Understanding Asset Processing
When the basic accounting structure and business units that reflect the organizational and reporting structure for your enterprise have been established, you will set up the various tables and options used to manage the assets within your organization.
Asset processing covers a wide array of activities, tasks, and transactions for your enterprise. This includes:
Identifying, classifying, and categorizing your assets.
Recording, tracking, and maintaining physical attributes, licenses and warranties, of assets.
Managing physical location, inventory, and custodianship of assets.
Establishing depreciation rules and reporting for assets.
Establishing financial, tax, and accounting treatment and reporting for assets.
PeopleSoft Asset Management is delivered with a full complement of commonly used and statutory asset management conventions. Many of these conventions likely suit the needs of your organization. If so, you can use tableset sharing to share these tables and minimize table setup tasks. Examine these tables before creating additional tables.
This topic discusses how to set up your system to enter, manage, and report on your assets.