Set Up Fiscal Year-Period-Subperiod Data in Costpoint General Ledger and Fiscal Year-Accounting Period Data

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Field	Description
Costpoint General Ledger: Fiscal Years, Accounting Periods, and Subperiods	Regardless of the Date of Purchase or Fiscal Year basis assigned to any depreciation method, you must set up all Fiscal Year/Period/Subperiod data in Costpoint General Ledger for at least the current fiscal year. You should, at a minimum, enter data for the current fiscal year and data for the next two future fiscal years in Costpoint Fixed Assets to enable current period depreciation expense calculations. In addition, for assets having a depreciation method based on Date of Purchase, historical fiscal years and periods should be set up in Costpoint Fixed Assets back to the earliest Depreciation Start Date of assets that are still depreciating. (Setting up historical Fixed Assets Years and Periods is important for other reasons as well. The historical years and periods are used for many Fixed Assets reports that provide asset cost and accumulated details going back to the Acquisition Fiscal year and Period of asset records.) During the Fixed Assets posting process, the system always validates data on the Configure Posting Settings screen against the Fiscal Year/Period/Subperiod General Ledger data.
Costpoint Fixed Assets: Fiscal Years and Accounting Periods	The Fixed Assets Calendar menu consists of three screen selections, as follows: Manage Fixed Assets Fiscal Years Manage Fixed Assets Accounting Periods Update FA FY/Pd Information from GL FY/Pd Information The system uses data from these screens to compute depreciation expense for the current accounting period and for future accounting periods. The Compute/Update Depreciation Computation Data utility also uses data from these screens to compute values for the Current Depr Yr and Days/Pds Remaining fields in the Asset Master records. (During the Fixed Assets posting process, however, the system always validates data on the Configure Posting Settings screen against Fiscal Year/Period/Subperiod data in the General Ledger.) The system uses future fiscal year/period data for both current and future period depreciation calculations. If you also enter historical fiscal year/period data in these screens, you can use the Compute/Update Depreciation Computation Data utility to verify (and optionally update) the Current Depr Yr and Days/Pds Remaining fields of your historical assets based on the Depr Start Date. Regardless of the Date of Purchase or Fiscal Year basis assigned to any depreciation method, you should, at a minimum, enter data for the current fiscal year and data for the next two future fiscal years in Costpoint Fixed Assets to enable current period depreciation expense calculations. To use the projections functionality, you should add fiscal year/accounting period data for each future year for which you will compute projected depreciation expense. You can manually enter this data on the Manage Fixed Assets Fiscal Years screen and the Manage Fixed Assets Accounting Periods screen. Alternately, you can use the optional Update FA FY/Pd Information from GL FY/Pd Information process to automatically populate these screens with fiscal year/accounting period data already existing in Costpoint General Ledger. It is likely, however, that you will have only the current fiscal year and accounting periods established in Costpoint General Ledger. In this event, you should manually enter data for the next two future fiscal years on the Manage Fixed Assets Fiscal Years screen and the Manage Fixed Assets Accounting Periods screen. When data for the fiscal year and accounting periods are set up in Costpoint General Ledger (after it has been established in Costpoint Fixed Assets), make sure that you review the parallel data in Fixed Assets to ensure that there are no discrepancies. Warning: Regardless of the basis for depreciation (Date of Purchase or Fiscal Year) linked with the depreciation methods used at your company, you must set up Fixed Assets Fiscal Year/Period data as part of your initialization procedure before you compute depreciation for the first time. (This step is required even if you use only Date of Purchase basis depreciation methods at your company.) If you do not establish the Fixed Assets Fiscal Year/Period data before computing depreciation, incorrect data will display in the Current Pd Depreciation fields(s) of the G/L Book Info tab and Other Books Info subtask of the Manage Asset Master Information screen (and on the Manage Asset General Ledger Book Information and Manage Asset Other Books Information screens) after depreciation is computed for new records. In addition, blanks will display in the report produced by running the Compute/Update Depreciation Computation Data utility (in the Current Depr Yr and Days/Pds Remaining fields) for any record for which no corresponding Fiscal Year/Period data is found relative to the Depr Start Date field. Further, assets with Acquisition Fiscal Years/Periods for which no corresponding Fiscal Year/period data is found in Fixed Assets will not appear in Fixed Assets reports that are run with parameters including the Fiscal Year and Period, since the reports will not be able to determine when the assets were added to your system.

Field

Description

Costpoint General Ledger: Fiscal Years, Accounting Periods, and Subperiods

Regardless of the Date of Purchase or Fiscal Year basis assigned to any depreciation method, you must set up all Fiscal Year/Period/Subperiod data in Costpoint General Ledger for at least the current fiscal year. You should, at a minimum, enter data for the current fiscal year and data for the next two future fiscal years in Costpoint Fixed Assets to enable current period depreciation expense calculations. In addition, for assets having a depreciation method based on Date of Purchase, historical fiscal years and periods should be set up in Costpoint Fixed Assets back to the earliest Depreciation Start Date of assets that are still depreciating. (Setting up historical Fixed Assets Years and Periods is important for other reasons as well. The historical years and periods are used for many Fixed Assets reports that provide asset cost and accumulated details going back to the Acquisition Fiscal year and Period of asset records.)

During the Fixed Assets posting process, the system always validates data on the Configure Posting Settings screen against the Fiscal Year/Period/Subperiod General Ledger data.

Costpoint Fixed Assets: Fiscal Years and Accounting Periods

The Fixed Assets Calendar menu consists of three screen selections, as follows:

Manage Fixed Assets Fiscal Years
Manage Fixed Assets Accounting Periods
Update FA FY/Pd Information from GL FY/Pd Information

The system uses data from these screens to compute depreciation expense for the current accounting period and for future accounting periods. The Compute/Update Depreciation Computation Data utility also uses data from these screens to compute values for the Current Depr Yr and Days/Pds Remaining fields in the Asset Master records. (During the Fixed Assets posting process, however, the system always validates data on the Configure Posting Settings screen against Fiscal Year/Period/Subperiod data in the General Ledger.)

The system uses future fiscal year/period data for both current and future period depreciation calculations.

If you also enter historical fiscal year/period data in these screens, you can use the Compute/Update Depreciation Computation Data utility to verify (and optionally update) the Current Depr Yr and Days/Pds Remaining fields of your historical assets based on the Depr Start Date. Regardless of the Date of Purchase or Fiscal Year basis assigned to any depreciation method, you should, at a minimum, enter data for the current fiscal year and data for the next two future fiscal years in Costpoint Fixed Assets to enable current period depreciation expense calculations.

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

You can manually enter this data on the Manage Fixed Assets Fiscal Years screen and the Manage Fixed Assets Accounting Periods screen. Alternately, you can use the optional Update FA FY/Pd Information from GL FY/Pd Information process to automatically populate these screens with fiscal year/accounting period data already existing in Costpoint General Ledger.

It is likely, however, that you will have only the current fiscal year and accounting periods established in Costpoint General Ledger. In this event, you should manually enter data for the next two future fiscal years on the Manage Fixed Assets Fiscal Years screen and the Manage Fixed Assets Accounting Periods screen. When data for the fiscal year and accounting periods are set up in Costpoint General Ledger (after it has been established in Costpoint Fixed Assets), make sure that you review the parallel data in Fixed Assets to ensure that there are no discrepancies.

Warning: Regardless of the basis for depreciation (Date of Purchase or Fiscal Year) linked with the depreciation methods used at your company, you must set up Fixed Assets Fiscal Year/Period data as part of your initialization procedure before you compute depreciation for the first time. (This step is required even if you use only Date of Purchase basis depreciation methods at your company.)

If you do not establish the Fixed Assets Fiscal Year/Period data before computing depreciation, incorrect data will display in the Current Pd Depreciation fields(s) of the G/L Book Info tab and Other Books Info subtask of the Manage Asset Master Information screen (and on the Manage Asset General Ledger Book Information and Manage Asset Other Books Information screens) after depreciation is computed for new records.

In addition, blanks will display in the report produced by running the Compute/Update Depreciation Computation Data utility (in the Current Depr Yr and Days/Pds Remaining fields) for any record for which no corresponding Fiscal Year/Period data is found relative to the Depr Start Date field.

Further, assets with Acquisition Fiscal Years/Periods for which no corresponding Fiscal Year/period data is found in Fixed Assets will not appear in Fixed Assets reports that are run with parameters including the Fiscal Year and Period, since the reports will not be able to determine when the assets were added to your system.

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Set Up Fiscal Year-Period-Subperiod Data in Costpoint General Ledger and Fiscal Year-Accounting Period Data

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