What happens if you select a date before the fixed asset start date in the depreciation report settings?

If a date before the fixed asset start date is selected in the depreciation report settings, the figures may not be correct because the report is designed to calculate depreciation based on the asset's active lifespan. Depreciation begins only after the asset's start date; therefore, any date selected prior to this will not align with the asset's actual usage and depreciation timeline, leading to potentially inaccurate or misleading figures in the report.

The depreciation calculation relies on the asset being in service, so selecting a date before the start date implies that the asset had already begun to depreciate, which is impossible. This mismatch can result in a reporting error that might confuse users or lead to incorrect financial reporting. Thus, it's essential to choose a date that is equal to or later than the fixed asset's start date to ensure the figures produced in the report accurately reflect the asset's depreciation status.