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  • 1.  Setting up Fixed Assets

    Posted Oct 09, 2021 12:43 PM
    We are working on setting up fixed assets and running into an issue when trying to configure the Depreciation Book Code.  In the Book Code setup, there is a field "Fiscal Year 365 Days" which signifies that the system should use 365 days in a year versus 360.  The problem is that when we turn on the option to have 365 days in a year, when we try to setup the "No of Depreciation Years" in the asset card, it will not let me enter in a value for the number of years.

    The error we get is "Fiscal Year 365 Days must be equal to 'No' in Depreciation Book: Code = Company.  Current value is 'Yes'.

    Does anyone know why there is a connection between the number of days in a year and the ability to assign years in the card?


    Paul Silvani
    Chicago IL

  • 2.  RE: Setting up Fixed Assets

    Posted Oct 09, 2021 04:50 PM


    Hi Paul,


    Since you select that option, the system is considering the Start date and end date field. The "No of Depreciation Years" is applicable when this field is "Fiscal Year 365 Days" is off and based on standardized year of 360 days. Please see below.




    Sample FA G/L Journal after running the calculate depreciation.









    Director – Implementation Services    




    T: 587-355-9829   







  • 3.  RE: Setting up Fixed Assets

    Posted Oct 09, 2021 09:58 PM

    Thanks for the reply.
    All of the pieces make sense now.

    Paul Silvani
    General Manager
    Chicago IL

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