Error: Period Depreciation transactions must be entered sequentially

When trying to add a period depreciation transaction to an asset record, user gets error: 'period depreciation transactions must be entered sequentially'
The error message: 'period depreciation transactions must be entered sequentially' is due to a month (period) of depreciation missing from the asset's activity. 

For example if you have the asset's acquisition date as 08/01/02017, there has to be a period depreciation transaction listed for the month of August before they system will let you enter a period depreciation transaction for the month of September. 
 

Steps to Duplicate

1) Got to fixed assets module
2) Click Records > Assets
3) Open Asset record
4) Click on Activity Tab 
5) Choose 'New Period Depreciation' 
6) Transaction Type: Period Depreciation
     Transaction Date: xx/xx/xxxx
     Amount: $x.xx
7) Complete the GL distribution tab
8) Click Save and Close
9) Get error message 

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