Hi Uma,
You must be aware that fiscal year in asset and GL are two different things. Please ensure that you have carried out depreciation and then closed both fiscal year 2006 & 2007 for Asset Accounting (AJAB) then try to open fiscal year 2008 (AJRW). If you have done this but still getting the problem then can you please share the screenshot of error?
Regards
Pankaj Pareek