We need to accelerate depreciation on the tax books for thousands of assets in prior years, and retain the cost, and future depreciation.
So for example, we need to take 50% of the asset depreciation in the year it was put in service, i.e. 2007. The asset would depreciation the remaining value through it’s life.
The partial retirement process gets me the results except it retires the asset, and adjusts the cost.
The adjust accumulated depreciation screen seems to get what we need, however, it is creating additional DPR and/or PDP entries (depending on trans_dt) used. these are small amounts but I can’t figure out where it is getting the number. If I knew how it was getting the nubmer I could adjust my plug to get the answers we need.
This is only for tax books. It is related to new repair regulations where a statistical method was applied by auditors, and we need to sync PeopleSoft to match the new values.
Thanks for any advice or detailed explanation on how the adjust accum depreciation screen works.
I may need a little more information before providing proper guidance. Have the thousands of assets had any transactions (transfers, cost adjustments, recategorizations, etc.) performed on them since they were put in service? Unfortunately PeopleSoft won’t allow you to make any adjustments to assets prior to the last possible change made to the asset (e.g. the new transaction date must be greater than or equal to the latest available transaction date associated to the asset).
Since the assets have very likely been touched since their in-service date, my recommendation would lean towards re-converting the tax books for the assets in question. When you perform the re-conversion, you can add the 50% accumulated depreciation as of the asset’s in-service date (which would accomplish the FY2007 example you provided in your question). Then the asset would depreciate as usual for the remainder of its useful life.
Alternatively, here is a quick explanation of the Adjust Accumulated Depreciation page that is delivered:
This will create an ADD entry for the accumulated depreciation adjustment, which populates the PS_DEPRECIATION table. Then, a RAD (Reserve Adjustment) entry gets created on the PS_OPEN_TRANS table. After you run Depreciation Calculation it should adjust the future depreciation of the asset based on the cost basis, the total accumulated depreciation, and the transaction date used for the adjustment.
As for the DPR and PDP entries that get created, you may want to ensure that the Accounting Date is equal to the Transaction Date used when adjusting the accumulated depreciation (even though accounting entries aren’t being created, as you are only adjusting the tax books). You’ll likely have to open up the periods in question, though, as PeopleSoft may still try to validate that the accounting period is open.
