Want to Close FA Period for Dec-24 Without Running Depreciation

Summary:

We are planning to close the Fixed Assets (FA) period for December 2024. However, since the General Ledger (GL) period for Dec-24 has already been closed, we do not intend to run depreciation for that month to avoid any impact on the GL balances.

1. In this regard, I would appreciate your guidance on the following points:

2. Is it possible to close the FA period without running depreciation for that period?

If yes, could you please advise on any functional or accounting consequences we should be aware of—particularly in scenarios where we may need to retire or terminate assets that would have otherwise had depreciation for the month of December?