Fixed Assets - EBS (MOSC)

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Tax Book Current period

in Fixed Assets - EBS (MOSC) 3 commentsAnswered

Hi All,

We are in 12.2.10 and we have corporate FA Book for more than 10 years now. Business wants to have a tax book associated with a secondary Ledger.

Corp follows 4-4-5 calendar while Tax Book requirement is JAN-DEC Calendar

The current open period for Corp book is JUL-22 (Jun is already closed). Business has been maintaining the asset information offline for tax book and the balances are available as of MAR-22. In this case can we set the current period to APR-22 or should it be necessarily previous fiscal year close period?

We are planning to run Initial Mass copy. There would some changes in the Cost/YTD Deprn and Deprn Reserve and life . We will use Upload tax interface program to override the same till MAR-22 depreciation. We will run the APR-22 depreciation to account the current month depreciation. After that every month we will have to run periodic mass copy to bring till current period?

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