Daily Prorate Convention Does Not Calculate Based On The Amortization Start Date (Doc ID 2146948.1)

Last updated on JUNE 20, 2017

Applies to:

Oracle Fusion Assets - Version 11.1.10.0.0 and later
Oracle Fusion Assets Cloud Service - Version 11.1.10.0.0 and later
Information in this document applies to any platform.

Goal

When adding an asset, how should we setup it up so that the amortization date is used to account for the daily rate depreciation calculation method?

For example, asset is added in period May-2015 with an amortization date of 5/24/2015 and Date Placed in Service of 4/1/2015.  
A depreciation reserve and YTD reserve is added to account for full month of April and 24 days of May 2015.
 

Solution

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