How is the data on this screen different from the Fiscal Year data set up on the General Ledger?

Separate screens are available for the setup of FY/Pd/Subperiod information in the General Ledger (G/L), as follows:

• Manage Fiscal Years
• Manage Accounting Periods
• Manage Subperiods

You need not set up future fiscal years and periods in the General Ledger for Fixed Assets use, because functionality for both current and future fiscal year/period data resides in its entirety in Fixed Assets to accommodate the computation of current period and projected depreciation expense (and therefore has no direct applicability to the General Ledger).

Fiscal year/period data in Fixed Assets (FA) is NOT validated against data in the General Ledger under normal circumstances (with the exception of the FA posting function). Although the system permits FY/Pd data in Fixed Assets that is inconsistent with G/L data, use extreme caution when entering different data or editing existing data. To avoid potential Fixed Assets calculation, posting, reporting, and closing problems, FY/Pd data in Fixed Assets should be identical to existing data set up for comparable fiscal years/periods in your General Ledger. The system will verify that the current fiscal year and periods from Fixed Assets are consistent with G/L data and will display an information message if this is not true.

Although you must set up and maintain FY/Pd data for Fixed Assets on this screen, Manage Fixed Assets Fiscal Years and on the Manage Fixed Assets Accounting Periods screen, the system always validates the current FA data on the Configure Posting Settings screen against the General Ledger tables before the important posting function. Specifically, the system always validates that the FY/Pd/Subpd in Costpoint Fixed Assets is valid, open, and available for Fixed Assets postings in Costpoint General Ledger.