Interunit Asset Transfers

In PeopleSoft Asset Management you can interunit transfer an asset from one business unit to create another asset in a different business unit. The transfer is recognized by the PeopleSoft Project Costing system if you subsequently try to adjust or retire the original asset in PeopleSoft Project Costing. In this situation the system detects the transfer, adds the new asset to PeopleSoft Project Costing, modifies the project to point to the new asset, and processes the adjustment or retirement on the new asset. The original asset is no longer available for you to adjust, retire, or relate it to a project.

For example, assume that Asset 1 was created from PeopleSoft Project Costing and sent to PeopleSoft Asset Management as Asset 1. Then Asset 1 was interunit transferred to create Asset 2. If you enter an adjustment for Asset 1 in PeopleSoft Project Costing, the system adds Asset 2 to Project Costing tables and applies the adjustment to Asset 2. In this example, you can no longer select Asset 1 to adjust or retire, and Asset 2 is eligible for asset capitalization and retirement processes.