I have an asset that is doing more than just one month's depreciation at straight line full month. It's doubling the amount it should be. Is there maybe a setting that should be corrected to calculate properly for our internal book or do we need to update the software? After catching this asset, I notice a few others added this current fiscal year doing the same thing, but not all of them. Below is what I believe the correct answer should be and where it's at. I'll also attach a screenshot. Thank you in advance for your help!
Acquisition value = $23,631.30 5yr estimated life and straight line full month method with placed in service date 10/01/2022
From 10/01/2022 to 10/29/2022 I think the depreciation should = $363.56 ($23,631.30/5 years = $4,726.26/year in depreciation, $4,726.26/52 weeks in a year =$90.89/week in depreciation, 4 weeks in this accounting period 4weeks * $90.89 = $363.56, system shows double $727.12 for this depreciation run.