Depreciation ceiling with depreciation Limit
Hi,
I need some support in order to understand how to achieve the following example:
For this asset I want to setup a depreciation ceiling and a depreciation limit as follows
Asset cost: 531,120.69
Asset life: 48 months
DPIS: 01-OCT-2014
Prorate Convention: Current Month
Monthly depreciation: 11,065.01
Lifetime depreciation limit: 175,000
Annual limit: 43,750
I am adding the asset in the current open period which is Nov-2016 with a YTD Depreciation = 43,750 and an accum depr= 120,695.04
When a run the depreciation, I am expecting not to see any amount since the asset has reached the annual limit of 43,750 but I am getting the following:
Also please find attached the setup for the ceiling and the asset.