There are situations where you want to change PeopleSoft System default date format
Please follow the steps given below:
1. Navigate, Root > People Tools > Personalization > Personalization Options > Search
Here, you will get the option for the different application for which you want to change the Date Format or you can also choose PPTL (People Tools) which change the Date Format in the Tools itself. Select, PPTL.
2. Now, you can see there is a Definition---> DFRMT, for the Date Format.
3. On the Top of this page and beside the Definition Tab, you will find the Format Tab, just click on this Tab.
4. Now, click on the "Set Option Default Value".
5. Change the Option Default Value as per your requirement MMDDYY and click OK.
6. Save the changes
PeopleSoft Date Function and Consideration
http://www.mybasicknowledge.com/2012/08/peoplesoft-date-function-and.html