Technical Considerations for New Date Patterns

Keep in mind these considerations:

Consideration	Description
4/4/5 Accounting	Set up the correct number of periods, usually 13, on the Company Names and Numbers/Asset Acquisition Years programs. You must also set up one year into the future.
Reconciliation periods	Set up the reconciliation period as a separate period when in the fiscal date patterns. The 13th or 14th period is usually the reconciliation period, depending on whether you have regular periods or 4/4/5, respectively. The reconciliation period is not used for computing depreciation on an asset because it is usually a 1-day or 2-day period that is used for reconciliation adjustments only. When using a 4/4/5 date pattern, the system computes 13 periods of depreciation. The life months on the asset must be changed. For example, a 5-year (60-month) asset is now a 5-year (65-life-month) asset. To globally change the assets and their life months, change the item default coding; then run Update of Depreciation Values.
Annual Close program (R098201)	After the date pattern is set up, verify that all postings have been completed for year end. Then change the date pattern code to the new date pattern code and run the Asset Account Balance Close program for the short year. This process moves balances forward. After you change to a new date pattern code, run the Annual Close, which populates the Balance Forward field in the new table F1202 with balances. The Asset Account Balance Close program recognizes that period 1 of the new year is now associated with the new date pattern and not with the old pattern. Therefore, by performing this process, you ensure that the system uses the new and correct period.

Consideration

Description

4/4/5 Accounting

Set up the correct number of periods, usually 13, on the Company Names and Numbers/Asset Acquisition Years programs.

You must also set up one year into the future.

Reconciliation periods

Set up the reconciliation period as a separate period when in the fiscal date patterns. The 13th or 14th period is usually the reconciliation period, depending on whether you have regular periods or 4/4/5, respectively. The reconciliation period is not used for computing depreciation on an asset because it is usually a 1-day or 2-day period that is used for reconciliation adjustments only. When using a 4/4/5 date pattern, the system computes 13 periods of depreciation. The life months on the asset must be changed.

For example, a 5-year (60-month) asset is now a 5-year (65-life-month) asset. To globally change the assets and their life months, change the item default coding; then run Update of Depreciation Values.

Annual Close program (R098201)

After the date pattern is set up, verify that all postings have been completed for year end. Then change the date pattern code to the new date pattern code and run the Asset Account Balance Close program for the short year. This process moves balances forward.

After you change to a new date pattern code, run the Annual Close, which populates the Balance Forward field in the new table F1202 with balances. The Asset Account Balance Close program recognizes that period 1 of the new year is now associated with the new date pattern and not with the old pattern. Therefore, by performing this process, you ensure that the system uses the new and correct period.