How to Open and Close Periods in Asset Management (Doc ID 618972.1)

Last updated on JANUARY 08, 2024

Applies to:

Goal

Closing a Period in Asset Management closes the period for the Business Unit Book and creates a row in the PS_BU_BOOK_CLOSE table. Any asset transaction (ADD, TRF, etc.) looks at the table, and if there is a row for the specific period in which the accounting date of the asset transaction falls, the transaction cannot be saved.

Updating the Open Period closes the specific Ledger related to the AM Business Unit (e.g. Actuals).

There are 2 options :
1. Use Update Open Period Page to keep only the current period open for AM (e.g. Journal Generate for period 3 on the last day of period 3, and open period 4 on the first day of period 4)
2. At the end of each period, close the period in AM (e.g. close period 3, after journal generating for period 3)

   Under Option 1, if the specific period is not open in AM in Update Open Period Page (e.g. open period is period 4)
      1. Asset transactions cannot be performed with accounting date in the past period (e.g. period 3), as it is not open under the Update Open Period Page.
      2. Depreciation Close job cannot be run on any past period (e.g. period 3), as it is not open under the Update Open Period Page.

    Under Option 2, if the period is closed in AM (e.g. period 3)
       1. Asset transactions cannot be performed with acctg dt in the past period (e.g. period 3), as it is closed in AM for the BU-Book.
       2. Depreciation Close job cannot be run on any past period (e.g. period 3), as it is as it is closed in AM for the BU-Book.

So, both the options help me achieve my objective of closing a period. The only difference being that closing a period in AM is irreversible and cannot be undone.

What are the additional functionality to be gained or functionality lost or anticipated problems by the use of one option over the other.

Solution

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