Are you talking about IMERG monthly data? If the unit of this data is mm/hr and you need to convert it to mm/month, please look at the link and the description below. In general, you are right but don't forget that the number of hours (days) in each month is different.
"Because the total days in each month are different, mm/hr is used for easy comparison. Since the 3B43 product is a monthly average, you could simply do the conversion by multiplying the hourly rain rate with the total hours in that month."