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How to configure asset to depreciate as from date placed in service?

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Summary:

An asset is being depreciated as from MAR-24. Depreciation of asset is to be calculated evenly for each month. However, at the end of the Financial year, JUN-24, there is an accumulated value of depreciation. This accumulated value equals the total depreciation from last July-23 to Feb-23.

Content (please ensure you mask any confidential information):

Prorate Convention

Prorate Dates Values:

--> Start Date is the 1st of each month

--> End Date is the end of the month

--> Prorate Date is the start of the month

Asset Properties

Asset is placed in service in MAR-24.

-> Cost of Asset is 99,026.50

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