Fixed Asset Inventory End of Fiscal Year Checklist

_____ 1. Balance assets in Fixed Asset Inventory.

$image\btn_mini.gif$ Tips for Balancing Assets

_____ 2. Process asset disposal, if not completed throughout year; be sure to create and use a separate batch with the appropriate processing month for each different month in which assets were disposed.

$image\btn_mini.gif$ Steps to Process Asset Disposal

_____ 3. Process depreciation for current year.

$image\btn_mini.gif$ Steps to Process Depreciation

Note: If any fixed (or capital) assets purchased prior to the current fiscal year were just entered into the Fixed Asset Inventory module this fiscal year (for example, a fixed asset that is 10 years old was just entered into the Fixed Asset Inventory module this fiscal year), complete the Process Catch-Up Depreciation option in order to calculate depreciation from the time the assets were purchased up to, but not including, the current fiscal year.

_____ 4. Process replacement costs.

$image\btn_mini.gif$ Steps to Process Replacement Cost

_____ 5. Make a backup.

$image\btn_mini.gif$ Steps to Backup