Physical Inventory (40.2.5)
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Physical Inventory (40.2.5)
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Business Process Overview
The Agency AM Asset Processor initiates the setup of physical inventory in Florida PALM by defining inventory occurrences and selecting parameters like BU, Org, or Location to establish a Physical Inventory ID for each cycle. The processor then extracts inventory data from Florida PALM to be used in subsequent steps and can review the extracted data on the Review Extracted Data page. The Outbound Asset Physical Inventory Extract, containing both fully and partially sensitive asset records, assists in performing physical inventory. Using handheld scanners, the processor collects asset counts and features, reconciles this data with Florida PALM records, and uploads it to the system. Reconciliation involves identifying missing items and reconciling counts. Duplicate tag numbers are identified and marked as errors. Matching reconciled data with Florida PALM data generates physical inventory results. The Generate Transactions process creates Asset Management Transactions based on these results, allowing users to review and approve transactions before processing. If the inventory is conducted outside Florida PALM, previous data extracts can be deleted, except for the most recent one. If the inventory is within Florida PALM, no extract is generated, and thus, no deletion is necessary.
Business Process Diagram
Business Roles
The Business Process Flow Diagrams use horizontal swim lanes to depict where activities are performed by different parties or systems. Each swim lane is titled with a role, either agency-based or within DFS, and in some cases, are representative of an external entity or system. The swim lanes may change from page to page within a single business subprocess as more or fewer roles are required to execute sections of the business subprocess.
- Agency AM Asset Processor: agency role responsible for creating and maintaining asset records in Florida PALM
Business Process Flows Details
The tables below describe steps in each business subprocess as reflected on the Business Process Flow Diagrams. The tables also reflect information associated with each step describing the intent of the specific process. Florida PALM screenshots are included within the sections to allow connections to be made from specific business subprocess steps to screens within Florida PALM. This information should be read in conjunction with the Business Process Flow Diagrams.
Process Step ID | Process Step Title | Description of Process |
|---|---|---|
1 | Set Up Physical Inventory | The Agency AM Asset Processor sets up the physical inventory by defining each physical inventory occurrence, selecting inventory parameters, and entering selection criteria in Florida PALM. Florida PALM establishes a Physical Inventory ID, for each inventory cycle. The inventory parameters could be by BU, Org, Location, Building, Custodian, or any identifiable grouping of asset records. |
2 | Extract Asset Data | The Agency AM Asset Processor extracts the inventory data, for the Physical Inventory ID, to be used in subsequent steps of the physical inventory. Users can navigate to the Review Extracted Data page to view the results of the extract data. The relevant data is generated as An Outbound Asset Physical Inventory Extract by Florida PALM. The Outbound Asset Physical Inventory Extract includes asset records marked as Fully Sensitive and asset records marked as Partially Sensitive. |
3 | Outbound Asset Physical Inventory Extract (AMI004 or AMI009) | The Agency AM Asset Processor uses the Outbound Asset Physical Inventory Extract generated by Florida PALM to assist performance of a physical inventory. The asset extract reflects a Florida PALM listing of Asset IDs, asset descriptions, and location defined by the selected inventory parameters. |
4 | Perform Physical Inventory | The Agency AM Asset Processor collects the physical counts and identifying features of verified assets via handheld scanner devices configured for an agency business system. The data collected by handheld scanners are uploaded to the agency business system. |
5 | Reconcile Physical Inventory Results | The Agency AM Asset Processor reconciles the inventory data uploaded to the agency business system (or from the handheld scanners) to Florida PALM data contained in the asset extract to identify missing or unrecorded items. |
6 | The Agency AM Asset Processor uploads the reconciled inventory data to AM. The Inbound Asset Inventory Load reflects an update of data contained in Outbound Asset Physical Inventory Extract. | |
7 | Load Inventory File | The Agency AM Asset Processor updates the asset extract file with results from the physical inventory. Updating the file includes acknowledging data, identifying variances, disputing listed information, and suggesting updates. |
8 | Review Inventory Data | The physical inventory functionality in Florida PALM requires a Tag Number be affixed to each asset record for tracking. The Agency AM Asset Processor reviews reconciled inventory data uploaded to Florida PALM to identify duplicate Tag Numbers. |
9 | Verify Duplicate Tag Number | The Agency AM Asset Processor verifies duplicate tag numbers and marks the records as errors in the final inventory. |
10 | Generate Results | The Agency AM Asset Processor performs matching between the uploaded, reconciled data and Florida PALM data to create physical inventory results. The physical Inventory report is used to identify asset records in Florida PALM after current inventory is conducted and asset count is reconciled. |
11 | Generate Transactions | Generate Transactions process involves creating Asset Management Transactions based on the Generate Results process. The agency user can select the option to create Asset Management Transactions such as additions, retirements, and transfers. The agency user can review and approve the Asset Management Transactions before processing. Users may elect to delete the generated transactions from the Staging Table and enter the addition, retirement or transfer of items through the online process. |
12 | Delete Asset Extract Data | If the inventory is performed outside of Florida PALM, the Agency AM Asset Processor deletes versions of data extract that were generated in Florida PALM for previous physical inventory. Florida PALM retains the data extract of the most recent inventory, but all other extracts are available for deletion. If the inventory is performed within Florida PALM, a physical inventory data extract is not generated (nothing available for deletion). |
Demo Video
Mobile Inventory Demo Video: Click the image below to view a demonstration video on Mobile Inventory.
Accounting Events
Accounting events originate during transaction processing in the applicable source module. The accounting events impact the source module, Commitment Control ledgers, and the General ledger (Actuals).
- Source Module accounting entries require user input (I) of the primary line (i.e., expenditure, revenues) with an automated (A) system offsetting line (i.e., payable, receivable) during transaction entry. The source model transaction must pass Edit Check, Budget Check, and Cash Check (on applicable entries) prior to posting the transaction.
- The Run Budget Check (Commitment Control) process automatically affects balances in the appropriate budget ledger (i.e., appropriation, spendable cash) if the transaction passes the budget check process.
- After the transaction is posted in the source module, an automated system process summarizes and posts the entries in the General Ledger module to the Actuals Ledger.
The table below provides the most common accounting events applicable to this business process.
Acct Event ID | Accounting Event | Commitment Control Ledger(s) Impact | Source Module Accounting Entry | General Ledger (Actuals) Entry |
|---|---|---|---|---|
N/A |
Reports
Key Reports are displayed as icons with the Report Number on this Business Process. The table below provides the reports identified to be produced at a particular process step or is used to support the completion of a process step.
Report Number | Report RICEFW ID | Report Description | Report Source | Report Frequency | Audience |
|---|---|---|---|---|---|
R8 | AMR020 | Asset Physical Inventory Report – asset records in Florida PALM. The report can be used to identify assets not accounted for and asset records that require updates to locations, custodians, or conditions. | Data Warehouse | Periodic | Agency |
Interfaces
The table below provides the Interfaces identified on the Business Process.
Interface Number | Interface Description | Interface Frequency | Source | Target |
|---|---|---|---|---|
AMI004 | Outbound Asset Physical Inventory CSV File Extract - Outbound interface extract of asset physical information and Tag Number to agency business systems. | On Demand | Florida PALM | Agency Business Systems |
AMI008 | Inbound Asset Physical Inventory CSV Load - Inbound interface to load results of the asset physical inventory. | On Demand | Agency Business Systems | Florida PALM |
AMI009 | Outbound Asset Physical Inventory Scanner File Extract - Outbound interface extract of asset physical information and Tag Number to agency business systems. | On Demand | Florida PALM | Agency Business Systems |
AMI010 | Inbound Asset Physical Inventory Scanner File Load - Inbound interface to load results of the asset physical inventory. | On Demand | Florida PALM | Florida PALM |
Forms
The table below provides the forms identified on this Business Process.
Form Number | Form Description | Audience |
|---|---|---|
N/A |
Workflows
The table below provides the workflows identified on this Business Process.
Workflow Number | Workflow Description | Audience |
|---|---|---|
N/A |
Version History
Date | Revision Description |
|---|---|
02/01/2024 | Original Version |
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