Integrating with Close Management

Asset Management can be integrated with Close Management.

Calendar

Before integrating Asset Management with Close Management, ensure that the calendar setup is consistent. The period frequency defined in Asset Management must match the period frequency used in Close Management.

Asset Book and Close tasks

Close tasks can be associated with one or more Asset books. When a Close task is assigned to an Asset Book, the Close task is updated with the HasAssetBook flag set to True. When the Close task is changed or removed, the Close task is updated with the HasAssetBook flag set to False if there are no other Asset Books that have a task assigned to it.

For Asset Books used for impairment, a Close task cannot be assigned.

Asset Book Calendar

When an Asset Book Calendar is created for an Asset Book that already has a Close task, the Close task is automatically set as the default for the Book Calendar. The Close task can be edited or removed at the calendar level. A Close task can also be assigned to a Book Calendar when none is currently associated.

Updates made to a Close task do not cascade between the Asset Book and the Asset Book Calendar. Changes made in one location do not update the corresponding task in the other.

If an Asset Book is used for Impairment, a Close task cannot be assigned to the Book Calendar.

For Calculate Depreciation:
  • If the Close task is already open and scheduled, a process owner is required. The depreciation process cannot run if the assigned Close task does not have an owner.
  • After Calculate Depreciation completes, the associated Close period task is automatically moved to In Process status.
  • If the Close task is associated after depreciation has already been run, the Close period task is not updated. In this case, the user must manually start the Close period task in Close Management.

For Close period, the assigned Close task must be scheduled and open for work in the same period in Close Management.