Conversion and/or Interface of Lease Asset into AM/LA 'Shared Functionality'
We are implementing PeopleSoft Asset Management and we are at a cross road with respect to one question.
For conversion of Lease Assets which approach offers the path of least resistance. Taking into consideration assets needs to be converted into the new AM/LA Shared Functionality to meet GASB 87 new accounting standards. No we are not implementing LA module.
Should lease assets be converted directly into AM/LA modules OR should lease assets be converted into ‘classic’ AM (prior to shared functionality) and lease tables them walk thru Shared Functionality Activity Guide to transition converted leases into LA?
Thanks for your time