Fixed Assets was designed to provide an accurate reflection of accumulated depreciation based on a regular interval of 'period end' processing. Whether or not this is done monthly, quarterly or yearly is really up to the End User and how their depreciation schedules are setup (recovery schedules). Further to this is the fact that an Asset added to the Fixed Assets system in the current period cannot be disposed of in the same period - thus, a Period End processing is required to prepare the assets for the next depreciation process.

In a typically functional Fiscal accounting system, 'Period End' normally goes hand in hand or is synonomous with month end - to keep all integrated accounting packages running smoothly and 'on the same page' financially speaking, the 'period end' processes should coincide with each other.

To dispose an Asset in the same year it was acquired, you need to perform at least one 'End of Period', using the 'Update' option (make sure to do a backup FIRST - once you choose Update there is no going back!). (If they only want to do one EOP in any given Fiscal year, then it would logically be the Period 12, which would get the system ready for End of Year.)

Once they have completed the 'Period 12' End of Period processing, they will be able to use the 'Adjustments' menu option to adjust Acc Dep and YTD Dep for any assets that require adjusting. NOTE: Adjustments can only be entered AFTER completing the Period 12 EOP and PRIOR to doing the End of Year in Fixed Assets.

This information can be found in the FA manual as well.

Good luck!