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This page allows you to select the financial year or financial period and close them. You can close the whole financial year or the period associated to the financial year. You can retrieve the financial year and period details by carrying out the search using the code identifying the depreciation book, the financial year, financial period and finance book. You can finally close the financial year or provisionally close them.
The system posts opening asset balance 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 provisional.
Select the “Close Depreciation Calendar” link under the “Asset Depreciation Processing” business component.
The “Close Depreciation Calendar” page appears.
Enter the following fields in the group box:
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Depreciation Book Code |
Use the drop-down list box to select the code identifying the depreciation book. All the books defined in the “Set Depreciation Book” activity of the “Asset Depreciation Setup” business component are listed by the system. The system displays “Corporate” by default on launch of the page. |
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Close Period/Year |
Use the drop-down list box to indicate whether you want close the financial year or period. The options available are “Period” or “Year”. The system displays “Period” by default on launch of the page. |
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Closure Type |
Use the drop-down list box to select the type of the closure. The closure types available are |
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The system displays “Provisional” by default on launch of the page. |
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Financial Year |
Use the drop-down list box to select the financial year, which you want to close. The system lists all the open financial years defined for the depreciation book. The system displays the earliest open financial by default on launch of the page. |
Note: If the financial year selected for closure is of type “Final”, then all the financial periods except the last period of the financial year must be in “Closed” status.
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Financial Period From |
Use the drop-down list box to select the financial period from which you want to close. The system lists the open financial period of the open financial year, mapped to the login organization unit. The system displays the earliest financial period by default on launch of the page. |
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To |
Use the drop-down list box to select the financial period till which you want to close. The system lists the open financial period of the open financial year, mapped to the login organization unit. The system displays the earliest financial period by default on launch of the page. |
Note: The financial period to must be greater than the financial period from.
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Finance Book |
Use the drop-down list box to select the code identifying the finance book in which the accounting entries are posted. The system lists the finance books pertaining to the depreciation book. The finance book must have been defined in the “Create Finance Book” activity of the “Organization Set Up” business component. The system displays “All” by default on launch of the page. |
Click the “Get” pushbutton to retrieve the financial period details.
The system displays the following fields in the “Financial Year Details” group box.
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Financial Year Code |
The code identifying the financial year. |
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Description |
Any textual description pertaining to the financial year code. |
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Year Status |
The status of the financial year. |
The system displays the following fields in the “Financial Period Details” multiline:
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Financial Period Code |
The code identifying the financial period. |
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Description |
The textual description pertaining to the financial period. |
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Start Date |
The start date of the financial period. |
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End Date |
The end date of the financial period. |
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Period Status |
The status of the financial period. |
Click the “Close” pushbutton to close the depreciation calendar.
Note: The depreciation status for any asset tag in the financial period selected for closing must be in “Confirmed” status. The adjustment status of any asset tag in the financial period must be in “Processed” status.
The document status of any process run number of the financial period for closing must be in “Confirmed” or in “Deleted” status.
If any change set up number or the simulate run number has been created for the depreciation book with the processing date falling in the financial period selected for closing, the status must be “Confirmed” or “Deleted”.
If the financial year is selected for closure, then next financial year must have been defined for the depreciation book.
The system posts opening asset balance 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 provisional.
To proceed, carry out the following
Select the “View Unprocessed Details” link at the bottom of the page to view the unprocessed details.
Select the “View Period Closed Status” link at the bottom of the page to view the status of the financial period.
You can close financial year or financial period.
Set “Close Period/Year” field to “Period” to close the financial period.
Set “Close Period/Year” field to “Year” to close the financial year.
Set “Closure Type” field to “Provisional” to provisionally close the financial year or period.
Set “Closure Type” field to “Final” to finally close the financial period or year.