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“Assets have not been fully depreciated for the current year” error in Fixed Assets in Microsoft Dynamics GP

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Symptoms

When you try to close year-end for Fixed Assets in Microsoft Dynamics GP, you are prompted with the following message:

Assets have not been fully depreciated for the current year. Do you wish to continue?

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Cause

This message means that the system recognizes an asset that is not fully depreciated to the last day of the fiscal year. If all assets are not depreciated to the last day of the year, depreciation may be overstated in the following year. 

Note This behavior may also occur if an asset has a depreciation method of No Depreciation. If that is the case, you can click through the message. This issue was logged as Quality Issue #63786 and was resolved in Service Pack 4 (SP4) for Microsoft Dynamics GP 2010 and in SP1 for Microsoft Dynamics GP 2013.

Partial open assets may also trigger this error. That scenario is currently being investigated. 

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Resolution

To make sure that all assets are depreciated to the last day of the year, follow these steps:
  1. On the Microsoft Dynamics GP menu, click Tools, point to Utilities, point to Fixed Assets, and then click Build Calendar. Click the Inquire button, and then confirm the last day of the year.
  2. On the Microsoft Dynamics GP menu, click Tools, point to Utilities, point to Fixed Assets, and then click Depreciate. Run the depreciation process to the last day of the year.
  3. Run the following script in SQL Server Management Studio against the company database to determine whether there are other assets that have not been depreciated to the last day of the year.
      
    select Distinct a.ASSETID, b.DEPRTODATE 
from FA00100 a, FA00200 b, FA40200 c
 where a.ASSETINDEX=b.ASSETINDEX 
  and c.BOOKINDX=b.BOOKINDX and a.ASSETSTATUS not in (3,4) 
  and b.FULLYDEPRFLAG='N'  
  and b.DEPRTODATE < (select top 1 PERIODENDDATE from FA42100 where FISCALYEAR='YYYY' order by PERIODID desc) 
  and b.DEPRECIATIONMETHOD <> 15
    If any results are returned, view the assets that are specified there. If no results are returned, you should be able to close the year. In that case, the problem is probably one of the following: 
    • The No Depreciation method that was described in the "Cause" section
    • Partial open assets
    Note Replace the YYYY placeholder in this script with the last day of the fiscal year (as determined in step 1).
  4. For versions that are earlier than SP4 for Microsoft Dynamics GP 2010 (before version 11.00.2248) and earlier than SP1 for Microsoft Dynamics GP 2013 (before version 12.00.1333), run the following script in SQL Server Management Studio against the company database:
      
    SELECT * FROM FA00200 WHERE DEPRECIATIONMETHOD = 15
    This determines whether there are any assets that have a depreciation method of No Depreciation. If there are, you can click through this message.

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Article Info
Article ID : 2929773
Revision : 3
Created on : 5/25/2017
Published on : 5/25/2017
Exists online : False
Views : 270