How an adjustment period in Fiscal Period setup can affect your Fixed Asset Calendar

If your Fiscal Period Setup has a 13^th period for adjusting entries that consist of only one day, for instance period 12 ends on 12/30/2020 and Period 13 ends on 12/31/2020, you DO NOT want to set your FA calendar based on the Fiscal Period Calendar.  You will need to have only 12 periods in the Fixed Asset Calendar.  If you leave the FA Calendar set with 13 periods, the depreciation will be broken into 13 equal amounts which will cause too little depreciation in periods 1 through 12 and a full month’s depreciation in the one day period 13.  In this instance, you will want to build your calendar using the Calendar Year option or manually update the periods for each year if you are on a non-calendar year to remove the 13th period.