Asset Reversals

You can reverse transaction rows that were incorrectly distributed to PeopleSoft Asset Management if the transactions are associated with projects that have an active processing status. For example, assume that cost data is sent to PeopleSoft Asset Management, after which you realize that an incorrect amount was used to capitalize the asset. The high level steps to reverse transaction rows are:

  1. Access the Review Assets page, search for the erroneous asset, and determine which summarized row contains the incorrect amount.

  2. Select the Reverse option on the Integration Summary page and run the process to send the reversal to PeopleSoft Asset Management.

You can view rows that are already distributed to PeopleSoft Asset Management in both summary and detail format, and reverse transactions as necessary. Reversing a row does not roll back to the original transaction, as doing so would not maintain an accurate audit trail. Instead, a reversal results in the creation of two additional rows—the reversing transaction that is sent to PeopleSoft Asset Management and a new, undistributed transaction in PeopleSoft Project Costing.

You cannot reverse asset transactions for projects with an inactive processing status. For this reason, on the Review Assets - Integration Summary page you can only view asset transactions for projects that are currently inactive. You cannot select or modify the review status of transactions for inactive projects. If an asset is associated with multiple projects and some of those projects are inactive, the rows that appear on the Review Assets - Integration Summary page are disabled (read-only) for the inactive projects and enabled for the active projects.

You cannot reverse temporary assets that have already been replaced by permanent assets. In other words, if you create temporary assets in PeopleSoft Asset Management by using the Summarize by Profile feature in PeopleSoft Project Costing, and subsequently create permanent assets by using the Summarize by Asset feature, you can no longer reverse the temporary assets.