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AM: Closing a VAT Voucher Does Not Correctly Retire The Asset (Doc ID 2625880.1)

Last updated on JANUARY 06, 2020

Applies to:

PeopleSoft Enterprise FIN Asset Management - Version 9.2 to 9.2 [Release 9]
Information in this document applies to any platform.

Symptoms

Voucher creates asset with invoice base amount + Non recoverable VAT portion. However when the voucher is closed then only the base amount is reversed on the asset and it does not get retired leaving the vat portion on the asset.

Steps:

1. Use Retirement' for 'Voucher Close Transaction Type' on Business Unit Setup (Tab: Interface Options).
2. Create a VAT voucher:
- VAT Summary shows: base amount 3300 + Non recoverable VAT portion 565.95.

3. Voucher Post AND Load to AM.
4. Asset Id 00000000058 has been created with the cost of 3865.95 (base amount 3300 + Non recoverable VAT portion 565.95).
5. Run Depreciation.
6. Create Accounting entries.
7. Close the voucher.
8. Run INTFAPAM.
9. Run AMPS1000.
10. Run AMIF1000.
- Part Ret and Ins AcqDtl were created.

11. Run Depreciation.
12. Review Cost.
- ADD: Toatal Cost: 3865.95
- RET: Total Cost: - 3300.00

Note: Voucher creates asset with invoice base amount + Non recoverable VAT portion --- however when the voucher is closed then only the base amount (3300)is reversed on the asset and it does not get retired leaving the vat portion on the asset.

Cause

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In this Document
Symptoms
Cause
Solution
References


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