Closing an asset period

Before you close an asset period, you must release assets and run the Asset Depreciation Calculation and List. If depreciation approval is enabled at the company level, the depreciation must be approved by the approver before the period is closed.

To close an asset period:

Select Assets > Monthly Processing > Close Period.
Specify this information:

Finance Enterprise Group

Specify the name of the finance enterprise group.

Update

If No With Error Report is selected, errors are validated and listed in the Errors tab of the processing results. The period is not closed, and records are not updated.
If Yes No Error Report is selected, errors are not validated, the period is closed, and no error report is generated. We recommend this option if errors are identified and fixed already or if no changes were made to the account or dimension status or to valid pairs, or if the No With Error Report has already been used.

If Yes With Error Report is selected, errors are validated and are listed on the Errors tab in the processing results, and the period is closed.

Display Transaction Currency

Select this option to show all values in the Transaction currency. Clear this option to show all of the values in the Book currency.

Book

Specify the book or the book group, but not both.

Book Group

Specify the book or the book group, but not both.

Company

Specify the company or the company group, but not both.

Company Group

Specify the company or the company group, but not both.

Posting Date

If the posting date is not specified, then the current period end date is the default value. If the posting date is specified, it must be in range between the current period begin date and current period end date.

Number Of Threads

Specify the number of threads to run concurrently. To establish the default number of threads, see Creating configuration parameters for the number of threads for close period.
Click Submit.

Note: To view the status of an asset, select Assets > Processing Results.