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You must initially set up all your prorate conventions from the convention period corresponding to the oldest date placed in service through the end of the current fiscal year. At the end of each fiscal year, Oracle Assets automatically sets up your prorate conventions for the next fiscal year.

Prerequisites

   Set up your Oldest Date Placed in Service. See: Specifying System Controls.

   Set up your fiscal years. See: Creating Fiscal Years.

   To specify dates for prorate conventions:

1. Open the Prorate Conventions window

2. Enter a Convention name and Description.

3. Enter the Fiscal Year Name for which you want to set up this convention.

4. Select the Depreciate When Placed in Service check box if you want to start taking depreciation in the accounting period that corresponds to the date placed in service, instead of the period that corresponds to the prorate date.

This option determines over how many periods to spread the annual depreciation amount. For assets that use a calculated (straight-line) method, Oracle Assets ignores this option and always starts taking depreciation in the accounting period that corresponds to the prorate date.

5. Enter date ranges and corresponding prorate dates for assets where the date placed in service is between the From Date and the To Date.

Attention: Your convention must include every date in your fiscal year; otherwise, Oracle Assets cannot calculate depreciation properly.

6. Save your work.

See Also

Prorate Convention Listing