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why should we create prorate calender and what is the
difference between depreciation calender and prorate
calender in fixed assets module?
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Answer / kranthioracle
fiscal year - according to dictionary definition any
accounting peroid consisting of 12 months is fiscal year.
where as in assets while defining fiscal year we are just
mentioning the start and end period.
depreciation calender - determines the number of accounting
periods in the fiscal year ex- jan, feb, mar.
prorate calender - This determines over how many periods
to spread the annual depreciation amount (or) else in
simple terms it specifies when an asset should be
depreciated.
Ex: purchased an assest on jan
and specified prorate date as mar, in this case the
system will run depreciation in the month on mar.
| Is This Answer Correct ? | 18 Yes | 1 No |
Answer / ks
Depreciation calendar is for defining number of periods
with in a fiscal year.
Prorate calendar determines how depreciation should be
allocated to each period with in a depreciation calendar.
A daily calendar will allocate depreciation daily.In this
case divide depreication should be selected as "Daily" in
book control form
| Is This Answer Correct ? | 12 Yes | 1 No |
Prorate Calendar will decide ur company depreciation
policy.
For eg: Your company is purchasing an asset at any date of
a month, but it is going to calculate depreciation from end
date of the month only.
In this case ur prorate will be like this.
From 01-jan-09 to 31-jan-09 -- prorate date is 31-jan-09.
Means if u are purchasing an asset at any date of jan month
ur system starts calculating depreciation from 31-jan-09
Onwards.
Like this u can define ur prorate calendar.
| Is This Answer Correct ? | 8 Yes | 1 No |
Answer / aravind reddy
fiscal year,fiscal calender and prorate convention.fiscal
year is to connect link between the gl calender and asset
calender then only at the time of transfer to gl data
transfers,fiscal calender to determine number of accounting
periods in a fiscal year and prorate calender determines
number of accounting periods in a fiscal year
| Is This Answer Correct ? | 2 Yes | 9 No |
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