MAINTAIN FA FISCAL YEARS

Use this screen to maintain fiscal years and fiscal year descriptions. Set up this required screen during initialization and update it as necessary.

The setup data in this screen is effective across all companies and is not company-specific. If you have set up multiple companies in Costpoint, employees from all companies can enter, view, and use the data in this screen, regardless of company login.

You can manually enter and edit data in this screen or you can use the optional Update FA FY/Pd Info from GL FY/Pd Info process to automatically populate this screen with fiscal year data already existing in Costpoint General Ledger.

Note:  Although you set up and maintain FY/Pd data for Fixed Assets in the Maintain FA Fiscal Years and Maintain FA Accounting Periods screens, the system always validates the current data in the Posting Settings screen against the General Ledger tables before posting. Specifically, the system validates that the FY/Pd/Subpd is valid, open, and available for Fixed Assets postings.

You should, at a minimum, enter data for the current fiscal year and data for the next two future fiscal years to enable current period depreciation calculations.

If you do NOT set up this data before computing depreciation, incorrect data will display in the Current Pd Depreciation field(s) of the G/L Book Info subtasks and the Other Books Info subtasks of the Maintain Asset Master Info screen after you have computed depreciation for new records. In addition, blanks will display in the report produced by running the Verify/Update Depr Computation Data utility (in the Curr Depr Yr and Days/Pds Remaining fields) for any record for which no corresponding FY/Pd/Subpd data is found in the Fiscal Years, Accounting Periods, and Subperiods screens in Costpoint General Ledger for the fiscal year indicated in the Depr Start Date field(s) of the G/L Book Info (Years) and Other Books Info subtasks of the Maintain Asset Master Info screen (and directly in the Maintain Asset G/L Book Info and Maintain Asset Other Books Info screens, as applicable).

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.

Note:  If you plan to use the Verify/Update Depr 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 FY/Pd data in Costpoint Fixed Assets for the historical fiscal years that correspond to the Depr Start Date field(s) of the G/L Book Info (Years) and Other Books Info subtasks in the Maintain Asset Master Info screen (and directly in the Maintain Asset G/L Book Info and Maintain Asset Other Books Info screens), as applicable).

If no corresponding FY/Pd data is found in Costpoint Fixed Assets for the fiscal years indicated in the Depr Start Date field(s) of the G/L Book Info (Years) and Other Books Info subtasks in the Maintain Asset Master Info screen and directly in the Maintain Asset G/L Book Info and Maintain Asset Other Books Info screens, as applicable,  blanks will display in the Current Pd Depreciation field(s) in those screens after depreciation is computed for new records.

In addition, as a result of this condition, blanks will also display in the report produced by running the Verify/Update Depr Computation Data utility (in the Curr Depr Yr and Days/Pds Remaining fields) for any record for which no corresponding FY/Pd data is found in Costpoint Fixed Assets for the fiscal year indicated in the Depr Start Date field(s) of the G/L Book Info (Years) and Other Books Info subtasks in the Maintain Asset Master Info screen (and directly in the Maintain Asset G/L Book Info and Maintain Asset Other Books Info screens), as applicable.

Warning:  Data set up in the required Maintain FA Fiscal Years and Maintain FA Accounting Periods screens is not validated against data in Costpoint General Ledger because of the ability to add future time periods for use with the projected depreciation expense functionality.

Although the system permits FY/Pd data in Costpoint Fixed Assets that is inconsistent with GL data, use extreme caution when entering different data or editing existing data. To avoid FA calculation and posting problems, make sure that FY/Pd data in Costpoint Fixed Assets is identical to data set up for comparable fiscal years/periods in Costpoint General Ledger.

It is imperative that you initialize this screen, along with the Maintain FA Accounting Periods screen, on a one-time basis before you compute the current period or projected depreciation expense, run certain system utilities, or post depreciation to the General Ledger. You can add future fiscal year data not existing in Costpoint General Ledger to this screen at any time before running the Compute Projected Depreciation Expense calculations.

Warning: Check the order of the fiscal year codes in this screen. If you have used the Update FA FY/Pd Info from GL FY/Pd Info process to import data to this screen and/or you have manually added historical data, fiscal year codes may display in an out-of-order sequence.

To correctly re-order the fiscal year codes, first insert the FY code that is out of sequence into its proper position in the table window and then mark it for deletion where it exists out of order. The accounting periods and their ending dates in the Maintain FA Accounting Periods screen will not be affected by this action and will continue to be correct for the FY fiscal year.

If you have assigned a Date of Purchase basis to one or more depreciation methods in the Depr Methods - Basic Setup screen and you have also selected the "Catch-Up" calculation option (Added to current period amount radio button) in the Fixed Assets Settings screen, the system immediately displays the following soft warning message when you open the Compute Depreciation screen:

"You have assigned a Date of Purchase basis to one or more depreciation methods in the Depr Methods - Basic Setup screen. You have also selected the "Catch-Up" calculation option in the Fixed Assets Settings screen that adds missed depreciation for prior periods in the current year to the current period depreciation amount.

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 in the Maintain FA Fiscal Years and Maintain FA Accounting Periods screens. Please refer to the documentation for these screens for additional information."

You should set up this data once 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 Maintain FA Fiscal Years screen instead of using the New Line function.

Alternately, if you do not want to add historical fiscal year and period data in the Maintain FA Fiscal Years and Maintain FA Accounting Periods screens, you can change the "Catch-Up" calculation option in the 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 radio button).

Note:  The Close Fixed Assets Acctng Pd screen can automatically update this screen under specific circumstances. If the period being closed is the last period of the current FA fiscal year (displayed in the Posting Settings screen) and the next fiscal year is already set up in Costpoint General Ledger, the system will automatically import the next fiscal year data from the GL to this screen. Additionally, the system will also automatically import from the GL the accounting periods and period ending dates for that fiscal year to the Maintain FA Accounting Periods screen.

Table Window

Warning:  Technically, in this version of Costpoint, you can use the standard Windows Find and Replace functionalities at any child table window screen (including this screen). You can safely use Find because its sole purpose is to help you locate specified data within the table window.

The Replace function, although powerful when used in the proper circumstances, can also be extremely dangerous. The Replace function will change the specified data when you save the table window and will NOT create an audit trail. In addition, dependent data rules within Costpoint can complicate the Replace functionality.

We recommend that you NEVER use the Replace functionality in this screen because this function is inappropriate for the data contained in this table window. For more information about Find and Replace, please see the Basic Functions documentation.

Fiscal Year

Enter fiscal year data in this required column. Include the current fiscal year and at least two future fiscal years. To enable the projected depreciation functionality, you should enter all future fiscal years for which you want to compute projected depreciation.

Alternately, you can run the process from the Update FA FY/Pd Info from GL FY/Pd Info screen to import fiscal year data already existing in Costpoint General Ledger.

Description

Enter up to 30 alphanumeric characters in this required column to supply a description as desired.

Alternately, you can run the process from the Update FA FY/Pd Info from GL FY/Pd Info screen to import fiscal year data already existing in Costpoint General Ledger. After the data is imported to this screen, you can edit the description data as desired. (Edits to the description after import will have no effect on depreciation computations, or posting and closing processes.)

Pds in DP Year

Enter the number of periods in the purchase year for assets whose start date is in this fiscal year. This field is required and the only accepted values are "01" through "18."

Note:  You must initialize this field even if you currently do not use any depreciation methods that are based on Date of Purchase methodology.

For the majority of users, the value in this field will match the number of periods in the fiscal year.

The purpose of this field is to provide the system with information to assist in depreciation calculations if the number of periods per fiscal year changes because of an acquisition, re-organization, or fiscal year shift. An unusual event of this nature will only be experienced by a very small number of users.

If you have initialized a fiscal year in this screen by running the process from the Update FA FY/Pd Info from GL FY/Pd Info screen to import data existing fiscal year and accounting period data in Costpoint General Ledger, the system will count the number of accounting periods in the fiscal year and populate this field with the count results as a default.

If you run the Update FA FY/Pd Info from GL FY/Pd Info process and only the fiscal year has been set up in Costpoint General Ledger (and not the accounting periods), the system will populate this field with "1" as a default. In this event, you will, in most cases, want to change the value in this field to match the number of periods in your fiscal year.

Edits to this field for any other reason should be made with extreme caution. Changes to this field can significantly affect the results of depreciation calculations and produce unexpected results.

Table Information

The system stores data entered in this screen in the FA_FY_INFO (Fixed Assets FY Info) table.