Depreciate Warning in Sage Fixed Assets

Summary

  • Error: “Depreciate Warning”
  • Unable to depreciate assets.
  • “The depreciation run date entered is prior to the beginning date or period close date….”
  • The depreciation run date entered is prior to the begin date or period close date on one or more assets in the selected group. These assets will not be depreciated and will be excluded from the report. Do you want to continue?

Cause

  • Date-sensitive reports are designed to only show assets if they are currently depreciated to the reporting date.
  • Date-sensitive reports include – Depreciation Expense, Tax Expense, General Ledger posting, 4562 and other Tax Reports.
  • Non-date sensitive reports include – Depreciation Summary, Asset Basis, File Listing, Net Book Value, Period Close Summary.

Note – The Fixed Asset Summary report can be either. It is date-sensitive if, in the Report Definition window, Configuration options the ‘Include only assets calculated through the Run Date’ box is selected.

Resolution

This is a warning message. The message is warning that assets may have been adjusted since the last depreciation was run for a given date, or the date is prior to the last Period Close. When running depreciation on an asset(s) to a date prior to the ‘Beginning date’ or ‘Period Close date’, the asset(s) will not appear on the Depreciation Expense Report.

To check which asset(s) this message pertains to, after depreciating, run the Depreciation Summary report to see which assets do not have the desired depreciation date in the Thru Date column.

These dates can be verified in the asset’s detail view. In the desired book column (i.e. Internal):

  • The Beginning Date is found amongst the last three black fields (aka Beginning Fields)
  • The Current Through Date is the first blue field
  • The Period Close date is found amongst the last three blue fields at the bottom of the book (Period Close Fields)

NOTE: For Sage Fixed Assets Premier-Depreciation, if using an Alternate Account cycle (i.e. 4-5-4, etc.), insure the date used when running depreciation is the correct period end date.