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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / Fixed Asset Retirement...
Microsoft Dynamics GP (Archived)

Fixed Asset Retirement Error in GP

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Posted on by Community Member Microsoft Employee

Hello,

We are retiring an asset that we sold this month and received cash for. It was sold at a loss. It was sold on 1/22/2016. I plan on running depreciation on this asset as of that date of sale. I then would like to retire that asset as of that date and then run through the cash receipt process as well. As we attempted this in the system as well as our test system, we could not proceed with the retirement process.

Once in "Retirement Maintenance", we completed all the necessary areas such as the retirement date, retirement type and code (Sale). And also retired the asset at 100%.

We receive an error message that states "Retirement Date must be in or before the current fiscal year for any book".  We followed all the basic parameters that are outlined in the retirement process. I can not pinpoint why we receive this message. We are a 3/31 fiscal year end company and everything else as I can tell is up to date.

Any advice and feedback is greatly appreciated.

Thanks 

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  • Community Member Profile Picture
    Community Member Microsoft Employee on at
    RE: Fixed Asset Retirement Error in GP

    Hi, 

    I am having the same issue . Someone mentioned about the calendar if the asset was set up with same fiscal year but I don't see it under Retirement Maintenance window. 

    Our fiscal year ended 12/31/16 and I am retiring the asset 1/1/17. 

    Any help is appreciated. Thank you. 

  • Manikandan Profile Picture
    Manikandan 2,845 on at
    RE: Fixed Asset Retirement Error in GP

    Hi John,

    I believe your issue get resolved. Please make this as answered.

  • RogerRogerATX Profile Picture
    RogerRogerATX 1,515 on at
    RE: Fixed Asset Retirement Error in GP

    No problem John!

  • Community Member Profile Picture
    Community Member Microsoft Employee on at
    RE: Fixed Asset Retirement Error in GP

    Roger,

    I tried it and it works. Thank you so much. It is appreciated.

    John

  • RogerRogerATX Profile Picture
    RogerRogerATX 1,515 on at
    RE: Fixed Asset Retirement Error in GP

    Is your fixed asset year(s) setup to match your fiscal year?

    Check the Fixed Asset Calendar and click on Fixed Assets Year End (but don't touch anything) and see what year is listed on the screen.  If the date of retirement is after the last date in the fixed asset calendar then it won't work.

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