Page 1 of 5 HO/08/BR/IT/2015-16/170 20-02-2016 CIRULAR TO ALLBRANCHES, OFFICES AND DEPARTMRNTAL HEADS Dear Sir, Re:- Migration of Fixed Assets/Furniture & Fixture etc into FASSET Module in Finacle. Presently Branches maintain the manual records of every purchase, sale, write-off, transfer-in/out of fixed assets held by them. Also depreciation is applied annually with preparation of manual returns (6A & 6B) Further, with the new system of Depreciation/ life span of any asset as per our circular no HO/08/OPR/2015-16/44 dated 18-06-2015, it became necessary to introduce an Automated Method of calculating depreciation, preparation of Statutory Returns and maintenance of records of fixed asset through simple One-Step activity of making entry of fixed asset in Finacle at the time of Purchase/Sale/Transfer/Write of stock. Now, a new module FASSET has been included in Finacle which will take care of all above itself and it has been decided to Migrate record of all existing ‘Fixed Assets’ at branches/ROs in time bound manner: TIME – LINE Date Activities to be carried-out 26‐02‐2016 All Branches to prepare Fixed assets data (Item wise) as of 31-Dec-2015 (Tallied with G/L as on 31.12.15) with depreciation amount (Item wise tallied with GL as on 31-Mar- 2015) as per Annexure-II & III latest by 26-Feb-2016 Note- ROs will consolidate and check the accuracy of item wise details of branches 05‐03‐2016 Completion of Migration of fixed asset into Finacle (FASSET) 10‐03‐2016 Completion of Depreciation Computation by FASSET for December- 2015 for all branches with passing of necessary GL/PL entries (as computed by system) 15‐03‐2016 Completion of entry of all remaining stock (Fixed Asset/ Dead Stock – item wise) purchased/ transferred/ sold/ Written off by the branches/ROs from 1-Jan-2016 onward (including all pending entries) Finacle Menu Options Available 1. FASSET : For capturing Fixed Asset Data in Finacle 2. FADEPR : For Computation of Depreciation 3. FARPT : For Generating Reports from Finacle ISSUED BY IT DEPARTMENT H.O.
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HO/08/BR/IT/2015-16/170 20-02-2016
CIRULAR TO ALLBRANCHES, OFFICES AND DEPARTMRNTAL HEADS
Dear Sir,
Re:- Migration of Fixed Assets/Furniture & Fixture etc into FASSET Module in Finacle.
Presently Branches maintain the manual records of every purchase, sale, write-off, transfer-in/out of fixed assets held by them. Also depreciation is applied annually with preparation of manual returns (6A & 6B) Further, with the new system of Depreciation/ life span of any asset as per our circular no HO/08/OPR/2015-16/44 dated 18-06-2015, it became necessary to introduce an Automated Method of calculating depreciation, preparation of Statutory Returns and maintenance of records of fixed asset through simple One-Step activity of making entry of fixed asset in Finacle at the time of Purchase/Sale/Transfer/Write of stock. Now, a new module FASSET has been included in Finacle which will take care of all above itself and it has been decided to Migrate record of all existing ‘Fixed Assets’ at branches/ROs in time bound manner: TIME – LINE Date Activities to be carried-out
26‐02‐2016
All Branches to prepare Fixed assets data (Item wise) as of 31-Dec-2015 (Tallied with G/L as on 31.12.15) with depreciation amount (Item wise tallied with GL as on 31-Mar-2015) as per Annexure-II & III latest by 26-Feb-2016 Note- ROs will consolidate and check the accuracy of item wise details of branches
05‐03‐2016 Completion of Migration of fixed asset into Finacle (FASSET)
10‐03‐2016 Completion of Depreciation Computation by FASSET for December- 2015 for all branches with passing of necessary GL/PL entries (as computed by system)
15‐03‐2016
Completion of entry of all remaining stock (Fixed Asset/ Dead Stock – item wise) purchased/ transferred/ sold/ Written off by the branches/ROs from 1-Jan-2016 onward (including all pending entries)
Finacle Menu Options Available
1. FASSET : For capturing Fixed Asset Data in Finacle 2. FADEPR : For Computation of Depreciation 3. FARPT : For Generating Reports from Finacle
ISSUED BY IT DEPARTMENT H.O.
Page 2 of 5
Step by Step Activities
1. Pre-Migration Activity- i. ROs to form a “Team of 4-5 staff members” to get the accurate data prepared by
branches and to coordinate & complete the entire process of Migration to Fasset ii. Branches/ROs to prepare ‘Annexure-I & II as per set time line and RO team to ensure
accuracy of category wise/ Item wise data of branches (all tallied with GL) iii. Branches/offices have to bifurcate entire fixed Assets into seven categories as given
in ‘Annexure-I’ and Balances/Depreciation of all items bifurcated in these seven categories should be tallied with GL balances as on 31-12-2015.
iv. RO team to guide branches in line with the procedure explained to P&E staff during workshop held at Head Office.
v. RO Team to consolidate in EXCEL File all data provided by branches (Excel Format provided to ROs during workshop at HO)
2. Migration Activities a. Branches/ROs shall enter Item wise details of each and every items in FASSET in
appropriate category (as defined in Annex-II) b. Item wise entries will be made in FASSET for all those items for which GL entry
towards cost has been passed till 31.12.2015 with corresponding depreciation upto 31-Mar-2015 (actually applied) which means that items entered in GL from 01.04.15 to 31.12.15 will bear ‘ZERO’ depreciation to match with GL depreciation A/c.
c. Existing GL amount as on 31.12.15 (Cost & depreciation) will be redistributed into New Category wise GL Heads.
d. Head Office will run the depreciation computation through menu FADEPR in Finacle for arriving at actual depreciation as per extant guidelines. Necessary entries will be passed by branches for Difference in Depreciation amount (GL Dep as 31.12.15 & system Computed Dep. for the same date).
3. Post Migration activities- a. Branches / ROs will begin making Finacle entry of remaining Dead Stock items
Purchase/ Transferred/ Sold/ Written Off etc. after 31-Dec-2015 (i.e. 1st Jan 2016 onward) through Menu option FASSET.
b. RO Team will ensure that no such entry is pending 15th March 2016 at any branch. (Please refer to Annual Closing Circular dated 15.02.2016)
NOTE : IN VIEW OF IMPLEMENTATION OF FASSET MODULE, BRANCHES/ ROs SHOULD NOT PASS ANY MANUAL ENTRIES OF DEPRECIATION IN G/L FOR MARCH 2016. (A Job card for FASSET MODULE, provided by Data centre is also attached for user’s guidance.)
We advise all the Regional Heads to personally supervise the FASSET Migration Process and ensure that aforesaid Time-line is adhered to without fail.
TV SETS (LCD/LED TV) / CABLE & DISH TV EQUIPMENTOFF_EQP 5 TYPEWRITEROFF_EQP 5 ULTRA VOILET LAMPOFF_EQP 5 UPS SET WITH BATTERYOFF_EQP 5 UPS WITHOUT BATTERYOFF_EQP 5 VACUUM CLEANERSOFF_EQP 5 VIDEO CONFERENCE EQUIPMENTSOFF_EQP 5 WASHING MACHINEOFF_EQP 5 WATER FILTER/COOLERSDV 6 CASH SAFE ‐ LARGESDV 6 CASH SAFE EMBEDDINGSDV 6 CURRENCY BIN CABINETSDV 6 CURRENCY CHEST BINSSDV 6 GATE‐CHANNEL/ GRILL SDV 6 LOCKER ALMIRAHSDV 6 LOCKER CABINETSDV 6 SAFE DEPOSIT LOCKERSDV 6 STRONG ROOM /DOORVEH 7 CAR/JEEP/SUVVEH 7 CASH VANVEH 7 CYCLEVEH 7 MOTOR CYCLEVEH 7 VEHICLE OTHER/E‐RICKSHAW ETC.
Annexure II - ITEM WISE FURNITURE REPORT as on 31-12-2015 for Fixed Asset Data Migration to Finacle
Branch Name- SOL-ID Region -
S.N.
Category Name
Item Name
Date of purchase
Quantity
Original Purchase Cost*
Total Depreciation actually applied upto 31-03-2015 *
Net Value (WDV)
1 2 3 4 5 6 7 8(6-7)
2
3
Category Total 1
2
Catagory Total 1
2
Catagory Total 1
2
Catagory Total 1
2
Catagory Total Grand Total (A) G/L Balance o/s 31-12-2015 (B)
Difference of A & B should be ZERO
For fixed Assets entered in GL from 01-04-2015 onwards, depreciation will be applied on 31-03-2016.Hence Column” 7” for such entries will be ‘ZERO’ at present
Tallied with G/L Verified above Balances in Finacle
Signature Signature
Branch Manager Authorized Officer of R.O
Date- Name-
Designation
Annexure III–Summery of Furniture-Fixture (Data up to 31-12-2015)
FASSET DATA AS ON 31‐12‐2015
Branch Name‐
S.N SOL ID‐ TOTAL AMOUNT UP TO 31.12.2015 DEP. AMOUNT UP TO 31.12.2015
1 FURNITURE & FIXTURES
2 AC‐COOLERS
3 Safe Deposit, Vault
4 Computer New
5 Vehicles
6 Office‐Equipments
7 ATM
Total
* To be tallied with General Ledger Balances.
General Ledger Details
A/c Name A/c Number Outstanding Bal as on 31‐12‐2015 Outstanding Bal as on 31‐12‐2015
Dep Computer 56740015501013 xxx
Dep F/F 56740015501007 xxx
Depvehicle 56740015501011 xxx
Block computer 56740025101013 xxx
Block F/F 56740025101007 xxx
Block vehicle 56740025101011 xxx
Total
Difference New purchase after 31-12-2015
Tallied with G/L Reason for difference should be only due to purchase/sales/Transfer/Write -off after 31-12-2015)
Tallied with G/L Verifiedabove Balances in Finacle
Signature Signature
Branch Manager Authorized Officer
Date- Name-
Designation
FASSET Module in CBS
Approach Document & JOBCARD
RRB DC - CBS Operation Centre, UTI Tower, South Wing, 2nd
Floor, G-N Block
Bandra-Kurla Complex, Bandra (E), Mumbai-400051 Page 1 of 16
Presently the RRB branches maintain the records of all the fixed assets held by them, individually
and manually. The records of every purchase, sale, write-off, transfer-in/out under these
categories are being maintained by every branch and depreciation at different rates and methods,
based on the category, has to be calculated by them. Various registers such as Dead Stock Register,
Furniture & Fitting ledger etc. and proper record of depreciation provided on quarterly basis are
also to be maintained. There is a need felt by RRB to move from standalone to centralize the data
with centralized processing of depreciation computation based on the bank wise parameters.
To address these issues and automate the process of calculation of depreciation, maintaining
these registers and to generate all related returns, a module namely FASSET has been developed in
Finacle. Through this module the individual details of the total Fixed Assets of all the branches/
offices can be captured and using this data, depreciation calculation and generation of various
returns and registers can be automated. The module provides following options :-
1. Capturing of Entries – (Menu Option – FASSET)
A) Migration of existing entries as on a cut-off date (Sub Option – Migration)
B) New Entries / On-going entries post one time migration –