MAINTAIN FA ACCOUNTING PERIODS

Use this screen to maintain accounting periods and period end dates for each fiscal year set up in the Maintain FA Fiscal Years screen. 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 accounting period data already existing in Costpoint General Ledger.

Note:  Although FY/Pd data for Fixed Assets is set up and maintained 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.

Warning:  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, FY/Pd data in Costpoint Fixed Assets should be 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 Fiscal Years 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 manually add accounting period data for future years not existing in Costpoint General Ledger to this screen at any time (provided the fiscal year has first been set up in the Maintain FA Fiscal Years screen).

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 that adds missed depreciation for prior periods in the current year to the current period depreciation amount, the system displays the following soft warning message before computing depreciation:

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.

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 the Maintain FA Fiscal Years screen. Additionally, Costpoint will also automatically import from the GL the accounting periods and period ending dates for that fiscal year to this screen.

Fiscal Year Info

Use the fields in this group box to enter or view the fiscal year for which accounting period(s) will be manually entered or displayed.

Fiscal Year

Enter the fiscal year for which you want to add or view accounting period data or use Lookup to select one. The fiscal year must be already set up in the Maintain FA Fiscal Years screen.

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

Description

This field is not available for user entry. The system automatically displays the fiscal year description required for the fiscal year in the Maintain FA Fiscal Years screen. (The description may have been manually entered or imported from Costpoint General Ledger by running the Update FA FY/Pd Info from GL FY/Pd Info 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.

Period

Enter accounting period data in this required column.

Although there is no system validation against existing accounting period data in Costpoint General Ledger, period data should be identical to data set up for comparable fiscal years/periods in Costpoint General Ledger to avoid FA calculation and posting problems.

Alternately, run the Update FA FY/Pd Info from GL FY/Pd Info screen to import accounting period data already existing in Costpoint General Ledger.

End Date

Enter accounting period end dates for each accounting period in this required column.

Although there is no system validation against existing accounting period data in Costpoint General Ledger, period end dates should be identical to data set up for comparable fiscal years/periods in Costpoint General Ledger to avoid FA calculation and posting problems.

Alternately, run the Update FA FY/Pd Info from GL FY/Pd Info screen to import accounting period data already existing in Costpoint General Ledger.

Table Information

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