Review Open Transactions - 24a

Purpose: Use this document as a reference for how to review Open Transactions

Audience: Finance Staff

Asset Open Transaction Review and Processing

Asset management records are any kind of action that may generate an accounting entry related to an asset as an Open Transaction. These include things like asset additions, retirements, adjustments, and recategorizations. 

The Open Transaction Review Screen

  1. Open Transactions are listed on this screen and have three statuses that indicate their overall processing completeness:
    • Depreciation Calc Status – Indicates whether Depreciation Calculation has been run for a particular Open Transaction.  Open Transactions must go through Depreciation Calc before being processed further.
    • Acctg Entry Creation Status – Indicates whether the Open Transactions has been picked up by the Create Accounting Entries process in AM.  Create Accounting Entries must be run before an Open Transactions can be picked up by Journal Generation.
    • Reporting Process Status – AM stores asset depreciation and cost information is separate reporting tables.  The Load Reporting Table processes must be run for an Open Transaction before it will be reflect in reports or queries generated off those reporting tables.
  2. You can use these statuses to filter out a subset of Open Transactions for review.  
Find an Existing Value tab
  1. If you want to start processing new Open Transactions, you will first want to run the “Depreciation Calculation” process.

The Depreciation Calculation Process

  1. Depreciation Calculation can be run for an entire Business Unit or for a range of Asset ID values. PeopleSoft will only run the Depreciation Calculation on Open Transactions that have not already been processed. The screenshot below is an example of a Run Control that will run Depreciation Calculation for all assets for WA170 for asset book WACTC (we currently only use this one asset book).
Depreciation Calculation
  1. Once Depreciation Calculation has been run, you can perform the next processing step which will be to run the “Create Accounting Entries” process in AM.


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