Protecting Calculations with a Period Close
After you conduct a Period Close, the system protects your depreciation calculations by not allowing you to calculate depreciation on an asset prior to its Period Close date.
If you do attempt to calculate depreciation prior to an asset’s Period Close date, the system displays a message indicating that depreciation will not be calculated for the asset.
You enter an asset in January of 2004, and you calculate depreciation on the asset each month. In December 2004, you conduct a period close for a group that includes this asset.
Suppose you then run depreciation for the All Complete Assets group, and you enter a date of November 30, 2004 in the Depreciate window. The system displays a warning message that the date for which you are running depreciation is prior to the Period Close date for at least one asset in the group. The system will not calculate depreciation for such assets, and they will not appear on the Depreciation Expense report.
Note: Remember that you can always reset depreciation for an asset to its Beginning Date or its Placed-in-Service date. If you reset depreciation to the Placed-in-Service date, then you can calculate depreciation for whatever date you choose.