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Mid month convention setup

in Assets 1 comment

Summary:

Hi,

Our mid-month convention is setup like this.

Let us consider jan period.

If asset is placed in service between 1st and 15th, full month depreciation and if asset is placed in service between 16th and 31st, depreciation is from next month which means no depreciation in current month.

As per oracle note id, I saw that half month depreciation is applicable for the latter case.

Please suggest.

Thanks

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