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[Vanessa Aragon]

Hello,

We haven’t performed the year end closing procedures for the fixed asset module for 2016. We have started to enter new assets dated 2017 but have not performed any depreciation for 2017.

Does anyone know if there is a problem with this, or any issues that we may encounter?

I’m hesitant to start the close process if this might be an issue.

Thanks!

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Vanessa Aragon
New Century Health
Brea CA
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[Jo deRuiter]

As long as you have already setup 2017 as a year (and the quarters)…. this is usually already there because of the initial setup of the calendar, then you should have no difficulty. 

FA posts to specific periods based on your selections on depreciation.  However, if you need to retire any old assets for 2016 before you depreciate you will have to close 2016.

By the way – you can go ahead and close 2016 in FA without having to close it for the GL.

Let me know if you have any further questions on that.

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Jo deRuiter
Lead Techno Functional Consultant
Aisling Dynamics Consulting
Canton GA
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[David Clayton]

Hi Vanessa,

Go to the book window for the asset.

Cards > Fixed Assets > Book

Choose a new asset and drill down on the cost basis.  This detail screen will show you the year and period to which the assets have been booked.

I would generally recommend closing the fiscal year for the fixed assets module before adding assets and booking depreciation for the new year.

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David Clayton
DMC Consultants Limited
Kingston, Jamaica
http://www.dmcjm.com
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