Fixed Asset Averaging Convention for Mass Retire - Quarters??

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Posted on by Community Member Microsoft Employee

Hoping someone here is able to help, cause I couldn't find anything anywhere else. When using Mass Retire for fixed assets, are we required (forced) to use Quarter Setup even if we use the Full Month averaging convention?

The GP manual specifies the below excerpt. We don't use mid-quarter averaging for anything; neither for calculating depreciation nor transferring groups of assets. Or do they mean we need quarter setup if we use "mid-quarter averaging for calculating deprecation" OR "transfer groups of assets"?

Also, the manual's steps for retiring a group of assets doesn't mention setting up quarters as a requirement (though it mentions building asset groups).

Is there some setting that was accidentally set to "quarterly" when everything else is "full month"?

There is no problem without quarters set up when I:

- retire a single asset in the Retirement Maintenance window.

- run depreciation for asset book.

- did anything related to assets that is not Mass Change/Retire/Transfer in the last 4 years. We've never set up quarters before.

This is the message I receive when I click [Retire] in the Fixed Assets Mass Retirement window.

My beautiful asset group:

Every setting I looked up from online suggestions show the averaging convention as Full Month. For example:

Thanks!

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Community Member Microsoft Employee on at

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RE: Fixed Asset Averaging Convention for Mass Retire - Quarters??

Thanks Harry!

Yes, I had checked each of the assets individually as well, and all were Full Month. I created the quarter setup as you suggested, and the Mass Retire worked fine after that.

For anyone else who may encounter this: As far as I can tell, there were no negative effects or changes to the depreciation calculations, or when adding new assets. The assets I mass retired were all fully depreciated (NBV of 0), so it's hard to say if there were any effects on the mass retirement process itself.
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Redbeard 12,931 on at

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RE: Fixed Asset Averaging Convention for Mass Retire - Quarters??

Chameshi -

I think I understand your confusion. You are trying to mass retire a group of assets, and the error you are getting makes no sense, because the asset class is set to use the Full Month, which has nothing to do with quarters. I imagine you've checked the members of your "beautiful asset group" to make sure none have a quarter-related setting, despite their class?

If you've done this, then the best approach would be to use the documented process to setup quarters for 2017, so you can get past the error, and retire your assets. Here's a link that includes instructions on how to perform this task, which I believe is in the same section of the documentation you referenced in your post.

support.microsoft.com/.../how-to-set-up-fixed-asset-management-in-microsoft-dynamics-gp
Community Member Microsoft Employee on at

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RE: Fixed Asset Averaging Convention for Mass Retire - Quarters??

Hmm, the screenshots didn't post.