Adding Assets with the Asset ExpressAdd Component

Accum Depr in Current Pd (accumulated depreciation in current period)

Select to have the system book accumulated depreciation for the asset to the current period. Otherwise, accumulated depreciation is booked to the previous period. If that is the case, you may need to reopen the period.

Trans Date (transaction date) and Acctg Date (accounting date)

Typically, the transaction date represents the date that you actually acquired the asset and the accounting date represents the date that the transaction is posted to the general ledger. The accounting date is validated against the FIN_OPEN_PERIOD table to determine the period to which the transaction is posted. The difference between the transaction date and the accounting date determines if any prior period depreciation needs to be calculated. For example, suppose that a computer was acquired and placed in service on March 15, 2001, but the information was not entered in PeopleSoft Asset Management until August 1, 2001. All general ledger periods prior to August are closed. In this case, PeopleSoft Asset Management automatically calculates depreciation starting in March and posts it to the general ledger in August.

Location

Identify the asset location by selecting from a list of valid values. Identification of the asset location is required for managing hazardous material assets, which must often be monitored and reported on. This location is automatically populated with the ship from location for VAT-enabled business units.

Trans Code (transaction code)

Identify which accounting entry template is used for the asset, such as Abandoned, Inventory, or Scrapped. The system accepts only valid combinations of the category, cost type, transaction code, and transaction type for which accounting entry templates exist.

Currency and Rate Type

Select the currency and exchange rate type.

Cost Type

Break down portions of the asset cost, and enter as many cost types as needed for each transaction. For example, the costs of constructing a building are often broken down into categories reflecting the type of cost, such as material, labor, permits, and so on. Only valid cost types are accepted. The cost types are user-defined during the system implementation.

Salvage

Displays the salvage value that is calculated based on the option defined at the asset profile level (either flat amount or percentage). Salvage value is prorated based on a ChartField's cost if a flat amount is used, and it appears as a percentage of cost if the percentage option is selected.

Accum Depr (accumulated depreciation)

Enter the amount of depreciation already recognized. If you are adding assets that have depreciation from prior years or prior periods, enter that amount in this field.

YTD Depr (year to date depreciation)

If any portion of the accumulated depreciation amount applies to the current fiscal year, enter the amount of that portion.

Asset Type

Select a value to indicate a type of asset. The available options are:

Equipment

Facility

Fleet

Furniture

Hardware

Intangible

Machinery

Other

Property

Software

Asset Subtype

Select a value to indicate a subset of asset type. Subtypes are optionally user-defined and directly related to the asset type. Only asset subtypes of the selected asset type are available when defining the asset.

CAP # (capital acquisition plan number) and Seq # (sequence number)

The capital acquisition plan (CAP) number ties the asset to a CAP. Enter a valid number and sequence. You set up CAP numbers in the CAP table.

Threshold ID

This value defaults from the capitalization Threshold ID that is associated with the asset profile for a given asset. You can override the Threshold ID if needed. If no threshold was defined for the profile, you can select an asset based threshold ID. When adding an asset, the system uses the capitalization definition for the applicable Threshold ID to determine the appropriate capitalization action to take. Upon saving, the system compares the total cost of the line (cost x quantity) with the cost established for each bracket, as well as the basis option to decide the action to take.

This field is available for editing only when:

• the Capitalization Threshold feature is enabled from the Installation Options - Asset Management page

• the Threshold ID on the Depreciation Information page is unpopulated

• the business unit where the asset is added uses it

Serial ID

If applicable, enter the serial number for the asset.

Asset Class

This field is used to classify assets for reporting purposes. It can be used in combination with an asset category to refine asset classification. These fields can also be used for VAT purposes.

Asset Status

Indicate the status by selecting one of the following options:

• Budgeted: Asset is budgeted but not placed in service.

• Commitment: Budget has been approved and you are preparing to acquire the asset.

• Disposed: Asset is no longer in service.

• In Service: This is the date that the asset is available for use. The transaction date is the default.

• Received: Asset was received but is not yet placed in service.

• Requisitnd (requisitioned): Necessary paperwork has been completed for acquisition.

• Suspended. Depreciation has been suspended for this asset

• Transferred. This asset was transferred from another business unit.

• WIP (work in progress): Asset is acquired for a project under way.

FERC Code

Select a FERC code if it applies.

Acquisition Date and Acquisition Code

Enter the date the asset was acquired and select an acquisition code:

Construct, Donated, Leased, Like Exch, Purchased, Trade In, and Transfer

Collateral Asset

Japanese accounting principles require that assets offered as collateral be treated according to financial reporting regulations under the commercial law. If the asset is a collateral asset, select one of the available options that comply with Japanese requirements.

Parent/Child and Parent ID

If you are adding a parent or child asset, select the parent-child asset option that applies. The default is None. If this is a child asset, enter the parent asset ID with which to associate it.

Asset Retirement Obligations

Select to identify an asset that is subject to asset retirement obligation (ARO) treatment in accordance with Financial Accounting Standards for proper reporting and processing. This field appears only when you have enabled ARO on the Installation Options – Asset Management page and enabled ARO at the business unit level.

Hazardous Asset

Check if the asset qualifies as hazardous.

Taggable Asset

Check if the asset can be physically assigned a tag number.

Capitalized Asset

This check box is display-only, and the status is determined automatically by the asset profile.

Non capitalized assets have no cost or books and are not depreciated in Asset Management. Sometimes you need to track physical information only (such as location, physical specifications, number of units, and so forth), but you don't want information about the assets to appear in the general ledger.

Composite Asset

Check if the asset is a composite asset.

Set R and D Info (set research and development information)

Click this link to enter research and development information on the Asset R&D Information page. In Australia, this option is used for tax reporting purposes. Otherwise, this field is informational only.

External Funding Source

Click to access the External Funding Source Page and associate the asset with an external funding source.

Hazardous Code Info (hazardous code information)

Click on this link to go to the Hazardous Asset Codes page and select a hazardous code to identify with and associate to this asset.

Asset Retirement Obligations

Select to identify an asset that is subject to asset retirement obligation (ARO) treatment in accordance with Financial Accounting Standards for proper reporting and processing. This field appears only when you have enabled ARO on the Installation Options – Asset Management page and enabled ARO at the business unit level.