Creating accounting entries

Because Asset Management is a part of financial applications, one of its important functions is to maintain accounting entries for various asset transactions. We saw that PeopleSoft offers the following delivered transaction types: ADD, ADJ, TRF, RCT, DPR, PDP, RET, LPY, and INF. These represent various transactions for which accounting entries are created.

In PeopleSoft AM, there are two different processes that create accounting entries:

• Accounting Entry Creation (AM_AMAEDIST), which creates accounting entries for all non-depreciation transactions

• Depreciation Close (AM_DPCLOSE), which creates accounting entries only for depreciation in an accounting period

Note

Every time a transaction such as asset addition, adjustment, transfer, and so on is performed, the system creates an open transaction. This transaction remains open till it is processed by one of the previous processes.

Accounting entry creation (AM_AMAEDIST) process

When the Accounting Entry Creation...