Set up asset accounting

Owned by Peter Schöll
Last updated: Okt. 23, 2024
4 min read

After going through the setup wizard, your asset accounting is already fully set up and preconfigured for the selected chart of accounts if you have selected one of the standard charts of accounts.
You can make further adjustments in the master data.

Setting up and editing asset accounting

You can view or change the basic settings for your asset accounting under Organization > Master data > Assets .
Under Set up asset accounting, you will find basic settings for the behavior and for storing default values

The control elements are divided into several groups. The meaning of the individual controls is explained below.
Data such as account numbers are based on SKR03.

 

General

  • Always generate individual postings
    Normally, the postings generated in the depreciation run are summarized as far as possible.
    This means that if there are several postings from the same account to the same contra account, only one posting is made for the total amount. If dimension accounts are also used, they form the lowest common denominator. By activating the checkbox, a single posting is always created for each asset.

  • Rounding mode
    The calculated depreciation amounts for a fixed asset can be rounded. Rounding down increases the depreciation amount, rounding up reduces it. This rounding takes place at the end of a financial year.

  • Update asset accounting to
    The course of depreciation is also calculated for future financial years and displayed in the preview of the asset card. The value in this field determines the end date of the calculation.

  • Default memo value
    This amount is used to preset the memo value of the fixed assets when they are entered. It can be changed individually for each asset.

  • Special depreciation max. percentage
    Here you can enter the maximum possible percentage of special depreciation.

  • Specialdepreciation term
    The longest term for special depreciation is entered here.

  • Asset disposal Gain residual book value, Asset disposal Loss residual book value

  • Asset account GWG pool
    The balance sheet account for the GWG pool is entered in this field. When using SKR03, this is account 0485 (SKR04: 0675) by default.

  • Depreciation of the GWG pool
    The expense account for posting the depreciation of the GWG pool is specified in this field. When using SKR03, this is account 4862 (SKR04: 6262) in the standard system.

Fixed asset schedule

This group contains the settings for creating the fixed asset movement schedule. Normally, the fixed asset movement schedule is the same as the fixed assets shown in the balance sheet.
Therefore, the statement of changes in fixed assets is also generated in the standard system from the report item of the "Balance sheet" work report .
If you are using an individual or overly customized chart of accounts, you should initially check this work report and its account assignment.

 

 

 

 

 

 

Imputed depreciation

The settings for imputed depreciation can be made in this group. In addition to the activation of imputed depreciation, these are the fields in which the account and contra account for imputed depreciation are stored.

Information on the calculation

Asset Accounting supports three different methods for calculating values (section: Calculations based on).

  • Version 1 calculates on an annual basis, i.e. the depreciation shown monthly can deviate from the expected value; this difference is balanced out with the last posting period of the financial year. This version has not been actively supported for some time. Customers are strongly recommended to upgrade to a current version.

  • The improved version 2 calculates on a monthly basis. At the end of a posting period, only rounding differences and a desired rounding up or down to a full amount will occur. This version is the standard for instances up to 2023.

  • The current version 3 calculates like version 2, contains improvements for special asset transactions, bug fixes compared to version 2 and is the standard for new instances from mid-2023.

The current version of the depreciation run should be set to the current version 2017.

 

Instructions on how to update the version of Asset Accounting.

Recalculation

You have the option of recalculating all fixed assets. All values for which a data update is permitted are recalculated (see below).
A recalculation is always carried out when the calculation method is changed, as the calculation algorithm changes. A recalculation can change the values (statement of changes in fixed assets) of the updated periods accordingly.
The recalculation cannot be reset!

Limit data update

You can only make changes to fixed assets for the year displayed (and later). The entry is a protective mechanism against unintentional changes.
The system also checks whether the corresponding financial year is open or closed in financial year management.