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EAM 9.2: When the Profile Is Updated on the Asset as Part of the Cost Adjust/Transfer Asset - Recategorization, the Asset Class Is Not Getting Updated as Expected. (Doc ID 2992406.1)

Last updated on JANUARY 02, 2024

Applies to:

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

Symptoms

When the profile is updated as part of recategorization, the asset class is not getting updated correctly. Because of incorrect asset class, the user is reporting that the depreciation is calculated incorrectly for 50 years rather than 30 years.


Replication steps:

  1. Create an Asset. (Construction in Progress Asset). This is a non-depreciable asset.
  2. When the asset is ready for depreciation, go to navigation: Asset Management > Asset Transactions > Financial Transactions > Cost Adjust/Transfer Asset. Then select the Action as "Recategorize" and use the Update Asset Profile to change the Profile.
  3. This changed the category to BLDG (Depreciable) from the category WIP (non-depreciable) category. The Asset class remained the same.
  4. This is causing issues with incorrect depreciation calculations. Instead of calculating the depreciation for 30 years, the depreciation is being calculated for 50 years

 

Cause

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In this Document
Symptoms
Cause
Solution


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