Costpoint Online Help

Using the Help Search
Using the Help Search
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Step 16: Configure Posting Settings

Specify the current Fixed Assets fiscal year, period, and subperiod to which depreciation and disposal data will be posted to the General Ledger. Unlike the rest of Costpoint, there can only be ONE fiscal year, period, and subperiod designated as current in Fixed Assets.

Decisions relative to the field entries on this screen are very important to system processing. Once data is entered in these fields and the first posting has taken place, you will need to run a special process to close the Fixed Assets (F/A) accounting period. The F/A period close process will automatically populate these fields with the next sequential fiscal year/period.

The system validates the fiscal year, period, and subperiod on this screen against existing data in the General Ledger, because these fields are used in the very important posting process to the General Ledger.

The Manage Fixed Assets Fiscal Years and Manage Fixed Assets Accounting Periods screens should agree with data in the General Ledger, but if there is a discrepancy, the system will validate against G/L data.

You cannot change the data in the Current Fiscal Year and Current Period fields after you have posted depreciation and/or disposal entries to the General Ledger for the first time. You should be very careful to initialize these fields correctly. You can change the Current Subperiod field at any time, because it relates only to the posting timing.

During the F/A period close process, the system will automatically populate the Current Subperiod field on this screen with 1 as the default subperiod. If you have set up more than one subperiod, you can always edit this field to specify in which of your subperiods F/A postings should take place.

Note: Historical depreciation is usually 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 the Current Fiscal Year and Current Period fields on this screen (as well as your historical data) before the first posting to the G/L takes place.