What is the best method for setting a period close after the actual period close date?

Hello,

I forgot to set the period close date when we closed our fiscal year.  We have since run four months of depreciation, with no "reset date" that will work for resetting, running a period close, and then re-running depreciation for the affected assets.

I backed up the company and experimented by "forcing re-calc" through the end of (prior-year) fiscal period 11, then re-running period 12.  The "Depreciation this run" for period 12 on my re-run tied to the actual period12 run; however, the "Curr YTD" and "Curr Accum" numbers were off by a very, very small amount.  I am not worried so much about the value, but more concerned with tying reports, Beg Accum, etc.

I also tried just setting the period close, and of course, it did not work.  I created a few groups to see if I could reset to the prior-year's close date, but the system does not seem to return the actual number of assets we have in our system.

Does anyone have a better idea of how this task should be performed?

Thanks!

Ben

  • Hello Ben,

    Your objective here is not to reset depreciation but to run depreciation to a prior period. The Reset does allow for specific dates.

    Force Recalculate will only effect the asset if the Current thru date in the asset is the same and the date you are running depreciation for. In this operation, you will not need it, since it may have unintended effects on your DTR for those prior year Disposals.

    The Depreciation This Run (DTR) also does not really matter for this operation since it can reflect any period of time, but if you want to reflect the year to date (YTD), assuming a December Year end, you would first need to run depreciation on the <All Completed Assets> group to 12/2013, then to 12/2014 which will get the DTR to equal the YTD.

    After Completely the re-running of depreciation and assuming the same number of assets so that the YTD and Accum tie, except for the rounding that sometimes occurs, you should then be able to set the 12/2014 Period close.

    Since the Period Close is just a Copy of Depreciation information from one set of field to another, any asset ran through the given date should have Period Close information on it even if not all assets get updated. You may get a message to the affect that not all assets had the Period close set on them, but that does not mean the process failed. Are you getting some other message?

    ~Delray

  • Delray,

    How do you reset depreciation to a specific date? Or, were you simply referring to "Placed-in-service date," "Period Close Date," or "Beginning Date"?

    Thank you,

    Ben
  • You don't. You can Run depreciation to a speicfic date but a Reset is relitive to the data in the asset.