Peoplesoft conversion of speedchart to accounting tag

My organization is going through a PUM update (23-34). As part of the update, I have learned that Peoplesoft is replacing speed chart with accounting tag. My customer's have over 150,000 active speed charts.

My question is this:

When the PUM is implemented will the speed charts convert to accounting tags? Or, will my organization/customers need to close the speed charts and open the new replacement accounting tags? Or will Peoplesoft convert the data as part of the PUM upgrade?

Thank you in advance.

Respectfully,

Jen Stenjem

State Accounting Office