Navigation: Select Asset Management WorkCenter title from the Home Page OR Navigator > Asset Management > Accounting Entries > Close Depreciation

Transcription

1 Contents Depreciation Close Overview... 1 Process Detail... 1 I. Introduction... 1 II. Asset Depreciation Close... 1 III. Review Depreciation Accounting Entries... 4 Depreciation Close Overview The Depreciation Close process generates period depreciation accounting entries for all depreciable assets in a particular accounting period, including lease payments and offset accounts for the period. Process Frequency Dependencies Assumptions Responsible Parties Alternate Scenarios Depreciation Close is run on an as needed basis. Users at the individual institutions are generally responsible for this business process. However, the UWSA Problem Solvers may assist in troubleshooting. Process Detail I. Introduction The Depreciation Close process (AM_DPCLOSE) creates accounting entries for depreciation for an open accounting period. Run this process only for an accounting period that has not yet been closed. This process can be reversed or rerun if errors are detected in the results. II. Asset Depreciation Close Navigation: Select Asset Management WorkCenter title from the Home Page OR Navigator > Asset Management > Accounting Entries > Close Depreciation SFS_AM.2.05_Asset_Depreciation_Close.docx Page 1 of 5

2 1. Select Close Depreciation 2. Select button to choose existing Run Control or 3. Select Add a New Value tab to create a Run Control SFS_AM.2.05_Asset_Depreciation_Close.docx Page 2 of 5

3 4. Enter your Business Unit 5. Enter the Book Name 6. Enter the Fiscal Year 7. Enter the (Accounting) Period Rerun depreciation close when this option is selected this creates depreciation accounting entries when none exist, if they already exist no action takes place. Note: You can only run Depreciation Close for one month at a time. If you have a problem, you must reverse posted entries and then rerun the depreciation close. If this should occur, you should contact UWSA Problem Solvers to work through the problem. 8. Click to start the process and the following page will display. SFS_AM.2.05_Asset_Depreciation_Close.docx Page 3 of 5

4 9. Select PSUNX as the Server Name. 10. Click 11. Click the Process Monitor link 12. The process is complete when the Run Status is Success and the Distribution Status is Posted. III. Review Depreciation Accounting Entries Use Asset Accounting Entries page to review the depreciation accouting entries created for asset transactions. The Depreciation Close process creates DPR (Depreciation) and/or PDP (Prior depreciation period) accountring entries. Navigation: Select Asset Management WorkCenter title from the Home Page OR Navigator > Asset Management > Accounting Entries > Review Financial Entries Following example shows depreciation entries created for an asset SFS_AM.2.05_Asset_Depreciation_Close.docx Page 4 of 5

5 Revision History Author Version Date Description of Change Surya Gannavarapu /22/2013 Final Susan Kincanon /06/2013 Final review and publish to website Jon Ahola /13/2013 Final review Dawn White /24/2018 Draft update for 9.2 upgrade SFS_AM.2.05_Asset_Depreciation_Close.docx Page 5 of 5