Defining fiscal years for asset depreciation

Create fiscal years to indicate the fiscal periods on which to base asset depreciation. When defining fiscal years for an organization, you cannot create any gaps or overlaps between fiscal year periods.

After defining fiscal years, you can update them as necessary. However, updating an existing fiscal year can invalidate records associated with equipment for which unit of output is the depreciation method. See Tracking Asset Depreciation Chapter 2 Asset Management of the Infor EAM User's Guide.

To define fiscal years for asset depreciation:

  1. Open the Organizations form.
  2. Select the record for which to define fiscal years, and then click the Fiscal Years tab.
  3. Click Add Fiscal Year.
  4. Start Date—Enter the date on which the fiscal year begins.
  5. End Date—Enter the date on which the fiscal year ends.
  6. Click Submit.
    Note: To delete a fiscal year, select the fiscal year to delete, and then click Delete Fiscal Year.

    Deleting an existing fiscal year deletes records associated with equipment for which unit of output is the depreciation method.

    To recalculate depreciation details for the equipment, click Recalculate Depreciation Details.