Calculating the Begin Depreciation Date
PeopleSoft Asset Management uses two asset attributes to begin calculating depreciation:
In-service date.
Convention.
The combination of the in-service date and the prorate convention is the factor that actually determines when depreciation begins.
When you use the Depreciate When in Service date option, PeopleSoft Asset Management allocates depreciation based on the date that the asset was placed in service. This option is valid only in the year that the asset is acquired.