POST FIXED ASSETS JOURNAL

Use this screen to post depreciation expense, disposals, and related depreciation adjustments and/or transfer entries to the General Ledger for depreciable assets. You can also use this screen to post disposals for non-depreciable assets. Although posting a disposal for a non-depreciable record will update the General Ledger only if you selected the Post Disposal to G/L check box on the Manage Asset Master Information screen or the Post Disp to G/L check box on the Manage Asset Description Information screen, general disposal data, such as disposal date and description, will be written to and will display in the Disp Info tab of the Manage Asset Master Information screen and on the Manage Asset Disposal Information screen.

You can also update the Open Billing Detail table with depreciation expense data during a Fixed Assets posting if specific conditions are met at the time of posting.

Only G/L Book data for eligible depreciation and disposals transaction can be posted to the General Ledger. Although depreciation and disposal data can be created for and written to the Asset Master records for other books, no posting takes place.

All depreciable entries and non-depreciable entries for which you have selected the Post Disposal to G/L check box on the Manage Asset Master Information screen or the corresponding check box on the Manage Asset Description Information screen are posted to the General Ledger for the current fiscal year, period, and subperiod displayed on the Configure Posting Settings screen. Only one Fixed Assets period can be opened and designated as "current" at any given time. (You must enter current fiscal year, period, and subperiod information on the Configure Posting Settings screen before you can print or post.)

After you post for the first time, you will not be able to change either the fiscal year or the period on the Configure Posting Settings screen. In addition, once you close a Fixed Assets period, you cannot reopen it to add additional data or make changes to existing data. (You can, however, make applicable corrections or additions in the next accounting period, or you can reverse a current period depreciation and/or disposal posting in the current period.)

You cannot close the period if depreciation has been calculated but not posted; you can, however, close the period without computing depreciation. Make certain that your internal procedures check for this possible omission.

When you enter a disposal on the Manage Disposal Transactions screen, you can select the record for posting or place the record on hold. The system will not allow you to close the period if a pending disposal for an Asset Master record has been selected but not posted.

For all depreciable records and non-depreciable entries for which the Post Disposal to G/L check box has been selected on the Manage Asset Master Information screen or on the Manage Asset Description Information screen, the Fixed Assets Journal is posted to the General Ledger for only the G/L Book. There are no G/L entries for optional Books 2 to 10.

Each G/L entry is identified in the Fixed Assets Journal by a four-letter type code: depreciation expense entries are labeled "DEPR"; disposals are labeled "DISP"; depreciation adjustment entries in conjunction with disposals are labeled "DADJ"; and transfer entries are labeled "TRF".

Reversing entries in the current period are posted from the Reverse Posted Fixed Assets Entry screen, in which depreciation reversals are labeled "RDEP", disposal reversals are labeled "RDIS", and depreciation adjusted related to disposals are labeled "RDAD". There is no code for a transfer reversal, because you would simply make an additional transfer ("TRF") to reverse a previous transfer.

Depreciation adjustments are always identified separately from disposals during the posting process. If you select the Disposals check box on this screen, however, depreciation adjustments entered with disposals on the Manage Disposal Transactions screen will automatically be included in the posting process for selected disposals. (The term "depreciation adjustment" as used in this documentation refers only to an adjustment to depreciation entered in conjunction with disposal entries.)

The system completes the following steps when posting depreciation expenses for depreciable assets:

The system calculates the amount to post by subtracting the Amount Posted Curr Pd from the Current Pd Depreciation. (Both fields are located in the G/L Book Info tab of the Manage Asset Master Information screen and on the Manage Asset General Ledger Book Information screen). Posting will not take place if the amounts in the Amount Posted Curr Pd from the Current Pd Depreciation fields both contain zeroes or if the amounts are equal.
A debit amount is normally posted to one or more depreciation expense account/organization/project/reference1/reference2 combination(s) specified by the depreciation expense allocation code assigned to the Asset Master record. The debit amount(s) calculated for posting is based on the percentage allocated to each account when you set up your depreciation expense account allocation codes during initialization.
A credit amount is normally posted to the accumulated depreciation account/organization/project/reference1/reference2 combination specified by the accumulated depreciation account code assigned to the Asset Master record.
The amount posted is added to or deducted from the cumulative total in the Amount Posted Curr Pd field in the G/L Book Info tab of the Manage Asset Master Information screen and on the Manage Asset General Ledger Book Information screen.

The system completes the following steps when posting disposals and depreciation adjustments for depreciable assets:

A credit amount is normally posted to the asset account/organization/project/reference1/reference2 ("ownership") combination specified in the asset account fields in the Acct Info tab of the Manage Asset Master Information screen to reverse the cost of the asset.
A debit amount is normally posted to the accumulated depreciation account/organization/project/reference1/reference2 combination specified by the accumulated depreciation account code assigned in the Acct Info tab of the Manage Asset Master Information screen to reverse the total accumulated depreciation of the asset.
The book value amount is normally posted to the gain/loss account as a gain (debit) or a loss (credit), as appropriate, as the balancing entry. (Note that the amount posted is not necessarily the gain/loss amount that displays in the disposal transactions entry screens.)
Disposal information and posting data are written back to the Disp Info tab of the Manage Asset Master Information screen and the Manage Asset Disposal Information screen.
If a depreciation adjustment was entered for the disposal on either of the disposal entry screens, the system posts a separate DADJ entry to the General Ledger. This entry posts a debit amount (if the adjustment was positive) or credit amount (if the adjustment was negative) to one or more depreciation expense account/organization/project/reference1/reference2 combination(s) specified by the depreciation expense account allocation code assigned to the Asset Master record. The amount(s) calculated for depreciation expense posting is based on the percentage allocated to each account when you set up your depreciation expense account allocation codes. This entry also posts a debit or credit amount to the accumulated depreciation account/organization/project/reference1/reference2 combination specified by the accumulated depreciation account code assigned to the Asset Master record.
Disposal and depreciation adjustment data is cleared from the Manage Disposal Transactions screen when the posting process is complete.
The record status on the Manage Asset Master Information screen and on the Manage Asset Description Information screen is changed from Active to Disposal.

The system completes the following steps when posting disposals for non-depreciable assets for which the Post Disposal to G/L check box has been selected on the Manage Asset Master Information screen and the Post Disp to G/L check box has been selected on the Manage Asset Description Information screen:

A credit amount is normally posted to the asset account/organization/project/reference1/reference2 combination specified in the asset account fields in the Acct Info tab of the Manage Asset Master Information screen to reverse the cost of the asset.
A debit amount is normally posted to the specified gain/loss account/organization/project/reference1/reference2 combination.
Disposal data is cleared from the Manage Disposal Transactions screen when the posting process is complete.
The record status on the Manage Asset Master Information screen and on the Manage Asset Description Information screen is changed from Active to Disposal.
Disposal information, such as date and description, is written back to the Asset Master record in the Disp Info tab of the Manage Asset Master Information screen and on the Manage Asset Disposal Information screen.

The system completes the following steps when "posting" disposals for non-depreciable assets for which the Post Disposal to G/L check box is clear on the Manage Asset Master Information screen and on the Manage Asset Description Information screen:

Disposal data is cleared from the Manage Disposal Transactions screen when the posting process is complete.
The record status of the Manage Asset Master Information screen and on the Manage Asset Description Information screen is changed from Active to Disposal.
Disposal information, such as date and description, is written back to the Asset Master record in the Disp Info tab of the Manage Asset Master Information screen and on the Manage Asset Disposal Information screen.

Before posting, see Related Topic , Creating and Posting Disposals. This special topic provides a more detailed explanation of the effect of depreciation adjustments on the General Ledger and the mechanism for posting disposals. It also includes examples of posted disposals and depreciation adjustments.

You can have the system automatically generate transfer entries for posting to the G/L when you make changes to the asset ("ownership") account, organization, and/or project fields and/or the Accumulated Depreciation Account Code fields in any Asset Master record screen.

In order for the system to capture change data for posting transfer entries, you must first make certain selections on the Configure Asset/Template Change Settings screen before you make changes to Asset Master records.

Select the Asset Master Records check box in the Write Change Details to Audit Log for group box to indicate if you want the system to write change details to an audit log for changes made to Asset Master record and/or Asset Template record selected fields. Because the system uses change history data from the audit log to create transfer entries for posting to the G/L, you must select this check box to save changes, even if this is not your preference.
Make selections as appropriate for the following fields/columns in the Asset/Template Field/Column Names subtask:
Asset Account
Asset Organization
Asset Project
Accum Depr Account Code
Make selections in the Create Transfer Entries for Posting to G/L group box, as desired.

You can select check boxes to create transfers for posting for changes to the Asset "ownership" account, organization, and project, and/or the Accum Depr Acct Code field.

Normally, when you make a change to asset "ownership" or accumulated depreciation for balance sheet accounts, you must also make a "re-class" journal entry in the General Ledger to record the transfer of ownership. If you select the Asset ("ownership") account, organization, project, and/or reference number fields check box, the enabled transfer functionality automatically replaces the need for a manual journal entry.

You can also select an option related to posting transfers for Accum Depr Acct Code changes. If the change in Accum Depr Acct Code field involves no change in the associated account, organization, and/or project, you can choose not to have the system create a transfer entry for posting, or to have the system automatically create a transfer entry for posting.

There may be occasions in which you have assigned a different accumulated depreciation account code to a record, but the new code uses the same account, organization, and/or project as the old code; you may have made the change to assign a more meaningful code to the record or for any other reason. If there is no change to the accumulated depreciation account, organization, and/or project, there is no need for a re-classification journal entry, and therefore no need for the system to create an automatic system transfer entry.

Provided you have properly selected the check boxes on the Configure Asset/Template Change Settings screen and you have chosen the appropriate transfer options on this screen, the system will automatically include transfers entries for posting to the General Ledger.

Before posting, you must print the Fixed Assets Journal. You can print the Journal in either detail or summary format when you either select or leave the Print Detail Journal by Asset/Item No check box clear. The Journal provides supporting detail for your journal entries, and should be retained as part of the system audit trail. (You can always print reports for all posted transactions, "after-the-fact," in both summary and detail format for one, a range of, or all prior periods, if needed.)

Although you must print the Journal before posting, you can also print the Journal without posting, to review and correct data. If you exit from the screen or change your selections, however, you must print the Journal again before you will be allowed to post.

If the posting process aborts before completing successfully, you must restart it using the same login as the original user. For example, if user B restarts a posting that failed for user A, user B will receive an error message.

You can also update the Open Billing Detail table with depreciation expense data during a Fixed Assets posting if specific conditions are met at time of posting, as follows:

(Although a labor account is considered inappropriate for charging depreciation expense, note that there are no Fixed Assets rules regarding the types of accounts to which deprecation can be posted.)

Please refer to the documentation for the Manage Open Billing Detail screen in Costpoint Billing for more detailed information.

You can post depreciation, disposals, and transfers only to the current fiscal year, period, and subperiod combination designated on the Configure Posting Settings screen. After you close the Fixed Assets period, you cannot reopen it for any reason. If you have never posted depreciation or disposals, you can still change the current fiscal year or period on the Configure Posting Settings screen. After you post for the first time, however, you will not be able to modify the current fiscal year or period. (The subperiod to which entries will be posted always remains editable on the Configure Posting Settings screen before you run the Posting process.)

In addition, once you close a Fixed Assets period, you cannot reopen it to add additional data or make changes to existing data. You can, however, make applicable corrections or additions in the next accounting period, or you can reverse a current period depreciation and/or disposal posting in the current period.

You can post G/L Book data only for eligible depreciation, disposals, and transfer transactions to the General Ledger. Although depreciation, disposal, and transfer data is created for and written to for other books, no posting takes place.

Identification

Use the fields in this block to create a new parameter ID or to retrieve a previously saved parameter ID. A parameter ID represents a set of screen selection parameters. After you have saved a parameter ID and its related parameters, you can retrieve them using Query.

You can use the retrieved parameters to produce reports and run processes more efficiently and with greater consistency. The saved parameters are also useful and necessary when you want to run the process as part of a batch job. Many users save a unique set of parameters for each different way they run a report or process. When you select a previously saved parameter ID or parameter description, the associated saved screen selection parameters automatically display as selection defaults. The page setup and print options are also included in the saved parameter ID if there are any. You can change any of the associated selection defaults as necessary.

Parameter ID

Enter, or click to select, a parameter ID of up to 15 alphanumeric characters. Choose characters for your parameter ID that help identify the type of selections you made in the screen, such as PERIOD or QUARTERLY.

When you save your record, all the selections made in the screen are stored with the parameter ID. Later, you can retrieve the parameter using Query.

You can use the parameter to run the process more efficiently because you can select the parameter ID with its previously defined screen selections. After the default selections display in the screen, you can override the defaults.

Description

Enter, or click to select, a parameter description of up to 30 alphanumeric characters.

Current F/A Period Information

Current F/A Info for Posting

The fields in this group box are non-editable. Because only one accounting period can be opened and designated as "current" at any given time in Fixed Assets, you can only post entries to the G/L for the fiscal year, period, and subperiod combination displayed on the Configure Postings Settings screen.

You cannot change the fiscal year or the period on the Configure Posting Settings screen after the first posting. After you post for the first time, only the Subperiod field is editable. The system automatically increments the Fiscal Year, Period and Subperiod fields, as applicable, when you run the Close Fixed Assets Accounting Period process. (The Subperiod field always defaults as "1".) It is therefore very important to ensure that the fiscal year and period entered on the Configure Posting Settings screen are correct before you post for the first time.

Fiscal Year

The current fiscal year from the Configure Posting Settings screen displays in this non-editable field. This is the fiscal year to which all entries will be posted for this posting session. The fiscal year on the Configure Posting Settings screen can only be changed before you post for the first time.

Period

The current period from the Configure Posting Settings screen displays in this non-editable field. This is the period to which all entries will be posted for this posting session. The current period on the Configure Posting Settings screen can be changed only before you post for the first time.

Subperiod

The current subperiod from the Configure Posting Settings screen displays in this non-editable field. This is the subperiod to which all entries will be posted for this posting session. When you run the Close Fixed Assets Accounting Period process, "1" always defaults into the Subperiod field on the Configure Posting Settings screen. If you have more than one subperiod per period, and you do not want to post all entries for this posting session to Subperiod 1, you should return to the Configure Posting Settings screen and change the subperiod before posting.

Options

Select F/A Entry Type(s) to Post

Use this group box to choose which type of entry to post. All three check boxes in this group box are clear as default, and you can select one, two, or all check boxes. In order to post, you must select at least one check box.

If you have selected both the Depreciation and the Disposals check boxes, depreciation entries will be posted before disposal entries during the posting process.

Depreciation

Select this check box to post current period depreciation expense entries for the G/L Book (Book 1). You can post depreciation expense many times in the current period for the same asset. As long as the current period depreciation for the asset is not equal to the amount posted, the system posts an entry for the difference between the two amounts to the General Ledger for Book 1. Depreciation expense posted from data in Asset Master records will be posted and identified as distinctive "DEPR" entries in the General Ledger.

Disposals

Select this check box to post current period selected disposal entries for the G/L Book (Book 1). You can post a disposal only once. Disposals entered and selected on the Manage Disposal Transactions screen will be posted and identified as distinctive "DISP" entries in the General Ledger. Any depreciation adjustments entered for these disposals on the Manage Disposal Transactions screens will be posted and identified as distinctive "DADJ" entries (along with the associated disposal "DISP" entries) in the General Ledger.

If the disposal entry was created for a non-depreciable asset for which the Post Disposal to G/L check box was left clear on the Manage Asset Master Information screen, posting the disposal updates the Asset table, but does not affect the General Ledger. Although non-depreciable records with no postings do not print in the Journal, you must still print the Journal first to post entries. If all the disposals are for non-depreciable assets only for which the Post Disposal to G/L check box is clear, "No records found" will print in the Journal, but the system will still update the tables with the proper disposal data when you post.

Transfers

Select this check box to post current period transfer entries for the G/L Book (Book 1). You can post multiple transfer entries in the current period for the same asset. Eligible transfers will be posted and identified as distinctive "TRF" entries in the General Ledger.

Before posting transfer entries to the General Ledger from data existing in the Asset Audit Log, you must first make changes to the Asset "ownership" account, organization, and project, and/or the Accum Depr Acct Code field, as appropriate.

You can view transfer data on the View Asset Change History screen to determine if changes to the Asset "ownership" Account, Organization, Project, and/or the Accum Depr Acct Code field exist as unposted transfers by selecting the Asset ("ownership") account, organization, project, and/or reference number fields or the Accum Depr Acct Code fields check boxes.

You can post multiple transfers entries in the current period for the same active, depreciable record.

F/A Journal Print Option

Print Detail Journal by Asset/Item No

This check box is clear by default. If you leave this check box clear, the Fixed Assets Journal will print only a summary report of debit and credit totals for each account/org/project combination. Select this check box to print a detail report that includes a breakdown of each debit and credit by asset/item number for each account/organization/project.

A reconciliation report automatically prints for both the detail and summary journal report formats. The reconciliation report summarizes the posted amounts by the type of entry, including Depreciation, Disposals, Depreciation Adjustments on Disposals, and Transfers.