basic configration of asset accounting setup sap fico

This article presents a very basic bare-bones asset accounting setup. It assumes familiarity with SAP configuration terms and concepts.


Setup company codes to be used for asset accounting.


1. Copy chart of depreciation. [Transaction EC08]


2. Set default tax codes for non-taxable transactions which require tax code. (Impt., errors often rise because this step is omitted)


3. Setup asset classes.


4. Set no posting to G/L for all classes except book depreciation (this is the typical setting)


5. Enable posting of unplanned depreciation and any other special postings (e.g. revaluation)


6. De-activate depreciation areas not required


7. Setup account assignments for all the asset classes. Note that the minimum accounts required are a balance sheet account for asset cost, for accumulated depreciation, and a P&L account for asset depreciation expense. [Transaction AO90]. Additional accounts that will be required are the gain/loss on sale and asset scrapping accounts. Note that more than 1 asset class can share the same account assignment.


8. Assign how depreciation posts to cost centers [Transaction OAYR]


9. Assign asset balance sheet A/Cs to profit centers if required [Transaction 3KEH]


10. Allow revaluation postings for selected company codes with revaluation [Transaction OAYR]


11. Run program RACHECK1 to eliminate inconsistencies between company code and asset management account data


12. Set document types for postings: (setting for transaction types). Suggested document types below:


AA Asset acquisition AS Asset disposal AT Asset transfer AX Asset reversal AF Asset depreciation [Transactions A071, OBA7]


13. Specify transfer of APC values [Transaction OABC]


14. Specify rounding of figures for net book value to nearest whole dollar [OAYO], table T093B


15. Setup depreciation keys as necessary: [Transactions AFAMA]


0000 No depreciation and no interest SLFD Str.line frm acq.value to 0 w/o int. frm start day


-Base method 11: Ordinary straight line using % from life to end of life


SLFM Str.line frm acq.value to 0 w/o int. frm start mth


-Base method 11: Ordinary straight line using % from life to end of life


16. Switch on only the required depreciation areas [Transaction OAYZ]


- Enter default depreciation keys for these 2 asset classes


17. Setup asset number ranges in production client [Transaction AS08]


Additionally, specify company independent number ranges that refer to a base company if necessary [Transaction AO11]


18. Check FI document number ranges for asset postings


19. Check that all asset G/L accounts have tax code and account groups correctly setup


20. Define screen layouts for each asset class as per user requirements


21. Set inter-co transfer methods (Maintain view [V_T093A_05])


Indicator: Transfer with historical values This indicator controls how the system treats transfers between affiliated companies. If this indicator is set, transfers in this depreciation area are not identified as acquisitions or retirements. Instead they are identified as transfers (particularly in the asset history sheet). In addition, posting of the transfer is gross (that is, with historical acquisition costs and depreciation).


Note:
This indicator has the affect described above only if it is used in combination with these two indicators in the definition of the transaction type: ‘post to affiliated company’ ‘gross’ Maintain view [V_T082I_01] for inter-company transfer settings


Optional-Revaluation Setup (Under special valuation section os AA IMG)


22. Set revaluation of cost and accumulated depn for all areas [OABW]


23. Define revaluation measures. (key, description, depreciation areas and posting data).


24. Specify G/L accounts for revaluation of asset acquisiton cost


25. Maintain transaction types for asset revaluation postings if necessary