How to process fixed assets

The sixth step in the period closing is the processing of fixed assets. Reviewing the investment account and the expense accounts is necessary to activate the amounts booked during the period and to deactivate fixed assets that need to be removed from the records.

To get a clear picture of the result at the end of a period, a number of manual entries need to be recorded in a simple financial setup of MKG. These entries ensure a pure result, an orderly situation, and direct insight into the value (composition of the value) of the work in progress, and in many cases, a situation where problem cases and/or incorrect entries can be easily adjusted.

Step 1: Review the investment account

Assess whether amounts have been booked on the investment account that need to be activated. Review the expense accounts to see if there are no amounts over € 450 disappearing into expenses that should be activated.

Step 2: Process the fixed assets

Deactivate fixed assets that need to be removed from the records and activate fixed assets that have been added in this period. Process the changes in the fixed assets.

Note!
If during the processing of fixed assets the entries have been transferred to the financial administration, this period disappears from the list of selectable periods. If changes need to be made to the depreciation plan, the period must first be definitively processed in the financial administration before the correction entry can be transferred to the financial administration. If not all periods are visible in the selection window, this implies that there are pending journal entries related to the fixed assets ready for processing.

Period Closing Checklist | To accurately present the financial result at the end of a period (year, quarter, month), a number of steps must be completed. This checklist serves as a guide during the period closing in MKG. Or go directly to one of the following items:

Knowledge Center
How to activate an investment
How to deactivate an investment

ledger account period cost entry result asset investment activate deactivate

Published:30 jun 2025 15:37
TypeHandleidingen
Category
Financial, Fixed Assets Financial, Ledger Accounts Financial, Periods
Product
MKG5
Availability
Openbaar