Intangable assets amortization

Summary:

We have Intangible assets and I dont understand Oracles standard process of handling them. We have the intangible asset checkbox which only enable tracking attributes. The amortization functionality only amortize the adjustments. However, are there any process that can be enabled to handle the monthly amortization of intangible assets instead of the monthly depreciation?

Content (please ensure you mask any confidential information):

My understanding is the following:

Amortization is used for intangible assets like patents, copyrights, and trademarks, while depreciation is used for tangible assets like buildings, vehicles, and machinery.

The main difference between amortization and depreciation is that amortization expenses are recorded on the income statement, while depreciation expenses are recorded on both the income statement and the balance sheet.