Issue

Navigate to Entity Level > Periodic Processing > Period Updates > Current Financial Year > New Period > Process

When processing a Period Update the following warning message appears: 'There is a residual balance in the current year depreciation worksheet for XXX. Please navigate to the depreciation worksheet to resolve.'

Troubleshooting

There is residual balance in the depreciation worksheet in current year resulting the warning message. The depreciation worksheet should have all assets added and no residual book cost remaining.

Navigate to Entity Level > Investments > Depreciation Worksheet > Property Tab

Resolutions:

1. If the book cost has a positive residual value, it means the total cost of the fixed assets are less than the actual book cost. Adding a new fixed asset or adjust the purchase cost & opening written down value from the line items.
   
2. If the book cost has a negative residual value, it means the total cost of the fixed assets are greater than the actual book cost.
   -Check your assets (other than original purchase) have all been processed as 'Property Capital Improvement' events
   -Reduce the Purchase Cost and Opening Written Down Value to remove the negative residual