Asset Transfer/ Disposal Process
This refers to the SAP process of transferring and disposing fixed assets.
Full asset transfer is typically necessitated when an asset was initially capitalized in the wrong asset class. Asset master in the correct asset class should first be created and thereafter the values will be transferred via the transfer within company code function in the Fixed Assets module.
A common reason for partial transfer is where multiple quantities of assets were capitalized in one asset master and some of the assets are transferred to another cost centre or plant.
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Asset Under Construction Process
This refers to the SAP process of settling AUC. This is part of the end to end process Procurement for Fixed Asset in SAP.
Common Business Requirement
When the AUC is ready to be used, asset master in non-AUC asset classes should be created. Thereafter, distribution rule should be maintained and settlement carried out where the system will debit the asset in non-AUC asset class and credit AUC. Upon settlement, system capitalizes the non-AUC class with asset value date of settlement. Upon final settlement of the AUC, it must be manually deactivated
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Asset Acquisition Process
This process refers to the purchase of fixed asset.
Common Business Requirement
Generally, assets must be purchased via purchase order. Assets are purchased directly via the Fixed Assets module only in exceptional cases e.g. urgent acquisition.
If asset is purchased via purchase order, capitalization date will be the goods receipt date and capitalized amount will be the invoice receipt amount. When goods receipt for the fixed asset is posted, there is no accounting entry. When the invoice verification is posted, the asset is debited and vendor is credited. The process is the same for imported assets.
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Maintain Fixed Asset Process (2)
Chart of Depreciation and Depreciation Area in SAP
Chart of depreciation determines the number of deprecation areas. One company code will be assigned to only one chart of depreciation. It is possible to assign multiple company codes to the same chart of depreciation. Basically, one chart of depreciation is created for each country. Company codes within the same country are assigned to the same chart of depreciation.
In SAP system,there will be multiple depreciation areas in one chart of depreciation. Depreciation areas are used to calculate different values in parallel for different purposes e.g., legal, tax, insurance, revaluation and concern.
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Maintain Fixed Asset Process
This refers to the process of creating, changing, blocking and deleting asset master as asset main numbers and asset sub numbers in SAP.
Common Business Requirement
Asset master is the record of the fixed asset within the SAP system. Asset masters are created under the following scenarios:
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SAP Business Blueprint – Asset Accounting
The SAP business blueprint – asset accounting describes the common business requirements, process and design. The objective is to use the standards across implementations in various countries/regions.
The processes covered within this Asset Accounting blueprint are:
- Maintain Fixed Asset
- Asset Acquisition
- Asset Under Construction
- Asset Transfer/Disposal
- Leased Assets
- Revaluation and Indexation
- Fixed Asset Period-End Closing
- Fixed Asset Year-End Closing
- Fixed Asset Reporting
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