E1: 51: 40 Percent Rule (Changing from Mid-Year to Mid-Quarter) when 40% of the Assets are Purchased in the Last Quarter of the Year (Doc ID 2412905.1)

Last updated on NOVEMBER 23, 2021

Applies to:

Purpose

There isn’t an automatic update in E1 Fixed Assets that will calculate the percentage and update the assets from Mid-Year to Mid-Quarter, but there is a workaround that can be used.

In World software there was an option to change from mid-year to mid-quarter by flagging a processing option. However, when using user defined depreciation it becomes impossible to have a processing option like this, because everything is user defined. In World, it updated methods like 04, 05, 12, and 13, but with user defined depreciation the depreciation method can be any value, not the set restricted values from World, which makes this option impossible to program.

Details

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