Fixed Assets Depreciation Formula
Hi All
I have an asset with a life of 12 months. The asset is being entered in JDE in Period 7 and we want to depreciate the asset for the first 7 periods on a straight line basis in Period 7 and then charge pro rata depreciation (1/12) also on a SL basis from Period 8 to 12.
For example if the asset costs $12,000:
I want the formula to do the following:
Period 7
<period when new asset is entered in the system>
-Calculate catch up depreciation expense on a SL basis for 7 periods - $7,000
Period 8 to Period 12
Calculate pro-rata depreciation expense on an SL basis for each period - $1,000 per period.