Mid month convention - Period Control method

[Former Member]

Hi

My client wants to calculate depreciation for mid month. i.e, Asset acquired after 15th of a month should be considered for next month depreciation calculation.

A new dep key and period control have been asked to create.

In this case, what are the steps that needs to be done?

Pl help me out.

Thanx..

Prasad

[Former Member]

Copy a key and start it with Z.For period control use the second one, which is called "pro rata upto mid-period per period start date. What this method does is if the asset is put in service upto the middle of the period(month-generally) the depreciation starts beginning of the period, if it is after the middle of the period the start date is the beginning of the next period(month).

Please assign points for this correct answer.