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Errors

Error: There is Fixed asset data for this client that does not represent the current tax year

Scenario

You might see this error when opening an UltraTax CS client.
Error message
There is Fixed asset data for this client that does not represent the current tax year, XX/XX/XX. Further processing with this client will not be possible until there is either Fixed asset data for the tax year being processed or no Fixed asset data for this client.

Cause

There are several possible causes:
  • File locations are incorrect in Fixed Assets CS or UltraTax CS.
  • The depreciation files for the tax year have become corrupt and are unusable.
  • The depreciation files are still good, but have been assigned a Read Only or Hidden attribute that prevents the application from using the files.
  • The depreciation files are still good, but you don’t have the proper permissions to access the client's files in the DeprData directory.

Solution

Try each one of the following. After each step, try to open the client again.
  1. Correct the file locations in both applications by selecting
    Setup
    ,
    System Configuration
    , then
    Data Locations
    .
  2. Restart your workstation.
  3. Check the properties of both the DeprData folder and the client folder in DeprData to verify that you have full control of both directories and that the Hidden or Read Only attributes have not been marked. If the permissions and folder attributes are correct, then this indicates that the files have become corrupt. The best course of action is to restore the client from a backup.
  4. If you use Fixed Assets CS and the prior period has assets another option is to reclose the period and overwrite the corrupt files.
  5. Go to
    X:\WinCSI\DeprData
     and rename the client's folder. The client will open, but there won’t be any fixed assets. The assets will have been removed from all years of UltraTax CS and will have to be re-entered.

This article applies to:

  • Product: UltraTax CS
  • Return type: 1040 Individual, 1120 Corporation
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