Fixed Assets - EBS (MOSC)

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Depreciation is not getting calculated when asset is retired in the same month of addition

edited Apr 30, 2020 5:10AM in Fixed Assets - EBS (MOSC) 5 commentsAnswered

Hi,

Depreciation is not getting calculated when asset is retired in the same month of addition.

For example.

Asset Cost - 100000

Accumulated Depreciation - 95000

DPIS - 01-JUN-2017

Depreciation Method - STL 3 Years.

Prorate Convention - Daily

Asset Added in the current open month of Apr-20 and retired in the same moth i.e. Apr-20 with the retirement date as 02-Jan-2020.

When we ran deprecation after retirement, there is no depreciation calculated for current year.

Ideally it should have calculated current year depreciation for 1 day i.e. 01-Jan-2020.

Thanks in Advance

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