Catch up depreciation for assets added in mid year

I need to add assets to my tax books.  We are currently in Period 7 but the asset information that I have is from the end of last fiscal year.

When I add the assets in the current period with Cost and Reserve as of the end of last fiscal year, will the system calculate the current year depreciation?

Example:

Asset # 12345 at fiscal year end has Cost of $500, Reserve of $249.90, Original Life of 5 years, Remaining Life of 30 periods.  I will add the asset cost, asset reserve, and zero YTD depreciation into Oracle in Period 7 of the current year.  When I run depreciation shouldn't I see $58.31 (Period Depr x 7 periods) in the YTD field????