Fixed Asset Disposals: Depreciation Calculations
When disposing of an asset part way through a month what order shall we process depreciation? Prior to disposal or after disposal. During scenario testing we disposed of asset on 15/10/13 which picked up the depreciation calculated in September to calculate gain or loss on sale but nothing included for October. Note when disposing of asset in client's legacy system, depreciation for part month is automatically calculated as part of the disposal process. Then when we run depreciation for 31/10/13 for the asset that had been disposed there was no depreciation calculated for the period 1-14/10. Note asset was using