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If target date is prior to the current year for any book, it must be the last day of the year.

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Posted on by Community Member Microsoft Employee

I am getting the below error when trying to depreciate in fixed assets. My date is 1/31/2011, and I had already closed 2010.

"If target date is prior to the current year for any book, it must be the last day of the year"

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Community Member Microsoft Employee on at

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RE: If target date is prior to the current year for any book, it must be the last day of the year.

Ok, here's what we just did and it worked for us. Under Book Setup we changed the Current Fiscal Year to our current fiscal year. It was showing as our previous fiscal year as that's when we started the project of transferring our assets from a spreadsheet. It is my understanding that this will update now when we do the yearend process.

Hope this helps.

Jen
Community Member Microsoft Employee on at

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RE: If target date is prior to the current year for any book, it must be the last day of the year.

Hi

Unfortunately not yet.

Imzan
Community Member Microsoft Employee on at

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RE: If target date is prior to the current year for any book, it must be the last day of the year.

Hi,

Did you ever find a resolution to this? I'm having the same issue.

Thanks,

Jennifer
Community Member Microsoft Employee on at

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RE: If target date is prior to the current year for any book, it must be the last day of the year.

I am getting this error message when trying to retire an asset. The Current Year is 2015 and the retire date is 9/25/15?

"Retirement Date must be in or before the current fiscal year for any book"

Regards,

Imzan
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Re: If target date is prior to the current year for any book, it must be the last day of the year.

I am getting the same error for a 7/31/12 depreciation. This is the first period of Year 2013 however (July to June fiscal year) . I closed 2012 and the next year in line to be closed is 2013, which is correct. Any help would be cool.
Tammy Chavez 820 on at

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Re: If target date is prior to the current year for any book, it must be the last day of the year.

I just had this happen to a client today. I went in to the table and changed the year as you said Leslie and it worked perfectly. Thank you!
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L Vail 65,271 on at

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Re: If target date is prior to the current year for any book, it must be the last day of the year.

In our situation I changed the year back and everything went fine. The table.field was FA40200.CURRFISCALYR.

Kind regards,

Leslie
L Vail 65,271 on at

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Re: If target date is prior to the current year for any book, it must be the last day of the year.

If you go into Financial > Routines > Fixed Assets > Year End, what year is next to the books in the left-hand side of the window? I have seen the year inadvertently closed twice when this error was received. It's easy to fix (behind the scenes).