Asset Lifecycle Management - PSFT (MOSC)

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Can we create assets in the Tax Book and not the Corp Book?

edited Jan 30, 2023 9:57PM in Asset Lifecycle Management - PSFT (MOSC) 1 commentAnswered

PeopleSoft Financials 9.20 Image 41, Tool 8.59.06

We are wanting to only create assets in the Tax Book, (this is for tax purposes) but not in the Corp Book. There is new regulations that would require this for our tax team. We are looking for the best approach to handle this.

Sec. 174. Amortization of Research And Experimental Expenditures: https://irc.bloombergtax.com/public/uscode/doc/irc/section_174?_gl=1*y5xnk6*_ga*NjA1MjMzNjI4LjE2NzQ4NTg5NjM.*_ga_SYRX6EC8NJ*MTY3NDg1ODk2Mi4xLjAuMTY3NDg1ODk2Mi42MC4wLjA.

It looks like this is available under Oracle Fusion Assets, but I don't see any help for PeopleSoft Financials Asset Mgmt.

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