Depreciation during Fiscal Y/E date change including short tax year and change in number of periods
Hi,
We are looking at changing our Y/E date from one Fiscal date pattern to another Fiscal date pattern. As a result we'll be changing from 13 periods to 12 periods and this results in having a short tax year before the new full Fiscal date pattern comes to live. So the years we're going to have are:
FY15: July 15 - June 16 (13 periods)
FY16: July 16 - December 16 (6 periods)
FY17: January 17 - December 17 (12 periods)
Looking at various discussions it doesn't seem as anyone got a clear answer how to get round this with depreciation being calculated correctly during this type of changes.