What is period control in SAP FI-AA - Asset Accounting?

SAP Term: period control

• Component: FI-AA

• Component Name: Asset Accounting

• Description: A function that determines the start or the end of depreciation calculation at the time of a fixed asset acquisition or retirement. There are many different country-specific regulations particularly for asset acquisitions that govern how the depreciation start date asset value date can be determined from the date of the posting. Period control is part of the internal calculation key. You can specify individual period control for each transaction type acquisition, retirement, transfer. Examples of period control provided in the SAP System include: Pro rata temporis Pro rata at mid-period half month rule First year convention

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• Key Concepts: 
  Period control in SAP FI-AA Asset Accounting is a feature that allows users to define the periods in which certain activities can be performed. This includes activities such as posting depreciation, creating asset master records, and more. It is used to ensure that all activities are performed within the correct period and to prevent any incorrect postings. 
  
  How to use it: 
  Period control can be set up in the SAP system by going to the “Define Period Control” transaction code (OB29). Here, users can define the periods in which certain activities can be performed. For example, they can specify that depreciation can only be posted in certain periods or that asset master records can only be created in certain periods. 
  
  Tips & Tricks: 
  It is important to note that period control is not a mandatory feature and it is up to the user to decide whether or not they want to use it. However, it is highly recommended as it helps to ensure that all activities are performed within the correct period and prevents any incorrect postings. 
  
  Related Information: 
  For more information on period control in SAP FI-AA Asset Accounting, please refer to the official SAP documentation here: https://help.sap.com/viewer/product/FI_AA/731/en-US