Ans: Yes, it is possible to depreciate only selective assets in SAP using Asset master AS0. In Asset Master AS0, an option for "asset shut down" signals SAP to stop calculating any selective asset(s) depreciation.
You can also schedule this "asset shut down" feature, allowing you to set a period to halt depreciation and restart when this period is over.
Ans:Baseline method is a straight-line depreciation method. The depreciation is calculated based on a defined percentage or life of the asset, which must be maintained in the asset master.
It can be calculated by subtracting an asset's cost and its expected salvage value and then dividing by the number of years it is expected to be used.
For example, the acquisition value of an asset is Rs. 10,000, and the life of the purchase is maintained as 20 years. Therefore, the system will calculate depreciation @ Rs. 500 every year for 20 years.
The declining balance method is also referred to as the written down value method. This is because we record significant depreciation expenses in the initial years of an asset's life and more negligible depreciation during later years of an asset's life in this method.
It can be calculated by multiplying an asset's book value and its rate of depreciation. For example, if a 10% declining balance method is chosen, the depreciation will be calculated @ Rs in the first year. 2,000. In the second year, the base for the calculation of depreciation will be Rs. 18,000 and depreciation will be Rs. 1,800.
Ans: We need to run a job overview because some transactions need significant time to run. Therefore, we run these time-consuming jobs as background jobs to save time. E.g., Depreciation posting AFAB, ASKB, etc., are run as background jobs.
Also, users can schedule jobs that consume significant time, such as automatic clearing at night time, when the system load is low. The results can be checked after completion from SM37, in which a spool is created.
Ans:You can upload asset data in 2 steps:
Step 1:In the first step, we will identify asset master data. This data includes the Gross Block and Accumulated depreciation of each asset master. The summation should be tallied with the balance in respective GL accounts in the legacy system.
Assets are further segregated into different asset classes. Once this is ready, asset legacy data can be created from transaction AS91.
Simultaneously, the user can upload the balance of Gross Block and Accumulated Depreciation on the cut-over date. This step updates the balances in the asset module; however, it does not create a financial entry.
Step 2:As the GL accounts for Gross Block and Accumulated Depreciation cannot be posted manually, there is a specific transaction code "OASV" through which the financial entry is posted.
In this step, financial entry is posted for all assets combined for each asset class. For example, all Furniture & Fixture asset balances will be combined and posted into the GL as a combined entry.
The financial entry will be as below:
After Step 1 & 2, the balances in the FI & Asset module will match. FI balance can be checked from S_PL0_86000030 and asset balance from S_ALR_87011990.
Ans: The available amount represents the maximum amount that can be paid out from the APP per entry. This principle/concept is similar to the process followed by banks to process cheques. A given set of signatories cannot sign a cheque above a certain amount.
Similarly, the system will not allow the user to process the APP transaction for more than the available amount.
Ans: If the financial year is closed, the rectification can be done only in the next financial year.
For reversing the excess depreciation that has been posted, use transaction ABSO and transaction type 700. The financial entry will be generated at the time of posting depreciation (AFAB).
Ans: You can restart F110 & select the same run id and run date. By doing this, scheduled payment will run again. One can also do a drop-down for identification. All the payment that runs for a particular date can be displayed.
Ans: The vendor's reconciliation account cannot be changed unless the vendor has NIL open items. Once the reconciliation account is changed, the old balances appear in the old reconciliation account. Since there are already old entries, it does not have any problems reporting updated balances.
Ans: Yes, purchasing organizations can be updated in the vendor master after posting. We can do this by enabling the MM module (extend it to the MM module).
One can easily update the changes to an existing vendor from transaction code XK01 or MK01. Just make sure to put the same vendor account in the "reference" field.
Ans: Balances of vendors & customers should be uploaded line by line, i.e., all the open items in legacy systems should be uploaded as open items in SAP. While uploading, make sure to fill in the purchase or sales invoice number in the reference field. This will help in the future clearing.
Also, while receiving payment or making payment, the relevant open items will be cleared automatically. Just make sure to upload the baseline date.
Ans: Legacy balance upload GL accounts are created for uploading the opening balance. Ideally, at least 5 Legacy balance upload GL accounts should be created, like:
Once the upload is done, Check the closing balance in all these accounts. It should be zero, which will confirm the correct upload in all the required fields. You can also pass a JV for verifying the balance in all these accounts once your uploading activity is over.
Ans: Yes, this is possible, but it is not advised because it is complex and welcomes errors.
A better practice is to maintain a separate GL account for different cash journals.
Ans: While creating a Depreciation Key, users can select the option of multiple shifts & increasing the depreciation. In the asset master, under time-dependent data, the user can define a shift factor.
Ans:Typical SAP implementation involves different types of custom developments to address various business requirements. These Custom developments in SAP implementation projects can be broadly classified into six distinct categories of development types: workflow, report, interface, conversion enhancement, and forms (WRICEF).
Ans: If you create a new asset with reference to an existing asset master data, all the data of the existing asset gets copied to the new asset code, and the user can make the changes while creating the new asset code.
Suppose you create a new asset with reference to an asset class. In that case, only default account assignments will be copied to the new asset class, Such as depreciation keys.
Ans: According to IAS 21, a foreign currency transaction should be recorded initially during the rate of exchange of the date in the transaction. Then, the foreign currency monetary amounts should be reported using the closing rate at each step, subsequent balance sheet date.
Vendors and customers fall under the category of monetary items. Therefore, the transaction code FAGL_FC_VAL is used to post the foreign currency valuation.
A separate exchange rate type should be maintained for doing foreign currency revaluation. The exchange rate ratio associated with each exchange rate type should also be maintained in OB08 for the relevant closing date.
Ans: As one year of expired useful life has already expired, you can maintain five years as the new life in the asset master. The system will depreciate the remaining balance in the asset over the next five years.
Ans: In the above transaction, the Netbook value is Rs. 90,000, and the asset has been sold at Rs.1,20,000, thereby giving you a profit of Rs. 30,000 on disposal.
This has to be done from transaction code F-92. The user has to do only the first two entries, and the following entries (3, 4, 5, 6) are created automatically by the system.
While doing F-92, tick the box "asset retirement" after entering the Asset clearing account. Following will be the accounting entries:
For simplification, GST is excluded from the above entry. However, if customers have to include GST, then the GST amount will also be debited, and your GST payable account will be credited. The relevant tax code should be filled in F-92.
Ans: The creation of multiple house banks for each separate account number is a good practice. While doing FBZP, the ranking order can be set up for every house bank.
According to this ranking order, the house bank is picked during APP. For branch-wise APP, users can fill the house bank in vendor masters or at the transaction time (FB60 or MIRO).
SAP is divided into several posting period, in a typical fiscal year, with a definite start and end date and the same is defined specifically for each of these periods. Only when the posting periods are in place that's when in the system any document posting. Generally, there are 12 posting periods. Each posting period comprises of a month and a year.
SAP permits the defining of a maximum of four more posting periods, which are referred to "Special Periods", as these are utilized for year-end closing activities. All of this is made possible by dividing the last posting period into more than one, but a maximum of four, period. Typically, all the postings in these special periods should be counted in the last posting period. It is not possible to determine the special periods automatically based on the posting date of the document. The special period has to be entered manually in the document header, in the 'posting period' field.
APP refers to 'Automatic Payment Program' this is a tool provided by SAP to companies for paying the customers and vendors. The APP tools helps in avoiding any mistakes which take place in posting manually. The payment through APP becomes more reasonable and doable when the number of employees is more in the company.
You have to assign APP payment method to bank & vendor.
A customer places an order to a company. If the current stock level is insufficient or the company has no stock then company places a Back-order which simply means that they do not have sufficient stock and they need to order more from the supplier or distributor. Thus back order is an unfilled customer order.
A General Ledger comprises of all the transaction details listed in a company. This serves as primary record for maintaining all accounting details. Common general ledger entries include purchases from vendors, customer transactions, along with internal company transactions.
TAN number is a tax deduction and collection Account Number which is used for deducting the taxes at source.
There is no T.code for New G/L and we can activate it through this path Financial a/c-FAGL-Activate New G/L then you can tick mark and activate the New G/L after this configuration you can new changes in configuration path under Financial Accounting.
Please use the below transaction codes:
Please follow the path below:
Explanation -> Options -> Assessment -> Indirect activity allocation -> Indirect activity allocation.
It depends on client requirements. If client wants to have single COA for both Country or If they want to have different COA they can go ahead. If they want to have both company codes reports in single as consolidation, they can use group COA which captures consolidation report.
Kindly use T-code OB52 to check with open & close posting period.
Please use transaction code OMR6 and Cross check for tolerance keys PP and DQ for your company code where system allow you to post vendor invoice with payment block status.
First navigate to T.code J1incert then fill the all fields and execute it in order to display form no 16A.
Bank ac and sundry creditors.
Vendor acc dr bank ac cr.
It is controlling from basic configuration, you can get it from T-Code SPRO.
You please combile all deliveries in one billing invoice like given below
Periods can vary from year to year ie :-A fiscal year variant has to be defined as year specific if one of the following conditions is fulfilled.
1) Some fiscal years use a different number of posing periods.
2). the start and end dates of the posing periods for some fiscal years are different to the dates for other fiscal years.
You can request those two FI-CA correspondences from FCC. For the printing, some print options need to be defined. The system therefore calls FI-CA event 2821. The standard delivered implementation FKK_SAMPLE_2821 copies the printer parameter from the user data in FI-CA of the invoking user. An adjustment may also be needed on the project side.
If you use the correspondence function from FCC, it is always advisable to test this function first in the FI-CA back end. For example, you could create an account statement using transaction FPL9.