Fixed Asset Retirement Convention Not Working Properly (Doc ID 2378373.1)

Last updated on APRIL 05, 2024

Applies to:

Goal

We have given the Retirement Convention as MID-MONTH for the Categories which means that when an Asset is retired between 1-15th of that month, it should be retired on first day of the current month.
When retired from 16-31st of the Current month, retirement should take effect from the1st of following month.

Here, we've retired an Asset in 31/12/2017 which should be effectively retired on the First day of the Following Month.
This means, Depreciation should be run for the Current Period Dec-17 as well which is not the case here.
 

Solution

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