QB Issue Resolution:
what type of asset has been purchased?
Depending on the type of asset, 1/2 yr rule may apply which means – regardless of the month purchased – you can claim half the amortization rate year of purchase and when the item is sold, then half the amortization rate year of disposal – regardless of the month of sale.
Resolution for Issue 'When do you calculate amortization? If I buy an asset in January 2017 and my fiscal year ends Dec 2017 do I amortize in 2017? What if bought in October 2017?' available: Yes (Solved).
Source: Intuit Community forum.
When do you calculate amortization? If I buy an asset in January 2017 and my fiscal year ends Dec 2017 do I amortize in 2017? What if bought in October 2017?: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.Support for calculate amortization
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Error Recovery for calculate amortization [Canada]
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