Fixed Assets in Business Central
The Fixed Asset module in Business Central works slightly differently than other systems. Within the Business Central, you can track multiple books along with various depreciation methods like most systems offer. However, one of the main differences is with the placed-in-service date that most of us are accustomed to seeing.
There is a field for Depreciation Starting Date, which does not necessarily translate to the acquisition date. Instead, you can accomplish the various options for the averaging conventions by adjusting the Depreciation Starting Date. For example, if you want to use the mid-month averaging convention, you can adjust this date to be the 15th of the given month. If you want to use full month averaging, you can adjust this date to be the 1st of the month. There is a setting for the “Use Half-Year Convention” that can be used with tax books. This setting is probably used with tax books. While the conventions are slightly different, there are ways to accomplish the same goals with Fixed Assets as other systems.