Regardless of the Date of Purchase or Fiscal Year basis assigned to any depreciation method, you must set up all Fiscal Year/Period/Subperiod data in Costpoint General Ledger for at least the current fiscal year. You should, at a minimum, enter data for the current fiscal year and data for the next two future fiscal years in Costpoint Fixed Assets to enable current period depreciation expense calculations. In addition, for assets having a depreciation method based on Date of Purchase, historical fiscal years and periods should be set up in Costpoint Fixed Assets back to the earliest Depreciation Start Date of assets that are still depreciating. (Setting up historical Fixed Assets Years and Periods is important for other reasons as well. The historical years and periods are used for many Fixed Assets reports that provide asset cost and accumulated details going back to the Acquisition Fiscal year and Period of asset records.)

During the Fixed Assets posting process, the system always validates data on the Configure Posting Settings screen against the Fiscal Year/Period/Subperiod General Ledger data.

The Fixed Assets Calendar menu consists of three screen selections, as follows:

• Manage Fixed Assets Fiscal Years
• Manage Fixed Assets Accounting Periods
• Update FA FY/Pd Information from GL FY/Pd Information

The system uses data from these screens to compute depreciation expense for the current accounting period and for future accounting periods. The Compute/Update Depreciation Computation Data utility also uses data from these screens to compute values for the Current Depr Yr and Days/Pds Remaining fields in the Asset Master records. (During the Fixed Assets posting process, however, the system always validates data on the Configure Posting Settings screen against Fiscal Year/Period/Subperiod data in the General Ledger.)

The system uses future fiscal year/period data for both current and future period depreciation calculations.

If you also enter historical fiscal year/period data in these screens, you can use the Compute/Update Depreciation Computation Data utility to verify (and optionally update) the Current Depr Yr and Days/Pds Remaining fields of your historical assets based on the Depr Start Date. Regardless of the Date of Purchase or Fiscal Year basis assigned to any depreciation method, you should, at a minimum, enter data for the current fiscal year and data for the next two future fiscal years in Costpoint Fixed Assets to enable current period depreciation expense calculations.

To use the projections functionality, you should add fiscal year/accounting period data for each future year for which you will compute projected depreciation expense.

You can manually enter this data on the Manage Fixed Assets Fiscal Years screen and the Manage Fixed Assets Accounting Periods screen. Alternately, you can use the optional Update FA FY/Pd Information from GL FY/Pd Information process to automatically populate these screens with fiscal year/accounting period data already existing in Costpoint General Ledger.

It is likely, however, that you will have only the current fiscal year and accounting periods established in Costpoint General Ledger. In this event, you should manually enter data for the next two future fiscal years on the Manage Fixed Assets Fiscal Years screen and the Manage Fixed Assets Accounting Periods screen. When data for the fiscal year and accounting periods are set up in Costpoint General Ledger (after it has been established in Costpoint Fixed Assets), make sure that you review the parallel data in Fixed Assets to ensure that there are no discrepancies.