Fixed Asset half year convention needs to post depreciation back to beginning of half year

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Posted on by Althea ADS

Our customer on GP18R2 has been using GP since GP7. They now want to implement the Fixed Assets module. They are currently using a half year method outside of GP. They are fiscal year 7/1 - 6/30. Here are two sample assets and how they want them to depreciate (monthly).

New asset 9/15/19 for $36,000 3 yr, so $12,000/yr, $1,000 month. When they enter the 9/15/19 date in service with half year (or modified half year?) they want $1,000/mo depreciation to begin 7/1/19 - 9/30/19, then $1,000 month thereafter.

Same asset with date of service 4/15/20 - they want it to back post to 1/1/20 - 4/30/20 at $1,000/mo and each month thereafter.

That being said - both half year conventions in GP don't seem to back post to the beginning of the half year. Can this be accomplished with using a switch in the depreciation method? Or some other way?

Any guidance is greatly appreciated!

Thanks,

Althea

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Althea ADS 10 on at

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RE: Fixed Asset half year convention needs to post depreciation back to beginning of half year

**UPDATE** They now tell us they are not allowed to post to past/closed periods. So to add a twist, in the first example, they need to post the summary of $3,000 to 9/30/19, then $1,000/mo thereafter and the second example, they need to post summary of $4,000 to 4/30/20 and $1,000 thereafter.

Is there any way to do that using half year and/or switch?

Thanks!

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