Asset class sap

Asset class sap DEFAULT

The following training tutorial guides you how to create new asset classes in SAP FI – AA step by step.

SAP Menu Path :- IMG >> Financial Accounting >> Asset Accounting >> Organisational Structure >> Asset Classes > Define Asset Classes

Transaction Code : – OAOA

Step 1 :– Enter transaction code OAOA in the sap command field and press enter

Create New Asset Classes Tcode - OAOA

Select “New Entries” button

asset classes new entries

Step 2 : –Update the following information

1. Asset class : – Enter the Asset class 

2. Short text : – Enter description and short test

3. Asset type : – Enter Account determination,  screen layout rule.

4. Number assignment : -Enter the number range no for asset classes

5. Select include asset under inventory data.

6. Select No Auc (Asset under construction) or summary management of AUC

Create New Asset Classes

Click on save icon to save the configured data. You have successfully created asset classes.

Sours: https://www.saponlinetutorials.com/create-new-asset-classes/
Customizing

Create the asset classes as shown in the table below, in Customizing for Financial Accounting (FI), by choosing  Asset Accounting Organizational Structures Asset Classes Define Asset Classes. 

Define the asset number ranges as shown below, in Customizing for FI, by choosing  Asset Accounting Organizational Structures Asset Classes Define Number Range Interval. 

Create a separate account determination key for each asset class, in Customizing FI, by choosing  Asset Accounting Organizational Structures Asset Classes Specify Account Determination  . The account determination keys are supplied with the system, one for each asset class. They have the same names as the asset classes given below – for example, the asset class called Land has a key with the same name, the same is true for the Buildings asset class, and so on. If you decide to use different descriptions for the asset classes than the ones listed below, you may wish to change the key descriptions to match.

Asset Class

Description

Number Range

From

To

TR250

Land

00

250000

250999

TR251

Land improvements

01

251000

251999

TR252

Buildings

02

252000

252999

TR253

Machinery and equipment

03

253000

253999

TR254

Motor vehicles

04

254000

254999

TR255

Office equipment and furniture

05

255000

255999

TR256

Miscellaneous tangible assets

06

256000

256999

TR258

Assets under construction

07

258000

258999

TR260

Rights

10

260000

260999

TR261

Goodwill

11

261000

261999

TR262

Founding costs

12

262000

262999

TR263

Research and development costs

13

263000

263999

TR264

Special costs

14

264000

264999

TR265

Software

15

265000

265999

TR267

Miscellaneous intangible assets

17

267000

267999

Periodic Processing

You calculate depreciation on all assets except land (asset class TR250) and assets under construction (TR258) (for more information, see Depreciation ).

Some asset classes have to be adjusted for inflation (for more information, see Inflation Accounting for Asset Accounting ). You have to assign a revaluation key to these classes.

Sours: http://saphelp.ucc.ovgu.de/NW750/EN/46/31c2531bb9b44ce10000000a174cb4/content.htm
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Asset classes are the most important means of structuring fixed assets.An unlimited number of asset classes can be defined in the system. Asset classes uses to structure the assets according to the requirements of the enterprise company.

Asset classes applies in all company codes. The asset class catalogue is relevant in all company codes in a client. The company codes can have different charts of depreciation and different depreciation areas.

Asset Class Structure: -

An asset class consists of three main sections -

  • A header section -- with the control parameters for master data maintenance and account determination
  • A master data section -- with default values for the administrative data in the asset master record
  • A valuation section -- with control parameters for valuation and default depreciation terms for each depreciation area
Maintain Asset Classes

Create New Asset Classes: -

Below process is to create new asset class.

Step-1: Enter the transaction code OAOA in the SAP command field and click Enter to continue.

Maintain Asset Classes

(OR)

Enter the transaction code SPRO in the SAP command field and click Enter to continue.

Maintain Asset Classes

Click on SAP Reference IMG.

Maintain Asset Classes

Expand SAP Customizing Implementation Guide → Financial Accounting → Asset Accounting → Organizational Structure → Asset Classes → Define Asset Classes. Click on Execute.

Maintain Asset Classes

Step-2: In the next screen, click on New Entries.

Maintain Asset Classes

Step-3: Enter the below details.

  • Asset class
  • Short Text
  • Asset Type section
  • Number Range from number assignment
  • Select include asset under inventory data
  • select Asset under construction
Maintain Asset Classes

Step-4: Once all the details entered, click on Save button to save the details.

Maintain Asset Classes

Step-5: It prompt for the Change Request. Create/Select the change request and Click on right mark to proceed.

Maintain Asset Classes

Step-6: Status bar displays the below message once the asset class created successfully.

Maintain Asset Classes

Technical Information: -

  • Transaction Code: - OAOA
  • Navigation path: - SPRO → SAP Reference IMG → SAP Customizing Implementation Guide → Financial Accounting → Asset Accounting → Organizational Structure → Asset Classes → Define Asset Classes
  • Database Table: - ANKA, ANKT, T095A, T082A, T095T, T082H

Sours: https://www.tutorialscampus.com/sap-fi/maintain-asset-classes.htm
Correction of Asset class through ABUMN
Define Asset Classes
One of the most important criteria for structuring fixed assets from an accounting point of view. Asset class means group of similar assets. The account determination, screen layout rule and number range configurations are required to define asset class in the SAP system. Every asset must be assigned to an asset class. It is on the basis of asset class the system defines screen layout rules to be followed for particular asset and what number range will be provided to the asset. Asset class linked to account determination specifies to which general ledger account values to be posted or transferred.

Path: SPRO - Select SAP reference IMG - Financial Accounting - Asset Accounting - Organisational Structures - Asset Class - Define Asset Classes (transaction code is OAOA)



In the menu path select


Step 1)Select New Entries button
Give Asset Class: MML1000
Description and Short Text: Free Hold Land
Account determination: MML10000 (Select from drop down)
Screen layout rule: MML1 (Select from drop down)
Number range: 01
Select include asset check box under Inventory data
Select No AUC or summary management of AUC radio button
Save


Note:AUC stands for Asset Under Construction

We receive a message below


Step 2) Select next entry buttonin the same screen
Give Asset Class: MML1100
Description and Short Text: Factory Buildings
Account determination: MML11000 (Select from drop down)
Screen layout rule: MML2 (Select from drop down)
Number range: 02
Select include asset check box under Inventory data
Select No AUC or summary management of AUC radio button
Save


We receive a message below

Step 3) Select next entry buttonin the same screen
Give Asset Class: MML2000
Description and Short Text: Department A
Account determination: MML20000 (Select from drop down)
Screen layout rule: MML3 (Select from drop down)
Number range: 03
Select include asset check box under Inventory data
Select No AUC or summary management of AUC radio button
Save


We receive a message below


Step 4) Select next entry buttonin the same screen
Give Asset Class: MML3000
Description and Short Text: Furniture and Fixtures
Account determination: MML30000 (Select from drop down)
Screen layout rule: MML4 (Select from drop down)
Number range: 04
Select include asset check box under Inventory data
Select No AUC or summary management of AUC radio button
Save


We receive a message below


Step 5) Select next entry buttonin the same screen
Give Asset Class: MML3100
Description and Short Text: Vehicles and Others
Account determination: MML31000 (Select from drop down)
Screen layout rule: MML5 (Select from drop down)
Number range: 05
Select include asset check box under Inventory data
Select No AUC or summary management of AUC radio button
Save


We receive a message below


Step 6) Select next entry buttonin the same screen
Give Asset Class: MML4000
Description and Short Text: Capital Work In Progress
Account determination: MML40000 (Select from drop down)
Screen layout rule: MML6 (Select from drop down)
Number range: 06
Select include asset check box under Inventory data
Select Line item settlement  radio button
Save


We receive a message below


Sours: http://sap-ficolearning.blogspot.com/2017/11/define-asset-classes-in-sap.html

Sap asset class

Below accounting document for depreciation of asset will be posted every month in account books.

Depreciation account 1250

CR Accumulated depreciation account 1250

This accounting document gets posted automatically in sap once depreciation run is performed in sap. Depreciation run is performed every month end in sap using T code AFAB which we will cover in detail at later stage.

As of now, the question is how system calculates depreciation amount and from where system picks GL account for depreciation account and accumulated depreciation account.

 

Depreciation amount calculation

Total initial cost = 150000

Total life 10 year = 120 months

Depreciation method is straight line, hence depreciation per month= 150000/ 120 = 1250

There can be various other depreciation methods but in our example we have taken straight line depreciation or linear depreciation.

Hence depreciation amount calculation depends upon APC (acquisition and production cost), useful life and depreciation method.

 

Let’s understand below terminologies which are going to be used in asset accounting.

APC (Acquisition & Production cost):

Total cost which is paid to get the asset. Asset is either produced in-house or purchased externally or may include a mix of both. Whatever is the total cost incurred to get the asset is referred as APC, it may include vendor bill amount, freight cost, custom charges, installation cost etc.

Useful life:

Life over which asset is supposed to be used. At the end of useful life asset is supposed to be left with zero value or scrap value. Useful life of asset is decided by guidelines provided in respective country’s accounting principles. Hence different accounting principle may suggest different useful life for the same asset as per their respective accounting priniciples.

Depreciation key:

Depreciation key is basically method of depreciation. There can be various method of depreciation like linear depreciation, declining balance method, maximum amount method, multilevel method etc.

 An asset is depreciated using suitable depreciation method or in other words an asset is assigned suitable depreciation key.

 

Account determination key:

There are many transactions done with asset. Depreciation is just one of the transactions.

Whenever any transaction is performed with asset, corresponding accounting document gets generated automatically. Sap picks GL account for posting accounting document by using account key. Account key holds the information about which GL account is to be picked for what transaction.

Account key is assigned to asset.

 

Understanding asset class

Assets which have common characteristics like same useful life, same method of depreciation and uses same GL account for posting accounting document are said to belong to same asset class. Hence asset class is grouping of assets which have same common characteristics.

Example :

You may have different bikes: CBZ, unicorn, FZ Honda, Pulsar bajaj, Enfield, etc

You may have different cars: i10, Ertiga, Honda city etc

You may have different machines: Machine 1, Machine 2, Machine 3, Machine 4 etc

You may have different laptops: acer, dell, hp, Lenovo etc

 

You may have purchased each asset at different prices hence each asset may have different APC value.

Sours: https://techconcepthub.com/use-of-asset-class-in-sap/
SAP Business One Training - Fixed Assets Management

How to Create Asset Classes in SAP

What is Asset Classes

Fixed assets like Plants, Machines, Land, Buildings, Furniture, Vehicles etc are categorized into asset classes in SAP. It means you have asset classes for Land, Building, Plants etc. When we create an asset class for an asset the properties of the asset class are derived by that asset.

For example suppose we create one asset class for Land asset class category then all the properties of that asset class are derived to the same asset Land. One asset belongs to one asset class only but in one asset class, you have different assets.

For example in the Machines asset class, you can create so many different types of Machines asset master records. Asset classes are created at the client level. It means all the company code in the client can use the same asset class.

Step by Step Procedure to define Asset Classes

Step 1: Run T-Code OAOA in the SAP command field.

OAOA

OR

Navigate to following SAP menu Path:

T-code SPRO > SAP Reference IMG > Financial Accounting > Asset Accounting > Organizational structure > Asset classes > Define Asset classes.

Change View Asset classes Overview Window will come,

In this window, you will see the list of all previously created asset classes in the SAP System

OAOA

Step 2: Now click on   Next, click the new entries icon in order to create a new asset class in your SAP System.

New Entries

Step 3:New Entries: Details of Added Entries” windows will open

Please enter the given below details.

  • Asset Class: Enter 6 digit unique numeric key for the new asset class.

  • Short text: Enter description.

  • Asset Type: Enter

    • Account determination key
    • Screen layout rule key
  • Number Assignment: Enter Number assignment range value
  • In case if you want to maintain a sub-number externally select the external check box.

  • Select: No AuC or summary management of Auc for all asset classes.

Assets Classes

Now click on icon on top of the screen as shown in the image it will save all required information.

Save Asset Classes

Select your customization request-id and then press Enter to proceed.

Create customization request-id

All the pieces of information for our new Asset class have been saved

Now you have created a new Asset Class (111) in your SAP system.


Sours: https://www.stechies.com/create-asset-classes-sap/

You will also like:

How to Create Asset Classes in SAP | What is an Asset Class

In this SAP FICO Tutorial, you will learn what is an asset class and how to create asset classes in SAP system by using transaction code OAOA.

What is Asset Class in SAP / Assets Classes

In SAP, Asset classes are used to classify the fixed assets in the asset accounting according to the asset types. Each asset master data must be allocated to one asset class, for e.g. Building, Vehicles, Furniture, Machines, etc. Asset classes are defined at SAP client level and contain key control parameters such as number assignment for asset, account determination and screen layout rules.

Asset classes in SAP - tutorial kart

How to create new asset classes in SAP

In this SAP FICO training tutorial, you will learn how to configure new asset class in SAP step by step using transaction code OAOA. In our previous SAP tutorials, we have learn how to maintain number range intervals for assets in SAP.

Configuration steps

The creation of asset class in SAP involves the following configuration steps

Transaction code: – OAOA

SAP IMG Path: – SPRO > SAP Reference IMG > Financial Accounting > Asset Accounting > Organizational structure > Asset classes > Define Asset classes.

Define asset classes menu path

Step 1: – Enter tcode OAOA in the SAP command field and press enter.

asset class tcode OAOA tutorial kart

Step 2: – On change view asset classes overview screen, click on new entries button for creation of new asset classes in SAP.

asset classes overview screen

Step 3: – On new entries  asset class screen, update the following details.

  • Asset Class: – Enter the key that identifies the asset class in the SAP asset accounting.
  • Short text: – Enter the short text of an asset class.
  • Asset Type: – Under asset type, update the account determination key and screen layout rule key in the given fields.
  • Number Assignment – Update the asset number range interval key in the given field for assignment of number range to asset classes. If you want maintain sub number externally select the check box or leave external check box.
  • Select the No auc or summary management of Auc for all asset classes.
Create Asset Classes in SAP - tutorialkat

After maintaining all the required details, click on save button and save the configured details.

Successfully we have created new asset classes in SAP.

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➥ PDF Download - How to Create Asset Classes in SAP | What is an Asset ClassSours: https://www.tutorialkart.com/sap-fico/how-to-create-asset-classes-what-is-asset-class/


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