Asset Profiles

Asset profiles are templates that contain standard depreciation criteria for an asset type and its corresponding asset books. Profiles help reduce data entry and ensure consistency and accuracy when you add assets. You can use profile data as default values, and you can override any field that is in the asset profile when you enter assets into the system. You set up asset profiles in PeopleSoft Asset Management if you use that application. If you don't use PeopleSoft Asset Management, you must set up asset profiles in Project Costing before you can summarize transactions by profile or by asset.

You must set up at least one asset profile before any assets can be added to the system. Set up asset profiles to match most, if not all, of the major asset categories you track on the books. Asset profiles can range from standard categories, such as land or furniture and fixtures, to more detailed categories, such as computers, phones, and fax machines.

Each asset profile has a unique profile ID that the system uses to group profiles by type. For example, you can define automobile profiles as autos, autos-luxury, and autos-leased.