All depreciable entries and non-depreciable entries for which you have selected the Post Disposal to G/L check box on the Manage Asset Master Information screen or the corresponding check box on the Manage Asset Description Information screen are posted to the General Ledger for the current fiscal year, period, and subperiod displayed on the Configure Posting Settings screen. Only one Fixed Assets period can be opened and designated as "current" at any given time. (You must enter current fiscal year, period, and subperiod information on the Configure Posting Settings screen before you can print or post.)

After you post for the first time, you will not be able to change either the fiscal year or the period on the Configure Posting Settings screen. In addition, once you close a Fixed Assets period, you cannot reopen it to add additional data or make changes to existing data. (You can, however, make applicable corrections or additions in the next accounting period, or you can reverse a current period depreciation and/or disposal posting in the current period.)

As a result, it is very important that you:

• Check the settings on the Configure Posting Settings screen before you post the Fixed Assets Journal for depreciation, disposals, and/or transfers for the first time;
• Calculate and post depreciation for the current period before you run the period close process.

• Post all disposals for the current period before you run the period close process.

For all depreciable records and non-depreciable entries for which the Post Disposal to G/L check box has been selected on the Manage Asset Master Information screen or on the Manage Asset Description Information screen, the Fixed Assets Journal is posted to the General Ledger for only the G/L Book. There are no G/L entries for optional Books 2 to 10.

Each G/L entry is identified in the Fixed Assets Journal by a four-letter type code: depreciation expense entries are labeled "DEPR"; disposals are labeled "DISP"; depreciation adjustment entries in conjunction with disposals are labeled "DADJ"; and transfer entries are labeled "TRF".

Reversing entries in the current period are posted from the Reverse Posted Fixed Assets Entry screen, in which depreciation reversals are labeled "RDEP", disposal reversals are labeled "RDIS", and depreciation adjusted related to disposals are labeled "RDAD". There is no code for a transfer reversal, because you would simply make an additional transfer ("TRF") to reverse a previous transfer.

Steps that the system completes when:

1. Posting depreciation expenses for depreciable assets

   The system completes the following steps when posting depreciation expenses for depreciable assets:

   • The system calculates the amount to post by subtracting the Amount Posted Curr Pd from the Current Pd Depreciation. (Both fields are located in the G/L Book Info tab of the Manage Asset Master Information screen and on the Manage Asset General Ledger Book Information screen). Posting will not take place if the amounts in the Amount Posted Curr Pd from the Current Pd Depreciation fields both contain zeroes or if the amounts are equal.
   • A debit amount is normally posted to one or more depreciation expense account/organization/project/reference1/reference2 combination(s) specified by the depreciation expense allocation code assigned to the Asset Master record. The debit amount(s) calculated for posting is based on the percentage allocated to each account when you set up your depreciation expense account allocation codes during initialization.
   • A credit amount is normally posted to the accumulated depreciation account/organization/project/reference1/reference2 combination specified by the accumulated depreciation account code assigned to the Asset Master record.
   • The amount posted is added to or deducted from the cumulative total in the Amount Posted Curr Pd field in the G/L Book Info tab of the Manage Asset Master Information screen and on the Manage Asset General Ledger Book Information screen.
2. Posting disposals and depreciation adjustments for depreciable assets
   The system completes the following steps when posting disposals and depreciation adjustments for depreciable assets:

   • A credit amount is normally posted to the asset account/organization/project/reference1/reference2 ("ownership") combination specified in the asset account fields in the Acct Info tab of the Manage Asset Master Information screen to reverse the cost of the asset.
   • A debit amount is normally posted to the accumulated depreciation account/organization/project/reference1/reference2 combination specified by the accumulated depreciation account code assigned in the Acct Info tab of the Manage Asset Master Information screen to reverse the total accumulated depreciation of the asset.
   • The book value amount is normally posted to the gain/loss account as a gain (debit) or a loss (credit), as appropriate, as the balancing entry. (Note that the amount posted is not necessarily the gain/loss amount that displays in the disposal transactions entry screens.)
   • Disposal information and posting data are written back to the Disp Info tab of the Manage Asset Master Information screen and the Manage Asset Disposal Information screen.
   • If a depreciation adjustment was entered for the disposal on either of the disposal entry screens, the system posts a separate DADJ entry to the General Ledger. This entry posts a debit amount (if the adjustment was positive) or credit amount (if the adjustment was negative) to one or more depreciation expense account/organization/project/reference1/reference2 combination(s) specified by the depreciation expense account allocation code assigned to the Asset Master record. The amount(s) calculated for depreciation expense posting is based on the percentage allocated to each account when you set up your depreciation expense account allocation codes. This entry also posts a debit or credit amount to the accumulated depreciation account/organization/project/reference1/reference2 combination specified by the accumulated depreciation account code assigned to the Asset Master record.
   • Disposal and depreciation adjustment data is cleared from the Manage Disposal Transactions screen when the posting process is complete.
   • The record status on the Manage Asset Master Information screen and on the Manage Asset Description Information screen is changed from Active to Disposal.
3. Posting disposals for non-depreciable assets for which Post Disposal to G/L check box has been selected
   The system completes the following steps when posting disposals for non-depreciable assets for which the Post Disposal to G/L check box has been selected on the Manage Asset Master Information screen and the Post Disp to G/L check box has been selected on the Manage Asset Description Information screen:

   • A credit amount is normally posted to the asset account/organization/project/reference1/reference2 combination specified in the asset account fields in the Acct Info tab of the Manage Asset Master Information screen to reverse the cost of the asset.
   • A debit amount is normally posted to the specified gain/loss account/organization/project/reference1/reference2 combination.
   • Disposal data is cleared from the Manage Disposal Transactions screen when the posting process is complete.
   • The record status on the Manage Asset Master Information screen and on the Manage Asset Description Information screen is changed from Active to Disposal.
   • Disposal information, such as date and description, is written back to the Asset Master record in the Disp Info tab of the Manage Asset Master Information screen and on the Manage Asset Disposal Information screen.
4. Posting disposals for non-depreciable assets for which Post Disposal to G/L check box is clear

   • The system completes the following steps when "posting" disposals for non-depreciable assets for which the Post Disposal to G/L check box is clear on the Manage Asset Master Information screen and on the Manage Asset Description Information screen:

   • Disposal data is cleared from the Manage Disposal Transactions screen when the posting process is complete.
   • The record status of the Manage Asset Master Information screen and on the Manage Asset Description Information screen is changed from Active to Disposal.
   • Disposal information, such as date and description, is written back to the Asset Master record in the Disp Info tab of the Manage Asset Master Information screen and on the Manage Asset Disposal Information screen.

You can have the system automatically generate transfer entries for posting to the G/L when you make changes to the asset ("ownership") account, organization, and/or project fields and/or the Accumulated Depreciation Account Code fields in any Asset Master record screen.

In order for the system to capture change data for posting transfer entries, you must first make certain selections on the Configure Asset/Template Change Settings screen before you make changes to Asset Master records.

Selections

• Select the Asset Master Records check box in the Write Change Details to Audit Log for group box to indicate if you want the system to write change details to an audit log for changes made to Asset Master record and/or Asset Template record selected fields. Because the system uses change history data from the audit log to create transfer entries for posting to the G/L, you must select this check box to save changes, even if this is not your preference.
• Make selections as appropriate for the following fields/columns in the Asset/Template Field/Column Names subtask:
• Asset Account
• Asset Organization
• Asset Project
• Accum Depr Account Code
• Make selections in the Create Transfer Entries for Posting to G/L group box, as desired.

  You can select check boxes to create transfers for posting for changes to the Asset "ownership" account, organization, and project, and/or the Accum Depr Acct Code field.

  Normally, when you make a change to asset "ownership" or accumulated depreciation for balance sheet accounts, you must also make a "re-class" journal entry in the General Ledger to record the transfer of ownership. If you select the Asset ("ownership") account, organization, project, and/or reference number fields check box, the enabled transfer functionality automatically replaces the need for a manual journal entry.

  You can also select an option related to posting transfers for Accum Depr Acct Code changes. If the change in Accum Depr Acct Code field involves no change in the associated account, organization, and/or project, you can choose not to have the system create a transfer entry for posting, or to have the system automatically create a transfer entry for posting.

  There may be occasions in which you have assigned a different accumulated depreciation account code to a record, but the new code uses the same account, organization, and/or project as the old code; you may have made the change to assign a more meaningful code to the record or for any other reason. If there is no change to the accumulated depreciation account, organization, and/or project, there is no need for a re-classification journal entry, and therefore no need for the system to create an automatic system transfer entry.

Provided you have properly selected the check boxes on the Configure Asset/Template Change Settings screen and you have chosen the appropriate transfer options on this screen, the system will automatically include transfers entries for posting to the General Ledger.

Please refer to the documentation for the Configure Asset/Template Change Settings screen for additional information.

Before posting, you must print the Fixed Assets Journal. You can print the Journal in either detail or summary format when you either select or leave the Print Detail Journal by Asset/Item No check box clear. The Journal provides supporting detail for your journal entries, and should be retained as part of the system audit trail. (You can always print reports for all posted transactions, "after-the-fact," in both summary and detail format for one, a range of, or all prior periods, if needed.)

Although you must print the Journal before posting, you can also print the Journal without posting, to review and correct data. If you exit from the screen or change your selections, however, you must print the Journal again before you will be allowed to post.

You can also update the Open Billing Detail table with depreciation expense data during a Fixed Assets posting if specific conditions are met at time of posting, as follows:

• If the account to which depreciation will be posted has been associated with a Project Account Group that has been assigned a Labor or Non-Labor function;

  (Although a labor account is considered inappropriate for charging depreciation expense, note that there are no Fixed Assets rules regarding the types of accounts to which deprecation can be posted.)

• If the project to which depreciation will be posted has been set up as a billable project in the Project Billing Master at that project level or higher; and
• If the Proj Billing Info record is transaction-based.

Please refer to the documentation for the Manage Open Billing Detail screen in Costpoint Billing for more detailed information.

You can post depreciation, disposals, and transfers only to the current fiscal year, period, and subperiod combination designated on the Configure Posting Settings screen. After you close the Fixed Assets period, you cannot reopen it for any reason. If you have never posted depreciation or disposals, you can still change the current fiscal year or period on the Configure Posting Settings screen. After you post for the first time, however, you will not be able to modify the current fiscal year or period. (The subperiod to which entries will be posted always remains editable on the Configure Posting Settings screen before you run the Posting process.)

In addition, once you close a Fixed Assets period, you cannot reopen it to add additional data or make changes to existing data. You can, however, make applicable corrections or additions in the next accounting period, or you can reverse a current period depreciation and/or disposal posting in the current period.

Identification

Use the fields in this block to create a new parameter ID or to retrieve a previously saved parameter ID. A parameter ID represents a set of screen selection parameters. After you have saved a parameter ID and its related parameters, you can retrieve them using Query.

You can use the retrieved parameters to produce reports and run processes more efficiently and with greater consistency. The saved parameters are also useful and necessary when you want to run the process as part of a batch job. Many users save a unique set of parameters for each different way they run a report or process. When you select a previously saved parameter ID or parameter description, the associated saved screen selection parameters automatically display as selection defaults. The page setup and print options, if there are any, are also included in the saved parameter ID. You can change any of the associated selection defaults as necessary.

Current F/A Period Information

Current F/A Info for Posting

The fields in this group box are non-editable. Because only one accounting period can be opened and designated as "current" at any given time in Fixed Assets, you can only post entries to the G/L for the fiscal year, period, and subperiod combination displayed on the Configure Postings Settings screen.

Options

Select F/A Entry Type(s) to Post

Use this group box to choose which type of entry to post. All three check boxes in this group box are clear as default, and you can select one, two, or all check boxes. In order to post, you must select at least one check box.

F/A Journal Print Option

Allow Posting To Projects Outside Period of Performance

Select the Allow Posting To Projects Outside Period of Performance check box to enable Costpoint to continue posting transactions to projects when the transactions fall outside of the project's period of performance. Costpoint will notify you when the projects are outside of their period of performance.