Adding Assets

After you establish PeopleSoft Asset Management foundation tables, you can add assets. This section discusses the different ways to add assets. The approach that you use depends on the needs of your organization and how much information is available when the assets are added.

To add assets, you can:

• Use Express Add to add assets using an asset profile for default book and depreciation information.

  When assets are capitalized, most of the critical information is derived from the asset profile by default, and detailed physical information can be entered later.

• Use Basic Add when much of the physical information is readily available at the start.

  You can capitalize the asset immediately or later using the appropriate asset profile.

• Use Define Asset Operational Info to add nonfinancial assets.

• Use the Import Data via Spreadsheet component to enter asset transaction data offline using a spreadsheet application and then import the data into Asset Management tables.

• Use Excel to CI to add assets by uploading asset information from PeopleSoft's integrated Excel spreadsheet component interface.

  This process enables you to add multiple assets to generate PeopleSoft-formatted data from a predefined Excel asset template.

The PeopleSoft system enables asset receiving when you use PeopleSoft Purchasing, PeopleSoft Payables, or PeopleSoft Project Costing. You can initially add an asset with only its physical information and then capitalize the asset when you receive financial information from the invoice. Conversely, you can initially add the asset's financial information when you order it and then add the physical information once it is received; or you can enter all of the information at once.

You can also add assets through PeopleSoft Project Costing, along with all of the pertinent project information.

See PeopleSoft Project Costing: Setting Up and Using Express Capitalization.

PeopleSoft Asset Management allows you to use transaction currencies for multinational transactions. This enables you to maintain a base or local currency and conduct transactions with foreign entities by selecting a transaction currency for individual transactions. By establishing an exchange rate to convert the currencies, you can complete transactions in multiple currencies and convert them back to the base currency as needed.