Asset Accounting Overview: Asset Accounting is an important module in SAP and manages assets of an organisation by master records. Asset accounting is a . The first € price and the £ and $ price are net prices, subject to local VAT. Prices indicated with * include VAT for books; the €(D) includes 7% for. Germany, the. Asset Accounting Configuration. The Asset Accounting module. 1. Organizational structures. In this section, you define the features of the Asset Accounting.
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We configure the account assignment objects that can be posted based on: Many values are derived from asset class while creating the master data. This default applies when the financial statement version is contained in the sort version used for a given report. Check the Transfer date Have the exchange rate defined in the system. Created by Guestlast modified by Nathan Genez on Oct 12, You can either transfer data automatically from a legacy system using any of the following:.
Screenshot showing parameters maintained in asset class T code: A chart of depreciation is a directory of depreciation areas arranged according to business requirements. Asset picks useful life and depreciation key for each depreciation area from depreciation area and asset class combination.
I hope this will help the readers with the basic settings required for configuring Asset Accounting in SAP 6. These include transactions like acquisition of fixed assets, sale of fixed assets, in-house development of assets, settlement of WIP, and accounting for depreciation on fixed assets and so on. AS91 The procedure is the same as in Create asset. Once input fields in asset master are filled, click on the save button. But they are subject to wear and tear, and to provide for this we need to depreciate them.
Chart of depreciation has list of depreciation areas depending upon the accounting requirement.
Permalink Nov 29, In addition to the manual transaction, there are three more methods for transferring legacy data automatically: The most important function of an asset class is to link asset master records to their respective general ledger configurationn in Financial Accounting. We can give settlement profile 10 to enable settlement to all receivers.
In addition, you also have the feature Takeover values where you enter the Acquisition and Production costs and the accumulated depreciation accountinh for the different depreciation areas.
Asset class controls asset master data. For the asset class, useful life and depreciation key is defined in depreciation area. You can use them to structure your fixed assets according to different criteria. Each chart of depreciation contains the rules for the evaluation of assets that are valid in a specific country or economic area. The asset accounting module in SAP is one where the accounting pertaining to fixed assets is done.
ASSET ACCOUNTING Configuration Steps in SAP FICO
Such feature is not there in the normal GL Accounting. This includes setting up the organization structure, defining the depreciation areas, creating the different asset classes, account assignment, defining depreciation keys and so on.
Let’s understand the configuration needed for asset accounting in very simple terms with the help of example. These charts of depreciation are only references for customer charts of depreciation and therefore, cannot be used directly.
Compare the values that have been uploaded of account balances and that of the Asset values Set the Recon account to normal. Enter your asset class field in for your company code B.
Here we can define how the controlling area posting of cost required for each asset transaction type. The Asset Accounting Module enables such calculation of depreciation we can create depreciation keys where we give the rate of depreciation. SAP can post the APC transactions of one depreciation area to the general ledger online automatically.
Here we specify the depreciation areas for which the depreciation is posted to the general ledger during the depreciation run. Here, asset classes are assigned default values for the depreciation key and useful life. SAP provides country-specific charts of depreciation with predefined depreciation areas. WelcomeGuest Login Register. You can change the definition of the depreciation areas that were copied from the standard depreciation plan, and add additional depreciation areas if required: When you create your own chart of depreciation, you must copy a reference chart of depreciation.
You can either transfer data automatically from a legacy system using any of the following: This will be applicable only if you have different group currency else forget this step.
Asset Accounting Configuration in SAP ERP: A Step-by-Step Guide [Book]
Asset classes are the most important structuring elements for fixed assets. Further it provides default depreciation wap while creating the master data. For the rest, transactions to the general ledger can be posted automatically using periodic processing.