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Jira

server	JIRA
serverId	ecdb5e56-0e2c-3e03-a39a-d088ee783b83
key	FA-205

Jira

server	Jira
columnIds	issuekey,summary,issuetype,created,updated,duedate,assignee,reporter,priority,status,resolution
columns	key,summary,type,created,updated,due,assignee,reporter,priority,status,resolution
serverId	ecdb5e56-0e2c-3e03-a39a-d088ee783b83
key	FA-266

Jira

server	Jira
columnIds	issuekey,summary,issuetype,created,updated,duedate,assignee,reporter,priority,status,resolution
columns	key,summary,type,created,updated,due,assignee,reporter,priority,status,resolution
serverId	ecdb5e56-0e2c-3e03-a39a-d088ee783b83
key	FA-265

Expand

title	Full Month Convention Sample Computation

Given Data:

Depreciation Type : Mid-Month

Duration : 2 years

Year 1 : 50%

Year 2 : 50%

Asset Cost : 360

Salvage Value : 240

Basis : 360 - 240 = 120

Monthly Depreciation Formula

Basis * Year Percentage / Number of Months in a year

Year #	Month #	Date	Transaction	Computation		Depreciation To Date
1	1	12/31/2020	Place in service			0.00
1	1	12/31/2020	Depreciation	120 * .5 /12	5.00	5.00
1	2	01/31/2021	Depreciation	120 * .5 /12	5.00	10.00
1	3	02/28/2021	Depreciation	120 * .5 /12	5.00	15.00
1	4	03/31/2021	Depreciation	120 * .5 /12	5.00	20.00
1	5	04/30/2021	Depreciation	120 * .5 /12	5.00	25.00
1	6	05/31/2021	Depreciation	120 * .5 /12	5.00	30.00
1	7	06/30/2021	Depreciation	120 * .5 /12	5.00	35.00
1	8	07/31/2021	Depreciation	120 * .5 /12	5.00	40.00
1	9	08/31/2021	Depreciation	120 * .5 /12	5.00	45.00
1	10	09/30/2021	Depreciation	120 * .5 /12	5.00	50.00
1	11	10/31/2021	Depreciation	120 * .5 /12	5.00	55.00
1	12	11/30/2021	Depreciation	120 * .5 /12	5.00	60.00
2	1	12/31/2021	Depreciation	120 * .5 /12	5.00	65.00
2	2	01/31/2022	Depreciation	120 * .5 /12	5.00	70.00
2	3	02/28/2022	Depreciation	120 * .5 /12	5.00	75.00
2	4	03/31/2022	Depreciation	120 * .5 /12	5.00	80.00
2	5	04/30/2022	Depreciation	120 * .5 /12	5.00	85.00
2	6	05/31/2022	Depreciation	120 * .5 /12	5.00	90.00
2	7	06/30/2022	Depreciation	120 * .5 /12	5.00	95.00
2	8	07/31/2022	Depreciation	120 * .5 /12	5.00	100.00
2	9	08/31/2022	Depreciation	120 * .5 /12	5.00	105.00
2	10	09/30/2022	Depreciation	120 * .5 /12	5.00	110.00
2	11	10/31/2022	Depreciation	120 * .5 /12	0	115.00
2	12	11/30/2022	Depreciation	120 * .5 /12	1	120.00

This is marked as Fully Depreciated when Total Months = Depreciated Months

Expand

title	Mid Month Convention Sample Computation

Given Data:

Depreciation Type : Mid-Month

Duration : 2 years

Year 1 : 50%

Year 2 : 50%

Asset Cost : 360

Salvage Value : 240

Basis : 360 - 240 = 120

First and Last Monthly Formula

Basis * Year Percentage / Number of Months in a year / 2

Remaining Monthly Formula

Basis * Year Percentage / Number of Months in a year

Year #	Month #	Date	Transaction	Computation	Depreciated Value	Depreciation To Date
1	1	12/31/2020	Place in service	0	0	0.00
1	1	12/31/2020	Depreciation	120 * .5 / 12 / 2	2.5	2.50
1	2	01/31/2021	Depreciation	120 * .5 / 12	5	7.50
1	3	02/28/2021	Depreciation	120 * .5 / 12	5	12.50
1	4	03/31/2021	Depreciation	120 * .5 / 12	5	17.50
1	5	04/30/2021	Depreciation	120 * .5 / 12	5	22.50
1	6	05/31/2021	Depreciation	120 * .5 / 12	5	27.50
1	7	06/30/2021	Depreciation	120 * .5 / 12	5	32.50
1	8	07/31/2021	Depreciation	120 * .5 / 12	5	37.50
1	9	08/31/2021	Depreciation	120 * .5 / 12	5	42.50
1	10	09/30/2021	Depreciation	120 * .5 / 12	5	47.50
1	11	10/31/2021	Depreciation	120 * .5 / 12	5	52.50
1	12	11/30/2021	Depreciation	120 * .5 / 12	5	57.50
2	1	12/31/2021	Depreciation	120 * .5 / 12	5	62.50
2	2	01/31/2022	Depreciation	120 * .5 / 12	5	67.50
2	3	02/28/2022	Depreciation	120 * .5 / 12	5	72.50
2	4	03/31/2022	Depreciation	120 * .5 / 12	5	77.50
2	5	04/30/2022	Depreciation	120 * .5 / 12	5	82.50
2	6	05/31/2022	Depreciation	120 * .5 / 12	5	87.50
2	7	06/30/2022	Depreciation	120 * .5 / 12	5	92.50
2	8	07/31/2022	Depreciation	120 * .5 / 12	5	97.50
2	9	08/31/2022	Depreciation	120 * .5 / 12	5	102.50
2	10	09/30/2022	Depreciation	120 * .5 / 12	5	107.50
2	11	10/31/2022	Depreciation	120 * .5 / 12	5	112.50
2	12	11/30/2022	Depreciation	120 * .5 / 12	5	117.50
3	1 (excess month for mid month)	12/31/2022	Depreciation	120 * .5 / 12 / 2	2.5	120.00

This is marked as Fully Depreciated when Total Months < Depreciated Months

Expand

title	Actual Days Convention Sample Computation

Given Data:

Depreciation Type : Actual Days

Placed of Service: 16 Nov 2020

Duration : 2 years

Year 1 : 50%

Year 2 : 50%

Asset Cost : 360

Salvage Value : 240

Basis : 360 - 240 = 120

First Month no. of days : 30

Day of Place of service : 16

First Month Formula

Basis * Year Percentage / Number of Months in a year * (Remaining Day/Days in First Month)

Remaining Day = FIrst Month no. of days - Day of Place of Service + 1

Last Month Formula

Basis * Year Percentage / Number of Months in a year * (Remaining Day/Days in First Month)

Remaining Day = 16 - 1

Remaining Day = Day of Place of Service - 1

Remaining Monthly Formula

Basis * Year Percentage / Number of Months in a year

Year #	Month #	Date	Transaction		Depreciated Value	Depreciation To Date
1	1	11/16/2020	Place in service			0.00
1	1	11/30/2020	Depreciation	120 .5 / 12 (30 - 16 + 1 )/30	2.50	2.50
1	2	12/31/2020	Depreciation	120 *.5 / 12	5.00	7.50
1	3	01/31/2021	Depreciation	120 *.5 / 12	5.00	12.50
1	4	02/28/2021	Depreciation	120 *.5 / 12	5.00	17.50
1	5	03/31/2021	Depreciation	120 *.5 / 12	5.00	22.50
1	6	04/30/2021	Depreciation	120 *.5 / 12	5.00	27.50
1	7	05/31/2021	Depreciation	120 *.5 / 12	5.00	32.50
1	8	06/30/2021	Depreciation	120 *.5 / 12	5.00	37.50
1	9	07/31/2021	Depreciation	120 *.5 / 12	5.00	42.50
1	10	08/31/2021	Depreciation	120 *.5 / 12	5.00	47.50
1	11	09/30/2021	Depreciation	120 *.5 / 12	5.00	52.50
1	12	10/31/2021	Depreciation	120 *.5 / 12	5.00	57.50
2	1	11/30/2021	Depreciation	120 *.5 / 12	5.00	62.50
2	2	12/31/2021	Depreciation	120 *.5 / 12	5.00	67.50
2	3	01/31/2022	Depreciation	120 *.5 / 12	5.00	72.50
2	4	02/28/2022	Depreciation	120 *.5 / 12	5.00	77.50
2	5	03/31/2022	Depreciation	120 *.5 / 12	5.00	82.50
2	6	04/30/2022	Depreciation	120 *.5 / 12	5.00	87.50
2	7	05/31/2022	Depreciation	120 *.5 / 12	5.00	92.50
2	8	06/30/2022	Depreciation	120 *.5 / 12	5.00	97.50
2	9	07/31/2022	Depreciation	120 *.5 / 12	5.00	102.50
2	10	08/31/2022	Depreciation	120 *.5 / 12	5.00	107.50
2	11	09/30/2022	Depreciation	120 *.5 / 12	5.00	112.50
2	12	10/31/2022	Depreciation	120 *.5 / 12	5.00	117.50
3	1 (excess month for actual days)	11/30/2022	Depreciation	120 .5 /12 (16 - 1 )/30	2.50	120.00

This is marked as Fully Depreciated when Total Months < Depreciated Months

Expand

title	Imported Assets

Given Data:

Depreciation Type : Mid-Month

Duration : 2 years

Year 1 : 50%

Year 2 : 50%

Asset Cost : 360

Salvage Value : 240

Basis : 360 - 240 = 120

Imported : Yes

Placed in Service: 12/31/2020

Imported Depreciation thru:12/31/2021

Depreciation to date GAAP: 75

Entry on "Create asset" being clicked

Account	DR	CR
Asset	360
Accumulated Depr		75
Offset Account		285

Monthly Depreciation Formula

Basis * Year Percentage / Number of Months in a year

Year #	Month #	Date	Transaction	Computation		Depreciation To Date
1	1	12/31/2020	Place in service			0.00
1	1	12/31/2020	Depreciation	0	0	0
1	2	01/31/2021	Depreciation	0	0	0
1	3	02/28/2021	Depreciation	0	0	0
1	4	03/31/2021	Depreciation	0	0	0
1	5	04/30/2021	Depreciation	0	0	0
1	6	05/31/2021	Depreciation	0	0	0
1	7	06/30/2021	Depreciation	0	0	0
1	8	07/31/2021	Depreciation	0	0	0
1	9	08/31/2021	Depreciation	0	0	0
1	10	09/30/2021	Depreciation	0	0	0
1	11	10/31/2021	Depreciation	0	0	0
1	12	11/30/2021	Depreciation	0	0	0
2	1	12/31/2021	Depreciation	0	0	0
2	1	12/31/2021	Imported	0	0	75
2	2	01/31/2022

Expand

title	Full Month Convention Sample Computation

Given Data:

Depreciation Type : Mid-Month

Duration : 2 years

Year 1 : 50%

Year 2 : 50%

Asset Cost : 360

Salvage Value : 240

Basis : 360 - 240 = 120

Monthly Depreciation Formula

Basis * Year Percentage / Number of Months in a year

Year #	Month #	Date	Transaction	Computation	Depreciation To Date	1	1	12/31/2020	Place in service	0.00
1	1	12/31/2020	Depreciation	120 * .5 /12	5.00	5.00
1	2	01/31/2021	Depreciation	120 * .5 /12	5.00	10.00
1	3	02/28/2021	Depreciation	120 * .5 /12	5.00	15.00
1	4	03/31/2021	Depreciation	120 * .5 /12	5.00	20.00
1	5	04/30/2021	Depreciation	120 * .5 /12	5.00	25.00
1	6	05/31/2021	Depreciation	120 * .5 /12	5.00	30.00
1	7	06/30/2021	Depreciation	120 * .5 /12	5.00	35.00	80.00 (75.00+5.00)
2	3	02/28/2022	1	8	07/31/2021	Depreciation	120 * .5 /12	5.00	4085.00 00
12	94	0803/31/20212022	Depreciation	120 * .5 /12	5.00	4590.00 00
12	105	0904/30/20212022	Depreciation	120 * .5 /12	5.00	5095.00 00
12	116	1005/31/20212022	Depreciation	120 * .5 /12	5.00	55100.00 00
12	127	1106/30/20212022	Depreciation	120 * .5 /12	5.00	60105.00 00
2	18	1207/31/20212022	Depreciation	120 * .5 /12	5.00	65110.00 00
22	9	0108/31/2022	Depreciation	120 * .5 /12	5.00	70115.00 00
2	310	0209/2830/2022	Depreciation	120 * .5 /12	5.00	75120.00
2	411	0310/31/2022	Depreciation	120 * .5 /12	5.00	0	120.0.00 (Reached Max dep due to imported value80.00
2	512	0411/30/2022	Depreciation	120 * .5 /12	5.00	85.00
2	6	05/31/2022	Depreciation	120 * .5 /12	5.00	90.00
2	7	06/30/2022	Depreciation	120 * .5 /12	5.00	95.00
2	8	07/31/2022	Depreciation	120 * .5 /12	5.00	100.00
2	9	08/31/2022	Depreciation	120 * .5 /12	5.00	105.00
2	10	09/30/2022	Depreciation	120 * .5 /12	5.00	110.00
2	11	10/31/2022	Depreciation	120 * .5 /12	0	115.00
2	12	11/30/2022	Depreciation	120 * .5 /12	1	120.00

This is marked as Fully Depreciated when Total Months = Depreciated Months

Expand

title	Mid Month Convention Sample Computation

12

0

120.00

This is marked as Fully Depreciated when Depreciate To Date Amount >= Basis Amount

07/31/2021

Expand

title	Mid Year Convention Sample Computation

Given Data:

Depreciation Type : Mid Year

Duration : 2 years

Year 1 : 50%

Year 2 : 50%

Asset Cost : 360

Salvage Value : 240

Basis : 360 - 240 = 120

Depreciation Formulas

Monthly Depreciation: (Basis * Depreciation Percentage / ( Years * 12)) = ((120 * 0.5)/ 12) = 60 / 12 = 5

Yearly Depreciation: Monthly Depreciation * 12 = 5 * 12 = 60

Mid Year Depreciation: Yearly Depreciation / 2 = 120 / 2 = 30

The total annual depreciation on the year where the asset was placed in service should be 60.

Remaining Months = No. of Months starting from Date In Service up to the last of month of the year.

Date In Service Jan 1, 2022: Remaining Months: 12

Annual/Yearly Depreciation: Mid Year Depreciation / Remaining Months of the year = 30 / 12 = 2.5

Next Year Depreciations: should use regular Monthly Depreciation: 5

Year	Apply Mid Year
1	Yes
2	No
3	No

Year #	Month #	Date	Transaction	Computation		Depreciation To Date
1	1	01/31/2022	Depreciation	30 / 12	2.50	2.50
1	2	02/28/2022	Depreciation	30 / 12	2.50	5.00
1	3	03/31/2022	Depreciation	30 / 12	2.50	7.50
1	4	04/30/2022	Depreciation	30 / 12	2.50	10.00
1	5	05/31/2022	Depreciation	30 / 12	2.50	12.50
1	6	06/30/2022	Depreciation	30 / 12	2.50	15.00
1	7	07/31/2022	Depreciation	30 / 12	2.50	17.50
1	8	08/31/2022	Depreciation	30 / 12	2.50	20.00
1	9	09/30/2022	Depreciation	30 / 12	2.50	22.5
1	10	10/31/2022	Depreciation	30 / 12	2.50	25.00
1	11	11/30/2022	Depreciation	30 / 12	2.50	27.50
1	12	12/31/2022	Depreciation	30 / 12	2.50	30.00
2	1	01/31/2023

Given Data:

Depreciation Type : Mid-Month

Duration : 2 years

Year 1 : 50%

Year 2 : 50%

Asset Cost : 360

Salvage Value : 240

Basis : 360 - 240 = 120

First and Last Monthly Formula

Basis * Year Percentage / Number of Months in a year / 2

Remaining Monthly Formula

Basis * Year Percentage / Number of Months in a year

Year #

Month #

Date

Transaction

Computation

Depreciated Value

Depreciation To Date

1

12/31/2020

Place in service

0

0.00

1

12/31/2020

Depreciation

120 * .5 / 12 / 2

2.5

2.50

1

2

01/31/2021

Depreciation

120 * .5 / 12

5

7.50

1

3

02/28/2021

Depreciation

120 * .5 / 12

5

12.50

1

4

03/31/2021

Depreciation

120 * .5 / 12

5

17.50

1

5

04/30/2021

Depreciation

120 * .5 / 12

5

22.50

1

6

05/31/2021

Depreciation

120 * .5 / 12

5

27.50

1

7

06/30/2021

Depreciation

120 * .5 / 12

5

32.50

1

8

Depreciation

120 * .5 /

12

5.00

37

35.

50

00

1

2

9

2

08

02/31/

2021

2023

Depreciation

120 * .5 /

12

5.00

42

40.

50

00

1

2

10

3

09

03/

30

28/

2021

2023

Depreciation

120 * .5 /

12

5.00

47

45.

50

00

1

2

11

4

10

04/31/

2021

2023

Depreciation

120 * .5 /

12

5.00

52

50.

50

00

1

2

12

5

11

05/30/

2021

2023

Depreciation

120 * .5 /12

5.00

57

55.

50

00

2

1

6

12

06/31/

2021

2023

Depreciation

120 * .5 /12

5.00

62

60.

50

00

2

7

01

07/

31

30/

2022

2023

Depreciation

120 * .5 /12

5.00

67

65.

50

00

2

3

8

02

08/

28

31/

2022

2023

Depreciation

120 * .5 /12

5.00

72

70.

50

00

2

4

9

03

09/31/

2022

2023

Depreciation

120 * .5 /12

5.00

77

75.

50

00

2

5

10

04

10/30/

2022

2023

Depreciation

120 * .5 /12

5.00

82

80.

50

00

2

6

11

05

11/31/

2022

2023

Depreciation

120 * .5 /12

5.00

87

85.

50

00

2

7

12

06

12/30/

2022

2023

Depreciation

120 * .5 /12

5

5.00

92

90.

50

00

2

3

8

1

07

01/31/

2022

2024

Depreciation

120 * .5 /12

5.00

97

95.

5008

00
3	2

9

02/

31

29/

2022

2024

Depreciation

120 * .5 /12

5.00

102

100.

50

00

2

3

10

3

09

03/

30

31/

2022

2024

Depreciation

120 * .5 /12

5.00

107

105.

50

00

2

3

11

4

10

04/

31

30/

2022

2024

Depreciation

120 * .5 /12

5.00

112

110.

50

00

2

3

12

5

11

05/

30

31/

2022

2024

Depreciation

120 * .5 /12

5.00

117

115.

50

00

3 1 (excess month for mid month)

3

6

06/30/2024

12/31/2022

Depreciation

120 * .5 /12

/ 2

2

5.

5

00

120.00

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