Hi gurus,
As per OSS note 1148489, I configured my depreciation key and all methods too.
But when I run the reports for Area 10, I see that The 50% depreciation is being calculated correctly for the first year, ie. 2008, but for 2009, I see 25% less Ordinary depreciation than it should be.
We are using half year convention, taking 6 months of deprn in the first and last years, irrespective of when the asset is put in place during the fiscal year(in our case calendar year).
for example for an asset of 1000$ capitalized on 5/1/2008, I see a spl deprn of 500$ and an ordinary deprn of 71$ for 2008. Which our users are OK with this numbers.
But for the year 2009 I see that the ordinary deprn is 91$ for the whole year, which should be 122$(as per our users- 24% based on Tax laws.)
Please guide me as what configuration Am I missing, We are on 5.0 version.
Many thanks
MSJ