Target date's fiscal year may not be greater than the current fiscal year for the selected book

We do get a lot of question asked why they are not able to perform fixed asset depreciation with the following message shown "Target date's fiscal year may not be greater than the current fiscal year for the selected book".

The message happens when user are doing their first depreciation in the new financial year. What missing here is user did not perform Fixed Asset Year End Processing, although they have done the Financial Year End processing in Dynamics GP. Take note that Financial Year End processing doesn't include Fixed Asset module, it need to done separately.

To perform Fixed Asset Year End Processing:-

Path: MSDGP > Tools > Routines > Fixed Asset > Year End

i. Select the book that sitting in "Available Books", and "Insert >>" to the "Selected Books".
ii. Select "Continue" to proceed on the year end processing for fixed asset.
iii. This process should takes around 3 to 5 minutes. Once it is done, no message or report will be printed.

iv. To confirm the year end processing has been completed, you can check
the "Current Fiscal Year", it should show the same year as your financial year.

Path: MSDGP > Tools > Setup > Fixed Asset > Book

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