Book Image

Oracle PeopleSoft Enterprise Financial Management 9.1 Implementation

By : Ranjeet Yadav
Book Image

Oracle PeopleSoft Enterprise Financial Management 9.1 Implementation

By: Ranjeet Yadav

Overview of this book

PeopleSoft financial management applications have been recognized as a leading ERP product across a wide range of industries that helps organizations automate their accounting operations, cut costs, and streamline business processes. They offer industry leading solutions for organizations' global needs, however complex they may be. PeopleSoft Enterprise Financial Management 9.1 Implementation is probably the only learning resource for a novice practitioner, who may otherwise have to rely on thousands of pages of documentation for such a complex ERP system. This book covers all the crucial elements of PeopleSoft Financials—a business processes, configuration, and implementation guide. This is the ideal one-stop resource before entering the world of PeopleSoft implementation. Beginning with the fundamentals of a generic financial ERP system, this book moves on to basic PeopleSoft concepts and then dives into discussing the individual modules in detail. You will see how to leverage financial modules such as Billing, Accounts Receivable, Accounts Payable, Asset Management, Expenses, and General Ledger. Dedicated chapters discuss key PeopleSoft features such as application security and commitment control for budgeting. You will learn fundamental ERP concepts such as the chart of accounts, used by organizations for recording and reporting financial transactions, and how to implement them in PeopleSoft through chartfields, business units, and SetIDs.
Table of Contents (16 chapters)
Oracle PeopleSoft Enterprise Financial Management 9.1 Implementation
Credits
About the Author
About the Reviewers
www.PacktPub.com
Preface
Index

Understanding asset retirements


Every asset needs to be retired at some point of its useful life. It can either serve its entire useful life and then retire or retire before completing its useful life. Consider two scenarios to understand this. A laptop may be retired at the end of its (hypothetical) useful life of five years. It is quite obsolete now and doesn't serve any useful purpose. On the other hand, a truck (with a hypothetical life of 10 years) can meet an accident just a year after its purchase and get completely damaged without any chance of repair. Thus it needs to be retired prematurely. We'll later see various methods by which we can dispose off the assets after retirement.

Just like asset transfers, we can retire assets fully or partially.

On the other hand, sometimes retired assets are brought back into service. This is known as reinstatement.

Manual asset retirement

Follow this navigation to access asset retirement page:

Asset Management | Asset Transactions | Asset Disposal...