to select, the fiscal year that should display as the "current" fiscal year in this field.Use this screen to specify the current Fixed Assets fiscal year, period, and subperiod at time of initialization. This data is used by the system when computing depreciation and when posting Fixed Assets data to the General Ledger.
Once you have initialized the fields on this screen and posted depreciation or disposals or transfer entries to the General Ledger for the first time, the system will block the Current Fiscal Year and Current Period fields and no further edits will be permitted (except to the Current Subperiod field).
Initialize this screen once during setup, before you compute depreciation for the first time.
If you use Date of Purchase depreciation methods, make sure that you have first initialized data on the Manage Fixed Assets Fiscal Years and Manage Fixed Assets Accounting Periods screens for all fiscal years that correspond to the data in the Depr Start Date field.
Once this screen is initialized and the first posting has occurred, edits are only permitted in the Current Subperiod field. When you run the Close Fixed Assets Accounting Period process, the system will automatically update the fields on this screen with the correct sequential fiscal year/period/subperiod data.
Decisions relative to the field entries on this screen are very important to system processing. You should be very careful to initialize these fields correctly. Historical depreciation is often entered based on a pre-determined "live" date that corresponds with the date that balance sheet amounts were "frozen" for data entry. If your initialization date slips, which is often the case, you should make certain that you adjust these fields and your historical data before the first posting to the G/L takes place.
Where do data on this screen display within the Fixed Assets module?
Use the fields in this data block to initialize data for the first time.
When you enter data in this field for the first time, the system displays a warning message when you save. The message informs you that only the subperiod can be manually changed. The Close Fixed Assets Accounting Period process automatically updates the fields in this block.
Once you have made your first posting to the General Ledger, you can only view the data in the Current Fiscal Year and Current Period fields and edit the data in the Current Subperiod field.
For first-time use, enter, or click to select, the fiscal year that should display as the "current" fiscal year in this field.
Depreciation, transfer and disposal entries will be posted to the fiscal year that displays in this field.
Once you have made your first posting to the General Ledger, you can only view the data in this field, as the process run from the Close Fixed Assets Accounting Period screen automatically updates this non-editable information.
For first-time use, enter, or click to select, the accounting period that should display as the "current" accounting period in this field.
Depreciation , transfer and disposal entries will be posted to the accounting period that displays in this field.
Once you have made your first posting to the General Ledger, you can only view the data in this field, as the process run from the Close Fixed Assets Accounting Period screen automatically updates this non-editable information.
For first-time use, enter, or click to select, the subperiod that should display as the "current" subperiod in this field.
Depreciation and disposal entries will be posted to the subperiod that displays in this field.
The process run from the Close Fixed Assets Accounting Period screen automatically updates this information. You can change this field as often as desired.