Depreciation not calculating correctly for Mid month (15th of month) Convention

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Posted on by Frank Hamelly | MVP...

4,029 Super User 2024 Season 2

Have an asset that is setup using Straight Line Remaining Life and Mid month (15th of month) Depreciation convention. In the last year of the Remaining life, the monthly depreciation amounts are reduced by an amount equivalent to the last month's depreciation and when fully depreciated, that last 1/2 month depreciation is remaining as Net Book Value. See Asset book set up and the Asset transactions screen shots. Has anyone seen this behavior? It almost seems like a bug associated with either the SLRL method, the Mid Month 15th Convention, or a combination of the two. Thanks in advance for your help

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Frank Hamelly | MVP... 4,029 Super User 2024 Season 2 on at

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RE: Depreciation not calculating correctly for Mid month (15th of month) Convention

Thanks Ludwig, as always! Frank
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Ludwig Reinhard Microsoft Employee on at

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RE: Depreciation not calculating correctly for Mid month (15th of month) Convention

Good morning Frank,

I think that your issue is related to this bug (Issue 463981)

fix.lcs.dynamics.com/.../Details

There is still no hotfix out yet but in development from MS.

Guess we have to wait a bit to get this fixed.

Best regards,

Ludwig
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saurabh bharti 15,039 Super User 2024 Season 2 on at

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RE: Depreciation not calculating correctly for Mid month (15th of month) Convention

Hi,

Did you try running depreciation for last month?

Did you check if you have Expected Scrap value?

Did you check if leave net book value at " parameters i setup in books?