System not allowing dep. key change, OAAR 2014 and FI fiscal year is 2016

[ssbhangu]

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[former_member198650 · Accepted solution]

Hi Surbhi,

If you are changing the dep.key from 01.04.2014, then at least one period should be opened for the year 2014-15 in OB52. However, your asset year end also done for 2014. It is not possible until you re open the year in OAAQ for the asset.

Regards,

Mukthar

[ssbhangu · Accepted solution]

In OAAQ - I opened 2014 but got same error again.

Another thing in this particular case is that business will open 2017 as March 2016 ends. So they Feb 2016 is period 11 2016, instead of period 11 2015 as per Indian fiscal yr system.

so in OB52 which year should be open. And also in asset master, should I be adding new interval from 01.04.2014 or 01.04.2015 as per new company act.?

[former_member198650 · Accepted solution]

In OAAQ you have to change the year as 2013. Then only 2014 will open in AA. In OB52 you have to open period 12/2014. The new co.act applicable from 1/04/2014, so you have to maintain the interval from 01.04.2014 in the asset master.

[ajaycwa1981 · Accepted solution]

Hi Surbhi

are you Ina position to open previous fiscal years inob52 and do the delta depreciation postings in previous fiscal years??

This looks strange to me. Make sure you have all approvals

In oaaq, technically, 2013 should be there. But I wonder who on earth will allow you to make postings 2 year back

Ajay M

[ssbhangu · Accepted solution]

The requirement is for implementing asset depreciation as per schedule II, and which is applicable since 01.04.2014 for the remaining useful life of the asset.

This is a legal requirement per Company Act, so it has to be implemented.