Incorrect Depreciation Charges for Asset Entered with Prior Depreciation
Hi All
We have entered a previously depreciated asset into the Fixed Asset Module. The asset has a life of 36 months and is being depreciated straight line. Details are as follows:
Account Category: 600 Computer Software Major Equipment .
Cost Account: 500.18610 Subledger/Type:
Accum Depr Acct: 500.18620 Description: Straight Line Pattern: A
Depr Method: 01 Straight Line Depreciation Initial Term: First Day of First Month Life Periods: 36
Opening Balance entered:
Cost $1,350,0000
Accumulated Depreciation: $712,500
Start of Year 29/06/2015
Compute Direction: I Inception To Date
Actual Date 31/12/2013
Start Date 30/12/2013
End Date 29/12/2016
Year 3
Cost $1,350,000.00
Inception to Date Depreciation 781,250.00
YTD Depreciation $68,750.00 for 2 period
Rule 1 Depreciation Basis Lower Limit Upper Limit Salvage Value Annual Multiplier Apportionment