Main Web>OracleAssets>FA12SetupAssetSystemProrateConventions (23 Jan 2009, JimCrum)EditAttach

Prorate Conventions

Table of Contents

Transaction Description
Prorate Conventions
Comments
Links
Was This Topic Useful to You?

Transaction Description

During implementation you must set up prorate conventions from the period of the oldest date placed in service through the current year. At the end of each year, Oracle Assets will extend the prorate conventions for the next year. If you have a 100 year calendar and 12 periods per year, you will enter 1200 prorate periods in the Prorate Conventions window.

The form is pretty smart. Enter the oldest year and then use the next record key (down arrow) to rapidly enter the rest of the rows. 1200 prorate periods can be entered in two or three minutes and it isn't necessary to prepare a data loader script. To compute depreciation correctly, the prorate convention must include every date in the fiscal year. The form is aware of leap years.