Hi all,
I am really struggling with this.
I have tried EDATE/DATE/YEARFRAC/EOMONTH but cannot get this right as some formulas average out based on 30 days.
Depreciation is calculated by Day
Straight Line Method is used
Depreciation rate 25%
Useful Life 4
Original cost of asset $20,978.80
Acquistion date 22/12/2017
Commission Date 1/12/2018
Total Depreciation charged to 31/12/21 $20,533.29
Useful Life 3.1699
Expired Life (as at 31/12/21) 3.0800
Closing period 31/12/2021
Remaining Life in Years (as at 31/12/21) 0.089900
NBV $445.51
Start Date (To calculate from) 1/01/2022
Questions:
1 What would the end date be - In Years (if calculating from start date 1/1/22)
2 What would the end date be - In Calendar Month (if calculating from start date 1/1/22)
3 What would the end date be - In Days (if calculating from start date 1/1/22)
4 How do I convert remaining years into months if day depreciation is used? I cannot use months here I need calendar months. I also need the fraction/decimal ( (if calculating from start date 1/1/22)
What I do know is this:
Depreciation was charged as follows:
Jan-22 $445.44
Feb-22 $0.07
The acquisition dates/commission dates and due to many adjustments (changed systems) calculations are all over the place. I am just working on trying to clean this up to push into Workday.
I am able to round to 6 decimal places in workday. I am not looking for any rounding here.
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