Tips:

Asset Management Dispose/Retire and Transfer Requests

Enter a request to Dispose/Retire or Transfer capital equipment using the Asset Self Service portlet.

Navigate to the Asset Self Service portlet

* If you cannot access NUPortal or appropriate tabs, go to http://www.northwestern.edu/equipment-inventory/

Hot Tip! Click the question markGraphic: Question Mark icon for more information wherever you see it!

Contents

Dispose/Retire Requests

In the Asset Self Service portlet or Create Asset Request:

  1. Select the radio button for Dispose/Retire an Asset.
  2. Click Next.

In the header, you will see that the request will have a unique sequential number assigned to it when saved.  The request will include your NetID as the submitter and the date of the submission.  Notice the request status and workflow status which are defined below in Request Workflow.

  1. Enter the Retirement Date.
  2. Identify the Asset.
    1. Enter Tag # OR Asset ID (make sure to include the leading zeros).
    2. Or click the magnifying glass Graphic: Maginfying glass icon to search by Asset ID, Tag #, Description, Serial #, or Department ID of the asset (Use % as a wildcard).

Note: If you are unable to identify the asset you are trying to dispose please contact the NU Property Accountant at equipment-disposal@northwestern.edu before proceeding. Please include any information you may have on the asset such as model number, serial number, purchasing information, etc.

Graphic: Asset retirement header.

Once you select the asset, additional information, as available, will display for review.  The Acquisition Details link will display the acquisition chart string and any federal contribution, as applicable.

  1. Select Method of Disposal.

Note: With each selection, as applicable, there may be additional information, attachments or sign-offs needed to complete the request and disposal.

Methods of Disposal:

    1. General: Use this method for capital equipment that no longer exists or is not in use but has not been traded-in, sold or donated. Examples include scrapped, stolen, destroyed, cannibalized, recycled and no longer functional capital equipment.
    2. Traded-in/Return: Assets that were traded in for different assets, returned to the vendor or manufacturer, or otherwise exchanged. Select applicable additional information.
    3. Sold: Assets that were sold and for which proceeds were received.  An acknowledgment that proceeds were received and applied to account 40650 and a link to the Bill of Sale form are required.
    4. Donated: Assets that were given to an external (non-NU) entity without proceeds. A link to the indemnification agreement form is included.

Note: For this example, Sold has been selected.

  1. Click the paper clip Graphic: Paper Clip icon to attach supporting documentation.
  2. Enter comments as applicable.
  3. Click Save & Submit.
  4. Option: Click Close to abandon the request or to close the window after submission.

Graphic: Method of Disposal and Additional information section

Once the request is submitted, the header displays the request number. (Requests beginning with an R are for Retire; requests beginning with a T are for Transfer.) 

Graphic: Confirmation of submittal

Graphic: sample Email Notification

Transfer Requests

In the Asset Self Service portlet or Create Asset Request:

  1. Select the radio button for Transfer an Asset.
  2. Click Next.

In the header, you will see that the request will have a unique sequential number assigned to it when saved.  The request will include your NetID as the submitter and the date of the submission.  Notice the request status and workflow status which are defined below in Request Workflow.

  1. Enter the Transfer Date.
  2. Identify the Asset.
    1. Enter Tag # OR Asset ID (make sure to include the leading zeros).
    2. Or click the magnifying glass Graphic: Magnifying glass icon to search by Asset ID, Tag #, Description, Serial #, or Department ID of asset (Use % as a wildcard).

Note: If you are unable to identify the asset you are trying to dispose please contact the NU Property Accountant at equipment-disposal@northwestern.edu before proceeding. Please include any information you may have on the asset such as model number, serial number, purchasing information, etc.

Graphic: Transfer An Asset Header

Once you select the asset additional information, as available, will display for review.  The Acquisition Details link will display the acquisition chart string and any federal contribution, as applicable.

Note: You may need to make updates to 1 or more of the following: Custodian, Department or Location.

  1. Enter the Custodian and New Department for the asset. Click the magnifying glass Graphic: Magnifying glass icon to lookup an employee NetID and department.
  2. Click to select the New Location of the asset.
    1. Jurisdiction means campus.
    2. Building # is the SIMS building numbering system.
    3. Sector is room number and most often 5 digits, thus, zeros may have been added at the front.

Note: The Current Location on file in NUFinancials is listed at right.

  1. Click paper clip Graphic: Paper clip icon to attach supporting documentation.
  2. Enter comments as applicable.

Note: For transfers of an asset purchased on a federal grant, enter the Project ID and PI name of the new grant/custodian (respectively) in Comments as a cross-reference for ASRSP.  If the asset is remaining on the same grant, but changing location, please state this in the comments for ASRSP.  If the asset is transferred off a grant to a department, please state this in the comments for ASRSP.

  1. Click Save & Submit.
  2. Option: Click Close to abandon the request or close the window after submission.

Graphic: Fields to update Custodian and location of the asset

Once the request is submitted, the header displays the request number. (Request numbers beginning with an R are for Retire; request numbers beginning with a T are for Transfer.) 

Graphic: Transfer Request submitted.

Graohic: Sample Email Notification

Request Workflow

As with many transactions in NUFinancials, asset requests move through a series of approvals before completion in the system.  In general, all requests will go to the Level 3 Department Approver(s) and then to the Asset Approver(s) in Accounting Services.  If an asset is part of a sponsored project, then ASRSP will be included in the workflow after the department approval.  There are system generated emails to notify individuals of pending requests as addition to an Asset Request row in the Approval Inbox on the NUPortal.  Approvers have the option to send back as request as needed and are required to enter a comment for this option.

Once all approvals have been completed the asset’s information is updated in NUFinancials and the request is complete.

Graphic: Sample Workflow for requests

Search for Asset Requests

You can search from the Asset Request Search portlet on the NUPortal or from NUFinancials.

Navigation form NUFinancials Main Menu: NU Interfaces and Processes > Assets Self Service > Search Asset Requests

You can search for previous requests to review their status and revised sent back requests, as needed.  You can search by Request ID, submission date, retire/transfer date, requested by ID, request type, request status, asset ID, Tag number or workflow status.

  1. Enter criteria.
  2. Click Search.
  3. Select row of request to review.

When sent back, requests may be edited and re-submitted for approval.  All other requests will be View Only.  You can hover over the NetID to get additional contact information.

Graphic: Sample Asset Request Search fields and results set

For more information, see Equipment Inventory.

Glossary of Asset Terms

Disposal/Retirement:  A retirement of an asset. Disposed equipment can be sold, stolen, traded-in, scrapped, donated, returned to vendor, destroyed, transferred out to an external entity, cannibalized, recycled, or posted on the surplus property.  For all methods of disposal a Capital Equipment Retirement Approval form must be completed and attached as support.  The form is located at: http://www.northwestern.edu/controller/accounting-services/equipment-inventory/docs/capital-equipment-retirement-approval-form.pdf  

Transfer:  The physical movement of an asset’s location from one NU location (building-floor-room) to another NU location (building-floor-room).

General: Use this method for capital equipment that no longer exists or is not in use but has not been traded-in, sold or donated. Examples include scrapped, stolen, destroyed, cannibalized, recycled and no longer functional capital equipment.

Traded-in/Return:  Assets that were traded in for different assets, returned to the vendor or manufacturer, or otherwise exchanged.

Sold:   Assets that were sold and for which proceeds were received.  (For a Bill of Sale or Invoice, the form is located at: http://www.northwestern.edu/controller/accounting-services/equipment-inventory/docs/bill_of_sale.pdf.)

Donated:  Assets that were given to an external (non-NU) entity without proceeds. (The form is located at: http://www.northwestern.edu/controller/accounting-services/equipment-inventory/docs/indemnification_agreement.pdf ).

Proceeds for Sale:   Monies received for the sale of an asset recorded by Cash Receipt Ticket (CRT).

Fair Market Value:   Estimate of the asset’s current value in the marketplace (eBay.com, book value, etc.).

SIMS Locations:   Space Information Management System (SIMS) is the record for identifying campus, building number, floor and room.