Process

Use these processing options to define the fiscal year, costs, and accumulated depreciation for the AA and AU ledgers.

1. Fiscal Year you are closing (4 digits)

Specify the fiscal year in which the asset account balances should be closed and rolled forward to the next year. Enter a four-digit fiscal year in this field. If you leave this field blank, the system will use the date pattern established for the default company 00000.

2. Non Cost and Accumulated Depreciation (Disposed Asset)

Specify how various balances should be carried forward for disposed assets with non-cost and accumulated depreciation accounts that continue to carry beginning balances (that is, expense and revenue accounts). Values are:

1: Carry balances forward for AA ledger only.

2: Carry balances forward for AA and AU ledgers.

3: Carry balances forward for all ledgers.

4: Do not carry balances forward for disposed assets.

3. Cost and Accumulated Depreciation

Specify how to carry various balances forward for disposed assets with cost and accumulated depreciation accounts that continue to carry beginning balances. Values are:

1: Carry balances forward for AA ledger only.

2: Carry balances forward for AA and AU ledgers.

3: Carry balances forward for all ledgers.

4: Do not carry balances forward for disposed assets.

4. Update the Depreciation Information

Specify whether to override depreciation information for next year with the modified depreciation information of the closing year when you re-run account balance close. Values are:

Blank: Do not update depreciation information.

1: Update depreciation information.