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.