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Asset Sale

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HAi Gurus

Can any one explain me asset sale process along with entries.

Balaji

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2 Answers

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    Former Member
    Oct 16, 2008 at 11:31 AM

    Hai

    Asset process is followed as below:-

    Sale of assets thru SD

    1) First Asset Retirement W/O Customer must be done(ABAON)

    Sale of Asset A/C Dr (Sale Value Of Asset)

    Dep Reserve A/C Dr (Accumulated Dep)

    Loss On Sale Of Asset A/C Dr(If Loss)

    To Profit On Sale Of Asset A/C(If Profit)

    To Asset A/C (Acquisition Value)

    2) Create asset as Material taking the material type as Non Valuated

    3) Create a sales Order

    4) Billing

    Customer A/C Dr

    To Sale Of Asset A/C (This is Knocking of W/R to First Entry)

    To Cenvat Suspense A/C(BED)

    To Cenvat Suspense A/C(CESS)

    To Cenvat Suspense A/C (SECESS)

    To VAT Or CST A/C

    5) Excise

    Cenvat Suspense A/C Dr

    ED Payable A/C Cr

    Cess Payable A/C Cr

    SHECess Payable A/C Cr

    If asset is sodl thru direct fi f-92

    If Sale of Asset is Direct FI Entry

    Customer A/C Dr

    Dep Reserve A/C Dr

    Sale Of Asset A/C Dr

    Loss On Sale Of Asset A/C (If Loss)

    To Profit on Sale Of Asset (If Profit)

    To Sale Of Asset A/C

    To VAT Collection A/C

    To Asset A/C (Cr with asset acq.val)

    Regards

    Raghvendra.M

    SAP-Practice

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    Former Member
    Oct 16, 2008 at 11:46 AM

    using tcode f-92 we can sellthe asset. in this case pky 01 (Dr)

    select the customer name. Pky50 (cr) select the revenue account. And select the asset retirement check box onthe screen and give the transcation type 210

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