Low Value Assets master records

I need to have a solution for my issue.
We want to manage certain assets which are having minor value and the same needs to be depreciated in the same year.
For this purpose, I am thinking about the Low Value Assets functionality.  When I go through the help, I find that :
"In contrast to fixed assets of greater value, low value assets (LVAs) are completely depreciated in the year in which they are acquired. Therefore, you do not usually need an individual assessment of their values. Since they individually have little value, they are often managed collectively as a single asset master record.."
It says we need to have only one single asset master record.  My doubt is then how we can represent different assets ?  viz. I have one calculator, briefcase, mobile phone, buzzer clock, paper cutter, etc.  How can I represent each of these in the Low Value Asset single master record ?

Hey,
Most of the companies create separate assets for LVA. When help says create one asset, they keep in mind that we
want to 100% complaint and have all assets in SAP and so we create assets for value at even min. In countires like US
any amount less than $500 can be writen-off. Large number of assets mean high performance. Hence they say one asset for LVA. You can ignore this statement at help and create separate assets for LVA.
Hope this helps you.
Regards
harikishan Kolli (Kishan)

Similar Messages

  • Error in Asset Master Creation for Low Value assets

    Hi,
    I am trying to create an asset under the asset class Low value asset. while saving the asset the system delivers the following Error:
    01 Book depreciation
    E614 Low value asset max.amount exceeded. No posting allowed
    02 Special tax depreciation for APC in fin.statement
    E614 Low value asset max.amount exceeded. No posting allowed
    I am using the standard Depreciation Key "GWG"  But when i change the depreciation key the system allows me to save the asset. Please guide me how to fix this and why system is giving this error.
    Regards,

    I suppose you need to check your configuration of Low Value Assets for each
    depreciation area.
    But before that, please tell me which class of Assets you are using ......Is
    it the *LVA Class 5000 ( individual management )* or* 5001 ( collective
    management)*. Either way, you need to assign a maximum value / maximum value
    over quantity, as the case may be. Unless and until you furnish a value cap,
    the asset class does not permit you to create asset master records.
    Please look into your IMG under the path:
    *IMG -> Financial Accounting -> Asset Accounting -> Valuation ->Amount
    Specifications(Company Code / Depreciation Area) ->
    Specify Maximum Amount for LVA + Asset Classes*
    You would see two activities listed.
    Under *Activity 1*, you need to select and assign value check (*represented
    by number 1*) if you are using *LVA Class 5000* ; alternatively, you need
    to select and assign Check Maximum Amount with Quantity (*represented by
    number 2*) if you are using *LVA class 5001*.
    You need to do this for each depreciation area you wish to apply this value
    cap to and save (using the floppy icon and look out for the confirmatory
    message at the bottom left of your screen).
    Under *Activity 2,* You need to furnish a value cap ( a ceiling in monetary
    units, currency-specifically) for each depreciation area ( a column for
    document value and another for Purchase order value ( possibly to
    accommodate any tax, as applicable). Please make sure that you do it for
    your company code and for each depreciation area wherein you want to control
    using a value cap.
    Save and look for the confirmatory message at the bottom left of the screen.
    Regards,
    Bharti

  • While creating PO for Low value assets error

    Hi Seniors,
    When user creating PO for low value assets ,system throwing error as
    u201CMaximum Low value amount exceeded in the case of at least one asset .u201D
    Details about this issue:
    1.User creating ONE  PO  for 8 assets as 8 line items, each line item
    value below 5,000 only.
    2.In this year only they created 8 new asset master records with ref to
    Particular asset class(below 5,000) asset class.
    3.Non Taxable item P0 (p zero).
    Checked:
    1. checked at AW01N, no values in  each asset.
    In configuration:
    2. at OAYK   Specify amount for Low value assets,
       Value is 5,000 rs
    3. at OAY2  selected option is u201CCheck maximum amount with qtyu201D
    I created POu2019S  for below 2 options
    1   Value based maximum amount check
    2   Check maximum amount with quantity
    But same error.
    Note:
    In development server i created  some POu2019s  like user creating in
    Production server but no error  in Dev server,
    Plz guide me.
    Thanks in advance

    Hi,
    I think you are using a single asset master record in all your line items in the PO.
    If you use individual asset master record for each line item in the PO, you issue might solve.
    Post again for further queries.
    Thanks,
    Srinu.

  • Configuration of Low value assets

    Dear All,
       I have created a seperate asset class for low value assets. Assigned value based  maximum amount  check in  depriciation area and maximum limit in asset class for low value asstes.
      Stlii, when I am creating asset through AS01  for low value asset class, it s creating assets for greater values also.
      Kindly suggest
    Swati

    Hi Swati,
    By Low value Assets it is meant that if the Value of the Asset at the time of F-90 is equal to or less than the amount specified in configuration, provided the corresponding LVA indicator is set in the asset class.
    If the amount that you are trying to capitalize is more than the amount specified.. system will stop you in F-90. It does not stop you from creating an Asset Master record, because while creating a master record we do not have values of the Asset.
    Regards,
    SAPFICO

  • Screen Layout Field in the Asset Master Record

    What is the use of the screen in the asset master record, ANLA-FELEI?
    We have some assets where there are different values between this screen layout and the screen layout defined at the asset class (i.e. through configuration).
    It seems the one defined within the asset class takes precedence.

    HI
    Scree Layout controls the diplay of fields, it may not be necessary for a user to use all the fileds provided by SAP. Hence the options like Required, Optional and Suppress are used to control the screen diplay and the TABs to be displayed based on the need.
    Asses within the same class will have same fields since the screen layout are assigned to an Asset class.
    Scree layout for the Tab Depreciation Area can also be controlled with the screen layout defied for the Depreciation Area.  With this one can have different screen layouts per dep. area.
    Hope i'm clear to  you.
    Thanks,
    Vijay

  • Flow of Data to Asset Master Record

    Hi,
    I created a Asset Master record. In 'Origin' Tab in asset master record, there is a space for writing Vendor NAme, MAnufacturer, Acquisition Year, Original Value, etc.
    After i create Purchase Order or acquire asset through F-92, i noticed that vendor name, value, etc does not flow to the Asset Master Record.
    Please let me now how the data will flow to asset master record ?
    Am i missing any entry

    Dear Deepak,
    please check the Tcode AW01N , this for asset explorer.
    In this screen if you select Purchase Order in Object related to Asset tab from the left side of the screen , you will get all vendor details for particular asset.
    You can able to see the Migo details also......
    If you have any doubt plz let us know.......
    Regards,
    Pavan.

  • Business area default in asset master record

    Dear all
    Here is one ticket pertains to asset
    when i create asset master record business area will be defaulted
    the problem is when i upload asset master record through LSMW
    by different business area the system throws a error message BUSINESS AREA EXISTS WHICH CANT BE REPLACED THROUGH LSMW
    This is happening for all the asset classes
    so i want to remove that default business area from where should i remove that which t-code or menu path
    regards ravindra kumar

    Dear ravinagh
    removing of business area in asset master record is always possible but
    see when u  r uploading bulk asset master records through LSMW we cant replace the business area  as it is already defaulted in asset master record
    means some where we have assigned  the default values to the asset classes or some other master record
    so we have to find out the source of the defualt business area for asset master record
    when we remove this from the asset classes then the business area will not be defaulted so that we can upload assets from LSMW with different business area
    so please try to find out the source....................
    regards
    ravindra kumar

  • Warning massage while saving the asset master record

    Hi all,
    I have a problem while saving the asset master record.My client manages the group asset in the depreciation area 15 for tax reporting.What I have done in the configuration that, I have created a separate asset class for group asset and marked this asset for entirely consisting of group assets.Then I have createdall  the grpup assets in this marked class.For example, supppose I have created one group asset class 50000 and I have created all the group assets in this class.Then I assign the gr.asset no. in the master record of the normal assets and while saving the master record I am getting the warning massage as the account determination is different than the asset.It may't be possible to reconcile them from the FI-AA.But if I am creating the group assets in the class of the normal assets such type of error massage doesn't appear.Also while retiring the normal assets the asseet is not being deactivated automatically and instead a warning massage is coming the asset is still having value in the depreciation area 15 and can't be deactivated.Can any body suggest where I have gone wrong in the configuration?
    Debabrata Das

    Update delays sometimes mean that there is a queue waiting at the UPD task.  Go to SM51 and check to make sure that there are no other tasks waiting to be processed.  Check with you Basis group - they might be able to run some diagnostics on the update task.

  • Urgent! How to change Asset Class in Asset Master Record

    EMERGENCY CALL!!!
    Hello,
    My customer has created asset with wrong asset class.
    Is there any chance to change asset class in master record, and if not please explain how to delete existing one and create new asset with right asset class.
    Note: the values are already posted to this asset
    Regards
    Amina

    1. Asset class cannot be changed anymore in asset master record.
    2. You cannot delete an asset which is already posted
    Solution for your problem:
    1. Create new asset with the right asset class.
    2. Do transfer asset using t-code : ABUMN from old asset (wrong asset class) to the new one (right asset class).
    Hope it helps

  • Low value asset history

    hi,
    pls tell me about the 'what is meant by low value asset&configuration setting

    Low Value Asset means Asset which have a little value.
    In General, LVA are fully depreciated in the year of purchased or in the period of the acquisition.
    This can be achieved (the configuration setting) by using the special depreciation key = GWG and the expected useful life of one month (period) .
    GWG is SAP standard Depreciation key. So you do not need to configure anything.
    You can use the depreciation key directly in your asset master data.
    You also can set the maximum amount for the value asset (this is optional configuration) using :
    IMG -> Financial Accounting -> Asset Accounting -> Valuation -> Amount
    Specifications (Company Code/Depreciation Area) -> Specify Max. Amount
    +for Low-Value Assets + Asset Classes+
    Hope you get clear with the LVA now.

  • About Create Asset Master Record

    hi expert,
    when use the tcode as01 to create an asset master record.
    there is a location filed and the location relative to an address number .
    my concerns that how can we maitian the address number or do we just pick
    one from the table adrc?
    thanks in advance

    Hi,
    Check whether the asset class is locked in for your depreciation area in T Code AM05.  If so, remove the lock.
    Regards,
    A.Saravanan.

  • Equipment master record updation in Asset master record

    Dear Friends,
    I have a query with regard to Equipment master record updation in asset master record. Here we have created equipment in Plant maintenance module and we have created asset in AS01 tcode. When we give the asset number to PM module guys, they can easily update the asset number in their equipment master by changing the equipment master record.
    But when we enter the same in asset master record in 3rd tab allocations tab, initially it is accepting the equipment details like equipment number, category, object and tech description, but the same is not available after saving.
    Please let me know whether I have to do any customization in asset settings inorder to get the equipment number populated in asset master record.
    Thanks,
    Dwarak.

    Hi,
    Thanks a lot for your reply.
    I did both these customization, but still it is not working. Any other customization to be done? Please let me know.
    And also in asset master record in allocations tab, do we need to select sync and workflow checkbox?
    Thanks
    Dwarak.

  • Error in Asset Master record creation

    I have created one asset class 1001 for land and 3001 for Vehicles by myself (i.e. without reference)
    I have filled all account determination, screenlayout, etc.
    When i create asset master record for LAND, i enter asset class 1001 (for land) & it accepts.
    But when i create asset master record for Vehicle, i enter asset class 3001 (for vehicle). But it throws error.
    Error shown is:
    Chart of depreciation IN00 that was determined is not entered for asset class 3001.
    _How to rectify the problem ?_
    Help with Tcode or menu path.
    Further to rectify,
    I am trying to Specify Chart-of-Dep.-Dependent Screen Layout/Acct Assignment (Tcode: ANK1)
    But error shown is:
    Chart-of-depreciation-dependent assignment to asset class not possible
    (Message no. AC012)

    I am trying to Specify Chart-of-Dep.-Dependent Screen Layout/Acct Assignment (Tcode: ANK1)
    But error shown is:
    Chart-of-depreciation-dependent assignment to asset class not possible
    (Message no. AC012)
    Solution given is:
    In order to be able to assign chart-of-depreciation-dependent data to asset class 1001, the following conditions have to be met. You have to have already
    1. Defined at least two active charts of depreciation
    2. Assigned asset class 1001 to more than one chart of depreciation
    However, at the moment this asset class is only assigned to chart of depreciation 1.
    I m unable to understand the solution
    Edited by: Deepak Agrawal on Mar 19, 2009 8:06 PM

  • Error occurs during Asset Master Record Creation.

    Hello SAP Gurus,
    The error occurs during asset master record creation.
    Our fiscal year variant is Z6 (July to June). The asset was acquired in June 15 (previous fiscal year) but was only set up on July 30 (this fiscal year) . When we put the depreciation start date as 15 June the error appeared. While saving the Asset master we are getting below error.
    We tried the same with Post Capitalization of Asset (ABNAN) there also we are getting same error.
    ERROR: - as below
    u2003
    SYST: *You cannot determine the period for rule 02 to 05.08.08 ( todayu2019s date )*
    *Message no. AA613*
    *Diagnosis*The system could not determine a depreciation period on 05.08.08 for period control 02 of the period control method of phase N1 of depreciation key INTERN-00001-0000.
    Procedure
    Maintain the assignment of the periods for the period control entered.
    Proceed
    If the period control you entered is a standard period control, you can assign the periods automatically.Proceed
    Please find enclosed attachment for clear description of the error.
    Please share your experiences regarding this subject.
    Thanking you in anticipation.
    Regards,
    Suresh.
    09986375966

    Hi,
    have you generated the period controls properly? If not, the error is raised correctly by the system.
    To generate period controls go to:
    IMG Asset Accounting -> Depreciation -> Valuation Methods -> Period Control -> Generate Period Controls    / or you can use OA84
    Regards,
    Markus

  • Low value asset error at the time of goods receipt (MIGO)

    Hi
    I am testing the FI MM integration - Asset acquisition through PO.
    I created a PR and a PO for Laptop @ rs. 200000
    At the time of posting goods receipt I am getting the following error:
    Total value per quantity should be more than 5000 in this class
    Message no. ZFIAAMSG005
    I checked the Low value setting in the asset class- it is NO maximum value check
    Can anyone pl. help in this?
    Thank you
    Vedavatee.

    Hi:
             It looks like to me if there is validation working in background . Please check in GGB4  there will validation active for this asset class . Low value asset check restricts you from posting an amount as specified in OAYK. Please check.
    Br

Maybe you are looking for