Contents
Fixed Assets Period End & Depreciation
Updated
by Caroline Buckland
The Process
A Fixed Assets financial year can be split into 12 or 13 periods. At the end of each period throughout the useful life of an asset, the system will use the depreciation method assigned to the asset to automatically calculate the depreciation applicable for the period.
The process Advanced Financials uses to update the register at the end of a period is FI1. Attaching parameters to a request for this process will enable you to advance the period for a specific book. This involves depreciation calculation, updating totals and, for the historic book only, postings for the General Ledger.
All assets are assigned a life, during which time it is expected that they will contribute value to the company. Each period end run will reduce the remaining useful life assigned to an asset by one period.
A report can be produced by the Period End process if required.
Running Period End
Access the following menus:
Fixed Assets>FA Processes>Asset Maintenance>Submit FA Period End
The following screen is displayed.
Enter the company code and the Historic book ID, pressing enter on the keyboard will default the current year and period.
Select a report level:
- No report
- Detailed
- Summarised
Click on the SUBMIT button followed by SUBMIT again.
Review the Report
Access the following menus:
Systems Admin>Spool
Click on OK to retrieve a list.
You can view each individual report by clicking on the View Document icon, or by clicking the Paperclip icon.
Spool report from View Document action.
Paperclip report example.
