What is required when closing the fiscal year in Fixed assets?

3 minute read time.

Its that time of the year you might be planning or thinking about closing the fiscal year in fixed assets module and I thought of giving you some helpful hints on closing the fiscal year in fixed assets.

  • Period and Fiscal Year closing (FASCLOTURE) function is located under Fixed assets, Processes, Depreciations, and it’s used to close a selected company and the context.
  • Both Simulation and Actual closings will produce a log file. In case you want to see more information in the log use the Log file level parameter NIVTRACE (AAS chapter, MIS group). For example, levels 5 - 9 are used during test phases, simulations and for very small volumes of data.
  • Please note, prior to running the closing process in actual mode set the parameter to its default value.
  • During the period and fiscal year end closings, the closing process might cause performance issues if you are working with large number of assets.
  • In that case use the multiple commits parameters discussed below. This process follows the standard process, but it allows to close large volumes in a series of commits.
    • INTCOMCLO – intermediate commits closing parameter (AAS chapter, PRF group). Set this to “Yes”, otherwise all checks and commits are performed in a single commit.
    • INTCOMCLON – Number of assets per commit parameter is used to define the number of assets per commit. The default value is 1000.
  • When you close the period or fiscal year in actual mode without errors, the last closed asset column will be cleared.
  • This column is shown in Status of contexts screen and if there are errors after closing the last committed asset this column will display “Error in closing”, which means the error is not related to a particular asset.
  • Prior to closing the depreciation contexts FY, following conditions must be met.
    • The current period is the last period of the fiscal year.

  • All the plans of the context are calculated.
  • All the periods are in actual posting type.
  • Status of contexts is clear for posting (nothing left to post and no errors).

  • All assets classified as for sales in the FY have been disposed.
  • For the assets disposed in the current fiscal year, nothing to be posted in the next fiscal year periods if the posting is actual. The depreciations and variances between plans posted on the next fiscal year, before recording the disposal must be reversed.
  • If the ACCPERCTL – Accounting period control parameter (AAS chapter, CPT group) is set to “Yes”, the following conditions must be met.
    • The following period in accounting is open.
    • The context is in sync with accounting.
  • Once the period or fiscal year is closed, it is final and not reversible.

  • The current fiscal year closing leads to the following operations in the context.
    • The closing of the last period of the fiscal year.
    • Current fiscal year status is set to “Closed”
    • Following fiscal year becomes the current fiscal year. First period of the new fiscal year opens with the posting type set on the DEFPSTTYP – Posting type parameter (AAS chapter, CPT group). Other periods are set to not open.
    • If the new fiscal year is not defined, it will be created based on the same fiscal year split as the current FY. Please verify the start date and end date of the fiscal year and the period dates are correct.

  • Additionally, flows are created or updated for the closed fiscal year, with the status ‘Final’. FXDLIFL table funds status field FLGSTATXS = 3 (final funds) for the closed FY. Suppose during the closing the current FY was not open in the accounting side then you must manually run the provisional flows generation FASFLXM function to generate the records. This will set the FLGSTATXS =2 (provisional funds).
  • In FISCYEAR table, FY status STAFIY = 1 (closed), period status STAPER = 4 (closed) and posting type TYPPST = 1 (actual) for the closed FY and STAFIY = 2 (current), STAPER = 2 (current), rest of the STAPER = 1 (not open) and TYPPST = 2 (simulation) for the current FY.
  • In DEPREC table detailed status DEPSTA = 3 (closed) for the previous FY and 2 (calculated) for the current FY. Additionally, to post field FLGDEV = 1 (no) for the previous FY and 2 (yes) for the current FY. 

I hope this information is beneficial when you have questions on fiscal year closing in fixed assets.