Closing a fiscal period

AM170 edits and releases all the unreleased asset processing done during the current period and transfers journal entries to the General Ledger. You must run AM170 before you can continue with closing the fiscal period.

Part 32 book calculations are based on General Ledger account balances. Consequently, before you perform calculation depreciation for Part 32 books, you should ensure the General Ledger asset accounts are updated by running Journal Posting (GL190). For asset class depreciation, correct implementation is critical to avoid over-depreciation. If you use this feature, you must strictly follow the one-on-one correlation between a type and the set of General Ledger accounts used by an asset class. For example, you should not set up class-depreciated assets that use the same asset account (that is, company, accounting unit, account) but have different accounts for depreciation expense and accumulated depreciation. In addition, when multiple class depreciation books are used, all assets belonging to an asset class (referencing the same asset account) must use the same class depreciation book.

Specify this information:

Book, Book Group

To run AM180, you must specify a book or a book group. AM180 then calculates the current period's depreciation for the book or book group you selected.

Company, Company Group

You must specify the company or the company group for the book or book group.

Classification

Select whether you want to calculate depreciation on all assets (A), purchased assets only (P), or capitalized leased assets only (C).

Compute Option

Select whether you want to calculate depreciation for all assets (A), calculate depreciation for all assets added or changed since the last run of this program (S), or list assets and depreciation amounts without updating the amounts (L).

Specify this information:

Release

To review the journal entries before they are posted to the General Ledger, select No with Error Report (N) in this field and run AM190. AM190 will produce a list of journal entries and an error report, but will not post to the General Ledger. At this point you can still revise the asset records and correct errors if necessary.

To post journal entries to General Ledger with depreciation amounts and close the period, and create an error report, select Yes with Error Report in this field and run AM190.

Note: The Yes With Error Report option can impact the run time and performance of AM190. Consider your time constraints and the number of assets before you select the Yes With Error Report option.

You can also select Yes without Error Report, which posts journal entries to General Ledger with depreciation amounts and closes the period without the error report.

Running AM190 with the Release field set to Yes is irreversible. Ensure you are ready for this step.

Book, Book Group

Select a book or a book group.

Company, Company Group

Select a company or a company group.