Mid Month Convention
Hi,
My requirement is, no matter when the Asset is placed in service only 15 days Depreciation need to be calculated for that month.
And here after complete month Depreciation should be calculated. Only for the first month 15 days Depreciation need to be calculated.
If i use Mid Month Convention, i think it will just start the convention in middle of the month. But the depreciation will be calculated for whole month, say 15-Jan to 15-Feb.
But when Asset is placed in service on 01-Jan then Depreciation need to calculated only for 15 days in the month of Jan.
Please let me know how we can achieve this.