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Run Full Year Depreciation in one month

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Posted on by Heather Henderson

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We are attempting to run depreciation on several assets for the full year in one month (i.e. November) as our main event occurs in this month and the fixed assets are only used for the event. We set the asset up using Straight Line-Original Life - Averaging convention Full year - All year but that doesn't solve the problem. The assets depreciate through November but then there is a remaining balance for the year left to depreciate in December. Does anyone have any suggestions?

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Peter Muchira 1,910 on at

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RE: Run Full Year Depreciation in one month

Heather/Leslie,

Did uou get a solution to this matter. I am using the Full Year/All Year averaging convention, and the depreciation calculated is wrong. On one asset for instance, the remaining life is only a month. On running the depreciation, it distributes the Net Book Value across the remainder of the physical year.
L Vail 65,271 on at

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Re: Run Full Year Depreciation in one month

Hi Heather,

When you do the depreciation, are you depreciating through 12/31 so that you will get the fill year. Have you set the useful life to end in November. If the asset was acquired this year, I the full year All year averaging convention may be giving you the problem. Have you tried the 'Next Year' convention?

Kind regards,

Leslie

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