What does periodic asset postings mean?

Hi..
I want to know what is the significance of running ASKBN (Periodic Asset Postings). I do not know how it effects the assets or what does this do? I know that the depreciation posting run (AFAB) posts the depreciation on the individual assets, but why is ASKBN run?
Please explain in simple words...
thanks
Satya

Hi Satya,
Your company or client would use this 'periodic' posting to post depreciation to a different GL account for consolidation or IFRS or some other financial/regulatory reporting purpose.
You may find the depreciation value is different because you need to apply different rules for calculating depreciation.
You may find the APC (acquisition value) is different.
In some years past, clients might use the periodic posting to post tax depreciation to the GL accounts specifically for tax reporting. However, this is no longer a recommended practice where you would have to open your leading financial ledger for a prior year. Tax will often need to make adjustments to the prior years...and from a financial perspective, you rarely, if ever, open the prior financial year.
Hope this helps.
Regards,
Kent Bettisworth

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