Asset Class is an important part of asset accounting in SAP Financials. An asset class acts as backbone of the asset accounting. They help us in structuring the asset accounting as per the client’s requirement.
The Asset classes play a vital role in General Ledger Account determination and screen layout.
Asset classes are very important organisational structure and hence need to be decided carefully as it becomes difficult to accommodate one after going live though not impossible.Features
Controls Screen Layout
Helps in G/L Determination
Determines the Number Range
Tab Layout assignment is at Asset Class level
Applicable throughout the company codes in the client
IMG Path: Financial Accounting (New) > Asset Accounting > Organizational Structures > Asset Classes > Define Asset Classes The Asset Class has following fields
Asset Class Define the number of Asset Class in such a way that it becomes easy for the master data team to recognise it easily (Yes, description is also available)
Long Text Enter relevant description to identify the asset class
Short Text Enter short text to identify the asset class
Account Determination Enter the relevant account determination code created. This key links all the G/L accounts to the asset master through asset class.
Screen Layout Enter screen layout code here. Status of all the fields under various tabs is controlled using this key.
External/internal asset subnumber assignment Select this option if you want the sub asset numbering to be external. This will allow the master data person to enter the sub asset number manually.
Inventory data (Include asset) Set this indicator if you want the asset to be counted in a physical inventory. This indicator ensures that the asset is included in the standard inventory list of Asset Accounting. Assets without this indicator are not output by the report.
Status of AuC This section contains configuration for Asset Under Construction. We have following three options under this section (only one can be selected):
No AuC or summary management of AuC Specifies that assets under construction in this asset class are managed without the option of line-item final settlement to receiver assets or cost centers.
The summary management of the asset under construction has the following affects:
Only complete transfers or simple partial transfers are possible (in other words, you can only transfer either prior-year acquisitions or current-year acquisitions in one given posting transaction).
You can only transfer to one target asset per posting transaction. You have to enter the amount of the transfer manually.
There is no connection to the original asset under construction in the capitalized asset. Therefore, there is no exact proof of origin for the original postings.
Line item settlement Specifies that the assets under construction in this asset class are managed with the option for final line item settlement to receiving assets or cost centers. In other words, for the normal AuC, select this option
Investment measure Specifies that the assets under construction in this asset class can be created solely in relation to capital investment measures (internal orders or WBS elements).
The assets in this class cannot then be directly created and posted in Asset Accounting. The assets can only be processed by means of the order or the WBS element, to which they are assigned.
Asset class in blocked Select this option if you don’t want new assets to be created under the asset class.
Technical information This part contains the user id who created this asset class with date and user id for change, if any.
Reference material Asset Class