Fixed Asset Period-End Closing
This refers to the SAP activities which need to be performed prior to closing of the SAP period for fixed assets.
Common Period-End Closing Business Requirement
After all the fixed assets invoices for the month have been booked and all AUCs which are ready for use have been settled, depreciation run should be executed.
Before executing depreciation run, the report Locked Cost Centers and Internal Orders should be generated for checking. This report shows if there are any cost centers which are assigned in asset masters but are blocked.
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Leased Assets Process
Common Business Requirement
Both capital lease and operational lease, asset masters will be created for the asset under leasing asset classes in the SAP system.
Basically, procurement of leased assets will be the same as procuring normal assets. At the end of the lease agreement, this capital lease asset will be transferred to its original asset class via the transfer within company code function in SAP Fixed Assets module.
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Asset Disposal/Scrapping – Asset Accounting(SAP)
Definition
Asset Disposal and scrapping in SAP refer to the removal of a full asset or part of an asset either through sale to a third party or scrappage
Objective
This SAP process is to retire a full asset or part of an asset properly.
Operation Rule
Any gain or loss from these SAP transactions will be recorded in a SAP gain or loss account after deducting the proceeds from the sale.
The following steps are required during Asset Disposal/Scrapping process in asset accounting module
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Period Closing Steps – Asset Accounting(SAP)
The following steps are required during period closing of asset accounting module
Step 1: All transactions of Asset Accounting completed
Fixed Asset Staff should complete all transactions of fixed assets such as acquisition, retirement and transfer etc before depreciation run.
Step 2: Execute Depreciation Run in Test mode
Fixed Asset Staff performs Depreciation Run in test mode to ensure if there is no mistake before actual depreciation run.
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SAP Period Closing – Asset Accounting
Process Definition
Definition:
Period closing in Asset Accounting refers to both month-end and year-end closing by performing depreciation run.
Objective:
This SAP process is to close the Asset Accounting Module period on time and ensure that all fixed-asset related transactions are completed prior to periodic close.
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Inter-company Transfer – SAP Business Process
Process Definition
Inter-company transfer refers to asset transfer between entities through asset retirement function.
Objective
This process is to retire asset between entities.
Download here >> Inter-company Transfer(Incoming Payment) Process
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