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• Fixed Assets Processing
Chapter 19 – Fixed Assets
Asset Period Closing and Reopening
If you have many assets, and/or you have long-lived assets, the processing of transactions can start to take more and more time. To speed up processing time, you can optionally close periods.
The period close allows you to:
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Calculate depreciation totals for a specific period and store them per asset
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Keep history while improving efficiency when calculating depreciation totals
The depreciation calculation uses totals from the last period close and calculates the remaining period totals onward. When you next close, the system calculates up to the new period and stores totals.
The Period Close, as with the option to freeze periods, requires restrictions to modifications to assets that would affect their depreciation totals.
Note that the period close feature is optional. You do not have to use it. If your transaction processing time is not onerous, you do not need to use this feature.
You have the option of reopening closed periods, and then closing them again.
You use three functions to process:
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Asset Period Close
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Reopen Closed Periods
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Close Reopened Periods
You access these functions via the Transactions...Fixed Assets menu, or via the system tree Fixed
Assets...Transactions node. Note that these functions do not display on the system tree.
