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Use Mid-Quarter Convention - Prior Year Assets
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Use the Use Mid-Quarter Convention - Prior Year Assets window to tell the application that a newly entered asset that was purchased in a prior year was subject to mid-quarter convention in its year of purchase. You would normally use this command only when converting or entering existing assets from another application.
To open this window, open the Asset Detail window and select Tasks, then Use Mid-Quarter Convention.
note
- When you select to calculate MACRS depreciation using mid-quarter convention for a specific treatment, that treatment column heading (in the Depreciation tab) appears in blue.
- The words "Mid-Quarter Applies" appear in blue at the top of the Depreciation tab when you select to calculate all treatments using mid-quarter convention.
Fields and buttons
Calculate MACRS depreciation using mid-quarter convention
Mark this checkbox to calculate MACRS depreciation using mid-quarter convention for the current treatment.
note
When you select to calculate MACRS depreciation using mid-quarter convention for a specific treatment, that treatment column heading (in the Depreciation tab) appears in blue.
Calculate all treatments using mid-quarter convention
Mark this checkbox to calculate all treatments using mid-quarter convention for the current asset.
note
- Marking this checkbox marks and turns off theCalculate MACRS depreciation using mid-quarter conventioncheckbox on the tab for each treatment.
- When you select to calculate all treatments using mid-quarter convention, the words "Mid-Quarter Applies" appear in blue at the top of the Depreciation tab.