Asset Scrap & posting.

I have the following scenerio.
on 15 April our one asset dameged with the value of 1000 USD & the same amount covered by Insurance company. we also executed the depercition for the period of may, june also.
our accountanted made the entry for  income received from Insurance company. Bank Dr & other In come Credit.
now the auditor made objection  & want decrease the value of asset,also three period depericition .other income must also decrease
he want entry should be.
other Income  dr 1000
Asset Credt   1000
also
Accumalted deperction  debit  20
depercition expense credit      20

do partial retirement to teh extent of 1000 usd and then run depreciation.
The difference in depreciation is posted in the current period.

Similar Messages

  • Asset sale w/o customer & Asset Scrapping

    Hi All,
    In a scenario,an Asset having a APC value 1000 USD and which has been depreciated  by 200 USD til now .
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    Asset APC Cr 1000
    Acc Dep dr 200
    Clearing Account P&L dr 800
    In case of Asset scrapping,
    Asset APC Cr 1000
    Acc Dep Dr 200
    Asset Scaping P&L dr 800
    In both cases the P&L account is debited. So how the 1st transaction is different from the second one, from accounting prospective?
    Regards
    Rudra

    Hi Rudra
    Are you talking about Asset Sale without customer?
    This is used when there is a Cash Sale.. The clearing account is later on cleared and you can post it to Cash Account
    Asset Scrapping is a pure loss where you dont get anything out of sale
    Br. Ajay M

  • Asset Scrapping

    Hi Guys,
    I have an issue  in asset scrapping thru tcode ABAVN version ECC6.0 in QA client- when I scrapped the asset system generated the accounting document
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    APC:1,000
    Asset is acquired in April,2010,
    CR(75 posting key).-APC value account(cost of asset) $1000
    DR.(40 posting key)-Loss from scrap asset                   $1000
    We are using half year convention so first year depreciation value is $50.As per our  fixed asset guy who is usin legacy system FAS,( we are  in process of migrating our FA in sap), the entries should be
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    DR.(40 posting key)-Loss from scrap asset                    $950
    DR(70 posting key)- Accum Dep a/c                                $50
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    Regards
    Shaun

    Hi,
    Take a look at the period control  Tcode AFAMP of the depreciation key been used. If the retirmnet period control is set for start of year 06 normaly it will take the value available from start of year and reverse out the depreciation posted in next run.
    Thanks
    Vaibhav

  • Error during Asset Scrapping using ABAVN - plz advise

    Dear all,
    Facing an error during asset scrapping using ABAVN for a Korean company code.
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    Error occurs on Simulation - Transaction in area 40 contradicts the net book value rule
    NBV in area 01 Book Dep -  108,612,225 KRW
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    This error usually occurs when you enter proportional values. The proportional values exceed the amount posted, for example, post capitalization of 100 but proportional depreciation to the amount 110. Check your entries and correct them if necessary.
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    Cheers
    RK

    Kindly read the forum rules and then post.
    SMS Language is strictly not allowed.

  • Asset Transfer posting ABT1N

    hI,
    while working with transaction ABT1N Asset transfer posting from existing (comp code) asset to new (comp code) asset with
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    system gives error message" You cannot post to asset in company code 'abcd' fiscal year 2011.
    After that
    I changed the Document, posting, asset value date -> this will be the same date 20.11.2011, system gives error message "
    Account 20900000 does not exist in company code 'abcd'.
    Please resolve the issue both the scenarios.
    Thanks,
    Sahara.

    please search.  the "account does not exist" error has been dealt with previously.

  • Any SAP standard report on Asset scrap values?

    Dear All,
    Do you know of any Standard SAP report for asset scrap values? A customer needs to have the scrap values reported and would like the same in summary (asset class level) and detail (individual asset level).
    Help appreciated.
    Thanks and Regards,
    Sameer Aroskar

    Hi Sameer,
    I am sending you the list of all standard reports in SAP for Asset accounting
    Menu Path                                                                  Report
    Asset Balances -> Balance Lists -> Asset                       Balance List
    Balances
    Asset Balances -> Inventory Lists -> Physical                  Inventory List
    Inventory List
    Notes to Financial Statements -> International                 Asset History Sheet
    Explanations for P&L -> International                              Total Depreciation, Ordinary Depreciation,
                                                                                    Special Depreciation, Unplanned Depreciation,
                                                                                    Transfer of Reserves
    DepreciationExplanations for P&L -> International            Write-Ups, Depreciation Comparison, Manual
                                                                                    Depreciation
    Cost Accounting                                                         Depreciation and Interest
    Depreciation Forecast                                                   Depreciation on Capitalized Assets (Depreciation
                                                                                    Simulation)
    Preparations for Closing -> International                         Gain for Transfer of Reserves, Changes to Asset
                                                                                    Master Records
    Day-to-Day Activities -> International                             Asset Transactions, Asset Acquisitions, Asset
                                                                                    Retirements, Intracompany Asset Transfers,
                                                                                    Directory of Unposted Assets , List of Origins Of                                                                              Asset Debits, List of origin of cost elements
    I Hope this will help.
    Award points if of any use.

  • Asset explorer- Asset not posted to APC transactions

    Hello,
    In AW01, asset explorer screen,  in the planned values display tab , an asset has directly been posted from MM as goods issue.
    However the Amount say Rs.10000 and its ordinary depreciation say 500 is not getting added to the APC transactions in the above tab of plannned values book depreciation.
    So the APC transactions amount say 50000 and its corresponding planned depr say 2000 is excluding the previous mentioned asset values capitalised (Rs.10000 and Rs.500)
    As a result the related asset reporting shows incorrect asset balances.
    I would like to know why the asset already capitalised does not get reflected in the total value of the APC transactions ?
    Pls help.
    Regards.

    Hi,
    are you sure that the asset was posted from MM as goods issue? Not goods receipt from PO? Did you make the asset, or did you buy the asset?
    OK, if you bought the asset, here is a suggestion you might want to look into.
    Have the invoice verification been done to the PO? Usually, the APC value will be posted when there is a posting to the FI for the asset. And the ordinary depreciation will not be posted automatically. For Rs 500 depreciation, you need to do write-ups to adjust your asset balance.
    Hope this helps.

  • Plant and Cost Center are not displaying in FI doc. for asset scrap ABAVN.

    Hi All,
    When we do asset retirement by Scraping using Transaction Code ABAVN, Plant and Cost center are not appearing in the FI document. But, in the master data the Plant and Cost center are assigned for the particular Asset. 
    When I see the FI document display, the fields Cost Center and Plant are blank.  Business Area and Profit Center fields are getting updated.
    Can any one help me how to get this Plant and Cost Center in the posted document.  Is there any OSS notes for this.  I am using ECC 6.0 version.
    Thanks in advance for your help.
    Regards,
    Rajesh

    Rajesh
    Aditional on me answer.
    The systemtakes not the cost center from the asset you have to assign it in OKB9 or to fill in during this posting:
    Steps
    Click on Simulate, than you see the posting screen:
    Click on the line (pk 40)
    Click on Goto and Additional account assignment and fill in the cost center whatu2019s in the master record of the asset and post
    An other option is to make a substitution to get this information

  • Can we close Fiscal Year for Assets without posting Depreciation?

    Hi All,
    My client has 11 Company Codes. During the year end activity, I closed the FY of Assets for 10 Co. codes (T.code AJAB) and 1 is pending as depreciation is not posted for some assets yet. The client wants me to close the FY for assets without posting the depreciation.
    Can anyone guide me on following doubts:
    1. Is it possible to Close FY for assets without posting depn?
    2. If YES, then what can be the adverse consequences of it?
    3. If NO, then what is the alternative reply I can give to my client?
    I hope the above info. is sufficient.
    Regards
    Amarendra

    Hi All,
    Finally I got the solution. I had to do some off track adjustment which might not be allowed otherwise. After getting that confirmation from the client that:
    1. They want to post zero values towards Depreciation for the year 2007              &
    2. After closing the year, later on there wont be any adjustments for the closed FY 2007
    When client gave me above confirmation i did following steps:
    1.Note down the Current Depreciation Key of the asset
    2.Change the current depreciation key to u201C0000 - No depreciation and no interestu201D (TC: AS02)
    3.Close the fiscal year 2007 (TC: AJAB)
    4.Change the u201COrdinary Depreciation Startu201D date to 01.04.2008 for ALL the Depreciation Areas of that asset (AS02)
    5. Restore the Depreciation Keys of the assets as per the step 1 (TC: AS02)
    6.Open New Fiscal Year 2009 (TC: AJRW)
    So now the depreciation will be calculated from 01.04.2008 and no values are posted towards depreciation for the year 2007.
    Off course in the normal course of time above solutions are useful.
    Regards,
    Amarendra

  • REM MFBF Scrap posting not reflecting in MD04

    Hi All,
    If I am doing yield posting from MFBF i can see reduced quantity in MD04.
    If I am doing scrap posting from MFBF quantity is not getting reduced from MD04.
    how can i achieve it via ABAP coding. pleae help with any exit or sample code.
    Thanks,
    Chinna

    Hello Chinna,
    Please refer below thread for your issue
    Scrap rate is set in bom but can't be consumed in REM
    I hope this information helpful to you
    Regards
    Umesh Mali
    Message was edited by: Caetano Almeida

  • Asset Depreciation Posting Question

    Hi Experts,
    Do you know a solution to carry-over the License value (ANLZ-KFZKZ) to Reference Key 3 (BSEG-XREF3) of Accounting Document created for Asset Dep Posting?
    I already tried Subsitution in GGB1 but it does not permit to create steps for this kind of scenario. If there are user-exits you know please advise me.
    Thanks a lot!

    Hi Cecilio ,
    I'm sorry, it's not possible to fill manually the fields BSEG-XREF 1 - 3,
    regards Bernhard

  • Scrap posting in CO11N

    Dear all,
    This is a requirement regarding scrap posting in CO11N.
    When some qty is entered in scrap field , the qty shd be moved/posted to with a scrap matl code to a scrap storage location through 531 movmt type.
    Which user exit wil be suitable for this application?
    pls suggest.
    Regards,
    Sheik

    Hi,
    Check with your abaper which of the below can meet your need.
    User Exit
    CONFPP01  PP order conf.: Determine customer specific default values
    CONFPP02  PP order conf.: Customer specific input checks 1
    CONFPP03  PP order conf.: Cust. specific check after op. selection
    CONFPP04  PP order conf.: Customer specific input checks 2
    CONFPP05  PP order conf.: Customer specific enhancements when saving
    CONFPP06  PP Order Confirmations: Actual Data Transfer
    BADi
    WORKORDER_CONFIRM
    WORKORDER_GOODSMVT
    Regards,
    Vivek

  • Asset Scrap Entries

    Hai
    Can Any one explain me asset scrap entries and hw the settings for WDV and Straightline method Depreciation Seetings Takes place
    Regards
    Raghav

    when you scrap an asset, the following entry would be applicable:
    Accummulated Depreciation Dr.
    Loss on scrapping                Dr.
    Asset Account                    Cr.
    Net book value is nothing but the asset value minus accummulated depreciation.

  • Asset Scrapping - Calculating Depreciation for entire year

    Hi guys
    We want to scrap an asset without revenue using ABAVN.
    Asset Details:
    The asset will be completely depreciated by the end of this year (December)
    We have smoothing indicator on.
    We wish to post the retirement and close out the asset balances in this month itself.
    (No depreciation should be pending for the remaining periods of the year)
    When we post the retirement transaction in test environment, it still shows the planned depreciation for the entire year.
    How do we avoid the planned depreciation posting for future periods ?
    Thanks!
    Gautam

    Perhaps, the following might be a solution that can be implemented safely in a production setup:
    Objective: To post retirement related depreciation in a single period without smoothing over the remaining periods.
    Solution:
    Perform standard depreciation posting run for current period
    Turn Smoothing Indicator Off
    Write Off Asset
    Run Repeat Depreciation Posting Run (select Repeat Posting Run instead of planned and also input the retired asset number)
    Turn Smoothing Indicator back on
    This should post the complete depreciation in the current period for the retired asset and smooth out the depreciation for all remaining assets

  • BAPI for Asset scrapping

    Hello,
    I have implemented the BAPI BAPI_ASSET_RETIREMENT_POST for background scrapping. Everithin OK for an asset with a subnumber. The problem is that I have to scrap an asset with multiple subnumbers. initially, I was running the BAPI for each subnumber, but I realised that I am creating an FI document for each posting, which is not good.
    Can I scrap multiple subnumbers with this BAPI?
    Thank you !

    BAPI_ASSET_ACQUISITION_POST
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    BAPI_CMS_AST_GETDETAIL_MULTI
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    BAPI_FIXEDASSET_GETLIST
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