Proceeds from Sale and Cost of Removal
By using the Asset Retirement Integration process you can send the cost of removing an asset or the proceeds from selling an asset to PeopleSoft Asset Management at the time that you retire the asset, or after you retire the asset. Transactions are eligible for the retirement process if they are assigned to the asset on the Assign Transactions to Assets page, and the analysis type belongs to the PC to AM Cost of Removal (AMCOR) or AM Proceeds from Sale (AMPFS) analysis groups. Transactions with analysis types in the AMCOR analysis group post to PeopleSoft Asset Management as a transaction removal cost. Transactions with analysis types in the AMPFS analysis group post to PeopleSoft Asset Management as proceeds from sale.
To send costs for removing an asset or the proceeds from selling an asset to PeopleSoft Asset Management, assign transactions to the asset and use the Asset Retirement page to retire the asset. The asset's quantity and retirement quantity determine what proportion of the asset's cost is calculated as the retirement amount. For example, assume that the asset's quantity is 2 and you enter a value of 1 as the retirement quantity on the Asset Retirement page. The retirement quantity is 50 percent of the asset quantity, and the system uses this percentage to calculate the asset's retirement amount. If the cost is 500.00, the retirement amount is calculated as 50 percent of 500.00, which is 250.00. These calculations appear in the following table:
| Quantity | Retirement Quantity | Percentage | Cost | Retirement Amount |
|---|---|---|---|---|
|
2 |
1 |
50% |
500.00 |
250.00 |
You can also send the cost of removing an asset and the proceeds from selling an asset to PeopleSoft Asset Management after the asset is retired from PeopleSoft Project Costing. For example, assume that on January 1 you retire Asset 123 from PeopleSoft Project Costing with a cost value of 2,240.00, cost of removal of 5,435.00, and proceeds from sale of 1500.00. On January 2 through 6, transaction costs that are eligible for cost of removal accumulate in the Project Transaction table totaling 7500.00. You can assign the transactions to the asset and use the Asset Retirement page to send the transactions to PeopleSoft Asset Management.