What can you NOT do after Fixed Assets has been closed?

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Posted on by StefanieC

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Does anyone know of any list of things you can no longer do once the Fixed Assets year has been closed? I always just come across them but a customer is asking me for a list.

Thank you,

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Microsoft Dynamics GP

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StefanieC 434 on at

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RE: What can you NOT do after Fixed Assets has been closed?

Thanks!
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Josh Page on at

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RE: What can you NOT do after Fixed Assets has been closed?

The most common issues I end up seeing is.

1) You can only reverse depreciation to the last day of the previous year.

2) You cannot unretire an asset in a previous year.

the biggest issue tends to be when users do not run depreciation through the last day of the year before closing. This will cause the first depreciation to take a full year depreciation on the last day of the year that was just closed (since the year end closing process 0's out the YTD, and in the final period of any year, FA will take the difference between the YTD depreciation and the calculated yearly depreciation rate).

This as well as all the year end closing process itself is covered in the below article. (The issue noted above is Question 3 in the FAQ section)

docs.microsoft.com/.../the-year-end-closing-procedures