EAM: Unbalanced AM Retirement GL Journal (Doc ID 1935446.1)

Last updated on JULY 03, 2017

Applies to:

PeopleSoft Enterprise FIN Asset Management - Version 9.1 to 9.2 [Release 9]
Information in this document applies to any platform.
****Checked currency 7/3/17****

Goal

Unbalanced entry after retiring Non Depreciable Asset with LIFE_END_DT

If an asset is added as non depreciable with a LIFE_END_DT and hence no value in LIFE, when AM_DEPR_CALC runs, these fields on ps_retirement do not get populated: gain_loss, retirement_dt, and end_depr_dt. In addition, the
retirement_status remains 'N'.

Because of this, when AM_AMAEDIST runs, it creates a one sided RET journal entry. It creates a credit to the 'FA' (Fixed Asset) account, but no entry to the 'GL' (Gain Loss) account and the journal errors in GL.

Why does this happen?
 

Solution

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