Contents of the Manage Fixed Assets Fiscal Years Screen
Use the fields and options to configure the Manage Fixed Assets Fiscal Years Screen. You can manually enter and edit this data or you can optionally run a process from the Update FA FY/Pd Information from GL FY/Pd Information screen to automatically populate this screen with fiscal year data that already exists in the General Ledger.
The system accesses the fiscal year/accounting period data when computing current period and/or projected depreciation and when creating certain reports.
You should set up fiscal year (as well as accounting period data on the Fixed Assets Accounting Periods screen) before you compute the current period or projected depreciation expense, create Fixed Assets reports, run certain system utilities, or post depreciation to the General Ledger.
You should, at a minimum, enter data for the current fiscal year and data for the next two future fiscal years to enable current period depreciation calculations. If you do not set up this information before you compute depreciation, incorrect data may display in your Asset Master records after the system has computed depreciation.
In some circumstances, you should also enter historical and/or future fiscal year data. See FAQ, "How is the fiscal year/accounting period setup data from this screen used in Fixed Assets?" for more information.
Table Window
| Field | Description |
|---|---|
| Fiscal Year |
Enter the fiscal year. Provide data for the current fiscal year and at least two future fiscal years. To enable the projected depreciation functionality, you should enter all future fiscal years for which you want to compute projected depreciation. To create Fixed Assets reports, you should enter all previous years (and periods) for which assets exist. Alternately, you can run the process from the Update FA FY/Pd Information from GL FY/Pd Information screen to import fiscal year data already existing in Costpoint General Ledger. In some circumstances, you should also enter historical fiscal year data. See the FAQ,"How is the fiscal year/accounting period setup data from this screen used in Fixed Assets?" for more information. |
| Description |
Enter the description for this fiscal year. Alternately, you can run the process from the Update FA FY/Pd Information from GL FY/Pd Information screen to import fiscal year data already existing in Costpoint General Ledger. After the data is imported to this screen, you can edit this field as desired. Edits to the description after import will have no effect on depreciation computations, or posting and closing processes. |
| Pds In DP Year |
Enter the number of periods in the purchase year for assets whose start date is in this fiscal year. The only accepted values are "01" through "18". The purpose of this field is to provide the system with information to assist in depreciation calculations should the number of periods per fiscal year change as the result of an acquisition, re-organization, or fiscal year shift. An unusual event of this nature will only be experienced by a very small number of users. You must initialize this field even if you currently do not use any depreciation methods that are based on Date of Purchase methodology. For the majority of users, the value in this field will match the number of periods in the fiscal year. Note: If you have initialized a fiscal year on this screen by running the process from the Update FA FY/Pd Information from GL FY/Pd Information screen to import existing fiscal year and accounting period data from Costpoint General Ledger, the system will count the number of accounting periods in the fiscal year and populate this field with the count results as a default.
If you run the Update FA FY/Pd Information from GL FY/Pd Information process and only the fiscal year has been set up in Costpoint General Ledger (and not the accounting periods), the system will populate this field with "1" as a default. In this event, you will, in most cases, want to change the value in this field to match the number of periods in your fiscal year. Warning: Edits to this field for any other reason should be made with extreme caution. Changes to this field can significantly affect depreciation calculations and produce unexpected results.
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