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Cost Balancing Fluid WorkCenter

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The Cost Balancing Fluid WorkCenter was delivered without a lot of fanfare. However, it is very useful for those that deal with inventory cost accounting.

The Cost Balancing Fluid WorkCenter provides everything needed to address the cost accounting business processes. Users can deal with issues associated more on the inventory side such as putaway not completed, demand not depleted, and negative inventory. Also included is everything needed on the accounting side, such as transactions not costed, accounting lines not created, accounting line errors, accounting not posted to the GL, etc.

The Cost Balancing Fluid WorkCenter includes alerts associated with issues in the overall cost accounting process. It also contains links to execute associated work and reports etc.

Of course, the Cost Balancing Fluid WorkCenter has other standard features embedded with related actions. Additionally, it has the ability for personalization (as covered in our prior blog).

For any organization that deals with inventory cost accounting, this WorkCenter is a must use.

If you would like more information on FLUID or WorkCenters, please email me at Larry.zagata@miproconsulting.com.

It’s not too late to implement PeopleSoft Lease Administration for January 1, 2019 and be ready for the new ASC 842 & IFRS 16 accounting rules!

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The deadline for compliance with the new ASC 842 & IFRS 16 rules is fast approaching. My headline is a bold statement, but it can hold true if you can answer yes to the following questions:

  1. Have you already identified all your leases, including the payment schedules?
  2. Do you already have your new lease accounting policies in place?
    • How will your leases be valued: Gross, Net, Triple Net and Practical Expedient?
    • Have you quantified the straight-line accounting impacts?
  3. Do you know which accounts on your balance sheet and P&L you will be using?
    • For some organizations, moving to the new standards may require setting up new accounts.

If you have answered yes to the above questions or if you are substantially on your way to completing those tasks, then you are a good candidate to begin implementing PeopleSoft Lease Administration and be live on 1/1/2019. From a business user’s perspective, those 3 questions can be 75% – 80% of the upfront effort required. Once you have that lease information in place, your project implementation team will have what they need to setup Lease Administration and have the system ready for testing with plenty of time for a 1-1-2019 go-live.

Implementation

Certainly the timing for a 1-1-2019 go-live will be tight. Keep implementation simple and strictly focused on meeting the new accounting standards. Lease Administration has many other features for enhanced notifications, etc. By keeping your focus on the accounting entries, you will be just fine. As delivered Lease Administration provides effective internal controls. Any other features, bells, & whistles you wish to bring up should be slotted for a phase II (post go-live). This will greatly minimize any potential critical path issues.

Although my three questions above are clearly high level, they do serve as an excellent guideline. If you have already tackled these questions, then a big piece of your preparation effort has already been completed. However if your organization has not substantially answered these questions, then beginning a new implementation for a 1-1-2019 go-live would clearly have its challenges.

In conclusion, it is still possible to begin a PeopleSoft Lease Administration project and be live on 1-1-2019. For organizations that are not ready at all, I will cover this in my next Blog “You can still go-live with PeopleSoft Lease Administration after 1-1-2019 and meet the new accounting standards”.

Thank you for reading and be sure to read our other Lease Administration Blogs.

Steven Brenner, CPA
Senior Principal Consultant
MIPRO Consulting

Personalization of Fluid WorkCenters

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You have the ability to personalize Fluid WorkCenters just like personalizing Classic WorkCenters is also possible. As a refresher, previously we wrote the following three-part blog series on the personalization and configuration of Classic WorkCenters: https://blog.miproconsulting.com/2017/03/configuration-of-workcenters/ https://blog.miproconsulting.com/2017/04/workcenter-configuration-part-2/ https://blog.miproconsulting.com/2017/04/pagelet-personalization/ As seen below, the GL Fluid WorkCenter has Scope enabled providing for specific content to be displayed […]

Fluid Treasury WorkCenter

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The Classic Treasury WorkCenter has been around for some time and includes the standard components. The Fluid Treasury WorkCenter is delivered in FSCM Image 28. The WorkCenter has the typical MY WORK, LINKS, QUERIES and REPORTS/PROCESSES. Users have the ability to utilize either the Classic WorkCenter or the Fluid WorkCenter. Additionally, if you would like […]

Match Delay Days

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Struggling with a large number of match exceptions?  Don’t forget about the setting Match Delay Days to hold off the No Receipt Found match exception. This setting will also reduce the match exception noise and allow for shipping transit days.  Often times this particular match rule is the highest match exception among all of the […]

Long Live Elasticsearch!

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As of the 1st of May 2018, Elasticsearch is the only search engine supported for PeopleSoft 9.2 applications and it is the only search engine that can be used with PeopleTools 8.56. Oracle’s Secure Enterprise Search (SES) is no longer a supported option for use with PeopleSoft. Oracle posted a reminder on their blog; https://blogs.oracle.com/peopletools/elasticsearch-the-only-search-engine-supported-for-peoplesoft-as-of-may-1st. […]

Oracle Open World 2018 Registration is Open!

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Registration for Oracle Open World 2018 is open. San Francisco will be rocking from Monday, October 22nd through Thursday, October 25th. There are a couple of items to note about Oracle Open World this year (in case you have an early OOW notification). First, the date for Open World has been changed. The new dates […]

PEOPLESOFT IS ALIVE AND WELL

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ORACLE LIFETIME SUPPORT POLICY Did you hear? Oracle announced a change to the Oracle Lifetime Support policy for PeopleSoft applications that further illustrates their commitment to PeopleSoft.  As of June 2018, Oracle has no plans to end PeopleSoft investment or support. Oracle has adjusted the Oracle Lifetime Support policy and intends to provide Premier Support […]

PeopleSoft Innovators

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Congratulations to the newest PeopleSoft Innovators! While attending Quest’s Collaborate 2018, Rebekah Jackson, VP PeopleSoft Strategy & Product Management, announced the latest organizations who earned recognition as PeopleSoft Innovators. The group included three of MIPRO’s customers: Adventist Health System, Black Hills Corporation and Intermountain Healthcare. While MIPRO was not directly involved in the innovations these […]

The Mystery of the Missing Equipment Parts List

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A while back I shared the not-so-hidden treasure of Equipment Parts List (EPL) (click here if you missed the blog). I found that many users were creating very broad lists that really didn’t allow them the most effective use of the functionality or lists would be created, but when trying to tie it to an […]

Preventive Maintenance Linking Schedule

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Preventive Maintenance Linking functionality allows for multiple preventive maintenance jobs for the same asset to be structured in such a way as to avoid multiple work orders and overlap of the same steps. Let’s take an HVAC unit for example. A quarterly job may be to do a general overview of the equipment and to […]

It takes too long!!! Advanced Line Search is Here to Help!

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In PeopleSoft 9.2, an Advanced Line Search feature was added to address the search issue for both requisitions and purchase orders. One of the things that I hear quite often is people complaining that it takes too long to load a requisition or purchase order when they want to review or work on a particular […]