Last updated on MARCH 09, 2017
Applies to:PeopleSoft Enterprise FIN Asset Management - Version 9.2 and later
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?
We are moving to IFRS - the conversion began 3 years ago. For 2 years, we were required to retain the old book for GAAP and the new book for IFRS. We had to explain to shareholders how to
translate the information in the old book to the new book during this time frame. We are getting ready to inactivate the old books and retain as active only the new books. Therefore, we will require that the data remain present
but inactive at all levels for historical and audit purposes: BU, Profile, and Asset. But we 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.
Analysis from Strategy:
At this point, we anticipate that GL, at a minimum, will need to evaluate how to re-establish single GAAP reporting from the dual reporting structure required for the transition from a local GAAP to IFRS. GL setup directly impacts AM BU/Book configuration.
The enhancement for AM will focus on the decommission of asset books that are no longer required as a result of the end of the dual reporting transition period to IFRS.
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