| Using Period End |  |
| You run period end at the close of each fiscal period. This process closes the current fiscal period of your accounting cycle in the Fixed Assets Management module. You must run period end for FAM before you can run period end in the General Ledger module. During period end, ERP LN purges the company's historical data for fully-disposed assets and asset transactions by using the history retention periods specified. You can run period end for current or previous periods only. However, you can close the period you are currently working in at any time of the month. After you close a period, you cannot run asset transactions for that period. Once ERP LN validates that the previous period is closed, ERP LN performs the following tasks during period end: Removes data for fully-disposed assets based on the history retention periods specified. Removes capitalization, depreciation, adjustment, transfer, and disposal transaction data based on the history retention periods specified. Increments the current period for the selected companies to the next period in the fiscal year. Detects the last period in the fiscal year and resets year-to-date depreciation to zero for all assets and their books in the current company. Inactivates the former period. The currently open period is displayed in the FAM Parameter (tffam0100s000) session. The Period End (tffam8205m000) session in Fixed Assets Management has been run for all previous periods. Note ERP LN does not purge data from the ADR books for assets subject to ADR or MACRS group tax reporting, even if the retention periods have been exceeded. ERP LN will purge the ADR books for these assets when all the assets in the vintage/group account have been disposed of. |