Asset Workbench (FAXASSET) Form Errors With: "APP-OFA-48392 Amortization Start Date must be after Date Placed in Service" When Using Following Month (FOL-MONTH) Prorate Convention (Doc ID 427475.1)

Last updated on JANUARY 12, 2021

Applies to:

Goal

The asset is capitalized and already amortized and uses the following month prorate convention.
The date placed in service should be set to 17-MAR-2007. The current open period is April 2007 and the Amortization Start Date defaults to 01-APR-2007. When saving the transaction, the following error occurs:

Error

APP-OFA-48392 Amortization Start Date must be after Date Placed in Service.

Solution

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