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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Asset accounting configuration needed in sap

From asset class, system picks screen layout. Based upon screen layout, asset master input fields are either required or optional or suppressed Once input fields in asset master are filled, click on the save button.

Enter a description of the old asset.

In addition to the manual transaction, there are three more methods for transferring legacy data automatically: You can either transfer data automatically from a legacy system using confguration of the following:.

The settlement profile is applicable to assets under construction.

ASSET ACCOUNTING Configuration Steps in SAP FICO

When an accounting document is generated for asset transaction, GL accounts for accounting document accoynting picked from account determination key. Asset inherits account determination key from asset class. I hope this will help the readers with the basic settings required for configuring Asset Accounting in SAP 6.

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AS91 The procedure is the same as in Create asset. Calculated depreciation amount is posted to accounts which are assigned to account determination key.

Since the asset accounts are not more recon accounts all the asset related account data will also go through. In the Asset Accounting Module, we can categorize individual fixed assets into asset classes, and thus we can meet this requirement. Many values are derived from asset class while creating the master data.

All these configuration settings has been discussed below: Usually this is the book depreciation area In other words, classification of fixed assets for balance sheet disclosure purposes becomes easy. For this, in the production startup in the earlier mentioned spro path, click on the set reconciliation account and run it for all the applicable company codes Run the new year opening in the asset accounting.

A Table purchased may be booked as a individual asset linked to an asset class “Furniture”. Further it provides default depreciation keys while creating the master data. Here we can define how the controlling area posting of cost required for each asset transaction type. When you create your own chart of depreciation, you must copy a reference chart of depreciation.

Asset accounting configuration needed in sap – sap concept hub

SAP provides country-specific charts of depreciation with predefined depreciation areas. Asset class controls asset master data. Once input fields in asset master are filled, click on the save button. The asset accounting module in SAP un one where the accounting pertaining to fixed assets is done.

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Some of these characteristics of fixed assets which necessitate a separate Asset accounting module, are given below: Asset number, GL accounts, screen layouts are derived from asset class. The most important function of an asset class is to link asset master records to their respective general ledger accounts in Financial Accounting.

Company code is assigned to chart of depreciation. These values are defaulted whenever postings to assets asp these classes is done.

These charts of depreciation are only references for customer charts of depreciation and therefore, cannot be used directly. Each company code defined in Asset Accounting must refer to a chart of depreciation. The Asset Accounting Module enables such calculation of depreciation we can create depreciation keys where we accoknting the rate of depreciation. Enter business area on the Time Dependent data tab screen D.

A separate Asset Accounting Module is required for these transactions because there are some distinguishing characteristics of fixed assets as compared to normal General Ledger accounts.