Closing an asset short year

  1. Select Close Processing > Short Year Close.
  2. Specify this information:
    Update
    Select Yes to update all asset additions, adjustments, transfers, and disposals for the company or company group.
    If you select No, then a report is created, including the journal entries, but the assets remain outdated.
    Books
    Select up to five books.
    New Year End Date
    Select up to five new year end date for closing an asset short year. Specify this for each book that you have selected.
  3. In the Report Distribution section, select a distribution group and export type for Asset Short Year Close Report.
  4. Click Submit.