30 days Prorate convention Oracle FA module

Hello ,

I have a question regarding Oracle Fusion Assets / Fixed Assets depreciation configuration.

We have a business requirement to depreciate assets using a 30 days per month prorate convention — effectively a 30/360 logic, where each month is considered as 30 days for depreciation proration purposes.

I understand from Oracle documentation that:

• Oracle Assets uses prorate conventions and retirement conventions to determine how much depreciation is taken in the first and last year of an asset’s life.
• The Date Placed in Service and the Prorate Convention determine the Prorate Date.
• The prorate date is then used to determine the Prorate Period in the prorate calendar.