EAM: Create Accounting Entries (AM_AMAEDIST) Creates Unbalanced Accounting Entry for Retired Asset with VAT
(Doc ID 1434595.1)
Last updated on JULY 22, 2020
Applies to:PeopleSoft Enterprise FIN Asset Management - Version 9 to 9.1 [Release 9]
Information in this document applies to any platform.
In release 9 MP7 (bundle #16), after a retirement with proceeds greater than cost is done to a non depreciable asset which has 2 books that create accounting entries and VAT is enabled, the resulting RET accounting entries are unbalanced.
However, these scenarios create balanced RET entries:
1. Depreciable assets
2. Non depreciable assets in a non VAT BU
3. Non depreciable assets in the VAT BU if the proceeds are less than or equal to the cost.
Steps to replicate:
1. Add a non depreciable asset to a BU with VAT enabled -- VAT is Inclusive.
2. Retire the asset giving proceeds greater than cost.
3. Run the Depreciation Calculation process.
4. Run the Create Accounting Entries process.
The sum of the corp book is -2500. The sum of the reporting book is -2918.52.
The same problem happens in release 9.1, but the asset does not have to be Non Depreciable. Also, the retirement can come from any of these sources:
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