
Oracle PeopleSoft Enterprise Financial Management 9.1 Implementation
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Although Asset Management needs various configurations to be completed for a successful implementation, we'll consider a few critical setups in the following section. These configuration activities are:
Configuring asset books
Configuring asset categories
Configuring asset profiles
Configuring cost types
Configuring transaction codes
Configuring accounting entry templates
Configuring depreciation conventions
Configuring depreciation schedules
Configuring depreciation limits
An asset book is used to define cost and depreciation rules for assets. In real life, organizations may need to follow multiple accounting policies and conventions due to the different countries or states in which they operate. PeopleSoft allows us to configure as many books as are needed and assigned to an asset. This approach offers flexibility to process an asset in different ways to comply with multiple regulatory requirements.
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