What is ment by prorate convention?
Answer Posted / abhishek rai
The prorate calendar determines the number of prorate
periods in your
fiscal year. The depreciation program uses the prorate
calendar to
determine prorate period, which is used to determine the
annual
depreciation amount.
The prorate convention determines how much depreciation to
take in the
first and last year of an asset's life based on when you
place the asset in
service. Your tax department chooses the prorate
convention. The prorate
calendar and convention must be setup before adding the
assets. If you
retire an asset before it is fully reserved, the retirement
convention
determines how much depreciation to take in the period of
retirement. The
prorate convention, the retirement convention and the
depreciation method
work together to determine the depreciation for the first
and last year of an
asset's life. After setting up the prorate convention, you
specify the prorate
convention for each asset on the Books form and the
retirement convention
on the Retirements form in Asset Workbench. See the white
paper - The
Wonderful World of Prorate Conventions, located on
MetaLink, for more
details.
Thanks, Abhishek Rai
Is This Answer Correct ? | 3 Yes | 1 No |
Post New Answer View All Answers
How to Reconciliation AP to CM ? How to Reconciliation AR to CM ?
How to support projects life cycles details?
Explain Customer Creation and Maintenance Process. Provide samples of customer master records with Payment Terms.
What is the use of hr: user type, while configure multiorg?
What is automation of accounts payable activities (evaluated receipt settlement)?
Substitute receipts and Unordered Receipts
What is the entry in oracle apps ap,ar,gl for following transations1.one pipe purchase at rs.1002.one pipe sales at rs.150
What is meant RD020
We have both consumption tax and With Holding Tax on each invoice, will there be any conflict involved?
1.what is the name of program to create invoice automatic from po.? 2.How to auto upload the bank statement? 3.PO tax has not flown to invoice . why? Debit memo not generated for return of goods.??
Recurring Problem Posting i have Journals for sep 2018 that i approved but they are not available to post even though the period is open in Oracle R12 Issues
What are the types of setups in apps inventory module
What is the use of mo: security profile, while configure multiorg?
Write Test Scripts for a telecummunication project on the basis of priority with some examples with regard to AP,GL,FA.
In Subinventories Form, how to enable the Locator Control. A message displayed when changing the drop down list "FRM-40200: Field is protected against update.