Using FA Beginning Balance Program

Hi,

I have a Q about using of Beginning Balance Program.

We are using Fiscal Year Jul to Jun and going live on 01.02.17 (FY: 01.07.16 - 30.06.17). We are using both AA and D1 ledgers for Fixed Assets.

Two approaches being considered are:

1. Using Journals

a. Load Fixed Asset Cost and A/D Balances as part of GL Journals (with Asset # reference) on 30.06.2016 (prior FY end), post the journals to GL and then post the Cost and A/D component to FA. Run GL and FA annual close programs.

b. Load GL accounts $ movement journals, including Depreciation and A/D balances (for old assets) and Cost, A/D and Depreciation Exp balances (with Asset # reference) every month end (like 31.07.16, 31.08.16....up until 31.01.17). Post the journals to GL and FA.