This chapter provides an overview of adding and maintaining assets and discusses how to:
Add and maintain asset information.
Maintain asset meters.
Maintain warranties.
Maintain asset book information.
Add assets with the Asset ExpressAdd component.
Copy an asset.
View the component asset hierarchy.
Create parent-child asset relationships.
Calculate asset replacement costs.
Search for assets.
Print asset information.
Add assets with the Excel to Component Interface utility.
Asset Management stores the following types of asset information:
Financial information includes details about cost, books, depreciation method and convention, and useful life.
Physical information includes asset tag numbers, specifications, location, custodian, and manufacturer.
PeopleSoft provides the Asset Lifecycle Management (ALM) solution to provide complete access to the entire asset portfolio, regardless of asset class, and featuring visibility into total cost of ownership by enabling cost tracking associated with acquisition as well as lifetime maintenance and performance.
Working with other products within the ALM solution, including IT Asset Management, Maintenance Management and Real Estate Management, Asset Management provides functionality for the completeplan to retire business process, from the initial planning and acquisition of assets to the end-of-life disposal of assets.
Asset Management provides a common Asset Repository Manager (ARM), accessible to all ALM products and other PeopleSoft integrated products, which stores all asset data. The repository provides a single source for all physical, financial or operational asset data.
Adding Assets
After you establish Asset Management foundation tables, you can add assets. This section discusses the different ways to add assets. The approach that you use depends on the needs of your organization and how much information is available when the assets are added.
To add assets, you can:
Use Express Add to add assets using an asset profile for default book and depreciation information.
When assets are capitalized, most of the critical information is derived from the asset profile by default, and detailed physical information can be entered later.
Use Basic Add when much of the physical information is readily available at the start. You can capitalize the asset immediately or later using the appropriate asset profile.
Use Excel to CI to add assets by uploading asset information from PeopleSoft's integrated Excel spreadsheet component interface. This process enables you to add multiple assets to generate PeopleSoft-formatted data from a predefined Excel asset template.
The PeopleSoft system enables asset receiving when you use Purchasing or Payables. You can initially add an asset with only its physical information and then capitalize the asset when you receive financial information from the invoice. Conversely, you can initially add the asset's financial information when you order it and then add the physical information once it is received; or you can enter all the information at once.
Asset Management enables you to use transaction currencies for multinational transactions. This allows you to maintain a base or local currency and conduct transactions with foreign entities by selecting a transaction currency for individual transactions. By establishing an exchange rate to convert the currencies, you can complete transactions in multiple currencies and convert them back to the base currency as needed.
Document Sequencing
Statutory requirements in some countries require that all financial transactions (documents) be classified into different transaction types, and that within each transaction type, all documents entered be numbered sequentially. The document sequencing feature helps you maintain established business practices by meeting both of these requirements.
Document sequencing is available for transactions that you create either online or through background (batch) processing. When you activate document sequencing, the system automatically assigns a sequence number to each document (invoice, voucher, journal, and so on) that you create. You can also enter sequence numbers manually. When you delete, change, or unpost a document, the system may generate additional document sequence numbers, as appropriate.
The document sequence page (AM_DOC_SEQ) is used throughout the Asset Management application where a financial transaction occurs: Express Add, Basic Add, Cost Transfer/Adjust, Leases, Copy Assets, Adjust Accumulated Depreciation, Update/Delete Pending Transactions, Impairment, and Retirement. Each page displays a document sequencing tab for the entry and allows you view, enter or override document sequence information.
See Defining Document Sequencing.
Component Changeout
When you integrate Asset Management with Maintenance Management, component changeout functionality, (or swapping of older or broken components for newer replacement components), is enabled. The component changeout feature enables you to manage asset component swapping when failure or replacement is required to maintain an asset. A component is replaced with a “like-component” and the characteristics and attributes of the new component are associated with the overall larger asset. A component can be removed from one asset and marked for reuse in another asset. A component can also be served by parts and asset management enables you to maintain an equipment parts list and associate it with an asset.
The asset repository manages the complete set up for component changeout functionality with predefined defaulting component hierarchy, and makes this information available to the work order operator to facilitate completion of the tasks associated with component changeout transactions.
The component changeout transaction installs, replaces, removes and disposes component assets within the Asset Repository. . The process allows asset transfer and disposal transactions which are then passed to Asset Management via the Transaction Loader process.
When the option to remove assets for reuse is selected, you map the ChartField accounts to be used for the transfer by entering the information on the Warehouse Mapping page via Transaction Loader. When the option to replace assets is selected, the transferred assets are updated with new “replacement” asset information via the Transaction Loader.
Meters and Warranties
Some assets are delivered with warranties or other maintenance contracts associated wit them. As well, some assets may be insured where replacement of parts or service is covered under the insurance contract. Asset Management enables you to establish warranties, insurance
Some assets make use of meters to track usage for maintenance or billing purposes. Asset Management provides meter types and meter reading pages to monitor asset usage for these purposes.
See Managing Asset Maintenance, Repair, Warranties, and Insurance.
This section discusses how to:
Add asset basic information.
Enter asset details.
Enter asset acquisition details.
View asset tax information.
Enter document sequencing information.
Enter asset location, comments and attributes information.
Enter custodial, license, and manufacturer information.
Enter property assets.
Enter property taxes.
Access the Asset Information 1 page.
Unit |
Displays the business unit in which the asset is defined. |
Asset ID |
Select the default Next to have the system automatically assign the next available number. You can also enter an alphanumeric value of your own. Note. When entering joint venture assets that are shared among several business units, it is recommended that you assign a unique asset ID. This ensures that the assets created at the participant level all have the same ID as the assets created at the joint venture business unit level. For example, you might use the prefix JV, which would generate an asset ID such as JV000022. |
Tag |
Displays the tag number for assets already entered. |
Asset Status |
Displays of the current status of the asset, such as In Service. |
Description and Short Description |
Enter identifying and descriptive information about the asset. The Short Description can be an abbreviated description. |
CAP # (capital acquisition plan number) and Seq # (sequence number) |
Enter a CAP #(capital acquisition plan number) and associated sequence number, if applicable. The CAP # ties the asset to a Capital Acquisition Plan. Only valid numbers set up in the Capital Acquisition Plan table are accepted. The sequence number defines the detailed elements of the capital acquisition plan. |
Taggable Asset and Tag Number |
If you use tags to track assets, enter the Tag Number assigned to the asset. This automatically selects the Taggable Asset check box. Asset Management performs physical inventory using the asset tag number. If the business unit for this asset is set up to allow a default tag number based on the Asset ID, the default tag number appears here. Note. You must use tag numbers to perform physical inventory with the Asset Management physical inventory application. |
Asset Class |
If you use classifications to define assets within categories, enter the Asset Class code here. The Asset Class enables you to identify assets for reporting purposes. The asset class is also used as a VAT driver. |
Asset Type |
Select a value to indicate a type of asset. The available options are: Equipment Facility Fleet Furniture Hardware Intangible Machinery Other Property Software |
Asset Subtype |
Select a value to indicate a subset of asset type. Subtypes are optionally user-defined and directly related to the Asset Type. Only asset subtypes of the selected asset type are available when defining the asset. |
Asset Status |
Select the appropriate Asset Status from the following options:
|
Acquisition Date |
Enter the date when the asset was acquired. This field is automatically populated if the asset was added from a feeder system, such as Purchasing or Payables. |
In Service Dt |
Enter the date the asset was placed in service. |
(JPN) Collateral Asset |
Japanese accounting principles require that assets offered as collateral be treated according to financial reporting regulations under the commercial law. If this asset is such a collateral asset, select one of the available options that comply with Japanese requirements. See (JPN) Using Asset Management Options to Meet Japanese Requirements. |
Acquisition Code |
The Acquisition Code indicates how you acquired the asset. Select one of the following options:
|
FERC Code(Federal Energy Regulatory Commission code) |
The FERC Code is used to identify depreciation according to FERC guidelines. This field is used in the U.S., usually to identify group assets, such as telephone poles, highway signs, or other assets used in mass quantities. |
Financing Code |
Enter the code as you have defined it. Financing codes enable you to analyze debit and credit relationships for capital-intensive and government projects. |
Replacement Cost |
Indicates how much it would cost to replace the asset. When the asset is added to the database, the replacement cost is equal to the total base cost of the asset by default. The replacement cost can be derived by associating the asset to a cost index, such as the consumer price index (CPI) or inflation index. The association of the replacement cost index can be applied by default from the asset profile; the replacement cost is then calculated considering the base cost and the index amounts. The result is displayed here. |
Last Update |
If you are calculating the replacement cost using an index, the date that you performed the last update appears here. When the asset is added, this date the accounting date. |
Index Name andSubindex Name |
Enter the adjustment of the replacement cost using an index, such as the consumer price index. When you calculate the replacement cost, the original replacement cost is adjusted by the index and subindex that you specify. Enter valid codes. These are established on the Indexes page during implementation. |
Parent/Child and Parent ID |
For a parent or child asset, select the appropriate option in the Parent/Child field. If it is a child asset, enter the parent ID with which it is associated. The default is None. Parent and child assets cannot also be composite or group assets. |
Profile ID |
Enter a profile ID. Asset profiles are set up in the Asset Profile component. |
(JPN) Reporting Life |
Enter the reporting life for Japanese composite assets. This life is used for calculating average life of the Composite Asset |
Set R and D Info (set research and development information) |
Click to access the Asset R&D Information page, where you can enter identifying information for the asset. |
(JPN) Local Tax Information |
Click to access the Local Tax Return page. See (JPN) Using Asset Management Options to Meet Japanese Requirements. |
Asset Warehouse Mapping |
Click to access the Warehouse Mapping page. |
Auction Status |
Displays the status of an asset that has been submitted to Strategic Sourcing for auction. |
Region Code |
Select a region to categorize property assets by regions. Used for reporting. |
Capitalized Asset |
Indicates whether the asset has been capitalized. This check box is display-only. |
New Asset |
Select if this is a new asset. |
Available For Use |
Select if the asset is available to be used. |
Composite Asset and Composite Asset ID |
Composite asset processing enables you to group assets so that their total cost is carried by one asset and depreciated that way. By selecting this option, you indicate that this single asset is a composite asset, and associated assets are known as composite members. This feature is frequently used by utility companies, and it meets the requirements to use the Japanese Composite Depreciation Method. When you select the Composite Assetcheck box on the Asset Information page, an Asset ID field appears. Associate the composite member by selecting the asset ID of a composite asset. |
(AUS) Schedule Type Code |
If this is an Australian business unit, select a schedule type code. |
(AUS) Calculate Last Date of Review |
Click to generate the last date of mandatory review for the asset. Note. You cannot access the Schedule Type Code field, the Calculate Last Date of Review button or the Last Date of Mandatory Review field if the last date of mandatory review has already been calculated, unless you are in correction mode. |
(AUS) Last Review DT |
Displays the last date of mandatory review for the asset. The last date of mandatory review is stored at the asset level. See (AUS) Using Asset Management Options to Meet Australian Requirements. |
Book Page |
Click to save the component and access the Book (ASSET_BOOK_01) page. |
Access the Asset R&D Information page.
Asset Management enables you to identify assets for the purpose of calculating research and development deductions.
R and D Plant (research and development plant) |
Select to identify the asset as specifically allocated for research and development. |
R and D Start Date (research and development start date) |
Enter the start date for the asset. |
Use NBV (use net book value) |
Select to use net book value for your tax reporting purposes. Click the OK button to return to the Asset Information page. |
See (AUS) Using Asset Management Options to Meet Australian Requirements.
(JPN) Creating a Local Tax Return
Access the Local Tax Return page.
Asset Management enables you to calculate and run reports as required by Japanese local tax laws, including all required information for the local depreciable asset tax return. When the Localization Country field in Overall preferences is set to Japan,the Establish Business Units component for Asset Management includes the Business Unit Info for Japan page. If you select Use JPN Local Tax on this page, you enable access to the Local Tax Return page from the Asset Information page.
Complete the fields as necessary to generate the Japanese local tax return.
See (JPN) Using Asset Management Options to Meet Japanese Requirements.
Using Asset Warehouse Mapping
Access the Warehouse Mapping page.
Default Mapping from Asset |
Select to apply the asset ChartFields, location and custodian from the asset ID. The option displays as not selected (unchecked) by default. If the option is not selected, the system will use the ChartFields mapped at the business unit level. |
Operating Unit, Fund Code, Department, Program Code, Class Field, Budget Reference, Product, Project |
Displays the ChartField account codes to be used for the transferred component (asset). Only the active ChartFields for your system display. |
Location Code |
Select the Location Code where the replaced or transferred asset will be physically stored. |
Custodian |
Select the custodian or physical “owner” of the asset. |
EmplID |
Enter the employee ID assigned to the asset. |
Access the Asset Information 2 page.
Asset Structure
This section discusses how to define the asset structure. Assets may be catalogued as assets of a certain type, with sequential subtypes, assets that are components of a higher level asset, or clustered assets, multiple assets that combine to establish a whole asset.
Asset Type |
Select the asset type for this asset from a list of valid definitions. |
Asset Subtype |
Select the asset subtype to this asset type. Only asset subtypes that are valid for the asset type selected are available. Only one asset subtype can be applied to an asset type. |
Component Of |
Enter the Asset ID that this asset is a component of. |
Begin Date |
Enter the date. |
Clustered Asset |
Select to indicate that the asset is part of a larger entity or cluster. A clustered asset is similar to a group asset. This field is used for reporting purposes only. |
Work Order Options for Components |
Go to the Work Order Options for Components page to define options for work orders. |
Manufacturer Information
This section provides information to define asset manufacturer information.
Serial ID |
Enter the asset serial number ID, if available. Serial ID is required for asset type hardware. |
Mfg ID |
Enter the asset manufacturing ID, if available. |
Model |
Enter the asset model information or ID, if available. |
Version |
Enter the asset version information or ID, if available. |
More Manufacturer Info |
Select this link to go to the Asset Manufacture/License/Custodian (ASSET_CUSTODIAN) page. |
Asset Resource Information
This section provides information to define the asset as a resource.
Schedulable |
Select if the asset can be scheduled by users. For example, a crane extension can be used on multiple cranes at multiple project sites. It may require separate inspections and certifications from the crane. It could be used to replace a similar extension in use on another crane that must be taken out of service for repairs or inspection. And since it can be used on more than one crane, it may be considered a schedulable asset. Only schedulable assets can be checked out using the asset checkout feature. |
Allow Overbooking |
Select if the asset schedule of the asset can be overbooked. |
Use As Tool |
Select if the asset is used as a tool in another event. |
Charge Back |
Select if the asset can be charged back to a department, operating unit, project or other cost expensing entity. |
WO Unit |
Enter the associated work order business unit accessing the asset. This option is available if Maintenance Management is installed. |
Shop |
This option is available if Maintenance Management is installed. It is used for defaulting the location where the asset needs to be worked on during repair. |
Maintenance Information
This section provides maintenance information about the assets.
Repairable |
Select if the asset can be repaired as needed. |
Repair Status |
Select a repair status of the asset. This field is available when the Repairable option is selected. Needs Repair, In Repair, and None. Repair status can be updated from Maintenance Management if the Repairableoption is selected. |
Parts List |
Select a corresponding equipment parts lists (EPL) established for this asset. |
WO Location |
Select the Work Order location for the asset. The available options are user defined. This location designates where the repair will take place. The values are user-defined. |
Criticality |
Designate the level of criticality for the asset. (The field is informational only.) |
Offline |
Designate whether the asset is available or offline. (The field is informational only.) |
Other Information
Hazardous Asset |
Select if the asset is considered a predominant or significant hazardous material. Note. The federal government of the United States defines hazardous materials and waste to include: “Solid, liquid, or gaseous waste, or combination of these wastes, which because of its quantity, concentration or physical, chemical, or infectious characteristics may cause significantly to an increase in mortality or an increase in serious irreversible or incapacitating illness or pose a substantial present or potential hazard to human health or the environment when improperly treated, stored, transported, disposed of, or otherwise managed.” |
Hazardous Code Info (hazardous code information) |
Click to access the Hazardous Code Information page, where you can indicate hazardous material information by selecting assigned codes. The PeopleSoft system is delivered with the U.S. Federal Supply Class (FSC) codes, or you can select from codes that are created during implementation to suit your specific needs. |
Non-Owned Asset |
Check if this asset is not owned. |
Replacement Assetand Asset ID |
Select if this is a replacement asset. When an asset (or asset component) has been replaced by another in Maintenance Management, this field automatically displays the associated new asset ID. Note. The asset ID displayed here shows the replaced asset ID. The new asset that replaced this asset has a new asset ID on the Asset Information 1 page. |
Asset is Available, Contact, and Phone # |
Select and complete contact information if the asset is available for reassignment to another custodian. |
IT Asset Related Information
This section discusses how to define IT asset related information.
IP Address |
Enter the IP address. |
Using Work Order Options for Components
Access the Work Order Management page.
This page defines the transfer include and exclude rules for components swapped out and is available when Maintenance Management is installed. It is also available on the business unit, asset type and subtype pages. You can define the rules at this level as an exception. If the Default Rules check box is not selected, the options are grayed out as the options will be taken from other levels unless the user specifically check the option to use it at asset level.
Default Rules from Asset |
Check to enable rules from asset. If you leave this check box unchecked, the system will take the default from a higher level and the other two fields will be grayed out. |
Retire Assets Components |
Select to allow asset subcomponent disposal when the asset component is retired. |
Transfer Out Asset Components for Reuse |
Select to allow transfer of subcomponents when the asset component is transferred. |
Asset Warehouse Mapping |
Click to view the Warehouse Mapping page. |
Access the Hazardous Asset Codes page.
When an asset is defined as hazardous, describe it by selecting at least one hazardous code from the list. This feature supports U.S. FSC codes, which are delivered with Asset Management. When you mark an asset as hazardous and associate a descriptive code with it, you can also provide additional information about its location and custodian and other pertinent data (in the Basic Add component). You can use this information to generate a report to monitor or track hazardous assets.
Hazardous Code |
Select a code number. |
Hazardous Type and Items Contained |
These fields display the values contained in the definition for the code from the Hazardous Codes table established at implementation. |
Access the Asset Acquisition Detail page.
Use the Asset Acquisition Detail page to enter costs before they have been approved for capitalization. Once they are approved, you can then capitalize them. The total capitalizable costs entered here appear by default in the Capitalize Information collapsible section.
Enter the following information for each acquisition detail line:
System Source |
Enter the source system from which the acquisition detail was derived for Asset Management. The system source that you enter must be valid in the PeopleSoft Financials and Distribution Source table, and is typically Purchasing (PO), Payables (AP), or Project Costing (PC). |
Incentive ID |
Investment incentives are derived from Project Costing. You can override amounts from Project Costing . |
Capitalize |
Indicates whether this cost row has been capitalized. If it hasn’t already been capitalized, you can assign it a status of To be Capitalized or Never Capitalize. Asset Management enables you to associate books with noncapitalized assets with the Never Capitalize status. Based on the option that you select, either the Capitalization Information section or the Non Capitalization Information section appears on the page. |
Interfaces Info |
Click to access a separate page where you can enter acquisition details information. |
Acquisition Details Chartfields |
Click to access a separate page for storing ChartField information. Enter the operating unit, department, product, and project ID that you want to associate with the acquisition detail line. |
Capitalization Information and Non Capitalization Information
Use the Capitalization Information section to capitalize assets using the book information provided by the asset profile. Enter cost information into asset books.
Use the Non Capitalization section to add non-capitalized costs associated with an asset at book level.
Local tax legislation may require capital gains tax in relation to the disposal of assets. Non-capitalized costs may need to be included in resultant capital gain (or loss) calculations.
Profile ID |
Identifies a profile that is set up in the Asset Profile table. The current asset automatically displays all financial and tax depreciation information defined in that profile. You must enter a profile ID for each asset that you capitalize. |
Accum Depr in Current Pd (accumulated depreciation in current period) |
Select and add accumulated depreciation for the asset to be booked to the current period. Otherwise, accumulated depreciation is booked to the previous period. This check box appears only if you are capitalizing an asset. |
Transaction Date and Accounting Date |
By default, these fields display the current date or the dates specified as user defaults. Transactions in Asset Management are entered after they have occurred. The Transaction Date field reflects the accrual date that the event took place, while Accounting Date field reflects when it was booked or sent to accounting in the system. The transaction date must be earlier than or equal to the accounting date. For capitalized assets, note that any difference between accounting and transaction dates affects depreciation as well as posting or booking. |
Transaction Code |
Identifies which accounting entry template is used for the asset. The system accepts only a valid combination of asset category, transaction code, cost type, and transaction type for which accounting entry templates exist. |
Capitalize |
Click to capitalize the asset and add cost rows for all books in the profile ID. The cost rows that appear by default equal the total of all capitalizable acquisition detail rows. You can change this amount. |
Non-Capitalize |
Select to add rows for all books in the profile ID. The cost rows that appear by default equal the total of all noncapitalizable acquisition detail rows. |
Amount left to be Capitalized |
After capitalization, all capitalizable cost rows on the Asset Acquisition Detail page are marked as capitalized. Therefore, the amount left to be capitalized is 0 until you add more capitalizable cost rows to the Asset Acquisition Detail page. |
Amount left to be Non-Capitalized |
After capitalization, all non-capitalizable cost rows on the Asset Acquisition Detail page are marked as non-capitalized. Therefore, the amount left to be non-capitalized is 0 until you add more non-capitalizable cost rows to the Asset Acquisition Detail page. |
Accum Depr (accumulated depreciation) |
For capitalized assets, enter the amount of depreciation already recognized. If you are adding assets that have depreciation from prior years or prior periods, enter that amount in this field. |
Note. As long as all acquisition detail lines are for the same set of ChartFields (Product, Project, Department) and for the same category and cost type, you can enter them all at once and capitalize them later by clicking the Capitalize button. However, if you enter acquisition detail lines for more than one set of ChartFields and for more than one category and cost type, you must enter and capitalize the acquisition detail lines for each set of ChartFields and for each category and cost type separately.
See Also
Enter tax information for the asset.
Note. This information is optional except where VAT is applied. The system only validates the tax amounts entered; it does not store them.
See Also
Access the Doc Sequencing page.
Document sequencing is enabled at the general ledger business unit level. Rows are editable or not depending upon the Keep Ledgers in Sync option defined at ledger group level. If it is enabled, then only the primary ledger is editable; if it is not enabled, all the books that post entries to GL are editable.
See Also
Access the Location/Comments/Attributes page.
Record an asset's location and physical properties (such as color, height, weight) and enter comments about it, and associate user-defined custom attributes.. You can also use this page to attach and view a stored image of the asset.
Access the Manufacture/License/Custodian page.
Record custodial information, maintain license information, and keep track of manufacturer-related information.
Access the Property Assets page.
Property Information
Property ID |
The property asset ID is displayed after the record is saved. |
Property Class |
Select the property class from the available options. PeopleSoft delivers the following hierarchy of property classes: Site Building Floor Area Space |
Property Subclass |
Select the property subclass from the available user-defined options, if any. |
Property NameandDescription |
Enter the property name and descriptions. If these are entered on the Asset Information 1 page, they will follow to this page. |
Hierarchy
Parent Property |
Select the parent property ID. Only the property asset IDs within this business unit are available. |
Site ID |
Enter the site property ID. |
Building ID |
Enter the building property ID. The field is available when the site property ID has been populated. The system performs an edit to check that higher level hierarchical fields are populated. |
Floor ID |
Enter the floor property ID. The field is available when the site property ID and the building property ID have been populated. The system performs an edit to check that higher level hierarchical fields are populated. |
Area ID |
Enter the area property ID. The field is available when the site property ID, building property ID, and floor property ID have been populated. The system performs an edit to check that higher level hierarchical fields are populated. |
Note. The last hierarchical definition for a property is Space. The space property ID is the same as the Property ID and is not displayed at this level.
Attributes
Total Area |
Enter the total measurement of the area of the property. |
Unit of Measure |
Enter the unit of measure for the total area. If this field if grayed out, the unit of measure is populated by default from the information selected when the asset was entered. |
Occupancy |
Select the occupancy status of the property from the available values: Occupied or Vacant. |
Current Occupancy |
Enter the current number of occupants for the property. |
Ownership |
Select the ownership status of the property from the available options: Owned or Leased. |
Maximum Occupancy |
Enter the maximum number of occupants for the property. This may be a legal definition. |
When no hierarchy is established, the default values for Unit of Measure is Feet, for Occupancy, Occupied, and for Ownership is Owned.
When a parent property ID is established, then Unit if Measure, Occupancy and Ownership values are inherited from the parent property.
When the parent property ID changes, however, only the Unit of Measure is inherited from the parent. This is because ownership and occupancy values do not usually change from parent to parent asset. For example, if Property A is leased but the parent ID changes, the property does not change ownership. It is still leased. Likewise, if a parent property changes, it does not automatically change from occupied to vacant.
Note. If you have defined custom attributes on the Asset Attributes page to be associated with an asset, the asset attributes will display with a unit of measure field. You may select the appropriate attributes from your user-defined attributes for this property as needed.
Description
This section is available only if the asset is a property defined as a Site or Building.
Parcel Number |
Enter the parcel number, usually provided within the grant or deed of trust. |
Lot Number |
Enter the lot number, usually provided within the grant or deed of trust. |
Block Number |
Enter the block number, usually provided within the grant or deed of trust. |
Legal Description |
Enter the legal description, usually provided within the grant or deed of trust. |
Access the Record Property Taxes page.
If the asset property is defined as Site or Building, the Enter Property Taxes link is available from the Asset Property page. Click on the link to display the Record Property Taxes page where informational data can be entered for taxes applicable to the property.
This section provides an overview of using asset meters and discusses how to maintain asset meters.
Meters associated with assets are used to monitor asset usage and can trigger maintenance tasks based on the statistical units, such as mileage, measured by the meter. For example, a common asset meter is the odometer installed in a company vehicle that measures the number of miles the vehicle has traveled. For this type of asset, it is common for certain maintenance activities to be performed on it based on the number of miles traveled by the vehicle since the last maintenance event.
A less common, but familiar application, involves public utilities. State and local agencies use asset monitoring devices such as a water or electric meters attached to a home or commercial entity to measure the amount of water or electricity consumed by the entity. The units consumed are measured on a routine basis and the occupant is usually billed for the units consumed. The maintenance events associated with these types of meters may not have anything to do with the number of units measured since the meter was last read and other maintenance plans will have to be affected.
PeopleSoft uses meters to both measure asset usage and to trigger preventive maintenance tasks. Asset meter activities are performed within Asset Management and Maintenance Management applications. To enable meters, you must first define asset meter types. The meter types are associated with specific asset IDs.
Page Name |
Object Name |
Navigation |
Usage |
Asset Meters |
ASSET_METER |
Asset Management, Service and Maintenance, Asset Meter Information, Establish Meter Reading, Asset Meters |
Define asset meter by assigning meter types and associate the meter to assets. |
Enter Meter Readings |
AM_METER_READ1 |
Asset Management, Service and Maintenance, Asset Meter Information, Enter Meter Readings |
Enter meter readings for an asset. |
Prior Reading |
AM_METER_READ2 |
Asset Management, Service and Maintenance, Asset Meter Information, Enter Meter Readings, Prior Reading |
Enter prior meter reading information. |
Update Meter Readings |
AM_MTR_RD_UPD |
Asset Management, Service and Maintenance, Asset Meter Information, Update Meter Readings |
You can use the update Meter Readings page to correct prior meter readings. |
Meter Reading Comments |
AM_MTR_RD_CMT |
Click on the Comment link from the Update Meter Readings page. |
Enter comments relevant to meter reading updates. |
Meter Reading History |
AM_MTR_RD_HIS |
Asset Management, Service and Maintenance, Asset Meter Information, Meter Reading History |
View meter reading history for an asset. |
Meter Reading Details |
AM_MTR_RD_HID |
Click on the Details link from the Meter Reading History page. |
View details about the meter reading history for an asset including the date/time, source operator ID and daily average. |
Access the Asset Meters page.
Meter Type |
Select the meter type to be associated to this asset. |
Copy to Comp.(copy to component) |
Check if this meter should also be associated to any asset components associated with this asset (optional). This enables the component asset to use the same meter reading variations entered for its higher-level component assets. The meter reading inheritance rules are as follows:
|
Est. Daily Avg.(estimated daily average) |
Displays the estimated average based on the actual readings taken when the number of readings specified to calculate the daily average has not been reached. The field is available when the meter type is enabled to maintain daily average. Estimated daily average is always a positive value. |
Override Avg.(override average) |
Select to override the actual daily average. The field is available when the meter type is enabled to override the actual daily average. |
Act. Daily Avg.(actual daily average) |
Displays the system calculated actual daily average. It can be zero or greater than zero. You can edit the value if the Override Avg. option is selected, but a new average is calculated when a new meter reading is entered. The field is available when Maintain Average option is enabled for the meter type. |
Access the Enter Meter Readings page.
Select the edit icon to activate entries for that row. Enter current reading information in the work area.
Date, Time |
Enter the date and time of the meter reading. The system current date and time displays by default. |
Meter Type |
(Required) Select a valid meter type for this asset ID. Valid meter types are those that are associated with the asset and active. |
Reading and Variation |
(Required) Record the current meter reading. Enter either the actual reading or variation from the last reading. If you had a reading of 12,000 km for an odometer and now you have 12,450 km, you can enter 450 in the variation field or 12,450 km in the Reading field above. The system automatically calculates the value for one field based on the entry made to the other field. The variation is used for the Copy to Components function. Variation is validated so that the reading does not fall outside the Low and High limits established for the meter when the Reading field is automatically calculated. Variation and Reading fields are both required when you have selected the Replaced option. |
Rollover |
Check this option if rollover is enabled AND should only be selected when the meter surpasses the upper limit. When selected, the meter resets to zero on the Assets Meter page once this reading is saved. When the meter passes its established upper limit and begins a new cycle, the system keeps track of the accumulated usage. This applies only to increasing and decreasing meter types that also have enabled the Allow Rollover option. |
Replaced |
Select this option when the meter tool has been replaced. Both the Reading and Variation fields must be completed in this instance. This enables the system to calculate the total accumulated reading for the selected Meter Type. In the Reading field, enter the Actual Reading measured in terms of the new meter. In the Variation field, enter the difference between the last reading and the new one. These entries will be the basis to recalculate the accumulated meter reading when the page is saved. |
Accum. Reading (accumulated reading) |
The last accumulated reading displays. If the Replaced option is selected, or if this is the first reading of the asset, this field is enabled for edit. Enter the new accumulated reading or complete the Reading and Variations fields to recalculate accumulated reading. |
UOM (units of measure) |
Displays the units of measure for this type of meter. |
The following validations occur when the page is saved:
The meter type entered cannot be duplicated for the same date and time or the system generates an error message.
The reading/variation field must be completed or the system generates an error message.
The accumulated reading or variation and the reading fields must be completed when the replaced option is selected or the system generates an error message.
Readings must fall into the lower and upper limit range established at the meter type definition level or the system generates an error message.
If the meter type is increasing or decreasing and the user enters a lower or greater reading than the prior reading, the system will generate an error message. If the meter type is increasing or decreasing and defined to allow rollover, the message warns that the rollover option must be selected before saving.
When you save the page, the meter readings entered become part of the meter history.
Using the Prior Reading tab, you can view the last entry made for the meter type. It also displays rollover or replacement activity from the prior meter reading.
You may enter comments related to a meter reading using the Comments link.
Updates to meter readings can be entered to modify existing readings. When making changes to meter readings, the change impacts not only the variation/reading of the changed meter reading but also the variation of the immediately following reading. You can modify the meter reading dates; this may cause meter readings that do not follow the rules of variations for increasing type of readings and conversely for decreasing type of readings as we have outlined on the enter readings page. Daily average will only be recalculated if the change affects the last n numbers of readings where n is the number of readings established at Meter Type definition level. Modifying meter reading dates could end up in having meters out of sequence that is, not entered and listed from the oldest to the newest). For auditing purposes, check the option to keep track of that out-of-sequence entries.
Access the Meter Readings History page.
Search for and review meter readings history by business unit and asset ID. You can further refine the results by entering a meter type and date range. The results display the following information.
As of Date/Time |
Displays the date and time of the meter reading listed. |
Meter Type |
Displays the type of meter associated to the asset and reading. |
Rollover |
If checked, indicates a meter rollover occurred. |
Replaced |
If checked, indicates a replaced reading was entered, usually due to a rollover. |
Reading |
Displays the meter reading entered for the meter reading listed. |
Variation |
Displays the calculated change from the prior meter reading. |
Accum. Reading (accumulated reading) |
Displays the accumulated readings. |
UOM (units of measure) |
Displays the units of measure for the meter type. |
This section provides an overview of asset warranties and discusses how to associate warranties to assets.
Many assets are acquired with a standard manufacturer's warranty that the asset is free of defects and what remedies are available to you if the asset manifests a warranted defect during normal use, such as eligibility for a replacement asset, or a loaner while the warranted asset is repaired. The warranty often defines the period for which the asset is warranted, the maintenance and repair responsibilities of the owner, and the procedures for making a claim in the event a defect in the asset is discovered.
Warranties are sometimes available for extension. This may involve the issuance of a separate warranty that becomes active when the original warranty expires. Or it may warrant components of the asset that the standard warranty excludes. A warranty may contain different expiry dates for different components of the asset. It may provide for on-site repairs, may require return material authorizations (RMA), and may or may not be transferable.
PeopleSoft provides the ability to set up standard warranties and associate a warranty to an individual asset and provides warranty templates to apply a standard warranty to multiple assets at one time.
Page Name |
Object Name |
Navigation |
Usage |
Asset Warranties |
ASSET_WARRANTY |
Asset Management, Service and Maintenance, Asset Warranties |
Associate warranties to an asset ID and store warranty information including effective date, end date, coverage and contact information. . Multiple warranties may be applied to a single asset. |
Search For Asset Warranty Templates |
AM_WTMPL_SRH |
Click the Apply Warranties from Templatese link on the Asset Warranties page. |
Search for warranty templates to apply to the asset. Templates are created by setID. Search parameters include asset type, asset subtype, vendor ID, Model and item ID. |
Add books to assets either by entering the assets though the Asset ExpressAdd component or capitalizing them on the Asset Information page of the Asset Basic Information component.
The pages in the Asset Book Definition component enable you to enter book information that is different from that in your asset profile IDs.
This section discusses how to:
Identify asset books and other depreciation information.
Add depreciation details.
Add tax information for the book.
Page Name |
Object Name |
Navigation |
Usage |
Book - Depreciation |
ASSET_BOOK_01 |
Asset Management, Asset Transactions, Asset Book Information, Define Tax/Depr Criteria |
Identify the asset’s books and some of the information needed for calculating depreciation. An asset can be linked to any number of books. Typically, separate books are required for financial and tax purposes. |
Depreciation Method Information |
ASSET_DEPR_DETAILS |
Select the Special Depreciation check box and then click the Special Terms link on the Book - Depreciation page. |
Set special depreciation terms and select an accounting method for them. These are commonly used to meet depreciation requirements for specific countries. |
Book - Tax |
ASSET_BOOK_02 |
Asset Management, Asset Transactions, Asset Book Information, Define Tax/Depr Criteria, Book - Tax |
Specify property type, tax depreciation criteria and tax credit options. If the fields on this page are not available, the book was not set up as a tax book on the Business Unit/Book Definition page. |
Access the Book - Depreciation page.
In Service Date |
Enter the date that the asset was made available for use from a financial standpoint. This date and the depreciation convention determine when depreciation starts for this book. This date is reflected in the Begin Depr Date field. |
Depreciate When In Service |
Select to allocate annual depreciation as of the date that you placed the asset in service. If you do not select this option, Asset Management allocates annual distribution as of the date determined by the depreciation convention. This option is valid only in the year that the asset was acquired. |
Convention |
Enter the convention that the system uses to prorate depreciation for the asset. Asset Management is delivered with most standard depreciation conventions set up in the Depreciation Conventions table. The system derives the beginning depreciation date from the convention and the placed-in-service date. For example, if you began using an asset on May 3, 2001, and selected Actual Month as the depreciation convention, Asset Management would begin depreciating this asset on May 1, 2001. If you selected Following Month as the convention, depreciation would begin on June 1, 2001. |
Retirement Convention |
Enter the retirement convention that the system uses to prorate retirement for the asset. |
Select a depreciation method in the Depreciation Method field. Some depreciation methods require you to enter additional information. Depending on the method that you select, additional fields will display as needed, and as described in the following table:
Method |
Fields |
Declining Balance w/SL% /Limit |
DB Pct (declining balance percent) and Limit Pct (limit percent) |
Declining Balance w/SL% |
DB Pct |
Depreciation Schedule |
Schedule |
Declining Balance |
Percent, Low Limit, and Monthly |
Flat Rate % |
Percent, Low Limit, and Avg Option (averaging option) |
France Derogatory Balance |
DB Pct, Percent, Low Limit, and Depr Pass Life (depreciate past life) |
Germany Staffel Method |
DB Pct, Percent, Low Limit, and Depr Pass Life |
Japan - Intangible/Strt Line |
DB Pct, Percent, Low Limit, and Depr Pass Life |
Japan - Tangible / Declining Balance |
DB Pct, Percent, Low Limit, and Depr Pass Life |
Japan - Tangible/Strt Line |
DB Pct, Percent, Low Limit, and Depr Pass Life |
Japan -Changes DB to SL |
DB Pct, Percent, Low Limit, Depr Pass Life |
Japanese - Lease Depreciation |
No additional fields display. |
Manual Depreciation |
No additional fields display. The manual depreciation method enables you to adjust depreciation amounts using different method. To use manual depreciation, you must first create depreciation entries using another method. Once this has been done, you can make your adjustments. |
Straight Line |
No additional fields appear. |
Straight Line Percent |
Percent |
Sum of the Years |
No additional fields appear. |
Units of Production |
UOP ID (units of production ID) |
User Defined Method |
Method ID, DB Pct, Percent, Low Limit, and Depr Pass Life |
The following table defines the additional fields:
Limit Pct (limit percent) |
Enter to specify a limit for depreciation as a percentage of cost. |
UOP ID (units of production ID) |
Enter the units-of -production ID, production information, and transaction information to use for the asset. |
DB Pct (declining balance percent) |
Enter the percentage of declining balance depreciation to be taken each year until the amount calculated by the straight line method is greater. |
Percent |
Enter the percentage of original basis to be taken in depreciation each year. |
Low Limit |
Enter an amount. When the asset basis reaches this limit, the remaining basis is taken in depreciation and the asset is fully reserved. Low limit is specific to group assets and flat rate. |
Depr Pass Life (depreciate past useful life) |
Select this if you want to continue to depreciate this asset past its useful life. This option is used for certain countries' governmental regulations and in utilities industries to depreciate an asset to the end of a depreciation calendar. |
Method ID |
Enter the user-defined method to use. |
Schedule |
Enter a schedule to use for depreciation. |
Avg Option (average option) |
Generally, this field is used by utility companies to depreciate composite assets. The averaging options are expressly designed to work with the flat rate depreciation method. |
Monthly |
Monthly averaging takes an average monthly asset balance and multiplies it by the annual depreciation rate. The result is then applied against a period allocation (1/12, 2/12, 3/12, and so on) to derive a year-to-date (YTD) depreciation amount. The difference between the newly calculated YTD depreciation and the previous YTD depreciation is the amount booked to the current period. This is applicable to the declining balance method only. |
Yearly |
Yearly averaging is similar to monthly averaging except that a yearly average balance is used. Because this amount is not known until the end of the year, it is usually estimated and adjusted periodically as the actual figures become available. |
Note. Using the flat rate depreciation method causes any depreciation to be posted to the end of the calendar. If this is not the intention, you must enter a low limit of .01 when you first select the depreciation method in the Asset Book Definition component for the asset. If you have not already done this, update the Depreciation Method field on the General 2 page by selecting Flat Rate and entering .01 in the Low Limit field that appears.
Calculation Type |
Select Remaining Value to deduct any accumulated depreciation from the cost basis and depreciate the remaining value over the remaining life of the asset. Most assets are depreciated using this option. Use Life-to-Date to calculate the difference between the depreciation allowed and the depreciation taken. Typically, you use life-to-date calculations when there is a change in accounting principle, such as depreciation method. Changes of this type require an adjustment for the differences in accumulated depreciation to date. For example, if you took 20,000 USD depreciation over a two year period but the amount allowed was 24,000 USD, the difference of 4,000 USD would be expensed as an adjustment to accumulated depreciation in the current period. |
Low Value |
Select to identify assets with costs below a certain level for special depreciation processing. This is a requirement for Germany. |
Useful Life |
Enter the number of periods. This is used to perform the depreciation calculations for the financial books. |
End Depr Date (end depreciation date) |
Enter a value to have depreciation end at a particular time. At the ending depreciation date, the remaining asset basis is taken in depreciation and the asset is fully reserved. |
Future Depr Yrs (future depreciation years) |
Asset Management calculates and stores depreciation until the end of the asset’s life. However, for optimal processing performance and greater table efficiency, you can specify a fixed number of years for which depreciation is calculated and stored. Note. It is strongly recommended that you use the Future Depreciation Years option for group assets and for a large number of assets. |
Special Dpr or Special Terms |
If you are working in a global environment and want to use special depreciation terms to meet specific country requirements, select the Special Dpr check box and click Special Terms to open the Depreciation Details page, where you can select special terms for depreciation. |
Depr Limit Code (depreciation limit code) |
Depreciation limits generally apply to tax books, but they can also be used for financial books. The TableSet delivered with Asset Management contains depreciation limits currently dictated by the U.S. Internal Revenue Service for luxury automobiles. |
Cost Basis Limit |
Enter the limit on the depreciable basis of this asset. If the actual cost of an asset is greater than its depreciable basis, the difference produces a gain when the asset is retired. |
Salvage %Salvage Value |
Enter the residual value of the asset subtracted from the cost to determine the depreciable basis used in depreciation calculations. You can enter it either as a flat rate or as a salvage percentage (a percentage of the asset’s total cost). If you use a salvage percentage, the system recalculates the salvage value as you add additional costs for the asset. |
(AUS) Multi-Shift Code |
Enter rates by which depreciation should be increased based on the number of production shifts an asset is used. |
Child Inherits Parent's Life |
Select if the child asset inherits the parents remaining life. When you use parent-child component assets, all child assets have their own cost basis and depreciation attributes that are independent of the parent asset. Because the child's asset life may differ from the life of the parent asset, you may need to specify that a new child asset of a parent asset inherit the remaining life of the parent asset. |
Impairment Process |
Select to make asset available for impairment processing. |
See Also
Setting Up Depreciation Processing
Access the Depreciation Method Information page.
Select one of the following accounting method options:
Allowance |
Special depreciation amounts are not booked with the standard depreciation amounts. Journal entries are generated that include only the standard depreciation. Asset Management does not support automatic generation of journal entries for the special depreciation allowance accounting method. You may need to run two reports—the Reserve for Special Depreciation report and the Reversal for Special Depreciation report—and then generate the journal entries manually into the General Ledger system. |
Expense |
Total amounts of special depreciation and standard depreciation are booked and journal entries are generated that include the total of the standard and special depreciation amounts. |
Reserve |
Special depreciation amounts are not booked with the standard depreciation amounts. Journal entries are generated that include only the standard depreciation. Asset Management does not support automatic generation of journal entries for the special depreciation reserve accounting method. You may need to run two reports—the Reserve for Special Depreciation report and the Reversal for Special Depreciation report—and then generate the journal entries manually into the General Ledger system. |
Additional fields are provided to comply with the depreciation methods used in countries other than the U.S. If your current depreciation method requires these fields, enter Special Terms, Accel Terms (accelerated terms), Initial Terms, andIncr Rate (increased rate).
When you use additional terms, they affect depreciation calculations as follows:
Term |
Depreciation |
Special |
Depreciation × Rate |
Accelerated |
Depreciation × Rate |
Initial |
Cost × Rate |
Increase |
Depreciation × Rate |
The Year of Change field is available only if the depreciation method is Japan-Change DB to SL. Enter the year of the change in calculation methods.
See Defining Depreciation Terms and Rates.
Tax
The rate and amount of the tax credit are based on federal tax law and determined by the qualified investment code, tax credit type, tax credit code, and the basis reduction option in Asset Management.
Basis Red (basis reduction) |
Displays the total reduction of the cost basis, if any. The total reduction amount is updated each time you change tax credit information. |
Qualified Investment Code |
It corresponds to the option you enter in the Tax field. |
Tax Credit Type |
Although the investment tax credit was essentially repealed on December 31, 1985, certain business incentive credits can still be taken. Currently, you can specify the following credits:
|
Tax Credit Code |
Enter a value in this field to further define the tax credit—for example, a 20 percent rehabilitation tax credit is available for certified historic buildings. |
Basis Reduction Option |
Some credits require a corresponding reduction in the asset’s cost basis. In this field, specify whether the basis needs to be reduced. Options are:
|
Asset Management calculates the percentage and computation amount based on the following calculations:
(Book Cost) × (Qualified Investment Percentage) = (Amount Qualifying for Tax Credit)
(Amount Qualifying) × (Tax Credit Percentage) = (Amount of Tax Credit)
(Amount of Tax Credit) × (Basis Reduction Percentage) = (Amount That Basis Is Reduced)
The Asset ExpressAdd component is a series of pages that enable you to add owned assets quickly and efficiently. Assets added with the Asset ExpressAdd component are capitalized automatically when you save, and most of the information in the pages can be defaulted from an asset profile. This component also enables you to enter accumulated depreciation for assets.
When entering joint venture assets that are shared among several business units, it is best to assign a unique asset ID. This ensures that the assets created at the participant level have the same ID as the asset created at the joint venture business unit level. You can make these asset IDs easy to identify by including the prefix JV—for example, you might create the asset ID JV000022.
When entering assets that have a Parent/Child relationship, you must first enter a Parent ID on the Cost/Asset Information page before assigning the Profile ID default.
Here’s how you add assets with the Asset ExpressAdd component:
Enter information about how the asset will be capitalized. (If you are adding Parent/Child assets, you must specify the Parent ID in this step.)
Assign a profile ID.
Identify the asset’s books and information needed for calculating depreciation.
Specify property type and tax depreciation criteria.
See Also
Page Name |
Object Name |
Navigation |
Usage |
Cost / Asset Information |
ASSET_ENTRY_00 |
Asset Management, Asset Transactions, Owned Assets, Express Add |
Enter information about how the asset will be capitalized. |
Depreciation Information |
ASSET_ENTRY_01 |
Asset Management, Owned Assets, Express Add, Depreciation Information |
If you set up book information in the asset profile, all book information appears by default. The Depreciation Information page identifies the asset’s books and information needed for calculating depreciation. An asset can be linked to any number of books. Typically, separate books are required for financial and tax purposes. If you manage assets in multiple currencies, each currency can have its own book. |
Tax Information |
ASSET_ENTRY_02 |
Asset Management, Owned Assets, Express Add, Tax Information |
Specify property type and tax depreciation criteria and identify the investment credits that are taken for the current asset. If the fields on this page are unavailable, the book was not set up as a tax book. |
Access the Cost / Asset Information page.
Asset Information
Accum Depr in Current Pd (accumulated depreciation in current period) |
Select to have the system book accumulated depreciation for the asset to the current period. Otherwise, accumulated depreciation is booked to the previous period. If that is the case, you may need to reopen the period. |
Trans Date (transaction date) and Acctg Date (accounting date) |
Typically, the transaction date represents the date that you actually acquired the asset and the accounting date represents the date that the transaction is posted to the general ledger. The accounting date is validated against the FIN_OPEN_PERIOD table to determine the period to which the transaction is posted. The difference between the transaction date and the accounting date determines if any prior period depreciation needs to be calculated. For example, suppose that a computer was acquired and placed in service on March 15, 2001, but the information was not entered in Asset Management until August 1, 2001. All general ledger periods prior to August are closed. In this case, Asset Management automatically calculates depreciation starting in March and posts it to the general ledger in August. |
Location |
Identify the asset location by selecting from a list of valid values. Identification of the asset location is required for managing hazardous material assets, which must often be monitored and reported on. This location is automatically populated with the ship from location for VAT-enabled business units. |
Trans Code (transaction code) |
Identify which accounting entry template is used for the asset, such as Abandoned, Inventory, or Scrapped. The system accepts only valid combinations of the category, cost type, transaction code, and transaction type for which accounting entry templates exist. |
CurrencyandRate Type |
Select the currency and exchange rate type. |
Note. When working with Parent/Child assets, you must go to the Asset Additional Information section and enter the Parent ID before you select Default Profile.
Asset Cost Information
Enter one row of cost information before populating fields with the default information from the asset profile.
Cost Type |
Break down portions of the asset cost, and enter as many cost types as needed for each transaction. For example, the costs of constructing a building are often broken down into categories reflecting the type of cost, such as material, labor, permits, and so on. Only valid cost types are accepted. The cost types are user-defined during the system implementation. |
Salvage |
Displays the salvage value that is calculated based on the option defined at the asset profile level (either flat amount or percentage). Salvage value is prorated based on a ChartField’s cost if a flat amount is used, and it appears as a percentage of cost if the percentage option is selected. |
Accum Depr (accumulated depreciation) |
Enter the amount of depreciation already recognized. If you are adding assets that have depreciation from prior years or prior periods, enter that amount in this field. |
YTD Depr (year to date depreciation) |
If any portion of the accumulated depreciation amount applies to the current fiscal year, enter the amount of that portion. |
Note. After you save this page, you cannot change the asset information here. To modify the information, you must use the Asset Cost Adjust/Transfer page or the Basic Add page. When working with Parent/Child assets, remember to designate the Parent ID before you continue.
Asset Additional Information
Note. Parent and child assets cannot also be group assets or collateral assets.
Hazardous Asset |
Check if the asset qualifies as hazardous. |
Taggable Asset |
Check if the asset can be physically assigned a tag number. |
Capitalized Asset |
This check box is display-only, and the status is determined automatically by the asset profile. Non-capitalized assets have no cost or books and are not depreciated in Asset Management. Sometimes you need to track physical information only (such as location, physical specifications, number of units, and so forth), but you don’t want information about the assets to appear in the general ledger. |
Composite Asset |
Check if the asset is a composite asset. |
Set R and D Info (set research and development information) |
Click this link to enter research and development information on the Asset R&D Information page. In Australia, this option is used for tax reporting purposes. Otherwise, this field is informational only. |
Hazardous Code Info |
Click on this link to go to the Hazardous Asset Codes page and select a hazardous code to identify with and associate to this asset. |
This section discusses how to copy an asset.
Page Name |
Object Name |
Navigation |
Usage |
Create Asset Copies |
ASSET_COPY_01 |
Asset Management, Asset Transactions, Owned Assets, Copy Existing Asset |
Copy an existing asset if its financial and physical information is similar to that of a new asset that you want to create. Copy the existing asset and change only the financial and physical information that is different. The system automatically assigns the new asset a different asset ID. Alternatively, you can specify an asset ID. |
Access the Create Asset Copies page.
Note. Child assets can be copied, but parent assets cannot.
Asset Copy Options
Select or deselect the data to be included in the copy
Asset
The next available Asset ID will be assigned. Enter the additional asset attributes for the copy.
Book
Quantity,Cost,Category, andCT(cost type) |
Displays the asset quantity, cost, category and cost type. |
Salvage Value |
Displays a value that is calculated based on the selections for this field at the asset profile level (either flat amount or percentage). The salvage value is prorated based on a ChartField’s cost if a flat amount is used. It appears as a percentage of cost if the Percentage option has been selected. |
See Also
Adding and Maintaining Asset Information
This section provides an overview of and discusses how to view component asset hierarchies.
Assets can be considered as components of other assets of a higher level. For example, when you acquire specialized heavy duty equipment, such as cranes, tractors, or construction vehicles, it may be practicable to view specific elements of the asset as individual “sub-assets” that serve the overall asset it is a part of. A crane may use a specialized extension for larger projects, but the extension device must attached to a crane before it is useful. In this case, the extension can be considered a component of the crane. It is, however, an expensive piece of equipment with a separate depreciable life from the crane and you would, therefore, want to maintain it as an asset rather than an expendable part of the crane.
In turn, the extension may also be used to support another component of itself, an optional set of hooks or lifters, for example. In such a case, the lifters are a component of the extension and the extension is a component of the crane. In this way, you may have multiple assets that serve one another as components of an asset at a higher level or that create a component hierarchy.
Asset Management enables you to view up to nine levels of asset component relationships from the Asset Component Hierarchy page.
Page Name |
Object Name |
Navigation |
Usage |
Asset Component Hierarchy |
AM_HGRID |
Asset Management, Asset Transactions, Owned Assets, Asset Component Hierarchy |
Use to view associated asset component relationships. |
Access the Asset Component Hierarchy page.
This section provides an overview of parent-child asset relationships and discusses how to:
Create an asset parent.
View child assets.
Add parent and child component assets.
Use the Child Inherits Life of Parent feature.
Update parent-child basic information.
Select child assets.
View parent and child assets.
Some assets stand alone, while others are grouped together for ease of processing and reporting. Parent-child assets are assets that are grouped together. For example, a computer can be regarded as several separate assets such as a monitor, a CPU, and a printer.
Here’s an overview of three approaches to you might use to add the computer as an asset:
Add the computer as a single asset.
You use this approach to capitalize the asset with one cost, depreciate it as a single unit, and physically track it as one item.
Create a parent asset that is not an actual asset but rather a conceptual asset (for reporting purposes) that ties together the various asset components.
In Asset Management, this is referred to as a parent onlyasset. Use the asset ID to tie together all the components as child assets. Each component has its own cost basis, depreciation, and physical tracking information.
Identify one of the asset’s components as the parent when you enter it.
In Asset Management, this is referred to as a parent component asset. Give it an asset ID, and use that ID to tie together the other components as child assets. Each component has its own cost basis, depreciation, and physical tracking information.
Note. Group assets or members cannot be used as parent-child assets.
Note. Parent assets created on this page cannot have associated costs and physical characteristics. Therefore, you cannot view them in the Parent-Child Basic Information component. Also, you cannot view them or perform transactions on them in the Asset Cost Adjust/Transfers component, the Asset Retirements component, or the Parent-Child NBV component. You can, however, view them on the Inquire - Parent and Child Assets page.
Access the Child Assets page.
Note. You can use this page to view a child asset if you have added it with future transaction and accounting dates that have not yet passed. You cannot view such an asset on the Inquire - Parent and Child Assets page.
You can add parent and child assets by using the Asset Basic Information component or the Asset ExpressAdd component. Before you can identify a child asset of a parent, you must first identify the parent asset.
When you use parent-child component assets, all child assets have their own cost basis and depreciation attributes that are independent of the parent asset. Because the child's asset life may differ from the life of the parent asset, you may need to specify that a new child asset of a parent component asset inherit the remaining life of the parent asset. For example, suppose that a car is depreciated using a five-year life. After two years, a CD player is added as a child asset to the car (which is the parent asset). You can depreciate the CD player over the remaining depreciable life of the car—that is, three years. The child asset then takes on the remaining life of the parent component asset. You can also override the child’s asset life with a different life, if necessary.
Setting Up the Child Inherits Life of Parent Feature
You must select the Child Inherits Parent’s Life option on the following two pages before you can use it:
On the Asset Management page of the Installation Options component.
On the Business Unit/Book Feature page of the Asset Management Business Unit Definition component.
Applying the Child Inherits Life of Parent Feature to a Child Asset
To apply the Child Inherits Parent’s Life feature to a child asset:
Add the child asset using the Cost / Asset Information page of the Asset ExpressAdd component, and enter the cost.
Expand the Asset Additional Information group box. From the Parent-Child drop-down list box, select Child to indicate that this is a child asset. Select an ID for the parent asset in the Parent ID field. You must enter a Parent ID before you select Default Profile.
From the Asset Cost Information group box, enter asset cost information for the child asset as it applies. Click the Default Profile button to capitalize the asset and create all the corresponding asset books.
When prompted, click Yes to have the system recalculate the book's asset life based on the parent's remaining life.
Access the Depreciation Information page, and click the Default Parent's Life button to view or recalculate the child asset’s life.
The Default Parent’s Depr Attributes page appears. The Parent Depreciation Attributes section shows the asset life information for the parent asset. The Child Depreciation Attributes section shows the asset life information for the child asset that Asset Management calculates from the remaining life of the parent asset.
Examine the calculated remaining life information, and either accept the remaining life for the child asset or change it by entering a new life
Note. Remember when working with Parent/Child assets, you must go to the Asset Additional Information section and enter the Parent ID before you select the Default Profile button.
Use the pages within the Parent-Child Basic Information component to update basic information about a parent and its child assets.
Note. Parent assets created on the Asset Parent page (parent-only assets) do not have cost or basic information. They cannot be
viewed in the Parent-Child Basic Information component. Also you cannot view them or perform transactions on them in the Cost
Adjust/Transfer Asset component; the Retire/Reinstate Asset component; or the Review Parent-Child NBV component. If you want
to use a parent asset as an umbrella asset for reporting purposes only and access these components to manipulate child assets
in mass, you can create a 0-cost parent asset as opposed to a parent-only asset.
Any adjustments made to parent assets are not made to the associated child assets. To make a change to an associated child
asset, select the child asset on the Child Assets page.
Details entered on the Location/Comment/Attributes page or the Manufacture/License/Custodian page are not automatically copied
from a parent to its child assets.
See Also
Adding and Maintaining Asset Information
To include a child asset, select the check box in the Selected column.
Tag Number |
Displays the tag assigned to the child asset. Parent and child assets may share the same tag number. You can sort child assets according to this field. |
Description |
Displays the child asset description. You can sort child assets according to this field. |
Child Asset ID |
Displays the asset ID assigned to the child asset. You can sort child assets according to this field. |
Cost |
Displays the cost of the child asset. You can sort child assets according to this field. |
Currency |
Displays the currency in which child asset costs are stored. You can sort child assets according to this field. |
Acq Date (acquisition date) |
Displays the date that the asset was acquired. You can sort child assets according to this field. |
Asset Information |
Click a link in this column to access another copy of the Asset Information page of the Asset Basic Information component. The component is populated with the child asset information. |
Include Parent Asset |
Clearing this default setting enables you to update at once all or selected child assets while excluding the parent asset. However, the update details must be specified on the parent. |
Note. If you select the Include Parent Asset check box and the transaction is complete, the pages continue to show the parent asset as retired, transferred, or recategorized. The retained parent values are not displayed until you save and exit the pages and then access the component again.
Access the Parent and Child Assets page.
Note. If the status of a parent asset is Retired or Disposed and the asset has child assets that are still in service, the child
assets are orphaned.
If you have added a child asset and given it future transaction and accounting dates that have not yet passed, you cannot
view that child asset on this page. However, you can view it by clicking the link for the child asset on Asset Parent page.
This section provides an overview of asset replacement cost and discusses how to calculate replacement cost.
Your tangible working assets are one of the greatest investments made in any enterprise. As certain assets approach the end of their useful lives, you need to be able to anticipate expenditures to replace these assets. You may need to get a replacement cost as you explore insurance coverage for property, equipment, computers and other assets. Likewise, you may need to replacement calculate the cost in the event of an unforeseen loss, such as when plants or equipment are destroyed in a fire or a natural disaster.
Asset Management provides the Calculate Replacement Cost application engine (AMRCCAL) that will make a replacement cost calculation of all assets, assets with new activity, or a selected range of assets, based on an index that you apply to the equation, such as the consumer price index (CPI) or other indexes you maintain.
Page Name |
Object Name |
Navigation |
Usage |
Calculate Replacement Cost |
RUN_AMRCCAL |
Asset Management, Asset Transactions, Owned Assets, Calculate Replacement Cost |
Calculate asset replacement cost. |
This section discusses how to search for an asset.
Page Name |
Object Name |
Navigation |
Usage |
Search for an Asset |
AM_LOOKUP_PNL |
Asset Management, Search for an Asset |
Search for an asset based on specified criteria. After you find assets that meet the criteria, you can view them in greater detail. Use links to quickly access other components in the system and perform transactions on selected assets. |
Access the Search for an Asset page.
Note. The asset search utility includes searching by the Description field. If processing is very slow, PeopleSoft recommends that an index of the DESCR field be created for the ASSET table to improve performance.
When an organization maintains a high volume of property assets, it is recommended that you create new indexes and alternate search keys to enhance search performance.
Alternate search keys should be created for the following fields:
Table ASSET_SITE change Record Definition to include PROPERTY_NM as an Alternate Search Key field.
Table ASSET_BLDG change Record Definition to include PROPERTY_NM as an Alternate Search Key field.
Table ASSET_FLOOR change Record Definition to include PROPERTY_NM as an Alternate Search Key field.
Table ASSET_AREA change Record Definition to include PROPERTY_NM as an Alternate Search Key field.
The following new indexes should be created on the ASSET_PROPERTY table:
PS_ASSET_PROPERTY(BUSINESS_UNIT,SITE_PROPERTY_ID).
PS_ASSET_PROPERTY(BUSINESS_UNIT,BLDG_PROPERTY_ID).
PS_ASSET_PROPERTY(BUSINESS_UNIT,FLOOR_PROPERTY_ID).
PS_ASSET_PROPERTY(BUSINESS_UNIT,AREA_PROPERTY_ID).
PS_ASSET_PROPERTY(IS_LEASED, BUSINESS_UNIT, SITE_PROPERTY_ID, BLDG_PROPERTY_ID, FLOOR_PROPERTY_ID, AREA_PROPERTY_ID).
Asset Search Criteria
Use the Asset Search Criteria, Acquisition Details, and Retrieve group boxes to establish the search criteria. Each group box enables you to confine the search to specific tables according to the following rules:
Asset table information is always retrieved.
Cost information is retrieved if any of the cost fields is used in the search criteria, or the Cost Information check box is selected.
For example, if you enter a category and the asset is capitalized, the cost information for the asset is retrieved regardless of whether the cost information check box is selected. However, if you don’t populate any of the cost fields in the search criteria, you need to select the cost information check box. If you don’t need to view cost data, leave the check box blank.
Asset acquisition information is retrieved if any of the fields in the Acquisition Details group box are used in the search criteria, or if the Acquisition Information check box is selected.
Location code is retrieved if the location field is used to retrieve asset information or if the Location check box is selected.
The Non Capital Asset check box is used only when the Acquisition Information and Cost Information check boxes are selected, or when fields from the Asset Search Criteria and Acquisition Details group boxes are specified.
Click the Hint link for additional information when selecting criteria.
Search Results - Select One Asset to Continue
Search results display with details available from these tabs:
Asset Information: This tab shows business unit, asset ID, description, asset type, asset subtype, tag number, serial ID and status.
Asset Cost Information: This tab shows business unit, asset ID, description, ChartFields, cost type, quantity, cost and currency.
Acquisition Detail: This tab shows business unit, asset ID, description, PO business unit, PO number, receiving business unit, receipt number, AP business unit, voucher ID, PC business unit, project ID, and activity.
Owner/Custodian: This tab shows business unit, asset ID, description, employee ID, custodian, asset custodian department ID, and offsite status.
Work Maintenance: This tab shows business unit, asset ID, description, use-as-tool option, schedulable option, capitalized asset option, overbooking option, work order location, work order business unit, work order shop, and VIN.
More: This tab shows business unit, asset ID, description, profile ID, parent ID, group ID, location, lease end date, manufacturing ID, model, and replacement cost.
Display all columns by clicking theShow all Columnsicon.
You can sort options to arrange the asset list order. For example, if you click Asset ID, assets are ordered according to the asset number assigned in either ascending or descending order.
Note. Some results may contain multiple ChartFields. To display them, click either the Asset Cost Information tab or the Show all Columns icon.
Drill-Down To
The drill-down functionality enables you to review detailed information about a selected asset within different Asset Management components. You can also use the drill-down functionality to copy or print an asset. Select one of the following options to view detailed asset information in a new window:
Asset Accounting Entries.
Asset Basic Information.
Asset Component Hierarchy.
Asset Cost Adjust/Transfers.
Asset Cost History.
Asset Depreciation.
Asset Retirements.
Copy Asset.
Define Tax/Depr Criteria (define tax and depreciation criteria).
Print an Asset.
This section lists the page used to print asset information.
Page Name |
Object Name |
Navigation |
Usage |
Printable view of Asset |
AM_LOOKUP_PRINT |
Asset Management, Print an Asset |
Generate a printed copy of the asset basic information, default book and depreciation attributes, and asset cost information for the default book. |
The PeopleTools Excel to Component Interface utility enables you to add assets from a predefined spreadsheet template. You can use the utility to upload new asset information during a conversion or when adding assets acquired from an acquisition or merger. You can add financial data and physical data. Once the data is uploaded, it is available for the Transaction Loader process to process the asset additions as financial add transactions (FAD).
Note. The amount of data that can be uploaded from a spreadsheet is limited by the spreadsheet utility. Consequently, this method of conversion is inappropriate for large-volume data conversions.
This section provides an overview of how to import asset information with the Excel to Component Interface utility and discusses how to:
Enter data to import assets.
Preview the data to be imported through a spreadsheet.
See Also
Enterprise PeopleTools 8.46 PeopleBook, “PeopleSoft Component Interfaces”.
The PeopleSoft system provides a template to import and add transactions financial data from the spreadsheet to Asset Management tables INTFC_FIN and INTFC_PHY_A with the Excel to Component Interface utility.
Here is an overview of the steps to add assets using import data from an Excel spreadsheet:
Connect to the database by entering the database connect information on the template Connect Information tab.
You need the PeopleSoft web server name, port, PeopleSoft Pure Internet Architecture or portal name, and default local node.
Select the predefined component interface (INTFC_FINPHY_SS_A) to populate the template on the Template tab.
Select the fields that are used to enter data.
Select New Data Input to format the Data Input tab with the selected data fields for the component interface.
Input data for all identified and selected record levels on the Data Input tab.
Stage the input data to the Stage & Submit Data tab.
Review the data that is ready for staging on the Stage & Submit Data tab.
Submit data for error-checking and transmission to the database, if successful.
Errors are returned to the Stage & Submit Data tab; select the Post Results option to return processing errors to the Data Input tab for reworking.
Submit data to the Asset Management database as needed to successfully transmit all input data to Asset Management.
Preview the financial and physical data, using the menu option for importing data through a spreadsheet.
Run the Transaction Loader process to add assets to the database.
Page Name |
Object Name |
Navigation |
Usage |
Import Data Via Spreadsheet |
INTFC_FINPHY_SS |
Asset Management, Send/Receive Information, Import Data via Spreadsheet, Financial and Physical, Import Data Via Spreadsheet |
Preview data uploaded from ExcelToCI utility to import and add financial transaction data to Asset Management tables INTFC_FIN and INTFC_PHY_A before running the transaction loader. If you want to change any information, you must go back to the ExcelToCI utility to make changes. |
Access the Excel to Component Interface spreadsheet (ExcelToCI.xls).
Connect and select the component interface to be used for the asset upload: INTFC_FINPHY_SS_A. Select the data fields to be entered and format the Data Input tab by selecting New Data Input. Access the Input Data page of the Excel to Component Interface utility. The following table describes the entries for required fields to upload asset FAD transactions. Many other data fields are available to enter data through the template in addition to the ones described here; these are not required or key fields.
Record Level 000 identifies the common key field values to be shared by INTFC_FIN and INTFC_PHY_A. Record level 100 contains data fields for the INTFC_FIN table and record level 200 identifies the data fields for the INTFC_PHY_A table.
Row Property |
Input Description |
Entry Required |
Interface ID (INTFC_ID) |
Use a unique previously unused INTFC_ID. Lock the Installation_AM table by updating the INTFC_ID to the next INTFC_ID. Use that INTFC for the CIS. |
Required |
Interface Line Number (INTFC_LINE_NUM) |
The INTFC_LINE_NUM must be unique for each ASSET_ID. |
Required |
Business Unit (BUSINESS_UNIT) |
|
Required |
Asset Identification (ASSET_ID) |
This field can be NEXT. |
Required |
Asset Book Name (BOOK) |
BOOK can be entered if the default profile SW (switch) = Y, but all the books need to be entered if the default profile SW = N (multiple lines for each asset, one line per book). |
|
Date/Time Stamp (DTTM_STAMP) |
This field should be populated by the user. If left blank, the current time is entered for the row on which it is blank. If a different date-time stamp exists for the same asset, the asset cannot be created. |
Required |
Transaction Load Type (INTFC_TYPE) |
Either FAD , ADD , CN1 & CN2 should be entered. If left blank , FAD is populated as the INTFC_TYPE |
|
System Source (SYSTEM_ SOURCE) |
Always populated as CIS. |
|
Interface Status (INTFC_STATUS) |
Always populated as DON. |
|
Load Status (LOAD_STATUS) |
Always populated as NEW. |
|
Default Books from Profile (DEFAULT_PROFILE_SW) |
|
Required |
Here is a portion of the input page:
When the data input is complete, stage the data to the Stage & Submit tab. Data is transmitted to the database from the Stage & Submit page.
Access the Import Data Via Spreadsheet page.
Select the FIN and PHY data to be uploaded from the Excel to Component Interface utility. Enter search criteria. You can search by interface ID, interface line number, business unit, transaction load type, system source, auto-approval status, load status, asset identification, and asset book name. Preview the data before running the Transaction Loader process. If you need to enter changes, you must return to the Excel to Component Interface utility to make them or update them in preview pages depending upon user permissions