Asset Class

Asset class is used for classifying fixed assets according to business and legal requirements. For all Asset Class, control parameters and default values will be defined for depreciation calculation and life of the assets.

Account Determination

Account Determination is used to identify account codes based on the Asset Class to post accounting entries during document posting and depreciation posting in Asset Accounting.

Screen Layout

The screen layout specifies the status of the fields in the Asset master record. The screen layout will be used to determine if fields are suppressed, required or optional entry fields.

Integration with General Ledger

The Asset accounting transactions will be posted to General Ledger online. Depreciation area for Book Depreciation will be posted online.

Acquisition of an Asset

All Asset purchases will be routed through Materials Management route by issuing necessary Purchase order. The transaction is similar to the other Material Purchases. In AL-NUKALY the Logistic department will process the GRN through the MM module.

Capitalization Date: The GRN Date will be considered as Asset Capitalization Date. The same can be changed in the asset master till the first depreciation run.