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

SAP Term: period control method

• Component: FI-AA

• Component Name: Asset Accounting

• Description: A system object that controls what assumptions the system makes when revaluating asset transactions that are posted partway through a period. Using the period control method, for example, you can instruct the system only to start revaluating asset acquisitions in the first full month after their acquisition. The period control method allows different sets of rules for different types of asset transactions, for example, acquisitions and transfers.

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• Key Concepts: 
  The period control method in SAP FI-AA Asset Accounting is a way to control the period in which an asset is posted. It is used to determine when an asset should be posted and when it should be depreciated. The period control method can be set to either “open” or “closed”. When set to “open”, the asset can be posted and depreciated in any period. When set to “closed”, the asset can only be posted and depreciated in the current period. 
  
  How to use it: 
  The period control method is set in the asset master record. To access the asset master record, go to the Asset Accounting menu and select “Asset Master Data”. Then select the asset you want to edit and click on the “Period Control Method” tab. Here you can select either “open” or “closed” for the period control method. 
  
  Tips & Tricks: 
  It is important to remember that when setting the period control method to “closed”, you will not be able to post or depreciate the asset in any other period than the current one. This can be useful if you want to ensure that all assets are posted and depreciated in the same period. 
  
  Related Information: 
  For more information on SAP FI-AA Asset Accounting, please refer to SAP Help documentation or contact your local SAP support team.