flex to select the Replacement Asset Tag Request checkbox on the General tab of the asset record.  The request will be processed on the following business day and mailed via campus mail to your mail location.

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Capital Asset Audits

What is an auditor looking for when completing a Capital Asset Audit?

The auditor is looking for three matches when performing a Capital Asset Audit:

  • The asset is located in the building and room listed in the UC Flex asset record
  • An inventory tag is affixed to the asset and matches the asset number
  • The manufacturer serial number is listed in the UC Flex asset record

The UC Flex Asset Record FAQ’s include solutions for common serial number problems.

What should I do if an asset cannot be viewed at the time of a Capital Asset Audit?

There are special circumstances when an asset is located in an area that is difficult to access such as a rooftop, platform or clean area requiring protective clothing to avoid contact with hazardous materials or contaminating research areas. In these situations, the Organizational Unit should complete and keep on file an Asset Audit Exception Form, available on the Asset Management web site.

Why does Asset Management audit fully depreciated assets?  How do I remove them from my organizational unit’s asset inventory in UC Flex?

In accordance with Generally Accepted Accounting Principles an asset’s historical cost and accumulated depreciation are reported on UC’s financial statements regardless of book value. Assets are not removed from the inventory until final disposition is approved by Asset Management as required by University Financial Policy 2.1.15, Asset Disposition.    

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Purchasing Assets

What costs should be included in the cost of a capital asset?

Costs to place the asset in service should be included.  Examples include components, installation and freight.  The same asset number should be assigned to each requisition line included in the cost of the asset.

What costs should be excluded in the cost of a capital asset?

Costs that are operating expenses should be excluded.  Examples include supplies, testing, training and travel and service agreements.

How do I allocate an asset to my P-Card?

Create an asset shell using transaction AS01.  In the P-Card allocation enter 70 in the PstKy field, 100 in the TType field and the asset number in the Account field with a hyphen separating the asset sub-number (i.e. 106999-0).  Refer to Accounts Payable “Post P-Card Asset Transaction” work instructions on the UCFlex Help website for detailed instructions.

How do I allocate an asset to my A114 Request for Payment?

Create an asset shell using transaction AS01.  Enter the asset number on the A-114 form.

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Tracking Requirements

When is tracking an asset in UC Flex required?

Tracking an asset in UC Flex is required when the unit cost or market value is $5,000 or more and the probable useful life is at least two years.  This is required by University Financial Policy 2.1.13, Capital Assets.  Certain assets have individual components costing less than $5,000 but operate together as a system and in total exceed the $5,000 threshold.  These types of assets should be tracked as a single asset. The same asset number should be assigned to each requisition line included in the cost of the asset.  An example is Audio Visual Systems with several components.   

Tracking an asset in UC Flex when the unit cost or market value is less than $5,000 is optional unless the asset was acquired, fabricated or government furnished under a grant or contract that requires tracking the asset.

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UC Flex Asset Record

When is an Asset Sub-Number needed?

Every asset has a default sub-number of 0.  Additional sub-numbers (1, 2, 3, etc.) are needed when a single asset is purchased with multiple funding sources. The Responsible Cost Center and building/room is the same for each sub-number.  All or part of the account string (cost center, internal order, fund, functional area and grant) will differ between sub-numbers. Additional sub-numbers are created with UC Flex transaction AS11.

How do I enter or change the location for an asset?

Use transaction AS01 (Create Asset) or AS02 (Change Asset) in UC Flex to enter or change the building/room on the Time Dependent tab.  Since building names require an exact match to the Space Management System search by room number as follows:

  • Click on the match code button next to the room number
  • Remove the building name from the restrictions tab
  • Enter the room number on the restrictions tab
  • Select the green check to display all buildings assigned to the room number
  • Select the building by double clicking and save the change

What should I do if a building/room location is not listed in UC Flex?

Contact Asset Management to request adding the new location to the system.  Asset Management will then submit a request to the Space Management Department.

How do I delete a newly created asset shell?

If an asset shell or additional asset sub-number is created in error or a purchase is cancelled contact Asset Management to request deletion of the asset shell. 

What is a Responsible Cost Center (RCC)?

The Responsible Cost Center (RCC) is the 10 digit Cost Center (CC) entered in the asset record identifying the CC responsible for stewardship of the asset.  In most cases the RCC is the same as the CC that purchased the asset, but not always.  One CC may purchase the asset and another CC may have stewardship responsibilities.  If the asset is subject to audit, the auditor will work with the Organizational Unit identified by the RCC, not the CC.

What should I do if an asset has multiple serial numbers; no serial number or the serial number is not accessible due to installation location?

Serial Numbers are required for all assets tracked in UC Flex, but there are special circumstances when assets include multiple components and serial numbers, do not have a serial number (or other uniquely identifying information) or the serial number cannot be viewed in a safe manner or requires uninstalling the asset. Solutions include:

  • Enter MULTIPLE in the UC Flex asset record serial number field.  If desired individual components and serial numbers may be listed using the asset record Long Text button on the asset record General tab.  Adding “See Long Text” to the asset description field may be useful in identifying asset records using the long text option.
  • Enter NONE in the UC Flex asset record serial number field
  • Enter NOT ACCESSIBLE in the asset record serial number field

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