My Oracle Support Banner

GST: India - Income Tax Act Fixed Asset Schedules Calculating Wrong Closing Balance (Doc ID 2531777.1)

Last updated on AUGUST 13, 2021

Applies to:

Oracle Financials for India - Version 12.1.1 and later
Information in this document applies to any platform.

Symptoms

ACTUAL BEHAVIOR
---------------
Closing WDV is getting Wrongly Calculated under "India - Income Tax Act Fixed Asset Schedules"

EXPECTED BEHAVIOR
-----------------------
Closing WDV should be calculated correctly.

STEPS
-----------------------
The issue can be reproduced at will with the following steps:
1. Perform an adjustment of opening WDV of Block of Assets for the period 'A'.
2. Run the India - Income Tax Act Fixed Asset Schedules  program - for same period.
3. Observe that Depreciation and closing WDV calculated correctly.
4. Created a new asset and add it to the same Block.
5. Again run the India - Income Tax Act Fixed Asset Schedules  program - for same period.

6. Notice that system is calculating incorrect closing WDV.

Changes

 

Cause

To view full details, sign in with your My Oracle Support account.

Don't have a My Oracle Support account? Click to get started!


In this Document
Symptoms
Changes
Cause
Solution
References


My Oracle Support provides customers with access to over a million knowledge articles and a vibrant support community of peers and Oracle experts.