Fixed Asset Depreciation calculation is wrong:

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Posted on by Manikandan

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I have an asset which is acquisition on 4/13/2010, value is 47.2 and its life is 3 years. It's depreciation method is "straight line org life", Average Convention is none and No Switch over. The depreciation is period based and there are 12 period per year. So the depreciation is 1.32 per period. Actually it's depreciated properly until the 3/31/2013. But for the 4th period of 2013 is depreciated for 4.45 instead of 0.52(it's only for 13 days because the asset life is ending). So the total asset valve comes 51.15. Same error happens to another asset also. the wrong depreciation is happening at the end of the life.

Please advice,

Thanks,

Manikandan

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