The Asset Accounting sub-module manages a company’s fixed assets. Within the Financial Accounting system, FI-AA serves as a sub-ledger to the General Ledger, providing detailed information on asset-related transactions. This is the main criterion for classifying assets by business and legal requirements. The asset class, created at the client level, consists of a master data and depreciation area section. Each asset master record must be allocated to one asset class.
The asset class is the main criterion for classifying assets. Every asset must be assigned to only one asset class. Examples of asset class are Plant& Machinery, Furniture & Fixtures, Computers etc. The asset class also contains the Gl accounts which are debited when any asset is procured. It also contains the GL accounts for depreciation calculation, scrapping etc
Whenever you create an asset master you need to mention the asset class for which you are creating the required asset. In this manner whenever any asset transaction happens the gl accounts attached to the asset class is automatically picked up and the entry passed. You can also specify certain control parameters and default values for depreciation calculation and other master data in each asset class.
SAP Asset Accounting Management provides a lot of different functions.
1. Asset master data maintenance (asset classification, asset description, serial number, inventory number, depreciation terms, location, responsible party, etc.)
2. Asset lifecycle management (acquisition or construction, transfers, replacement, dispositions, and retirements)
3. Asset inventory counts
4. Asset depreciation
5. Asset reporting
This document will walk you through various processes in Asset accounting management. You will first understand everything about SAP asset management, Asset Master data, changing time-dependent fields, asset master data for whole room concept, assets under construction or projects, intercompany transfers, applying subsequent charges, capitalizing salaries and displaying and changing asset documents.
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Asset accounting in SAP.
Configuring Asset Accounting
The configuration steps for Asset Accounting, in brief, are as follows:
- Copy a reference chart of depreciation areas
- Assign Input Tax indicator for nontaxable acquisitions
- Assign chart of depreciation area to company code
- Specify account determination
- Define number range interval
- Define asset classes
- Define depreciation areas posting to general ledger
- Define depreciation key
Frequently asked questions about Asset Accounting
Fixed Asset Data Migration
Data migration is slightly different from a normal transaction which happens in Asset accounting module.
Normally, in asset accounting the day to day transactions is posted with values through FI bookings and at the same time the asset reconciliation is updated online real time. Whereas In data Migration the asset master is updated with values through a transaction code called as AS91. The values updated on the master are Opening Gross value and the accumulated depreciation. The reconciliation GL account is not automatically updated at this point of time.
The reconciliation accounts (GL codes) are updated manually through another transaction code called as OASV.
If profit center is active, then after uploading assets through AS91 you should transfer the asset balances to profit center accounting through a program. Thereafter you remove the Asset GL code (reconciliation accounts) from the 3KEH table for PCA and update the Asset reconciliation account (GL code) through OASV.
After this step you again update the Asset reconciliation account in the 3KEH table. The reason you remove the Asset reconciliation code from 3KEH table is that double posting will happen to PCA when you update the Asset reconciliation manually.