Depreciate Assets pop-up

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Posted on by Community Member Microsoft Employee

When I go to depreciate my assets for the first quarter, it says "Target Date's fiscal year may not be greater than the current fiscal year for the selected book."

Anyone know how I can fix this?

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Redbeard 12,931 on at

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RE: Depreciate Assets pop-up

After depreciation is run, in order to book the GL entries the GL Interface must be run for the period(s) depreciated. Go to Financial > Routines > Fixed Assets > GL Posting. Select the posting date, enter a GL Posting Reference (optional) and then enter the period(s) you just processed depreciation for.

Unless you want all of the depreciation posted to the same date you should not select more than one period at a time. If processing for example January 2015 to present, I would recommend choosing 1/31/2015 and period from 2015-001 to 2015-001, then 2/28/2015 and period from 2015-002 to 2015-002, etc. etc.

Since this is new to you, you should have a back up handy, in the off chance you experience any difficulty.
Community Member Microsoft Employee on at

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RE: Depreciate Assets pop-up

I was able to post depreciation expense to the general ledger, but now I'm seeing that a journal entry was not created to mark down my actual asset accounts. Am I missing a step?
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Redbeard 12,931 on at

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RE: Depreciate Assets pop-up

Grady is very likely right.

In order to continue processing depreciation you will need to perform the Fixed Assets Year End Routine. Goto Financial > Routines > Fixed Assets > Year End and Insert your book(s) and select continue. This will allow you to move forward with depreciation.
GMA 1,072 on at

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RE: Depreciate Assets pop-up

Did you process Fixed Assets year end closing? That would be my first guess.