Closing Activities in Asset Accounting in fico

Every depreciation activities for fiscal year 2000 have to be posted in asset accounting.

You have executed the fiscal year change from 2000 to 2001.

You still have to carry out the Year-End Closing in asset accounting.

Purpose

The extent of closing activities in asset accounting widely depends on the requirements of the company. There are some closing activities every company must carry out and others that are only relevant for a smaller number of companies. In this scenario we will show you the following activities:

• Executing periodic reports

You can use periodic reports to analyze, if the forecasted values meet the demands of the company or if they have to be corrected. After closing these reports are used to document the latest state.

• Manual depreciation

Generally the planned depreciations for the actual fiscal year are determined by the depreciation keys in the master record. If you want to determine depreciations individually the system provides the possibility of manual depreciation. For example unplanned depreciations or the transfer of reserves are typically entered manually.

• Posting the depreciation

Every movement of a complex fixed asset results in a modification of the forecasted depreciation but not in an update of the accumulated depreciation accounts for the financial statement. Only by carrying out a periodic depreciation run with a batch input session the planned depreciations for each complex fixed asset will be accumulated per posting level and posted in financial accounting.

• Fiscal year change

Fiscal year change means to open a new fiscal year for a company code. By carrying out a fiscal year change the asset values of the old fiscal year are carried forward to the new fiscal year. From then on you can post assets with asset value date in the new fiscal year though postings in the old year are still possible.

• Year-end closing

Running the year-end closing closes a fiscal year for one or more company codes from the accounting point of view. After you have carried out the year-end closing no more postings or value changes (for example by recalculating the depreciations) can be executed in the closed fiscal year.

You can find more information about this process under .

Prerequisites

To avoid errors in the output controller, please check your printer settings before you start working on this process.

1. To do this, select System
® User profile ® Own data.
2. In the Defaults tab page enter the following data:

Field	Data
Start Menu	Name of your printer

3. Choose .

You can find the data for this process under .

Process Flow

1. First you will display the asset list. There you will give attention to a certain asset.

Displaying the Asset List

2. You will then post an unplanned depreciation for the asset of the previous step.

Unplanned Depreciation: Posting

3. Next you will display the asset in the asset explorer.

Displaying the Asset in the Asset Explorer

4. In order to allow other users to run the same depreciation, you should reverse the previous posting.

Reversing the Asset Posting

5. You will then carry out the depreciation run.

Periodic Depreciation: Carrying Out the Depreciation Run

6. To update the general ledger with the data you will process the batch input session.

Processing the Batch Input Session

7. At the end of the year you can carry out the fiscal year change.

Fiscal Year Change

8. In the new fiscal year you will execute the year-end closing for the last year.

Year-End Closing