FI/CO Asset Class

[Former Member]

Hi

What is Asset Class in MM Integration & What is the difference between Asset Class and Valuation Class?

[Former Member]

In addition to the above posts, please remember the distinction that "asset class" is from the "asset accounting" module -- which is a subledger to the GL.

When creating purchase orders new assets can be created automatically. The asset class will default based on the material that is being purchased. The materials are tied to material groups which in turn are tied to a specific asset class.

When purchasing assets, an account assignment of "A" is used thereby enabling the creation of the asset master record directly from the PO.

[Former Member]

HI

Asset class is nothing but grouping of different asset but similar in their characteristics

valuation class is nothing but grouping of different materials with similar characteristics and valuation class with transaction event key updates the g/l accounts

rgds

sree

[sridevi_p]

Hi,

Asset & MM Integration -

It shows the following activities: purchase requisition, purchase order, goods receipt, invoice receipt, and creation of an asset.

The steps are: creation of a purchase requisition, creation of an asset master record

<b>Creation of the purchase order:</b> Using account assignment type A (A=asset) you can enter an asset master record when creating the purchase order. It is not possible yet to create an asset master record directly when you use purchase order transaction ME21N. However, it is still possible using the "old" purchase order transaction ME21.

<b>&#61472;Goods receipt</b>: When you enter the purchase order, you determine whether the asset is posted directly to Asset Accounting, and thereby capitalized, when the goods receipt is posted (valuated good receipt), or whether capitalization does not take place until the invoice receipt is posted (non-valuated goods receipt). The first option would be used when the goods receipt takes place before the invoice receipt. When the invoice is received later, there may be differences between the invoice amount

and the amount posted at the time of the goods receipt. In this case, adjustment postings are made to the asset. No corrections are necessary for an non-valuated good receipt, since the asset was not yet capitalized. However, the system uses the date of the goods receipt as the capitalization date.

<b>&#61472;Invoice receipt</b>: If the goods receipt was non-valuated, the asset is capitalized, line items are created and the value fields are updated.

Regards,

Sridevi

<b><i>* Pls. assign points, if useful</i></b>

[Former Member]

Hello

A system object used to group assets of similar kinds (such as buildings or machinery), primarily for the purposes of account determination.

Asset classes are the most important means of structuring fixed assets. You can define an unlimited number of asset classes in the system. You use the asset classes to structure your assets according to the requirements of your enterprise. Asset classes apply in all company codes

The asset class provides default values to all asset master records in the class. In this way, the asset class functions as a sample master record, and makes it possible to create new asset master records simply and without errors

The screen layout, tab layout and the field characteristics (required/optional/suppressed) of the asset master record can be set for the asset class.

The assignment of asset numbers can be controlled by the asset class.

The asset class is a selection criteria in all standard reports in Asset Accounting

One of the most important functions of the asset class is to establish the connection between the asset master records and the corresponding accounts in the general ledger in Financial Accounting.

Valuation Class

You group together different materials with similar properties into valuation classes so that you do not have to manage a separate stock account for every material

Example

3001

Colors

3002

Paints

3030

Operating supplies

3100

Trading goods

Which valuation class a material can be assigned to depends on the material type. You can define the following assignments in Customizing:

All materials with the same material type are assigned to just one valuation class.

Different materials with the same material type are assigned to different valuation classes.

Materials with different material types are assigned to a single valuation class.

A material is assigned to a valuation class in the material master record. The system checks whether the material type allows the material to be assigned to the valuation class specified.

The system refers to the valuation class of a material to determine which stock account to post to when a posting is made for this material.

Reg

*Assign points if useful

[sridevi_p]

Hi,

In MM integration, Asset class is linked to Material group of MM.

Valuation class is means of classifying materials as Raw materials, Finished goods etc.

Regards,

Sridevi

<i>* Pls. assign points, if useful</i>

[Former Member]

hi

Asset class is nothing but particular group of assets are considered as of one class for e.g.: furniture and fittings, various assets related to furniture are considered into one class and coming to valuation class it is also similar to asset class all one type of material will be considered into one class.for e.g. raw material, semi finished goods and finished goods

[Former Member]

Asset class: Different assets with similar properties are grouped under one asset class.

Valuation class: Different material with similar properties are grouped under one valuation class so that singal stock account can be maintained.