Clearing the Period Close Fields
How does clearing a period close affect my calculations?
You can remove information from the period close fields for a single asset or for a group of assets, allowing you to easily rerun depreciation reports for periods prior to a period close. When you use the Clear Period Close feature, the system removes the period close date and enters zeros in the period close depreciation fields.
If an asset has been involved in a partial transfer or partial disposal, the system removes period close information for the original asset extension as well as all of the remaining extensions.
The system does not remove period close information from an asset whose status is Inactive.
Note: Removing period close data does not immediately change the current depreciation data. However, if you made changes to asset attributes after the Period Close date, then depreciation calculations may be affected the next time depreciation is calculated prior to the current through date.
To clear the period close fields
- Select Depreciation/Period Close/Clear Period Close from the menu bar. The system displays the Clear Period Close window.
- Complete the Clear Period Close window.
- Select OK. The system enters zeros in the period close fields if the asset’s Period Close Date is on or after the date entered in the Clear Period Close window.