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 Steps in SAP FICO
Coonfiguration showing parameters maintained in asset class T code: This will be applicable only if you have different group currency else forget this step. The applicable date should be the date on which oldest asset was capitalized and the rate should be same as Dec This defines which accountlng statement version should SAP use for each depreciation area as a default.
AS91 The procedure is the same as in Create asset. Such feature is not there in the normal GL Accounting.
Permalink Nov 29, Some of these characteristics of fixed assets which necessitate a separate Asset accounting module, are given below: Usually this is the book depreciation area From asset class, system picks screen layout.
Asset class controls asset master data. You can use them to structure your fixed assets according to different criteria.
Asset accounting configuration needed in sap – sap concept hub
Display the asset using the Asset Explorer 2. In other words, classification of fixed assets for balance sheet disclosure purposes becomes easy.
You can define any number of asset classes in the system. Screen Layout rules are created to make it easier to maintain the asset master data as the asset configuation contains a large number of fields which are used for different purposes. WelcomeGuest Login Register.
Asset Accounting Configuration in SAP ERP: A Step-by-Step Guide
configudation Here we can define how the controlling area posting of cost required for each asset transaction type. 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.
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.
For the asset class, useful life and depreciation key is defined in depreciation area. Chart of depreciation has list of depreciation areas depending upon the accounting requirement.
Asset accounting configuration needed in sap
We specify if the period for depreciation posting in the run is monthly, bi-monthly, quarterly etc. Asset inherits account determination key from asset class. We configure the account assignment objects that can be posted based on: Enter business area on the Time Dependent data tab screen D.
A Table purchased may be booked as a individual asset linked to an asset class “Furniture”. The asset accounting module in SAP is one where the accounting pertaining to fixed assets is done. Based upon screen layout, asset master input fields are either required or optional or suppressed. Based on asset classes, we also assign the account assignment for various transactions pertaining to that asset class.
Depreciation keys contain the calculation methods for depreciation calculation and parameters that control: From company code, chart of depreciation is picked which in turn leads to determination of depreciation areas.
These include transactions like acquisition of fixed assets, sale of fixed assets, in-house development of assets, settlement of Cec6, and accounting for depreciation on fixed assets and so on. Land, Plant and Machinery ecc6. Many values are derived from asset class while creating the master data. When an accounting document is generated for asset transaction, GL accounts for accounting document are picked from account determination key.
Could you please add corresponding tables as well, this will really help when people are doing support or projects.