Explicitly applying the mid-quarter convention for assets acquired in the current year

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The application automatically determines whether the mid-quarter convention applies and recalculates depreciation when necessary.

To explicitly include or exclude current-year assets from the automatic mid-quarter determination and calculation, perform the following steps.

  1. Select the desired current-year asset and click the Modify button.
  2. In the Asset Detail dialog, click the Other tab.
  3. Click the Mid-Quarter & Section 179 Force Options button in the lower-left corner.
  4. In the Mid-Quarter & Section 179 Force Options dialog, mark the appropriate checkboxes in each treatment tab.

Tips

  • To have the application automatically determine whether or not to use the mid-quarter convention for this asset, repeat the procedure and clear the checkbox you marked in step 5.
  • To force assets to follow mid-quarter convention for the client on a treatment-by-treatment basis, choose Setup > Treatments, select the appropriate treatment, click the Options button, and click the appropriate option in the Mid-quarter application for current-year acquisitions group box.

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