How do I process the Assets End of Year through SFM?
In SFM, if the Assets module is enabled, you must complete the Assets end-of-year process before running the SFM end-of-year process.
Running the Assets End of Year
Navigate to: Previous Year > Assets > Assets End Of Year
The system will then present you with the following processing options:
- Depreciation and Post into Nominal Ledger: This option calculates depreciation for all assets and automatically posts the resulting journal entries to the nominal accounts.
- Depreciation and Post into Standard Entries: This option calculates depreciation for all assets and posts the resulting journal entries as standard entries. These entries can then be reviewed, edited, and posted later by the user.
- Depreciation Only: This option calculates depreciation for all assets but does not post any entries to the nominal ledger or standard entries. This option is used if the nominal journal entries are posted manually by the user.
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