TechKnowledge Content
Issue
Message 30910015 - 'The asset is fully depreciated.' occurs when the Depreciation Target Date is entered in Depreciate One Asset.
Potential Causes
Under Cards | Fixed Assets | Book, select the Asset and Book you are depreciating. If the fully depreciated flag is set to yes, then one of two things is happening: either the Remaining Year, Days is set at zero, or the Net Book value is zero.
Resolutions
Resolution 1 - The Remaining Year, Days is set at zero
To correct this, make sure that the Remaining Life, Days is corresponds with the depreciated to date and the Original Life Year, Days. If the Original Life Year, Days is incorrect please change it so the Remaining Year, Days populates a number. Once this field is changed, a warning message will appear that says you have changed a depreciation sensitive field. There are three options: Reset Life, Reset Year, and Recalculate. Here are what each of those options do, please choose one that works best for your business needs:
Reset Life: This option recalculates from the Placed in Service Date up through the Depreciated to Date. Depreciation adjustments will be made for each period.
Reset Year: This option calculates a new yearly depreciation rate, and uses this rate to begin recalculating depreciation from the beginning of the current fiscal year (defined on the Book Setup) up through the Depreciated to Date.
Recalculate: This option calculates a new yearly depreciation rate as of the beginning of the current fiscal year, but doesn't begin using this rate until the next time depreciation is taken on this asset. Because the remaining life has not changed based on the placed in service date, this should not affect prior depreciation amounts, as the asset was calculated based on the Placed in Service Date up to this point.
Resolution 2 - The Net Book value is zero
Verify that the depreciation has calculated correctly given the depreciation settings for the asset book. If the asset was not calculated correctly (e.g. using an averaging convention when one shouldn't be there, a switchover was used when it should not have been, incorrect depreciation method) please make the adjustments to the asset book. If a warning box appears that you have changed a depreciation sensitive field, please make a selection based on the calculation methods described in Resolution 1.
In the case that the previous scenarios do not apply, please review the following to determine how to proceed:
Please make a backup.
Run a GL Interface to make sure all depreciation is interfaced to the General Ledger.
Delete the Asset Book record by going to Cards | Fixed Assets | Book, selecting the Asset ID and the Book ID, and clicking Delete.
Note - this will not update General Ledger. This will delete the Asset Book record in the Fixed Asset module.
Re-setup the asset book record. Then run depreciation up until the last depreciated to date. For questions on setting up the asset book, please reference TechKnowledge document #6458, "Starting to use Fixed Assets."
Run another GL Interface and delete the GL batch to prevent GL from being updated again. Verify that GL balances are correct before making this decision.
Once this is saved, verify that the Financial Detail (Inquiry | Fixed Assets | Financial Detail) is correct.
This article was TechKnowledge Document ID: 27383
