Closing fixed asset management calendar

This page allows you to close a fixed asset management calendar. Tell me more.

Select the “Close Fixed Asset Management Calendar” link under the “Financial Calendar Closure” business component.

The “Close Fixed Asset Management Calendar” page appears.

Enter the following fields:

Business Function Group	Use the drop-down list box to select the business function group for which you want to close the fixed asset management calendar. All the business function groups, which form a part of the fixed asset management business process chain, will be available for selection in the ascending order.
Org. Unit	Use the drop-down list box to select the organization unit in which the business function group is available. All the organization units in which the business components forming a part of the selected business function group that have been deployed and those are mapped to the login organization unit will be available for selection in the ascending order. The system displays “All” by default on launch of the page.
Finance Book	Use the drop-down list box to select the code identifying the finance book for which the fixed asset management calendar must be closed. All the finance books that have been deployed in the selected organization unit will be available for selection in the ascending order. The system displays “All” by default on launch of the page.

Note: If “All” has been selected in the “Org. Unit” field, all the finance books that have been deployed in all the organization units available for the company will be available for selection in the ascending order.

Closure Type	Use the drop-down list box to select the type of closure for the fixed assets management calendar from “Provisional Closure” or “Final Closure”. The system displays “Provisional Closure” by default on launch of the page.
	Provisional Closure – indicates that the financial year / period has been closed for an interim time.
	Finally Closed – indicates that the financial year / period has been finally closed for the finance book. You cannot post any fixed asset management transaction for the closed financial year / period. There must also be a financial year / period subsequent to the one that is closed so that the closing balances can be transferred.
Close Period / Year	Use the drop-down list box to select whether you want to close the financial period or the financial year from “Period” or “Year”. The system displays “Period” by default on launch of the page.

Note: If “Year” is selected financial periods will not be available for selection in the “Financial Period From” and “To” fields.

Financial Year

Use the drop-down list box to select the financial year that you want to close. All the finance years that are in the “Open” status will be available for selection in the chronological order. The system displays the start date and the end date of each of the financial years. The date range of the “Open” financial years must be before the system date

Note: The financial years will be available for selection based on the combination of the business function group, organization unit and the finance books that is selected.

Financial Period From

Use the drop-down list box to select the financial period that you want to close. All the financial periods that are in the “Open” or “Provisionally Closed” status will be available for selection in the chronological order based on the selected financial year. The system displays the start date and the end date of each of the financial periods. The current financial period will not be available for selection.

Note: All the financial periods prior to the selected financial period for “Final Closure” must be in the “Finally Closed” status.

All the financial periods prior to the selected financial period for “Provisional Closure” must be in the “Provisionally Closed” or “Finally Closed” status.

Use the drop-down list box to select the financial period till which you want to close. All the financial periods that are in the “Open” or “Provisionally Closed” status will be available for selection in the chronological order based on the selected financial year. The system displays the start date and the end date of each of the financial periods.

If you want to close the fixed asset management calendar for multiple periods, you can specify the starting and ending of the range in the “Financial Period From” and “To” fields. The system will close all the financial periods that fall within this range.
Click the “Get” pushbutton to retrieve the calendar details.

The system displays the following in the “Financial Year Details” group box based on the combination of the business function group, organization unit and the finance book selected:

Financial Year Code	A code identifying the financial year.
Description	The textual description of the financial year.
Year Status	The status of the financial year. It could be “Closed” or “Provisionally Closed”.

The system displays the following in the “Financial Period Details” multiline:

Financial Period Code	A code identifying the financial period.
Description	The textual description of the financial period.
Start Date	The date on which the financial period begins.
End Date	The date on which the financial period ends.
Period Status	The status of the financial period. It could be “Closed” or “Provisionally Closed”.

Note: All the business function groups prior to the selected business function group must be closed before the final closure if “Close preceding BFG” has been set to “Yes” at the company level.

Click the “Close” pushbutton to close the selected calendar for the “Fixed Asset Management” business function group.

Status Updation

The system updates the status of the financial year as “Provisionally Closed” if one or all of the financial periods in the year is in the “Provisionally Closed” status.
The system updates the status of the financial year as “Finally Closed” if all the financial periods in the year are in the “Finally Closed” status.

To proceed, carry out the following

Select the “BFG Components” link at the bottom of the page to view the list of the business components that form a part of the business function group.
Select the “Pending Transactions” link at the bottom of the page to view the list of unauthorized fixed asset management transactions available in a finance book.
Select the “Period Closure Status” link at the bottom of the page to view the status of the financial periods.
Select the “Preceding BFG Closure Status” link at the bottom of the page to view the status of the preceding business function groups.

Closing fixed asset management calendar – An overview

Financial entries pertaining to any fixed asset management functions cannot be posted in a finance book when the financial year is closed. This page allows you to close a selected financial period or year “Provisionally” or “Finally”. You can select the business function group and the organization unit in which the business components have been deployed. You can also select whether you want to close a financial year or a financial period. All the financial year and periods that are in the “Provisionally Closed” or “Open” status will be available for selection in the ascending order. The status of the financial year is updated as “Finally Closed” if all the financial periods in the year are in the “Closed” status.