Block of assets

Summary

Block of assets

Content

Hi Team,

While recording the additions of assets in Oracle assets, the user need to allocate the individual asset to the Block of assets defined. 

Depreciation on asset added to a block needs to be worked based on the period of commissioning of the individual asset. As per the current provisions, depreciation for an asset block can be claimed up to 100% of the allowable depreciation, if the asset is procured between the 1st of April and 30th day of September. Only 50% of the allowable depreciation can be claimed on a block, if the asset is procured between 1st day of October and 31st day of March.