An organization encounters various situations where changes need to be made to the asset details. These changes can be related to the physical or financial data. Physical asset details changes are limited to physical attributes such as color, weight, and so on, and they don't affect the asset value or depreciation. On the other hand, changes to financial data such as asset cost, category, depreciation convention, and so on impact the depreciation calculations and have tax implications.
PeopleSoft offers the following options for asset adjustments:
Addition: This option is used to make any additions to the asset cost. The COST table in asset management tracks all transactions for an asset. This option results in an additional cost line with the ADD transaction type in the COST table.
Adjustment: This option is used when a change (positive or negative) needs to be made to the asset cost. Positive adjustment is similar to the addition option given previously...
