Open Forum

Expand all | Collapse all

Year End Fixed Assets

  • 1.  Year End Fixed Assets

    SILVER CONTRIBUTOR
    Posted Jun 26, 2013 03:44 PM

    It is the end of our fiscal year and I was closing Fixed assets, when I selected the book I wanted to close for the year I got a warning stating "Assets have not been fully depreciated through the last day of the current fiscal year. Do you want to close the year?". So I said no and closed out and ran my deprecation again to the last day of our fiscal year end and everything was fully deprecatiated. Do should I just click yes and continue even if i get this warning?

    -------------------------------------------
    Rachel Miller
    Siemer Milling Company
    Teutopolis IL
    217-857-2226
    -------------------------------------------


  • 2.  RE:Year End Fixed Assets

    Posted Jun 27, 2013 08:39 AM
    If you get this message again you should check things out.  I have had clients ignore the message and then find out after doing the year end close that an asset or assets do not depreicate correctly.

    I would  not expect that you would get this message if all assets were properly depreciated.

    -------------------------------------------
    Jeffrey Bloch
    Manager, Technology Consulting
    McGladrey LLP
    Blue Bell PA
    215-648-3134
    -------------------------------------------








  • 3.  RE:Year End Fixed Assets

    Posted Jun 27, 2013 06:52 PM
    When you ran your final depreciation run did you run it from period 0000-000 to your current year ending period 2013-012?
    Do you have any assets that are pending in the purchasing interface file?
    Do you have any un-posted FA batches in the GL Batch window?

    -------------------------------------------
    Michael Lupro
    Principal/GP Consultant
    Lupro & Associates LLC
    Gig Harbor WA
    253-514-6094
    -------------------------------------------








  • 4.  RE: Year End Fixed Assets

    Posted 12 days ago
    Data point for anybody reading this thread who had a similar error --
    Even if depreciation has been run, it may still need to be posted.  This can be done under Financial / Routines / Fixed Assets / GL Posting
    Next is the part Michael is referring to; Enter your posting date, then the Period From: should be 0000-00 thru the last day of your fiscal year.
    After this is processed, it will still need to be posted.

    ------------------------------
    J R Collova
    Dunwoody College of Technology
    Minneapolis MN
    ------------------------------



If you've found this thread useful, dive deeper into User Group community content by role