xTuple.com xTupleU Blog & News Customer Support

Fixed Assets

How do I setup depreciation useful life in months not years for a new asset. For example I have an asset with a useful
life of 41 months

As you have noticed the Asset Life is defined in years not months. This field is largely used to cause the completion of depreciation calculations. It is also used if a Depreciation % is not defined in the Asset Type. If no % is defined the depreciation will be calculated based on the months in the asset life. Not useful if your asset life is not an even year’s worth of months.

However, Tax Departments often specify what depreciation percentage can be applied to a particular asset type and entering the percentage in the Asset Type setup will cause depreciation to be calculated at that set rate, You could possibly calculate the correct percentage that would cause that asset to depreciate to zero in the 41 month period and enter that in the Asset Type.

Other than that, my only suggestion is the Depreciation module was designed to be extensible, and you might have to look at a fairly moderate customisation to that package to achieve exactly what you are looking for.