Hi Folks,
I have a requirement to depreciate the assets starting from start of Fiscal year.This is irrespective of the their acquisition date.
Depreciation profile is set up as 'Straight line service life' for Fiscal period.
Depreciation convention for an Asset is 'Full month'.
Let's say that, I have acquired an asset 001 as on 09/05/2018 and my Fiscal year starts from 01/07/2017(July-june)
Now, If I run the depreciation for Asset, it creates depreciation for 2 months i.e., for month ending on 31/05/2018 and month ending on 30/06/2018. This is correct as per the defined convention.
Do we have any convention which allows to do depreciation for Whole year? There is a convention in GP as 'full year All year' which allows to depreciation by start of FY, is something similar available for AX?
Or, can we achieve this with minimal customization?
As a workaround for this, we have a solution to change the Placed in service date to Start of FY(01/07/2017) date. But by doing so, system passes adjustment entry for previous period(for the period before acquisition date) instead of monthly depreciation entries.
Thanks!