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.

How do the fields on this screen differ from Fiscal Year/Period functionality in Costpoint General Ledger?

The major difference in FY/Pd behavior in Costpoint Fixed Assets is based on the requirement that only one fiscal year, period, and subperiod can be designated as current and open for the Fixed Assets module. In Costpoint General Ledger, the availability to timing periods is controlled by the user and not stipulated by the system. As a result, multiple time periods can be available for posting and so on in Costpoint General Ledger.

If you find that you have made an error in a prior Fixed Assets period that is already closed and therefore not "current," you cannot re-open that period (as you can in the General Ledger). In Fixed Assets you will need to make corrections for one or more prior periods in the current period.

Although you set up and maintain FY/Pd data for Fixed Assets on the Manage Fixed Assets Fiscal Years and Manage Fixed Assets Accounting Periods screens, the system always validates the current data on the Configure Posting Settings screen against the General Ledger tables before posting. Specifically, the system validates that the Fiscal Year/Period/Subperiod is valid, open, and available for Fixed Assets postings.

Where do data on this screen display within the Fixed Assets module?

Current period data from this screen automatically displays in the following screens to remind you of the current Fixed Assets Fiscal Year/Period/Subperiod:

• Compute Depreciation
• Post Fixed Assets Journal
• Reverse Posted Fixed Assets Entry
• Close Fixed Assets Accounting Period
• New Asset Master records as automatic defaults for the Acquisition Fiscal Year and Acquisition Period

Posting Info

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.