ERE: Lease Administration Financial Terms Proration
(Doc ID 1913214.1)
Last updated on OCTOBER 12, 2020
Applies to:PeopleSoft Enterprise FIN Lease Administration - Version 9 and later
Information in this document applies to any platform.
Checked relevance 8/26/2016
Checked relevance 2/26/2018
In Lease Administration there are currently two proration methods, 365 days and 360 days. The 365 days prorates based on the number of days in the month (January 31, February 28 or 29, March 31, etc). The 360 days prorates all months based on 30 days. We have more and more landlords that want proration based on the number of days in the year.
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