Note: These guidelines include Wesnet Comments in Red, and are taken from the CASES21 Finance Business Process Guide—Section 4: Assets
ASSETS LESS THAN $1000: Categories have been created starting with ‘AA’ that will allow schools to track attractive items in the assets register. To comply with SEIS requirements all computers, audio-visual and photographic equipment must be entered into the assets register using one of the ‘AA’ categories if it is less than $1000.
The level to which schools record items under $1000 in the assets register is at the discretion of the school management. If you have the resources and time to enter and manage all items purchased under $1000, then by all means do so. Remember that these items do not feed to Oracle Assets. They must be included in your stock-takes, and released from the assets register when they have been expended.
Wesnet recommends that you record all items that the SEIS (School Equipment Insurance Scheme) requires, plus any other items (over $100 for Primaries and $200 for Secondaries) that are considered attractable. A basic rule of thumb is if they are items that could turn up in a Cash Converters shop, put them on!
ASSETS GREATER THAN $1000: All assets must be recorded on the assets register and assigned one of the capitalise categories. These are the categories that do not start with ‘AA’.ASSET STOCKTAKE: As part of the asset management process it is necessary to carry out a stocktake on an annual basis. For more details on this process please refer to http://www.sofweb.vic.edu.au/schoolfinance. From the toolbar select Cases21/CASES21 Finance Policy and Guidelines/Asset Management Policy.
Depending on the type of stocktake that is going to be carried out, there are particular reports that will provide assistance. The most relevant one is the Asset Stocktake List by Location (AR21107S).
Wesnet uses a hand held scanner with your assets21 assets register loaded into it, rather than printing out the ‘Asset Stocktake List by Location' (Which relies on the assets being in the rooms CASES21 says they are in). We find this procedure more accurate and time effective, especially in schools with larger assets registers. The scanner also has the advantage of being able to locate assets by not only location, but also by serial number, make, model and description.
RECORDING STOCKTAKE—AR31085S: Once the physical stock take has been completed, it will be necessary to process this information into CASES21 Finance using the Asset Stocktake (AR31085S) format.
Wesnet records the stocktake for you which applies the stocktake date on every asset in your register, thus fulfilling the DE&T requirements.