Setting Asset Status

If you use PeopleSoft Asset Management, follow these guidelines:

• For you to enter an asset as a line item for sale in an event, the strategic sourcing status for the asset must be Allowed to be Auctioned.

• Once you post the event, the asset management status changes to Sent to Auction.

• The status remains Sent to Auction until the event is awarded or canceled.

• Once the auction is awarded, the PeopleSoft Asset Management status changes to Sold in Auction.

If the event is not approved or awarded, set the event status to Canceled to change the asset management status from Sent to Auction back to Allowed to be Auctioned.