Asset accounting involves defining asset classes, depreciation keys, accounts, and transactions. Key aspects include:
1. Setting up charts of accounts, asset classes, and depreciation keys to track asset values and depreciation over time.
2. Posting acquisition and disposal transactions to record the purchase and sale of assets, and calculate accumulated depreciation.
3. Optionally using internal orders to track investment amounts that settle to assets, and setting up parallel or foreign currency ledgers.
4. Performing periodic postings to transfer asset values and depreciation to ledgers, and uploading initial asset balances.
5. Additional configurations for cash journals, excise duty transactions, and
Asset accounting involves defining asset classes, depreciation keys, accounts, and transactions. Key aspects include:
1. Setting up charts of accounts, asset classes, and depreciation keys to track asset values and depreciation over time.
2. Posting acquisition and disposal transactions to record the purchase and sale of assets, and calculate accumulated depreciation.
3. Optionally using internal orders to track investment amounts that settle to assets, and setting up parallel or foreign currency ledgers.
4. Performing periodic postings to transfer asset values and depreciation to ledgers, and uploading initial asset balances.
5. Additional configurations for cash journals, excise duty transactions, and
Asset accounting involves defining asset classes, depreciation keys, accounts, and transactions. Key aspects include:
1. Setting up charts of accounts, asset classes, and depreciation keys to track asset values and depreciation over time.
2. Posting acquisition and disposal transactions to record the purchase and sale of assets, and calculate accumulated depreciation.
3. Optionally using internal orders to track investment amounts that settle to assets, and setting up parallel or foreign currency ledgers.
4. Performing periodic postings to transfer asset values and depreciation to ledgers, and uploading initial asset balances.
5. Additional configurations for cash journals, excise duty transactions, and
Assign input tax indicator for no tax acquisitions Assign Chart of Dep to Co code Asset Class Define Account Determination. Specify Screen layout rules. Define number range intervals Create GL accounts required for Asset Accouting Define Accounts Assignment Depreciation Key Define Base Method Define Multi Level Methods Define Period Control Method Determine Depreciation Areas in Asset Class Define or Assign Form Assign Settlement profile Asset Accounting Entries and Transactions Asset Acquistion F-90 Fixed Assets - Acquisition Cost AC Dr To Vendor A/c Asset Disposal -Sales to a Customer F-92 Customer A/C Dr 1000 Accumulated Dep A/C Dr 100 Asset Sales A/C Dr 1100 To Fixed Assets-Acquisition Cost A/C 1000 To Revenue for Asset Disposal 1100 To Gain/Loss of Fixed Asset Disposal 200 Asset Disposal -Scrap without Revenue ABAVN Accumulation Deprecation A/C Dr 100 Gain / Loss of Fixed asset disposal Dr 900 To Fixed Assets -Acquisition Cost 1000 Depreciation -AFAB Asset Accounting VS Internal Order Internal Order as InvestmentMeasure 1. Define the AuC Asset Class (with investment measure) - OAOA 2. Define the Asset Class – for Main Asset - OAOA 3. Define Investment Profile - OITA a. Assign the AuC AssetClass(Step-1)in the Investment Profile 4. Assign Investment Profile to Model Order - OITA 5. Define Order Type (Investment) - KOT2 a. Settlement Profile - OKO7 b. Maintain Allocation Structures - OKO6 c. Planning Profile - OKOS d. Budget Profile - OKOB 6. Create an Internal Order - KO01 a. With the Investment Profile (Step-2) b. AuC automatically created by the system using Asset Class given in the Investment Profile 7. Post the amounts to IO - FB01 8. Settle the amounts to AuC from IO (Prcg type: Automatic) - KO88 9. Create the Main Asset - AS01 10. Settle the amounts to Main Asset from AuC (aiab) AuC using Line Item Settlement: 1. Define the AuC Asset Class (with Line Item Settlement) - OAOA 2. Define the Asset Class – for Main Asset - OAOA 3. Define Order Type (Overhead) - KOT2 4. Create an AuC-Asset (using Step-1 Asset Class) - AS01 8. Create Main Asset (using Step-2 Asset Class) - AS01 5. Create an Internal Order - KO01 a. Assign the AuC – Asset in Settlement Rule in IO 6. Post the amounts to IO - FB01 7. Settle the amounts to AuC from IO - KO88 10. Settlement AuC – Line Item List - AIAB 11. Settlement AuC - Receiver - AIBU Parallel Ledger in Assets Excise Transactions 1. Define Depreciation Areas OADB 1) Goods Receipt (MIGO) Bood Depreciation Area f- Area Post in real time Inventory RM A/C Dr 100 Valuation area for no leading ledger - Area post dep only To GR/IR Claring A/C 100 Delta Depreciation Area-Area Post only APC Directly RG23A BED A/C Dr 8 2. Setup Areas for Parallel Valuation (OADB_WZ) To Cenvat Clearing A/C 8 Delta Depreciation Area-Area Post only APC Directly 2) Invoice Verification (MIRO) GR/IR Clearing A/C Dr 100 3.Deermine Depreciation Areas in the Asset Class (OAYZ) Cenvat Clearing A/C Dr 8 Depreciation Key Vat Receivable A/C Dr 4.32 Usefull life To Vendor A/C 112.32 Screen layout for Deprecaiton area 3) Sales-Sales Billing Customer A/C Dr 1283 4. Integration with General Ledger (Ao90) To Sales 1000 To Cenvat Suspense 140 5. Speicfy Document Type for Periodic Posting Asset Values To VAT Payable 142.50 Periodic posting from fixed assets (ASKB) 4) Excise Invoice creation (J1ILN) Cenvat Suspense A/C Dr 140 Cash Journal To Excise Duty Payable A/C 140 Create G/L Account for Cash Journal 5) PLA Deposit Amount Limit PLA A/C Dr 150 Define Document Types for Cash Journal Documents To Bank A/C 150 Define Number Range Intervals for Cash Journal Documents 6) Excise Utilisation Define Numbering Groups Excise Duty Payable A/C Dr Define Number Ranges for Numbering Groups To RG23A BED A/C Set Up Cash Journal FBCJC0 To RE23C BED A/C Create, Cha, Del Business Transactions FBCJC2 R/E/D/K/C/B To PLA A/C Set Up Print Parameters for Cash Journal RFCASH20 FBCJ Print Excise Registers J1ILN
Uploading Asset Balances Procedure
1Deactivate Reconciliation A/C OAMK 2. Upload acquistion values and dep Values AS92 3. Activate Recon A/C OAMK Parallel Currencies in ledgers Specify Area Type =Group Valuation Specify Transfer of APC values Specify Transfer of Depreciation Terms Define Depreciation Areas for Foreign Currency