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Depreciation Calculation Example 10

Asset acquired in middle of accounting period using Date of Purchase basis. Record added several periods later, with "Catch-up" depreciation applied in the current accounting period. Date of Purchase method based on Days.

System-Wide Configuration: Spread "Catch-Up' among Remaining Periods in Purchase Year
"Date of Purchase" Config: Actual # Days in each Purchase Year Period
FY: Calendar Year (January to December)
New Asset: Acquired July 1, 2000
Start Date: July 1, 2000
Cost: $ 12,000
Depr Method: SL5 (20% each year), Date of Purchase Basis
Annual Depr: (Year 1 to 5)) 12,000 * 20% = 2,400
Current FY/Pd: FY: 2000 Pd: 10
Depr Yr/Days Remaining: (at time of initialization) Depr Yr: 1 Days Remaining: 365
Dates No Days FY FY Pd
July 1 to July 31, 2000 31 00 7
Aug 1 to Aug 31, 2000 31 00 8
Sept 1 to Sept 30, 2000 30 00 9
Oct 1 to Oct 31, 2000 31 00 10
Nov 1 to Nov 30, 2000 30 00 11
Dec 1 to Dec 31, 2000 31 00 12
Jan 1 to Jan 31, 2001 31 01 1
Feb 1 to Feb 28, 2001 28 01 2
Mar 1 to Mar 31, 2001 31 01 3
Apr 1 to Apr 30, 2001 30 01 4
May 1 to May 31, 2001 31 01 5
June 1 to June 30, 2001 30 01 6
July 1 to July 31, 2001 31 01 7

End Of Purchase Year 1 - Begin Purchase Year 2

Basic Formula:

(Including Current Pd)

[# Pds PYTD * Annual Depreciation] - PYTD Depr

Total Days in PY

(Including Current Pd)

= Current Pd Depreciation
Note: User should have entered asset in FY00, accounting period 7 (first period in purchase year), but forgets to do so. User enters asset for first time in accounting period 10, having skipped first three periods of purchase year 1.
July 2000 31 Days
Aug 2000 30 Days
Sept 2000 31 Days
Oct 2000 31 Days
123 Days Purchase YTD ( Including Current Period)

This calculation combines the "Catch-Up" computation for the three missed periods with the computation for the current period.

(Including Current Pd)

[# Pds PYTD * Annual Depreciation] - PYTD Depr

Total Days in PY

(Including Current Pd)

= Current Pd Depreciation
FY00 Pd 10 (123 * 2400)

365

- 0.00 = 808.77
FY00 Pd 11 (153 * 2400)

365

- 808.77 = 197.26
FY00 Pd 12 (184 * 2400)

365

- 1,006.03 = 203.83
FY01 Pd 1 (215 * 2400)

365

- 1,209.86 = 203.84
FY01 Pd 2 (243 * 2400)

365

- 1,413.70 = 184.11
FY01 Pd 3 (274 * 2400)

365

- 1,597.81 = 203.83
FY01 Pd 4 (304 * 2400)

365

- 1,801.64 = 197.26
FY01 Pd 5 (335 * 2400)

365

- 1,998.90 = 203.84
FY01 Pd 6 (365 * 2400)

365

- 2,202.74 = 197.26

End Of Purchase Year 1 - Begin Purchase Year 2

(Including Current Pd)

[# Pds PYTD * Annual Depreciation] - PYTD Depr

Total Days in PY

(Including Current Pd)

= Current Pd Depreciation
FY01 Pd 10 (31 * 2400)

365

- 0.00 = 203.84
FY01 Pd 11 (62 * 2400)

365

- 203.84 = 203.83

...and so on.