Depreciation Adjustments in PeopleSoft Asset Management
PeopleSoft Asset Management allows you to adjust accumulated depreciation on
assets.
Navigation: Asset Management > Depreciation > Processing –Adjust Accumulated Depr
Enter the Business Unit and Asset ID. Click Search.
The Trans Date and Acctg Date should always match and the date used should be in
the accounting period that you want to record the depreciation adjustment in the ledger.
Trans Code – Enter M or leave blank
Enter the amount of your depreciation adjustment in the Depr Accum Adjustment field.
NEVER enter anything in the Year to Date Depr Adjust field.
If you enter a positive amount, the entry will debit depreciation expense and credit
accumulated depreciation.
If you enter a negative amount, the entry will debit accumulated depreciation and credit
depreciation expense.
If multiple rows appear in the Cost section where you enter the depreciation adjustment,
make sure you choose the appropriate chartfield combination that you want to adjust
depreciation on.
After saving the page, you can click on the Asset Depreciation link to view your
depreciation adjustment.
For non group related depreciation adjustments, a recalculation of monthly depreciation
will occur. The new NBV after the adjustment will be spread over the remaining life of
the asset (including the current period that you record the adjustment). You can view
the new monthly depreciation after the depreciation adjustment has processed through
the depreciation calculation job.
Note for Water Department – You cannot adjust accumulated depreciation on group
member assets. For group asset related adjustments, you can only adjust depreciation
on the Group Asset Id.