Found 617 results.
Run every mile at Kovai MarathON to support the cause of promising young students’ education through our Kovaion Kalvi!
Learn how to reverse incorrect transactions in PeopleSoft Asset Management. Enhance your capabilities with transaction reversal in just a few steps!
Asset management is a systematic process of deploying, operating, maintaining, upgrading and disposing of assets cost-effectively. The basic flow in PeopleSoft Asset Management begins with creating an asset, calculating the depreciation, creating accounting entries, closing depreciation and ends with generating journals.
Occasionally, there are cases where users enter incorrect transaction details or apply the changes to wrong asset id in PeopleSoft Asset Management. These error transactions affect the depreciation of the asset and accounting entries as well. To resolve this PeopleSoft has delivered a transaction reversal page.
Transaction reversal automatically reverses the last transaction of the asset and allows tracking the history of transaction reversals performed on any particular asset. Reversal of a transaction other than the initial asset addition results in reversing the cost of the transaction.
1) Check Reversal reason required on the AM BU definition page. This ensures the reasons are properly documented for future reference.
(Note: This step is required forces the user to select Reversal transaction code)
Navigation: Set Up Financials/Supply Chain Business Unit Related Asset Management Asset Management Definition
2)Create Reversal Reason using Reversal Reason Code page. In addition to delivered reasons, we can add more code to suit our business needs.
Navigation: Set Up Financials/Supply Chain Product Related Asset Management Financials Reversal Reason Code
3)Perform Transaction reversal using transaction reversal page.
Navigation: Main Menu Asset Management Asset Transactions Financial Transactions Transaction Reversal
The below asset is loaded with the wrong asset cost and quantity. Hence reversing the asset with the reversal code as an incorrect asset. Please see the screenshot below which shows the wrong quantity and cost.
4)Select the transaction reversal code from the prompt values and save the page.
5)Review the transaction reversal using Review Transaction Reversal page.
Author: Siva Prasad, PeopleSoft Consultant
Connect with us for PeopleSoft End-to-End Implementation, Enhancement, Updates, and Support.
Read MoreThis website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.
If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.
