Flat Based Method of Depreciation
For our tax books, we are using Flat Based Method Type with NBV Calculation Basis. The prorate convention is monthly.
There is a requirement to calcualte depreciation in the first month based on the date placed in service. The depreciation can only apply to the specific number of days in service in that initial month. So if an item went into service on the 20th of June, then depreciation could only apply to 11 days in that month rather than the full 30. Currently, the system calcualted depreciation for the whole month,
How can we handle this?
Thanks!