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Daily Depreciation calendar taking 366 days while calculation depreciation on asset

in Assets 1 comment

Summary:

I have created two asset calendar one is monthly and other is daily and in leap year for example i take 28FEB 2024 (Start date 28feb and end date -29Feb)

For Prorate convention (start date 28 feb, end date 29 feb and prorate date 28 feb) so when i added asset on 12 jul 2023 it is calculting depreciation for as per 366 days

example cost- 78960

rate- 27.52%

Yearly= 78960 * 27.52 = 21729.79

as per system Daily= 21729.79/366 = 59.371

For July 23 period = 1187.42

But in oracle 366 days functionality is not available so why it is taking 366 days for calculating depreciation

Please explain

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