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Closing the FA Period in GP 10.

Posted on 2010-08-23
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Last Modified: 2013-12-11
Is there a way to close the FA Fiscal Period in GP? It is very confusing when you see in the Financial Detail Display that a particular transaction has a "GL Posting Trx Date" of  August, 10, 2010 but the "FA Period" is '2009-012'!   I am not sure how to prevent this from taking place.  If there was a way to close the FA Period then we would do this as part of the month end process so that the GL Period  always corresponds to the FA Period.

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Question by:drivingforce
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Victoria Yudin earned 500 total points
ID: 33504404
There is no way to close an FA period, only the year.  But even then, if you enter a new asset with an acquisition date in a closed year, there will be at least one record in the financial detail for an FA period in that year.  Having a different GL posting date and FA period is no different from having a different Invoice Date and GL posting date in AP or AR and should typically be ok, accounting wise.  If this is causing issues, then my first step would be to train the users entering new assets to make sure they do not keep doing whatever is causing the issue.  (Most likely not entering new assets in a timely manner.)

While you could prevent this with a customization, it would probably not be trivial and I think it may actually make it much more difficult to use the FA module as intended.
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by:drivingforce
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