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Onvio Fixed Assets allows you to customize depreciation calculation options for the open client. The options you set apply to the open client only.

1. Open an asset in Onvio Fixed Assets, then click the Settings button.
2. Open the Calculation tab.

Changing the period treatment after data has already been entered for the client could cause inconsistencies in the data. Therefore, if you change the period treatment, you must force the application to recalculate the depreciation for all of the client's assets.

You can select an option from the Acquisition / Disposal Treatment field to determine the current depreciation for a non-ACRS/MACRS asset.

• Based on Months Held in Year of Transaction: Click this option to determine the current depreciation based on the number of months held in the year of transaction for a non-ACRS/MACRS asset.
  • If the acquired date is in the first 15 days of the month, the application uses a full month for the month of transaction.
  • If the acquired date is in the last 15 days of the month, the application calculates from the following month.
• Half-year of Depreciation in Year of Transaction: Click this option to calculate depreciation based on a half-year's depreciation in the year of transaction for a non-ACRS/MACRS asset.
• Full Year/No Depreciation Based on Transaction Date: Click this option to calculate depreciation by using a full year's depreciation or by using no depreciation at all in the year of transaction for a non-ACRS/MACRS asset. If the transaction happens in the first six months of the year, the application calculates a full year's depreciation. If the transaction occurs in the last six months of the year, the application calculates zero depreciation for that year.

For the MACRS accelerated method, MACRS straight-line method, ACRS optional straight-line personal method, and ACRS optional straight-line real method you can use either the IRS tables or the formula from the Internal Revenue Code. The default is to use the formula in all calculations.

Calculation results based on the tables (which are rounded percentages) may be slightly different from those based on the IRC formula.