10.1 Closing

The month end closing of the fixed asset program and subsequent posting of the expense and accumulated depreciation amounts is done by running the Trial Close of Accounting Period process which is a selection on the Closing menu. See the C/Books General Ledger Manual for a detailed description of the closing routines. The expense amount and accumulated depreciation amounts are posted to the general ledger account that was entered as part of the fixed asset master record.

It should be noted that the month end routines only post to the general ledger if the depreciation for the current period has been calculated. Therefore, depreciation must be calculated by running the calculate depreciation process, Calculate Depreciation on the Data Entry, Fixed Asset menu prior to running the Trial Close of Accounting Period process on the Closing menu.