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How to Set Up Multi-Currency Books in Asset Management (Doc ID 662693.1)

Last updated on JULY 21, 2020

Applies to:

PeopleSoft Enterprise FIN Asset Management - Version 8.8 and later
Information in this document applies to any platform.

Goal

Consider the following scenario:

The company trying to set up multi-currency books is a USD based company. If it buys a building for 1 million EUROs, will the cost be translated to USD in PeopleSoft? GAAP rules indicate that the balance sheet should be translated based on a current rate/year-end rate and the income statement should be translated using a weighted average rate (SFAS 52).

How does the Asset Management module handle the two different currencies?

Solution

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In this Document
Goal
Solution

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