Date placed in service

[rangareddy.apps]

Hi Guru,

I have a very basic doubt

In the FA the deprecation will starts from date placed in service date
or else the next day from the date placed in service.

For Ex: I have on asset entered the date placed in service on 01-Aug-09
if i run the deprecation the deprecation will starts from the date of 01-aug-09 or else deprecation starts from the next day of the Date placed in service (02-Aug-09)

[karthikeyanp1981]

Date placed in Service alone is not enough for the system to compute the depreciation, there is some thing called PRORATE CONVENTION.
This convention tells the system from which date depreciation must be computed and which date it must be charged......
Based on that, dates are taken in to account ...

[stalinvstalin@gmail.com]

hai,

system will take pro rate convention date.

setup-asset system-prorate convention
in this we can define our own conventions based on our company policy.
like half yearly,same month,previous month,following month etcc
in this we give "PRO RATE DATE" system will calculate based on this date

ex:suppose if our prorate convention is same month and date is 1-aug-2009 though we buy asset on middle of the month while running dep system will take date as 1st.if i am wrong please let me know

stalin