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

Posted on by 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, MCP, CSA Profile Picture
    Frank Hamelly | MVP... 4,029 Super User 2024 Season 2 on at
    RE: Depreciation not calculating correctly for Mid month (15th of month) Convention

    Thanks Ludwig, as always!  Frank

  • Verified answer
    Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at
    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

  • Suggested answer
    saurabh bharti Profile Picture
    saurabh bharti 15,039 Super User 2024 Season 2 on at
    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?

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