Sap Fico Shortcut Keys Pdf Creator

  1. Sap Fico Shortcut Keys Pdf Creator
  2. Sap Fico Shortcut Keys Pdf Creator Download

SAP FICO SHORTCUT KEYS LIST OF SHORTCUT KEYS SAP FICO SHORTCUT KEYS STANDARD TRANSACTION CODES IN ACCOUNTS PAYABLE AREA (UNDER FINANCIAL ACCOUNTING MODULE): Document Entry FB60 – Invoice F-43 – Invoice – General FB65 – Credit Memo F-41 – Credit Memo – General FB10 – Invoice/Credit Memo Fast Entry FV60 – Park or Edit Invoice F-63 – Invoice Parking – General. What is SAP FICO? SAP FICO Training Tutorials for Beginners SAP FICO Define Account Group SAP FICO Reverse Clearing Document Foreign Currency Valuation Configuration SAP FICO User Exit for Vendor Master FICO Vendor Account Group Table SAP FICO Withholding Tax SAP FICO Dunning Area SAP FICO Cash Management Group Assessment Cycle vs Profit Center SAP FICO Asset Accounting SAP FICO Posting Key.

Last Updated on July 17, 2021 by


What is SAP Asset Accounting? – An Overview

Asset Accounting in SAP FICO can manage all your fixed assets, irrespective of your industry and country. We usually call it a subsidiary ledger of FI.

(Article Updated: 29th May2021)

In addition, SAP has designed Asset accounting to manage the entire lifecycle of fixed assets. It starts with purchasing to retirement or scrapping. Thus, using this we can calculate the depreciation of assets, automatically and manually,. Many also called it Fixed Asset Accounting in SAP.

Further, Asset Accounting in SAP FICO provides real-time integration with FI for simultaneous recording of asset transactions. This includes initial and subsequent acquisition, retirement, transfer and scrapping.

Besides this, you can also do some other actions.

What you can do with Asset Accounting in SAP FICO

  • Directly post the goods or invoice receipt from MM or PP to FI-AA
  • Post asset sales from FI-AA to a customer account using FI-1R
  • Further, Capitalize the asset maintenance expenses in FI-AA using asset settlements through the PM module
  • Lastly, Pass depreciation from FI-AA to SAP CO

Asset Accounting Process in SAP FICO

SAP Asset Accounting process includes Acquisition, Capitalization, retirement, transfer, depreciation calculation and posting of fixed assets.

It is surely one of the important submodules of SAP ERP Financial Accounting. Hence, the knowledge of the sap asset accounting process is very important for project implementation and configuration.

Required Settings for Asset Accounting Configuration in SAP

SAP Asset Accounting configuration includes a lot of internal configurations and settings. Here is a list of things that an SAP FICO consultant certainly does as part of the Asset Accounting Configuration in SAP.

  1. Customization of Chart of Depreciation
  2. Integration of ledgers with Asset Accounting
  3. Asset Valuation for calculation of APC – Asset Purchase and Acquisition cost
  4. Depreciation Calculation of Fixed Assets
  5. Master Record Settings
  6. Depreciation posting settings
  7. The setting of all asset reports

You must learn these Asset Accounting settings and configurations practically in order to properly set up the Asset Accounting into the SAP system.

Watch YouTube Video:- Learn How to Configure Asset Accounting in SAP FICO

SAP Asset Accounting Process Flow

Organization Structure – Chart of Depreciation

A chart of depreciation is a list of depreciation areas that we arrange according to the business and legal requirements of a country. This we do together with country-specific rules for asset valuation.

Importantly, several company codes can work with the same chart of depreciation.

Also, you require only one chart of depreciation in SAP FICO Asset Accounting for all your company codes.

This is when you see one of the following characteristics:

  • Operate in the same country
  • Or operate in different countries but in the same industry
  • Else operate in different countries but with the same rules of asset valuation.

However, it differs when you have company codes in different countries with varying legal and statutory requirements. In that case, you use a separate country-specific chart of depreciation.

SAP provides a number of the country-specific standard cost of depreciation. This is for countries like the USA, Germany, UK etc. which you should not use as such. Instead, you should use them as the reference chart of Depreciation to create your own chart of depreciation.

SAP Asset Accounting Depreciation Areas

(Or Copy Reference Chart of Depreciation)

Select the appropriate value in the G/L field to determine how the values from this area including depreciation are to be posted to G/L.

Parameters for selecting values:

  1. Post Means the values in real-time
  2. Post the Acquisition and production cost (APC) and depreciation on a periodic basis and so on.

How to do:

SPRO => Financial Accounting (New) => Asset Accounting => Organization Structure => Copy Reference Chart of Depreciation/Depreciation Areas Transaction Code- EC08

Further, you may also maintain a target ledger group (Leading or Non-Leading) to which a particular depreciation area should post.

To change or denote a depreciation area as real or derived, copy the entry and select or deselect the Real checkbox.

You may be interested in: Ledgers in SAP S/4HANA Finance

Shortcut

Structure of Fixed Asset

The Fixed Asset Accounting in SAP has two types of Structure.

  • Simple Asset
  • Complex Asset

A fixed asset can be a simple asset or a complex asset.

Simple Asset: A simple asset is represented by the main asset number and does not have any sub-asset.

Complex Asset: While a complex asset is denoted by the main asset number that contains one or more sub-asset. We represent it with asset sub-numbers.

Related: SAP FICO Interview Questions on Fixed Assets

Account Determination in Asset Accounting in SAP FICO

Account Determination in asset accounting creates a link between the asset classes and the GL accounts.

How to Do:

SPRO => Financial Accounting (New) => Asset Accounting => Organization Structure => Asset Classes => Specify Account Determination

Create a Screen Layout Rule

It controls the field settings of Asset Master Data.

How to Do:

SPRO => Financial Accounting (New) => Asset Accounting => Organization Structure => Asset Classes => Create Screen Layout Rule

Asset Class

An asset class is a classification parameter. Thus, we use it to categorize assets into categories. This includes building, plant and machinery, electrical equipment, vehicles, furniture and fittings.

What does an Asset Class do in SAP FICO Asset Accounting?

Asset Class helps to make structure assets based on business and legal requirements. It further enables you to classify them for accounting purposes.

Additionally, Asset Classes are connected to the G/L accounts through the account assignments. Thus, it allows you to make a single account assignment for several asset classes.

How does it do?

Each asset class has the control parameters and default values for general master data and depreciation terms. Hence, you need to assign each asset to an asset class.

Certainly, an asset class should have control parameters for the master data content and calculating depreciation, insurance etc.

You may also define special asset classes to take care of AUC, Leased Asset etc.

How to Define an Asset Class?

SPRO => Financial Accounting (New) => Asset Accounting => Organization Structure => Asset Classes => Define Asset Class. Tcode – OAOA

Also Read: Document Types in SAP FICO

Asset under Construction– AUC

AUC is a special type of tangible asset. It is normally shown as a separate item in a balance sheet. That is to say, you need a separate asset class to represent such an asset.

Please note, you can manage AUC collectively in a single master record or as individual items with separate master records.

Sap fico shortcut keys pdf creator free

Now, when this is complete, you can transfer or distribute AUC to other asset master records through line item settlement. This is because normally many countries do not allow depreciation.

Valuationof Assets

Valuation of fixed assets helps you to understand the current value of an asset. It also gives a view of historical valuation. Likewise, it provides valuation regarding retirement or scraping an asset before its economic life expires.

Related:- 3 Key Features of New Asset Accounting in S/4HANA

How to Define Depreciation Area in Asset Accounting SAP FICO?

A depreciation area in SAP FICO Asset Accounting contains the parameters you require to value an asset. It is denoted by a two-digit key.

Importantly, you may use more than one depreciation area to represent different asset valuations. This is for cost accounting or legal reporting. Further, a chart of depreciation is made up of a list of such depreciation areas.

Real Depreciation Area

This is always designed as the master depreciation area that supplies value to your balance sheet. It is also known as the Book Depreciation Area.

Normally it is designated as 01.

This area also helps in automatic postings to FI. Here, it uses the same currency as that of the company code.

You cannot make this area adopt values or depreciation terms from other depreciation areas. Similarly, you cannot delete this area too. Noteworthy, When you transfer legacy data, you actually transfer only the values to this area.

Derived depreciation area

This area determines the new asset values. Consequently, it uses the value that has already been determined in other depreciation areas. For this, it uses some mathematical operations.

As far as reporting and field display are concerned, there is no difference between real or derived areas. However, if you specify that a particular derived area is only for reporting, and then the system does not subject that area to value checks.

Specify Transfer of APC Values

You need to ensure that posting values from depreciation area 01 are copied to the rest of the areas. While doing so, you can also define whether the transfer is mandatory or optional.

Noteworthy the optional setting allows you to enter the values during transaction postings.

Steps:

SAP

SPRO => Financial Accounting (New) => Asset Accounting => Valuation => Depreciation Areas => Specify Transfer of APC Values Tcode- OABC

Specify Transfer of Depreciation terms

You can specify an area from which you need to transfer the depreciation terms to another area. As a result, it ensures uniform depreciation in the target areas. Similarly, it also ensures that you do not have to maintain these terms in the asset master records.

How to Specify:

SPRO => Financial Accounting (New) => Asset Accounting => Valuation => Depreciation Areas => Specify Transfer of Depreciation Terms. Tcode- OABD

Do Read: List of Important Tcodes in SAP FICO

How to determine Depreciation Areas in the Asset Class under Asset Accounting in SAP FICO?

For depreciating at the main asset number level, you must also maintain the screen layout rule. This you should do for each of the depreciation areas per asset class for a chart of depreciation.

Steps to do:

SPRO => Financial Accounting (New) => Asset Accounting => Valuation => Determine Depreciation Areas in the Asset Class. Transaction Code- OAYZ.

Wrap-Up

Asset Accounting is a really long concept in SAP FICO. Thus, it really takes good efforts to properly understand this topic. Although practical knowledge is more important than theoretical. But you must understand that it’s the concepts that first should be clear about any subject. Then only you can do the practical work error-free and confidently. So read it well and thoroughly and then practice it regularly to get expertise.

Migrating to New Asset Accounting in S/4HANA

Asset Accounting has further taken a new direction with the launch of S4HANA. With S/4HANA it has become more advanced and more important.

Since, SAP has introduced New Asset Accounting in SAP S/4HANA Finance, which is obviously more advanced, user-friendly and with more features. Hence, you should also learn New Asset Accounting in SAP S/4HANA too.

Sap Fico Shortcut Keys Pdf Creator

Must Read: What’s New in SAP S4HANA FinanceTraining

Sap Fico Shortcut Keys Pdf Creator Download

Watch Video: Asset Accounting in SAP FICO by Pradeep Hota