Closing a depreciation period

At month end, finance closes the period so the figures match what was reported and can't change later. You need finance edit permissions (the Finance role has them).

What closing does

1. AssetTrove calculates depreciation for every active asset up to the end of the month. Running it twice gives the same result; nothing is booked twice.
2. The month is locked. Nothing can be added to it afterwards, not even through the API, and because months close in order, every earlier month is locked too.
3. A period closed event is sent, which you can use to feed your ERP through a webhook, with totals per book and cost centre.

What happens to later changes

Closed months are never rewritten. Instead:

• a back-dated assignment that falls in a closed month is recorded, with a warning that the closed figures weren't changed;
• a back-dated in-service date is caught up in one entry in the current open month;
• changes to useful life or salvage value apply from the current month onwards.

Reopening a period

Only an owner can reopen a closed period. Reopening is recorded as a critical event in the audit log, because it changes figures that may already have been reported.