In A I have entered the current year.

In C I have entered the month of purchase.
In D I have entered the day of purchase (1st - 31st).
In E I have entered the year of purchase.
In F I have entered the amount of the purchase.
In G I have entered the life of the assets.
In I I have entered the salvage value.

In K I have entered the following =SLN(F,I,G)

What I want to do (with a function if possible):

I want K to calculate mid-month SL depreciation.
Let say an assets was purchased on January 16 for $700, with a life of
7 years. A normal year (full year) would calculate $100 worth of
depreciation.

With mid-month depreciation, if an asset is purchased after the 15th of
the month, you start depreciating the first of the next month.

In the example above, the depreciation would be $641.67 (700/12*11).

How do I do this?

Hi,

I believe that the answer to the question that you have asked might be
something like ...

=IF(D15,SLN(F,I,G),SLN(F,I,G)/12*11)

However, please carefully note the Excel Help on the SLN function. The SLN
function will return the straight-line-depreciation amount for an asset for
one PERIOD. The PERIOD will be the same as period that you use for the useful
life of the asset. (i.e. years-years or months-months etc.).

Are you, perhaps, trying to calculate depreciation chargable in a given
financial year for an asset that is purchased as some point during that year
and/or not held for the full financial year?

Grateful if you could please explain further, because that will *most
definitely* change the answer ;-).

Cheers, Sean.

" wrote:

In A I have entered the current year.

In C I have entered the month of purchase.
In D I have entered the day of purchase (1st - 31st).
In E I have entered the year of purchase.
In F I have entered the amount of the purchase.
In G I have entered the life of the assets.
In I I have entered the salvage value.

In K I have entered the following =SLN(F,I,G)

What I want to do (with a function if possible):

I want K to calculate mid-month SL depreciation.
Let say an assets was purchased on January 16 for $700, with a life of
7 years. A normal year (full year) would calculate $100 worth of
depreciation.

With mid-month depreciation, if an asset is purchased after the 15th of
the month, you start depreciating the first of the next month.

In the example above, the depreciation would be $641.67 (700/12*11).

How do I do this?

I am trying to calculate depreciation chargable in a given financial
year for an asset that is purchased as some point during that same
year.

Thanks for the clarification. If your sheet is set up as described in your
original post, with the financial year (assuming Jan-Dec) for which you want
to calculate the annual depreciation chargable for in the rows of Column A,
then the following formula should do it for you ...

=IF($E<$A,SLN($F,$I,$G),SLN($F,$I,$G)/12*IF($D15,12-$C,12-$C+1))

Assumes also that Column G (useful life) is in years. Using the mid-month
straight-line-depreciation method and NOT taking into account the possibility
of any disposals during the year - which you may want to consider (or not!).

HTH, Sean.

" wrote:

I am trying to calculate depreciation chargable in a given financial
year for an asset that is purchased as some point during that same
year.

Thank you!

Tim
Deerfield Beach, Florida