39 Close Units of Production

This chapter contains the topic:

• Section 39.1, "Closing Units of Production."

Use the Units of Production Close to update the schedules that you have set up for the units of production method of depreciation (method 09).

39.1 Closing Units of Production

Navigation

From Fixed Assets (G12), choose Year End Processes

From Year End Processes (G1225), choose Units of Production Close

When you run the units of production close, the system makes the following adjustments:

• Rolls the year-to-date production amount into the Prior Year's Production field

• Clears the prior year's production amount

• Rolls the current year revisions amount into the Prior Year's Revisions field

• Clears the prior year's revisions amount

When you select Units of Production Close, the system submits the job to batch.

Note:

Run the Units of Production Close program only if your organization uses units of production to compute depreciation.

39.1.1 Before You Begin

• Verify that your current year revisions and year-to-date production amounts are accurate.

• Run the final depreciation for the year.

• Run the Asset Account Balance Close program for fixed assets.