Define Asset Classes
One of the most important criteria for structuring fixed assets from an accounting point of view. Asset class means group of similar assets. The account determination, screen layout rule and number range configurations are required to define asset class in the SAP system. Every asset must be assigned to an asset class. It is on the basis of asset class the system defines screen layout rules to be followed for particular asset and what number range will be provided to the asset. Asset class linked to account determination specifies to which general ledger account values to be posted or transferred.
Path: SPRO - Select SAP reference IMG - Financial Accounting - Asset Accounting - Organisational Structures - Asset Class - Define Asset Classes (transaction code is OAOA)
In the menu path select
Step 1) Select New Entries button
Give Asset Class: MML1000
Description and Short Text: Free Hold Land
Account determination: MML10000 (Select from drop down)
Screen layout rule: MML1 (Select from drop down)
Number range: 01
Select include asset check box under Inventory data
Select No AUC or summary management of AUC radio button
Save
Note: AUC stands for Asset Under Construction
We receive a message below
One of the most important criteria for structuring fixed assets from an accounting point of view. Asset class means group of similar assets. The account determination, screen layout rule and number range configurations are required to define asset class in the SAP system. Every asset must be assigned to an asset class. It is on the basis of asset class the system defines screen layout rules to be followed for particular asset and what number range will be provided to the asset. Asset class linked to account determination specifies to which general ledger account values to be posted or transferred.
Path: SPRO - Select SAP reference IMG - Financial Accounting - Asset Accounting - Organisational Structures - Asset Class - Define Asset Classes (transaction code is OAOA)
In the menu path select
Step 1) Select New Entries button
Give Asset Class: MML1000
Description and Short Text: Free Hold Land
Account determination: MML10000 (Select from drop down)
Screen layout rule: MML1 (Select from drop down)
Number range: 01
Select include asset check box under Inventory data
Select No AUC or summary management of AUC radio button
Save
Note: AUC stands for Asset Under Construction
We receive a message below
Step 2) Select next entry button
in the same screen
Give Asset Class: MML1100
Description and Short Text: Factory Buildings
Account determination: MML11000 (Select from drop down)
Screen layout rule: MML2 (Select from drop down)
Number range: 02
Select include asset check box under Inventory data
Select No AUC or summary management of AUC radio button
Save
We receive a message below
in the same screenGive Asset Class: MML1100
Description and Short Text: Factory Buildings
Account determination: MML11000 (Select from drop down)
Screen layout rule: MML2 (Select from drop down)
Number range: 02
Select include asset check box under Inventory data
Select No AUC or summary management of AUC radio button
Save
We receive a message below
Step 3) Select next entry buttonin the same screen
Give Asset Class: MML2000
Description and Short Text: Department A
Account determination: MML20000 (Select from drop down)
Screen layout rule: MML3 (Select from drop down)
Number range: 03
Select include asset check box under Inventory data
Select No AUC or summary management of AUC radio button
Save
We receive a message below
Step 4) Select next entry buttonin the same screen
Give Asset Class: MML3000
Description and Short Text: Furniture and Fixtures
Account determination: MML30000 (Select from drop down)
Screen layout rule: MML4 (Select from drop down)
Number range: 04
Select include asset check box under Inventory data
Select No AUC or summary management of AUC radio button
Save
We receive a message below
Step 5) Select next entry buttonin the same screen
Give Asset Class: MML3100
Description and Short Text: Vehicles and Others
Account determination: MML31000 (Select from drop down)
Screen layout rule: MML5 (Select from drop down)
Number range: 05
Select include asset check box under Inventory data
Select No AUC or summary management of AUC radio button
Save
We receive a message below
Step 6) Select next entry buttonin the same screen
Give Asset Class: MML4000
Description and Short Text: Capital Work In Progress
Account determination: MML40000 (Select from drop down)
Screen layout rule: MML6 (Select from drop down)
Number range: 06
Select include asset check box under Inventory data
Select Line item settlement radio button
Save
We receive a message below
in the same screenGive Asset Class: MML2000
Description and Short Text: Department A
Account determination: MML20000 (Select from drop down)
Screen layout rule: MML3 (Select from drop down)
Number range: 03
Select include asset check box under Inventory data
Select No AUC or summary management of AUC radio button
Save
We receive a message below
Step 4) Select next entry button
in the same screenGive Asset Class: MML3000
Description and Short Text: Furniture and Fixtures
Account determination: MML30000 (Select from drop down)
Screen layout rule: MML4 (Select from drop down)
Number range: 04
Select include asset check box under Inventory data
Select No AUC or summary management of AUC radio button
Save
We receive a message below
Step 5) Select next entry button
in the same screenGive Asset Class: MML3100
Description and Short Text: Vehicles and Others
Account determination: MML31000 (Select from drop down)
Screen layout rule: MML5 (Select from drop down)
Number range: 05
Select include asset check box under Inventory data
Select No AUC or summary management of AUC radio button
Save
We receive a message below
Step 6) Select next entry button
in the same screenGive Asset Class: MML4000
Description and Short Text: Capital Work In Progress
Account determination: MML40000 (Select from drop down)
Screen layout rule: MML6 (Select from drop down)
Number range: 06
Select include asset check box under Inventory data
Select Line item settlement radio button
Save
We receive a message below