Setting up Mid Quarter prorate conventions
For a Fixed Asset conversion, I am attempting to set up a mid quarter prorate convention. The assets being converted were purchased by the current company on October 31, 2007. For tax purposes, the assets that were part of the purchase must have a prorate date of November 16, 2007 (the mid quarter date). These assets should have 1.5 months depreciation calculated for 2007. All assets placed in service post acquisition, will have a mid year prorate convention (6 months depreciation calculated in year of acquisition). I have set up a prorate convention as follows --
01-JAN-2007 to 31-MAR-2007 prorate date of 16-FEB-2007
01-APR-2007 to 31-JUN-2007 prorate date of 16-MAY-2007
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