EAM: Why ARO Asset Retirement dosen't generate the accounting entry for ARO Liability (AL) ?

(Doc ID 2332473.1)

Last updated on NOVEMBER 27, 2017

Applies to:

PeopleSoft Enterprise FIN Asset Management - Version 9.2 and later
Information in this document applies to any platform.

Goal

On : 9.2, ARO Accounting Entries

Why ARO Asset Retirement dosen't generate the accounting entry for ARO Liability (AL) ?

As per PeopleBooks, ARO Asset on Retirement creates ARO Liability Debit and ARO Settlement Credit.

Steps to Replicate,
- Retire an ARO Asset ( No Removal Cost is Entered )
- Run Depreciation Process
- Run Create Accounting Entries Process
- Verify RET Accounting entries.

The output is Fixed Asset Credit, ARO Settlement Credit and Gain Loss Debit.
 

Solution

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