How is the fiscal year/accounting period setup data from this screen used in Fixed Assets?

Costpoint uses the data from this screen when computing both current and future period depreciation and when running certain reports and any special-purpose utility that is driven by depreciation computations.

Current Period Depreciation Calculations

Incorrect data or blanks may display in the Current Pd Depreciation field(s) of your new Asset Master records if you do not set up this data before computing depreciation.

In some circumstances, the system immediately displays a soft warning message when you open the Compute Depreciation screen which says that you have assigned a Date of Purchase basis to one or more depreciation methods on the Manage Depreciation Methods screen. The message also tells that you have selected Catch-Up calculation option on the Configure Fixed Assets Settings screen that adds missed depreciation for prior periods in the current year to the current period depreciation amount.

The message will tell you that in order to ensure the proper calculation of depreciation under these conditions, make sure that you have first set up historical fiscal year and period data on this screen, Manage Fixed Assets Fiscal Years and on the Manage Fixed Assets Accounting Periods screen. Please refer to the documentation for these screens for additional information.

You should set up Fiscal Year/Period data for each year specified in the depreciation start date assigned to your Asset Master records (for which there is remaining book value). Be sure to INSERT the earlier fiscal years into the screen, Manage Fixed Assets Fiscal Years, instead of using the New Line function.

Alternately, if you do not want to add historical fiscal year and period data on the Manage Fixed Assets Fiscal Years and Manage Fixed Assets Accounting Periods screens, you can change the Catch-Up calculation option on the Configure Fixed Assets Settings screen to spread missed depreciation for prior periods among the remaining periods in the current year (the Spread Among Remaining Periods in PY or FY option).

Projected Depreciation Expense Calculations

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

Reports

For reports that display data for prior years/periods, fiscal year/accounting period data must be added to the Fixed Assets years and periods in order for the reports to properly display asset data. For example, some reports will not include assets in the data until the asset’s acquisition Fiscal Year/Period falls within the report parameters. If the Fixed Assets historical year and period information do not include the asset’s acquisition year/period, the asset will not be included in data displayed on the report.

Calculations on the Compute/Update Depreciation Computation Data Utility

If you plan to use the Compute/Update Depreciation Computation Data utility to verify (and optionally update) data in the Depr Start Date, Curr Depr Yr, and Days/Pds Remaining fields for your historical assets, you must also set up Fiscal Year/Period data for the historical fiscal years that correspond to the Depr Start Date fields in your Asset Master records.

If this data is missing, blanks will display in the report produced by this utility (in the Curr Depr Yr and Days/Pds Remaining fields) for any record for which no corresponding Fiscal Year/Period data is found in Costpoint Fixed Assets for the fiscal year indicated in the Depr Start Date fields.