This support note applies to:
- AO Assets Live (NZ)
- AE Assets Live (NZ)
In Client Accounting - Assets version 5.4.31, depreciation on assets held for only a part of the year calculate based on the number of days held in the year, instead of months held.
For example, an asset with the following information:
- Acquisition date: 31/01/2019 (60 days held / 3 months held).
- Original cost: $39,122
- Depreciation rate: 25% diminishing value (DV)
|Client Accounting (incorrect)||Correct calculation|
|Original cost * depreciation rate * (days held / days in year)||Original cost * depreciation rate * (months left in year** / total months in year)|
39122 * 25% * 60/365
39122 * 25% * 3/12
**months left in year includes the month in which the asset is acquired
We're aware of this issue and we're looking into a solution.
MYOB INTERNAL STAFF ONLY
Insert PR# 171595053584