Conducting a Period Close

Before you conduct a Period Close, calculate depreciation on the assets you want to include in the process. To calculate depreciation, execute the Depreciate command from the Depreciation menu. The date that you enter in the Period Close window must be the same as the date through which you have calculated depreciation. If depreciation on an asset has not been calculated through the date in this field, it will not appear on the Period Close report.

We recommend that you select the All Complete Assets group when you conduct a period close.

Note: The date of the Period Close must be on or after the Beginning Date for each asset for which you are conducting the Period Close. The system prevents you from conducting a Period Close prior to an asset’s Beginning Date.

To conduct a period close

1. Select Depreciation/Period Close/Set Period Close from the menu bar. The system displays the Set Period Close window.
2. Complete the Set Period Close window, then select the Execute button. The system stores the most recent depreciation calculations for the selected group of assets, and then either displays the results or sends them to a printer.

If you opted to display the results, select the Close button to exit the report viewer.