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05/24/2012 at 04:51PM PDT
Important Announcement! A planned system-wide upgrade will take place over the Memorial Day Weekend in the US (From Thurs, May 24, 2012 at 6 pm PDT thru Tues, May 29, 2012 at 5 am PDT). This includes QuickBooks, QuickBooks Payroll, Point of Sale, & Salesforce.com. This is only for US based products. This does not affect QuickBooks Online customers! During this time, you can shop, but can’t place orders online, activate products or update account info. We apologize for the inconvenience & thank you for patience while we improve our infrastructure to better serve you. International versions are unaffected. For more info, see our community discussion.
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stracy
stracy
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stracy
stracy
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New Member
08/16/11 10:28am PDT
Viewed by asker 09/14/11 8:26am PDT

Depreciation Calc Issue

EasyAcct

Depreciation calculation issue
EasyAcct

Depreciation- entering f/a using 200%MACRS with an acquisition date of 7/31/11 - go to print reports as of 7/31/11 and the expense is calculating for what looks like the first 7 months. How can you make it calculate for just July??

Data-

F&F
Acqui. Date - 7/31/2011
Book Value - $100,660.79
Method - 1 (200% MACRS)
Life - 3 years

Issue-

Go to print reports using Book - the current depreciation calculates as $19,572.93. If done correctly it should be around $2,800 (based on average 36mon)

Why is it calculating SO much depreciation??

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Milldawg
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Milldawg
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08/16/11 2:48pm PDT

Stracy if I understand you correctly you are looking at the Deprecation total for the year.  To have the monthly breakdown you need to print the schedule and when you pick tax/book to print select the include monthly/quarterly summary option.  Also if you want the system to make the monthly entry for you use the company wizard to set that up.

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stracy
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09/02/11 5:02am PDT
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This is definitely very helpful - didn't realize that option was available to view by month.  My main issue is the $19k depr exp calculating for a f/a purchased in July - I'm trying to find reference as to why it is automatically calculating 1/2 year in the 1st month of use.  In the following month, it reverts back to approximately $2k a month (36 months.)  I'm not sure if it is forcing bonus depreciation, as nothing was selected to do this. Thank you!

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08/30/11 1:53pm PDT

The software calculation is 100660.79 x 200%/3yrs x 1/2 yr x 7/12 = 19572.97. 

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09/01/11 9:18am PDT

She thought the amount was for the month. 

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