Last updated on SEPTEMBER 02, 2015
Applies to:PeopleSoft Enterprise FIN General Ledger - Version 9.2 to 9.2 [Release 9]
PeopleSoft Enterprise FIN Asset Management - Version 9.2 to 9.2 [Release 9]
Information in this document applies to any platform.
What is the procedure for inactivating an old book from a BU? What are the potential issues that might arise in doing so? What associated data would have to be fully processed before doing so?
Site is moving to IFRS - the conversion began 3 years ago. For 2 years, they were required to retain the old book for GAAP and the new book for IFRS. They had to explain to shareholders how to translate the information in the old book to the new book during this time frame.
Now they are getting ready to inactivate the old books and retain as active only the new books. Therefore, they will require that the data remain present but inactive at all levels for historical and audit purposes: BU, Profile, and Asset. But they do not want the books to be transacted upon starting with fiscal year 2015. So, any new transactions would be posted to the new book but not the old book. The new book only would be updated with depreciation calculations, would create accounting entries and be reported upon in normal monthly reports. The old books would retain the historical data and would be available for query purposes.
1) For future depreciation posted to the old book, no alteration is required. The depreciation for the entire life of the asset book should remain as is at the cut over date.
2) The old book should become inactive and invisible to the user. The user should not see it nor alter it as a result of any process enacted against the asset.
3) The data on the old book will only be available to users who have specific access to it and via SQL scripts written by the customer for querying the data on the old book. This querying mechanism would be used for audit reporting and such.
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