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Why is My Depreciation Formula Not Working?
Hi Gurus!
I have a situation and I believe you are my only resort! :)
So, I need to write a formula where, for a new asset,
1st year depreciation = ( (50%) of (20% of NBV) ) & (divide it by number of periods in the first year)
Following years = (20% of NBV) divided by number of periods in that year.
My formula: IF (NB=OC) THEN ( (NB*0.2) /2/12 ) ELSE ( (NB*0.2) /12 ) ENDIF
Questions please:
- NS won't allow me to save this formula for some reason.
- NB = OC indicates original cost = NBV and this is to show that it is the first year of this asset.
- To make this NB=OC work, I believe I need to set the depreciation method to "annual depreciation, monthly posting" in the depreciation period field, correct? This way, say if the 1st period has only 2 periods, NS will find 50% of 20% of NBV, which will be annual amount, and divide it by 2 periods, which will be the idea of monthly posting?
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