Manual Asset Retirement

Asset retirement is a method of indicating that an asset is being removed from service. There are two kinds of retirement—partial and full. In partial retirement only a certain portion of the asset is retired. In full retirement the full value of the asset is retired. You can partially or fully retire assets that are managed in PeopleSoft Project Costing by using the Asset Retirement Integration Application Engine process (PC_RETIRE_AM).

Project Costing-managed project is a term that refers to a project that is managed by a project manager in PeopleSoft Project Costing, instead of with work orders in PeopleSoft Maintenance Management. You must use the manual asset retirement process to retire assets if PeopleSoft Maintenance Management is installed and the project is a Project Costing-managed project. You must also use the manual asset retirement process to retire assets if PeopleSoft Maintenance Management is not installed.

Retirement Process Flow - Project Costing-Managed Project Activities

The process flow for retiring assets for Project Costing-managed project activities is:

  1. Create a retirement project

    On the Asset Integration Rules page, select the Enable Integration option and an integration type of Retirement.

    Note:

    If a project has a retirement integration type, then all of the project's activities must also have a retirement integration type.

    You must select the Manual Identification option on the Asset Integration Rules page for projects and activities to be eligible for asset retirement.

  2. Accumulate transaction costs.

    Transactions with analysis types in the PC to AM Cost of Removal (AMCOR) and AM Proceeds from Sale (AMPFS) analysis groups are eligible for processing to PeopleSoft Asset Management.

  3. Assign transactions to assets.

    Use the Assign Transactions to Assets page for projects that have an asset identification rule of Manual Identification on the Asset Integration Rules page.

  4. Use the Asset Retirement page to run the Asset Retirement Integration process to:

    • Send the asset cost value, cost of removal, and proceeds from sale, to PeopleSoft Asset Management.

    • Update the AM Distribution Status field (AM_DISTRIB_STATUS) to D (distributed) in the Project Transaction table, indicating the transaction rows have been distributed to PeopleSoft Asset Management and cannot be updated in the Project Transaction table.

Note:

The Asset Retirement Integration process does not use the PC to AM Staging table. The transactions go directly to the PeopleSoft Asset Management Loader tables.