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Will Not Having "Acquisition Date" Column in Fixed Assets Migration Cause Issues?

edited Jun 2, 2025 2:32PM in Ask A Guru 3 comments

Hello, Gurus!

Happy New Year :)

Scenario please:

If I do not have the acquisition date column while preparing and mapping my fixed assets when migration, will it cause any ramifications?

Potential use:

It is not a required field, but do we know if it uses it for any "depreciation convention" such as mid-month, which means basically that if the asset is purchase before the middle of the month, it will depreciate it in that month of purchase, but if it is purchased past the midpoint of the month, then it will depreciate it first beginning in the next month.

Thanks!

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