Close Depreciation Calendar – A summary of the activity

This activity allows you to close the depreciation calendar. You can provisionally close the financial year or finally close the year. Accounting posting will happen for the financial year, which has been finally closed. Only the financial year in which the depreciation processing is in “Confirmed” status can be closed. You can also view the asset for which the depreciation has not been processed. You can also view the financial period with the closed status.

The system posts opening asset balances to the succeeding financial year. The system updates the status of the financial year to “Final” if the closure type is final and “Provisional” if the closure type is provisional.

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