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SAP Financial Assets and Liabilities

SAP Financial Assets and Liabilities has periodic processing contains these tasks in Asset Accounting which should be carried out at periodic intervals. Additionally included are tasks to be carried out as a half of the particular valuation of mounted belongings (for instance, calculating alternative values).Alternative values and insurable values are up to date within the system with the assistance of index series.Investment support is a subsidy that a company has received for sure asset investments. Belongings that are eligible for such a subsidy are marked in the asset grasp information with an investment help key. All specs for claiming the investment assist are stored in the definition of this key.

You possibly can publish the declare manually or in a mass procedure.At current only the values of one depreciation area might be automatically posted on-line in Financial Accounting: Therefore, the modifications to asset values (transactions) from other areas with automated posting have to be posted periodically to the appropriate reconciliation accounts.If you want to plan major prices on a value heart basis, you'll be able to periodically determine planned depreciation and curiosity and go these on to major value planning in Controlling.

The R/3-IM (Investment Administration) component enables you to create orders/WBS elements that automatically have an asset under building attached.During the development phase, you post all business transactions to the order/WBS element. During monthly settlement, all objects that aren't settled on to receivers in controlling (comparable to value facilities) are settled directly to an asset beneath construction. In your month-to-month financial studies, capital funding measures seem under property under construction.Upon last settlement, you agree the asset under construction to the final receivers. You enter these receivers in the settlement guidelines for the order. The asset below construction is cleared routinely at the time of ultimate settlement.

The calculation and planning of depreciation, curiosity and revaluation is controlled by keys within the Asset Accounting system. They will also be entered manually using a special posting transaction. In each circumstances, these planned values in Asset Accounting have to be periodically posted to the corresponding expense and asset stability sheet accounts in the basic ledger.This periodic posting takes place utilizing a batch input session. The posting session additionally posts the totally different depreciation types, curiosity and revaluation, in addition to writing-off and allocating special reserves. The system doesn't create particular person documents, only summarized posting paperwork (per normal ledger account).

The fiscal year change program opens new annual value fields for each asset.The earliest you can start this program is within the final posting interval of the outdated year.It's essential to run the fiscal yr change program to your complete company code so as to find a way to post into the following fiscal year. SAP offers you with a verify report for year-finish closing. It checks:
  1. whether the fiscal year change has been completed for all assets,
  2. whether or not depreciation was absolutely posted,
  3. whether errors exist for any assets.
As well as, if the program finds no errors, it updates the last closed fiscal 12 months for every depreciation area. After execution, posting into the old year is now not allowed.The GR/IR clearing account is maintained in Supplies Administration when the amount of a fabric delivered and the amount invoiced differ and no further receipt is expected.We advocate prospects keep the GR/IR clearing account on a monthly foundation to ensure that buy orders (and due to this fact also related account postings) which would possibly be thought-about by the system as nonetheless being open are matched up in good time with actual events.Closing operations in financial accounting additionally involve analyzing the GR/IR clearing account and making certain that the steadiness is zero (goods delivered, not invoiced/goods invoiced, not delivered:RFWERE00).

Material Price Changes

For bought materials:
  1. When a material is valued at customary worth, it's typically essential to alter the valuation value when there's a giant distinction between the moving common price (which reflects developments in the delivered value of the fabric) and the standard price. The outcome of a valuation run (LIFO, FIFO, Lowest principle) can be the premise of the decision to change the price. You may enter a new worth within the materials master for the actual,previous interval and the end interval of the earlier year.
  2. For materials that are produced in-home, new costs can be generated from Product Price Controlling and transferred to the standard price area within the material master. This is often performed on the finish of the fiscal year, but could also be performed extra incessantly if required.
  3. If stock is in stock, getting into a brand new value in the value area of the material grasp routinely ends in an accounting doc for revaluation of the existing material.
  4. The example above shows the postings which consequence from a rise in price.
Material Valuation

  1. All supplies:The worth of the inventory of a cloth is decided at the finish of the fiscal 12 months based on the strict lowest value principle. When sure conditions are fulfilled, the FIFO- (First in First Out) or LIFO- (Final in First out) method can additionally be used.
  2. In apply, for the sake of simplicity, when periods of less than a year are closed the values of stock accounts are unchanged. Because of this, shares (as are movements) are valuated on the idea of costs (i.e. quantity x normal or shifting common price).
  3. Individual materials: The industrial or tax price calculated for particular person supplies on the finish of the fiscal year can be entered into the appropriate fields in the materials master. The overall difference between the closing tax-primarily based and commercial-based values calculated at the end of the fiscal year and the fee accounting values is normally corrected in summary form by method of a worth adjustment posting via batch input.
  4. An example of a revaluation posting could be as follows: (DR) Expense value adjustment and (CR) inventory worth adjustment
  5. The inventory value adjustment account is assigned to the same stability sheet merchandise as the relevant material stock account.
Lowest Value Estimation

The R/3 System offers two strategies for determining the lowest worth for a stock: market prices and price of motion/vary of coverage. Each methods to find out the lowest worth can be utilized individually (single -degree process) or together (multi-level process).Market prices can be decided by analyzing receipts for purchase orders (goods receipts and invoice receipts). Market costs from buying data data, buy orders and contracts also can be used.Materials which may be slow/non-transferring or that have a long range of protection will be devaluated by a percentage.The outcomes of lowest worth dedication can be utilized for drawing up a stability sheet for both tax and industrial purposes. Material shares will additionally be revaluated.To update the outcomes of lowest value dedication in the materials grasp and to create a batch enter session for revaluating material stocks, you have to run these applications in the background.

Balance Sheet

Stocks must be valuated for balance sheet purposes as accurately as attainable according to the recognition of loss principle. The packages for lowest value willpower and LIFO valuation permit you to do this. Both methods can be combined. Results are recorded in valuation lists and permit the accounting division to make decisions about revaluating materials.The next abbreviations from above are:
  • SV Stock worth
  • LV Inventory worth as per the lowest value precept (qty * tax/commercial value)
Prices calculated by the revaluation applications can either be entered into the price fields of the materials grasp records (an automatic posting of the variations is generated subsequently) or by a manual adjustment posting. In the latter case you do not enter the new value into the price field of the fabric master.

Physical Inventory

The bodily stock procedure represents the test of amount of stocks to be displayed within the balance sheet. SAP's R/3 system supports the next methods:
  1. With the continual stock technique, shares are counted all through the whole fiscal year.Every materials needs to be physically counted at least as quickly as throughout the course of the year.. With the periodic stock technique, all stocks are bodily counted on the steadiness sheet key date. Each material must be counted on this day. During the rely your entire warehouse is blocked from any materials movements.
  2. Cycle counting is a physical inventory methodology which involves materials being counted at common intervals throughout the course of a fiscal year. The interval or cycle in which a material is counted relies on the cycle counting indicator set for the material.
The actual amount counted throughout the course of a bodily inventory is entered in the material grasp as the model new amount for the material. The difference be tween the amount counted and the amount recorded in the system is posted through a program run in Supplies Management.

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