PS Financials v8.4 to v9.0hosteddocs.ittoolbox.com/epathfinders073008.pdfXML Publisher Oracle XML Publisher (XMLP) technology is accessible from PeopleTools 8.48 PS Query and all PeopleTools

ePathfinders Research

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PeopleSoft v8.4 to v9.0 Functional Enhancements -Financials

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New features in Version 8.8 GENERAL LEDGER

Book Code Enhancements

PeopleSoft General Ledger 8.8 enhanced the Book Code functionality to offer greater flexibility and efficiency to multinational organizations by enabling you to have more than one book code associated with an account.

Reporting in XBRL Formats

To improve reporting and access to financial information, PeopleSoft General Ledger 8.8 supports XBRL (extensible Business Reporting Language) specifications 2.0 to provide standard formats in which to prepare reports that can be subsequently presented in a variety of venues.

Real time subsystem Updates – AP and AR

Immediate recording of transactions from core financial applications to PeopleSoft General Ledger without having to manually run and schedule intermediate processes now enables organizations to immediately post to the general ledger and report on a more real‐time basis. In PeopleSoft 8.8, the Journal Generator COBOL process (FSPGJGEN) was rewritten as a PeopleSoft Application Engine process (FS_JGEN) to enable PeopleSoft Payables and Receivables to seamlessly call the Journal Generator process in support of real‐time updates to PeopleSoft General Ledger without impact to other ongoing transactions.

Document Sequence Number for tracking

The Document Sequencing feature for PeopleSoft General Ledger now enables you to:

• Search by document sequence number on these pages in the Journal Entry page and the Review Journal Status page.

• Display the document sequence number in the General Ledger Activity Report and the Journal Entry Detail Report.

• Use the document sequence number as criteria in Review Journal Data, Open Item Maintenance, and Open Items Review Status Online components.

Budget Improvements for commitment control.

New Commitment Control Features


Multiple Adjustment Periods

PeopleSoft enables you to have different adjustment periods open at the same time for two fiscal years. For example, assume the current time frame is January through mid‐February of 2005 and your work must continue on the completion of the year‐end close for 2004. You can make both the years 2004 and 2005 open adjustment years.

Improved Cash‐flow statements

The new cash flow functionality provides a worksheet in which you can:

• Define the cash flow lines and their hierarchy required for your cash flow statement.

• Use element definitions that provide the capability to specify the data and calculations behind the lines making up the cash flow statement.

• Create data source definitions to identify from where the cash flow data is to be derived.

General Ledger 8.9 supports the production of the cash flow statement utilizing the direct and indirect methods.

Fund Source tracking for expenses

In addition to the usual processing and budget checking of transactions by Control ChartField for various budgets, you now have a secondary layer where transactions can be budget checked by funding source. The new functionality enables you to determine how much of a particular funding source has actually been expended, monitor the total allocation of each funding source, and readily determine where funds are allocated.


Enhanced Spreadsheet Import

The following expected enhancements to the spreadsheet import provide consistency with journal entry:

• Support for NEXT Journal ID to insure controlled sequencing of transactions.

• Support for use of Speed types to reduce data entry time and error correction.

• Support for defaulting of business unit from journal header to journal lines.

• Support for consistency of real time versus batch upload edits and capabilities.

• Support for entry of Commitment Control adjustment activity.

• Support for improved error message detail to further reduce reconciliation efforts.

Enhanced Combination Editing

When using trees to specify ChartField combination values for the Master selector Tables, the build process for the Master Selector Tables stores only the range of values for the tree nodes. The build process does not store the detail values encompassed by the nodes. It is when transactions are edited during combination editing batch processing that the range of values for each ChartField are exploded and stored in tables for each editing request.

XML Publisher

Oracle XML Publisher (XMLP) technology is accessible from PeopleTools 8.48 PS Query and all PeopleTools 8.48 based applications. This technology enables PeopleSoft Enterprise to deliver XML publisher reports to supplement Crystal reports, which require manual changes if you implement ChartField configuration. These XML publisher reports do not require manual changes to support ChartField configuration and use the same criteria as the Crystal reports.

Web service based ChartField validation

Web services facilitate integration requirements for building connected applications for deployment on the Web and are especially useful for exposing services and service operations for applications that do not share the PeopleSoft Enterprise financials database, such as legacy application.

New features in Version 8.8 ACCOUNTS PAPYABLE

Duplicate Vendor Check

Peoplesoft Payables 8.8 provides the feature to have duplicate vendor check to identify if a vendor is already registered in the Peoplesoft system. The duplicate vendor check will be made at Set ID level because Vendor data can form part of control tables in the table set. The search criteria includes – Vendor Name / Vendor Short Name VAT Regist No /D&B Number/Withholding Tax ID

Single Payment Vendors

While dealing with one time vendors, the data relating to the vendor is required only once. In such cases a new feature of entering Single Payments helps. While entering Single Payments, it is possible to define Single Payment Vendors with required processing details such as payment method, bank details, sales tax and VAT details and so on required for processing the single payment voucher. The data relating to Single Payment Vendors will be stored separately in a different table and available for inquiries and reports.

Vendor Inactivation

A new inactivation tool is available for inactivating unused vendors. It is possible to run the tool with a specified date and all vendors not used after such date will be inactivated and archived. It is possible to query on the archived vendors.

e.g. Run vendor inactivation tool with last used date being “10‐08‐2006” all vendors records not used after 10‐08‐2006 will be inactivated and moved to archive.

Electronic Invoices with XML format of OAG

Purchase Invoices can be uploaded into the voucher table using EDI or Peoplesoft XML formats. Support for OAG XML Standard has been provided. Voucher Build process can create vouchers electronically from all the interfaces such as XML, EDI, Procurement Cards, ERS and Quick Invoice. Peoplesoft 8.8 created a feature to load vouchers from all interfaces into a common set of staging tables from where voucher build can process and create vouchers.

Quick Invoice Templates

Two new quick invoice templates for Simple and Complete data entry. Both the templates provide defaults to reduce the data entry. Using the quick invoice templates large number of similar vouchers can be entered into the system. It is also possible to copy basic data from the Purchase Orders or Receipts and edit basing on the purchase invoices received from the suppliers.

New features in Version 8.8 ACCOUNTS PAPYABLE Vertex and Taxware Integrations

New pages added with dynamic fields showing Vertex and Taxware interfaces. If these products are not interfaced the relevant fields will not be displayed on the forms.

On‐demand processing

Voucher entry pages are updated with a new feature of On‐demand processing. Using this feature, for a single transaction e.g. a voucher matching can be initiated, voucher can be posted or asset update can be initiated directly from voucher entry pages. On‐demand processing can be controlled by the security and so the authority to post online can be given to defined users only.

Voucher Maintenance Updates

A new error correction component for voucher errors has been created replacing the Selective Line Update feature existing in the previous version. Voucher maintenance feature provides capabilities to search and locate errors. Once the erroneous lines are identified it is possible to reach a specific line or distribution that are in error and correct the same. The corrected vouchers will be edited buy the voucher build process. It is possible to do a Mass Maintenance of Vouchers to modify multiple vouchers at once. The mass corrections may deal with close, un‐post, delete and field replacement. e.g. If better payment terms are negotiated with a vendor and the new terms can be applied to all unpaid vouchers as well then payment terms can be replaced for all pending vouchers and discounts can be recalculated.

Bank Replacement Rules

It is possible to change the pay‐from Bank account basing on the payment or pay cycle maximums. It is possible to replace one bank with other or replace the bank for all payments of a certain currency.

Reporting and Analytical Support

Payables data can be analyzed using new graphical analysis tools. On the inquiry pages charts are added to provide a visual representation of payables data.

Other Enhancements

• Recurring pre‐payment vouchers • Rebate processing • HIPAA 820 Payment Formats • Rescheduled payment processing • Split‐funded Asset entry.


Matching

Matching functionality has been enhanced to have better control. Document Association feature replaced the Receipt aware criteria giving more flexibility to associate receipts with invoices. It is possible to define match rules to define what matching actions can be performed using such rule and automatic adjustment actions can be associated to the rules. It is possible to configure Summary Level Matching by comparing totals across the Purchase Orders, Receipts and Invoices. It is possible to configure automatic Debit Memo creation and the excess amounts billed on the invoices identified on matching can be converted into a debit memo for the suppliers automatically.

Match Workbench

A streamlined and user‐friendly interface to analyze all data relating to matching and discrepancies has been delivered with Peoplesoft Payables 8.9. Because of the centralized information it is possible to override exceptions, correct errors, create debit memos, put vouchers on match hold.

Invoice Entry

Spreadsheet Upload of Invoices In addition to the existing XML and EDI formats it is possible to upload invoices through Excel spreadsheets. The invoice details can be updated on a spreadsheet and upload into the interface tables. Voucher build process will post the data into the voucher tables. Summary Invoice Entry It is possible to create a summary invoice with basic data and voucher build process can create a full invoice.

Voucher Close

The Payables purchase order (PO) voucher close functionality gives the options to make further adjustments to a PO voucher transaction after it has been matched, budget checked, and posted. The PO voucher close functionality can restore the encumbrance and reopen a PO or to liquidate the remaining liability on a PO.

Other Enhancements

Archiving eSupplier Connection integration. Financial Gateway integration. Vendor rebate claims. Procurement cards. Work order integration.


Patriot Act Compliance

Peoplesoft Payables provides capabilities to validate the vendor name at multiple levels of a transaction cycle to comply with the financial sanction norms. Basing on the conformation from the validation, it is possible to set the status of the vendor as ‘Blocked’ or ‘Review’ and no payments can be processed for the vendors with such statuses in Peoplesoft.

Digital Signatures on electronic invoices

Electronic invoices or self service invoices can be uploaded into Peoplesoft payables and such invoices can be verified for Digital signatures. The digital signature verification take place using Cryptographic Tool kit of Bouncy Castle and Apache XML security library from Apache.

Voucher Enhancements

• The session default functionality was extended to support both the quick invoice and standard voucher pages.

• Users manually entering multiple distribution lines can now copy all ChartField values from another distribution line, thereby saving time during voucher entry.

• A new link on the voucher summary page provides quick access to voucher document status.

• Additional links on the Voucher Document Status inquiry and Payment Document Status inquiry pages provide visibility to related vouchers and canceled payments.

• The voucher page has a new related documents page, which provides visibility and quick access to all documents that are related to the voucher: purchase orders, receivers, payments, and any related vouchers.

• A new summary page for Sales/Use Tax provides all the tax details by line so that the user can see all the lines at a glance.

Payment Processing Enhancements

• Select multiple payments and can either cancel or escheat the selected payments all at once.

• Support pre‐notes for ACH payments to ensure the vendor bank account data is accurate before payment time.

Additional Enhancements

• Updating the existing SF‐224 Statement of Transactions reporting to comply with Financial Systems Integration Office (FSIO), formerly the Joint Financial Management Improvement Program (JFMIP), requirements for financial transaction processing for the U.S. Federal Government.

• Adding functionality to transmit your federal payments using the Secure Payment System (SPS) to comply with U.S. Treasury requirements.

New features in Version 8.8 BILLING

Invoice Reprint

Reprint invoices feature was enhanced with the following –

• Flexible selection capabilities such as selecting invoices for reprinting by due date, reprint only open invoices or reprint any past invoice and so on.

• A separate form to search for bills to reprint • Printing the selected bills from the Locate Bills form after

locating the bills meeting the selection criteria • Capabilities to select and reprint invoices from Peoplesoft

receivables item list.

Credit Card Interface Capabilities to have credit card interface with any card vendor are built into the Billing system. The interface can be XML based or through a third party – CyberSource.

Asset Management Interface

New Asset Management to Billing interface enables passing transactions for sale or retirement of assets from Peoplesoft Asset Management to Billing. The interface can generate accounting entries to relieve fixed assets and calculate applicable VAT. It is also possible to send Asset reinstatements as credit lines in Billing.

Pay/Bill Management Interface

It is possible to select the transactions in Peoplesoft Pay/Bill management module relating to purchase of staffing services which will enable tracking the customer invoices against PO s.

CRM Contract Management Interface

The details relating to bills stored in Peoplesoft Billing module can be viewed by the Peoplesoft CRM to provide 360‐degree customer view.


Summary Bills

It is possible to group billing information at the time of producing an invoice basing on the customer’s invoicing requirements. It is possible to create a summarization template and associate with invoice generation. It is possible to show all bill lines in an invoice or summarize and show a summary line.

Parallel bill creation and printing

It is possible the process multiple bills entered by billing specialists in parallel to finalize and print together.

Generate invoices enhancements

Billing can generate invoices containing progress payment and withholding lines, as well as create the appropriate accounting entries.

The ability to include progress payment and withholding lines on an invoice helps you comply with common requirements of contracts with the U.S. Federal Government.

Paperless Invoicing

A new process will prepare invoices for presentment through eBill Payment. This process can be added to the standard invoicing jobs so that paperless invoices are processed at the same time as printed invoices, or it can be run independently. The delivery preference setting for the customer, which the customer can change using eBill Payment, determines whether invoices will be delivered electronically or printed.


Billing worksheet enhancements

It is possible to select multiple worksheets for approval or deletion. Batch approval or deletion can also be set.

VAT Tax Declaration Point

In many countries, especially in the European region VAT tax declaration point of accounting need to be set. This helps in reconciliation between VAT returns and General Ledger. This is an accounting practice across multiple countries and also enforced in some countries by the tax authorities reduce tax accounting errors.

SDN Validation

The US OFAC requires verification of Customers with a Specially Designated National List. When the newly introduced Financial Sanctions Screen (FSS) process identifies a potential match in the SDN list and a customer name or address, the invoices relating to such customers will be associated with an error code and keep the bill on hold.

Invoice Generation

It is possible to generate and print invoices in Peoplesoft Billing using XML Publisher.

The invoice printing will use EDI 810 format and transforms the Peoplesoft messages relating to Invoices into EDI format for both XML and Flat file formats.

New features in Version 8.8 ACCOUNTS RECEIVABLE

Automatic Action Lists

It is possible to create action lists in Peoplesoft receivables and associate the responsible owners for the actions. The automatic action list can send reminders through e mail. It is possible to use a new third party Merkur software interface to send fax messages or electronic documents such as a statement of account or dunning letter. It is possible to place a customer on credit hold automatically basing on business rules attached to the action list. Flexible business rules that can be attached to an action list includes ‐

• The age and amount of a customer’s account that is past due.

• A customer’s balance is approaching their credit limit.

• A customer’s credit limit review date is approaching.

• A customer has exceeded their credit limit.

• A customer’s credit limit review date has passed.

• A conversation requires follow‐up.

• A customer has a credit hold message.

• A large amount is coming due.

• Items for a specified entry type and reason code reach a specific amount or age.

• A key statistic was exceeded.

Account Management enhancements

Account Overview feature will give a complete and accurate picture of the customer account in one location. All data relating to the customer pulled from different areas including the historical information and presented together.

New Customer Activity Inquiry can provide a chronological history of all transactions for a customer during a specified period of time.

Conversation Indicators

It is possible to associate external files with conversations relating to customers. This helps in creating a centralized customer document repository. It is possible to place conversation indicators on worksheets and the item list to increase the visibility and alert credit managers and AR specialists.

D&B Integration

It is possible to use the real‐time Dun and Bradstreet interface for getting customer credit information online. It is possible to load D&B data packets and reports and load the same directly into the customer tables at frequently to have real time data for better credit decisions.

Item Lists

It is possible to have flexible Item List layouts. This helps in having separate item list layout for credit managers, AR specialists, collectors and so on basing on their requirements. It is possible to view items for multiple customers in one integrated list.


Exception tracking and resolutions

It is possible to associate new deduction and dispute reason codes to exceptions and speed up resolutions by using item actions. Self‐service capabilities enable extension of resolution process beyond the finance department. This helps in bringing in the sales teams, brokers and the customers to bring quick and reliable closure to exceptional situations.

Automated Maintenance

New automated maintenance process provides capabilities to set up matching criteria and process attempts to match credits and debits based on field values. It is also possible to set up procedures for handling amount discrepancies within and beyond tolerances.

It is possible to define the business rules in receivables options using which item balances can be automatically written off.

Payment Worksheet enhancements

New enhanced payment worksheet allows inclusion or removal of items that relates to deductions or disputes. The enhanced worksheet enables cash appliers to create consistent and personalized payment worksheets showing the most relevant information sorted in a format most appropriate to the way in which they perform their tasks.

In the maintenance worksheets the items that should be matched together will be grouped by the worksheet build process.

On‐demand posting (real‐time)

In addition to scheduled Receivables Update run, it is possible to post critical transactions by running the AR Update on demand.

• Mass change capability.

• Improved pending item conversion.

• Group query for un‐posting.

• Payment Predictor append recovery.

• Improved error handling for the Receivable Update process.

• Support for deposits in transit.

• Archiving enhancements.

• Money transfer payment method.

• Open item processing.

• New Pending Item Entry pages.


Combination Editing

Receivables enable entry of valid combinations of ChartFields online. By using an appropriate entry reason and bring in additional ChartField values as needed to accurately describe the transaction. The Combination editing errors can be saved at the time of entering but cannot be posted until corrected or transactions can be processed and posted though a warning message appears while processing the transactions with wrong ChartField combinations.

Project ChartFields can be tracked on distribution lines to bring up appropriate details relating to projects at appropriate transaction levels.

Direct Debit Remittances

Receivables now provide two methods for remitting direct debits to the bank. You can generate an EFT file manually and submit it using third‐party integration or use the Financial Gateway feature in PeopleSoft Enterprise Cash Management to remit the direct debit to the bank. If you use Financial Gateway, you receive acknowledgement statuses from the bank. The EFT layout assigned to the bank on the External Accounts ‐ Collection page is associated with one of the two remittance methods. When you create a direct debit profile, the system populates the EFT layout based on the default layout assigned to the bank. You can override the EFT layout if desired. When you run the Create Direct Debit process (AR_DIRDEBIT), the system populates the EFT Layout Code field on the run control with the layout associated with the direct debit profile. You can override the layout if needed. The system uses the remittance method associated with the layout code to determine whether to remit the direct debits through Financial Gateway.

Other enhancements

• Accounting entry enhancements.

• Cash receipt processing.

• Vendor rebates and claim‐back processing.

• Commitment Control processing.

• Archiving.


Excel upload for Payments

It is possible to upload payments through Excel upload process. All payment details received either through an online banking system can be loaded into a formatted excel file and uploaded into Peoplesoft.

New Journal Generator Template

A new template had been added to the journal generator to process cash control entries. Direct journal entries and cash control journal entries are not linked anymore. e.g. if a user initiates the Journal Generator process and one or more payments in a cash control deposit have not been applied to open items, the Journal Generator process picks up the cash control entries and creates journal entries. Since the journal entries have been completed for the deposit, the user cannot delete or change the cash control deposit before using the Payment Worksheet to apply the payments to open items.

Un‐post Payments

It is possible to un‐post the payments when events occur across accounting periods.

The system uses the accounting date from an un‐post transaction as the new accounting date when an un‐posted payment is re‐applied to an open item. You can choose to override the accounting date on the Un‐post Groups ‐ Options page. When you override the accounting date on this page, the system issues a warning message that the accounting date on the payment will be changed. You may need this information if you have reports or custom queries based on the original payment accounting date.

Credit Card Payments A Credit Card Worksheet and a New Credit Card batch process have been added to process credit card payments against open items.

New features in Version 8.8 ASSET MANAGEMENT

FAS 52 and IAS 21.Support

Asset Additions, Adjustments and Retirements now are supported by the Transaction Currency extension meeting FAS 52 and IAS21 guidelines. Historical valuation of the asset transactions is possible and the incidental gain or loss can be recorded balancing the ledger. Enhanced transaction currency functionality supports:

• Addition, adjustment, and retirement transactions. • Conversion rates as of the transaction date for historical

valuation. • Conversion of transaction amounts to book base amounts.

Advance Correction Capabilities

At the time of closing the Periods posting of fixed asset transactions may go wrong. These errors are normally corrected through manual journal entries. The new enhancement for Close Reversal and Repost processing helps in entry of correction in Peoplesoft Asset Management after the close process has run and provides the ability to repost to the ledger.

Asset Insurance Information

Assets in business are normally insured. The details of insurance can be attached to the asset using the new enhanced feature of Asset Insurance. Details such as insured amount, insurer, and schedule for payment of premiums can be linked to a specific asset which gives instant access to the insurance information.

India Depreciation Indian Depreciation and Tax Reporting features support India’s straight line percent depreciation method and financial and tax reporting requirements.

Disposal Worksheet for retirement

The property accounting department processes asset retirements, which traditionally has been a manual, largely paper‐oriented, process to submit assets for retirement. The new Disposal Worksheet enables an asset owner to submit assets for retirement by using role based access to asset information.

Split fund asset entry

Integration to PeopleSoft Asset Management from PeopleSoft Payables and PeopleSoft Purchasing now provides a user friendly mechanism to associate multiple distribution lines to a single asset funded from multiple sources. The new Split‐Fund Asset Entry feature eliminates user intervention to submit subsequent processes. Split‐fund asset entry enables a data‐entry person to easily identify multiple distribution lines to a single to‐be‐assigned asset ID at the time of receipt or invoice. Enabling a new sequence number that is subordinate to the asset ID enables you to identify multiple departments or locations that are sharing the cost of assets without maintaining separate asset IDs and records.


Spreadsheet Upload

To facilitate importing new assets into PeopleSoft Asset Management, due to an acquisition or data conversion, our new spreadsheet upload provides a spreadsheet template to organize asset data and upload assets to PeopleSoft Asset Management.

Integration with Billing

New integration to PeopleSoft Billing automates invoicing when assets are sold, Eliminating redundant data entry in PeopleSoft Billing and completing an automated closed loop process to sell assets from PeopleSoft Strategic Sourcing auction sites.

Online Inquiry Pages

New online inquiry provides immediate access to asset depreciation, cost, and accounting details. Access is configurable, enabling property accounting to selectively push information out to asset owners.

Identifier for Hazardous Assets

The hazardous asset feature identifies hazardous assets with a hazardous asset indicator.

Other Enhancements Dynamic Accounting Entry Templates Archive Asset Transaction Data


Asset Repository Manager

Centralized asset storage and management is critical to efficiently managing the complete lifecycle of all asset types. Asset Management 8.9 introduces the Asset Repository Manager to accommodate all asset classes: IT, property, and plant equipment with complete operational and financial data. Assets can be associated with represent a hierarchical schema, such as components of plant equipment, or a structural breakdown of properties, such as a building as floors and office spaces. The hierarchical display of assets can be viewed graphically by associating the highest‐level asset to its subordinate child and component assets. The repository houses a complete history of acquisition details, maintenance history, and cost history for each asset over its operational life.

Asset attributes are expanded to accommodate the variety of asset types in your asset portfolio. Enhanced warranty tracking supports blanket warranties for assets from the same manufacturer and warranty templating associates an asset to a predefined warranty during asset creation. To support PeopleSoft Enterprise Maintenance Management 8.9, equipment parts lists and preventive maintenance schedules can be created for a single asset or groups of like assets. Assets can now be associated with a meter and lifetime meter readings can be recorded to track usage and trigger maintenance events. Additionally, property taxes can now be captured and tracked for property assets.

Asset Sub‐types and custom attributes

New in Asset Management 8.9 is the ability to assign asset types and subtypes to the assets in the Asset Repository. You can also define custom attributes for assets. You can define a unique attribute to suit your asset portfolio, and then see it in the basic information component on the Location/Comments/Attributes tab of the Basic Asset Add page.

Third party CAFM Integration

Asset Management 8.9 specifically integrates with third‐party CAFM (computer‐aided facilities management) solution provider to:

• Report employee’s change of location, location assignments for new employees, and available space left by employees no longer in service.

• Update Asset Repository tables with property asset information and changes to spaces, and attach asset information assigned to properties.

• Receive updates with space allocation per department and business unit in order to charge the departments proportionally for the space they occupy.


Meter Readings

Asset Management 8.9 introduces asset meters, a table associated with an asset that enables you to maintain a record of the readings along the asset’s life and associate them to the services and repairs performed to that asset.

Multi GAAP Support

Asset Management 8.9 uses book code functionality in the new Book Code Distribution Group page to define a set of book codes to be used when distributing accounting entries for multiple GAAPs within one book. Using the book code distribution group restricts the duplication of accounting entries being passed to PeopleSoft General Ledger.

Chartfield Mapping

To meet these unique requirements, Asset Management 8.9 created ChartField mapping templates to provide more flexibility in assigning offsetting accounting entries, eliminating manual journal entries and custom modifications previously required by higher education customers. Enabled by business unit, use the new ChartField Mapping Template page, where you can define ChartField values and the appropriate corresponding mapping values. This solution not only enables customers to comply with standards without customization but also enhances the higher education customer’s total ownership experience.


IAS 16 Compliance

Release 9 for PeopleSoft Asset Management offers enhanced compliance capability for International Accounting Standards (IAS). The IASB has mandated that companies move toward undertaking fair value accounting by 2007. Specifically, IAS 16 states that after the initial recognition of an asset, property, plant and equipment should be valued using one of the following two methods:

• Cost, less accumulated depreciation and any accumulated impairment losses

• Revalued amount, less subsequent accumulated depreciation and any accumulated impairment losses. The revalued amount is the fair market value at the date of revaluation.

Enterprise Asset Management Release 9 automates the process for revaluing assets in accordance with IAS 16, which increases efficiency and thereby reduces costs.

To automate the valuation of assets in accordance with IAS 16, the following new functionality has been added:

• Track the fair market value (FMV) of assets to be used in the revaluation process.

• Ability to write off accumulated depreciation of assets at the time of revaluation.

IAS 16 requires that the accumulated depreciation of assets at the time of revaluation be written off to calculate accurate cost and revaluation surplus. Asset cost must be revalued accordingly as long as the FMV of an asset is greater than its NBV.

Depreciation Enhancements

Book Control Enterprise Asset Management 9 includes a new Adjustment transaction convention and a Depreciate When in Service switch within the Asset Profile to enable interfacing transactions from Enterprise Purchasing, Payables and Project Costing to obtain the adjustment convention from the Book definition, thus facilitating smoother integration without manual intervention. The new Adjustment Convention allows customers the flexibility to identify the convention that should be used for adjustment transactions at the Asset Profile level and this convention default is used throughout Asset Management as well as interfacing products that create adjustment transactions.

The Depreciate When in Service option is a new designation available within the Asset profile and is set when the asset is created for greater efficiency when interfacing from Payables and Purchasing.


Depreciation Enhancements (Contd….)

Depreciation Reporting Performance Improvements One of the challenges for many financial systems is to provide fast and accurate reporting capabilities. Enterprise Asset Management 9 addresses this challenge by providing extensive performance improvements to the depreciation reporting load process. During the initial testing, results showed that processing time was reduced significantly as a result of design modifications and the use of set based processing.

Depreciation Analysis and Review Enterprise Asset Management 9 provides the ability to perform what‐if depreciation scenarios for all assets, including those that are transferred in from other business units. The depreciation status of an asset is also displayed within the depreciation review components to help managers determine whether an asset needs further attention (due to under‐depreciation, and so on.).

Operational attributes and non‐financial assets

The new Define Asset Operational Information component is designed specifically for operations and maintenance users to efficiently add and maintain non‐financial assets and their physical information without the complication of financial information. This new functionality enhances the O&M user experience while allowing the finance department complete control over the financial information.

Additionally, non‐financial assets, such as non‐capital equipment and components, can be copied to create large numbers of similar non‐financial assets using the Copy Asset functionality.

Component Hierarchy

Prior to Enterprise Asset Management 9, the delivered component hierarchy feature allowed for a visual hierarchy of all asset components. Users who do not have access to edit the hierarchy may be allowed to view the asset component hierarchy in the original component. The new Manage Component Hierarchy menu allows users who have security access to manipulate and transfer the components among various assets. The new, simplified user interface enables assets to be moved up or down, indented or out dented for ease of recording component change outs and transfers.

PeopleSoft Asset Management 9 also provides a new crystal report listing the assets that were moved within the component hierarchy.

Configurable attributes

Asset Attribute Groups have been added in PeopleSoft 9 to allow users to add several fields for capturing customer‐specific information. This could include miscellaneous information like nameplate information, production data, facility information, engineering specifications, regulation requirements, horsepower, voltage, and so on. These fields are grouped for easy navigation and clearly defined context to form an Attribute Group.

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