what is the amortization method that can make amortization schedules operate mid-month insurance expense Straight-line, by even periods , Straight-line, prorate first & last period ,Straight-line, using exact days ,Straight-line, prorate first & last period (period-rate

AI generated answer (using internal Slack threads):

In NetSuite, the amortization method that can be used to make amortization schedules operate mid-month insurance expense is the "Straight-line, prorate first & last period" method. This method allows for the amortization to be calculated based on the exact number of days in the period, prorating the first and last period based on the number of days the asset was held during those periods. For example, if an asset is acquired on the 15th of a month, the depreciation for that month would be calculated for the remaining 15 or 16 days of the month, depending on the total number of days in that month. The depreciation for subsequent periods would then be calculated based on the full period. It's important to note that while the depreciation journal can be created prior to the end of the month, it is standard practice to release depreciation at the end of the month. This is why it's often referred to as "month-end" depreciation. ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******