Cannot post Fixed Asset budget Journal

When tying to post Fixed Asset budget journal (GL>FA>FA Budget) and post by clicking “Transfer to fixed asset budget”, I got this error message.

“Period for 1/31/2012 is not open in DFLT asset calendar.”

How can I proceed?

When you attach a fixed asset calendar to the Value Model, it uses that fixed asset calendar will be used rather than the financial periods defined. It seems that the posting period in the fixed asset calendar is not open. Check GL → Setup → Periods → Fixed Asset Calendars –> Periods and check the status.