Sale of assets cycle
Dear all,
pl explain the procedure / steps for assets sale step by step .
Regards
Hi Venky,
please check the SAP Help Portal documentation on Fixed Asset Accounting. There is one complete chapter about the topic asset retirement. It´s explained in detail what is scrapping or selling the asset. With/without revenue, Posting of Gain or Loss, etc.
It should answer all your questions in detail.
Regards,
Markus
Similar Messages
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Accumulated depreciation is not posted at the time of sale of asset with r
hi
all
i have created a asset with acquisition date 1.4.2011. i have posted the acquisition value as 20000 inr.
i have executed the depreciation run in AFAB t.code for april2011, may 2011,.. the depreciation is posted. in august i am retiring the asset with revenue in f-92. at this time the accumulated depreciation is not debited . the system is taking the difference between the acquisition value and sale proceeds to loss on sale of asset directly.
pls suggest me what is to be done
thanx in advanceyes, i have assigned the GL account for the accumulated depreciation on the asset in AO90. when i execute the depreciation run the system is posting the entry
depreciation a/c dr
to accumulated depreciation on asset a/c
but at the time of retiring the asset it is not debiting the accumulated depreciation on asset a/c.
any how thanx for Ur reply -
Sale of asset (Output Taxation Issue)
Hi,
While doing Sale of asset through F-92, and inputting Tax Code... The system gives following error despite of all the configs related to L2 has been made in the system:
Tax code L2 country IN does not exist in procedure TAXJFA
Message no. FF713
Diagnosis
You entered a tax code which is not defined for the country of the company code to be posted to in the tax calculation procedure.
System Response
Procedure
Check and, if necessary, correct the entry.
Procedure for System Administration
If it is not an input error, check and possibly change the system settings.
To do this, choose Maintain entries (F5).
Check whether the company code is assigned to the correct country and whether the correct tax calculation procedure has been entered for the company code country.
Create a new tax code if necessary.
Caution:
Since it is possible that the tables in question are being updated at a different time on another computer, it can take a certain amount of time for the tax code to be on all local machines in client server architectures after saving the new code.
KINDLY ASSIST ON THIS ISSUEHi sagar,
follwo the following steps
Spro->Financial Accounting->Financial Accounting Global settings--->Tax on Sales/Purchase,
Now in basic settings first of all check the "Assign country to calculation procedure" if it is correctly define then check in to "specify structure of tax jurisdiction code". These are the only two option due to which problem is creating.
Regards,
SAP.Tactics -
Accd dep is not coming as a line item in Sale of Asset.
Hi Fi Experts,
The issue related to Asset a/cing.
I have configured everything in Asset a/cing, while doing the Sale of Asset (F-92), i suppose to see all the 6 Line items, but i am not getting the Accumulated dep one, cud u pls help me out, whts the mistake i have done or if i have missed any settings..
rgds
Raj.Hi
In Asset Accounting Configuration , Assign GL Accounts-- AO90 , you must assign Accumulated Depreciation A/C for Ordinary Deprecaition and Expense A/C for Ordinary Depreciation.
If you double click on Depreciation you will get these fields which GL Accounts to be entered.
This will solve your problem.
Regards
Venkat -
Mass sale of asset using t code.abaon.
Hi All
Mass sale of asset using t code.abaon
*After there is a difference between area 63 Asset history sheet and the Account balance list which wasn't their prior to this sale. The difference is between summarizing all of the dep. columns and comparing that to the Accumulate Dep. in the same sheet.
Now The EVL assets are Finland specific. They are used to post gaine/loss for sales and scrap in tax area, so they are effected by the sale.
Awaiting for solutionhi
is there any table or program to clear the difference.
plesde let me know
thanks -
Legacy Asset Net Book Value is Zero-Want to post Sale of Asset for the same
I have Scenario
We have upload the legacy Assets in Year 2005. One of the Asset Net Book Value is Zero. When we are trying to post Asset Retirement, the for that Asset following is error message received:
"Retirement of Old Assets data not possible (No Existing old Asset Data).
Though in the books the Net book value is Zero, we have received profit on sale of Asset.
How post the profit on Asset & also how to take it from the gross block.
Thanks
RagsHi,
the e-message stated, that you must use another transaction type:
so not a transaction type with old asset data like 210.
try / test transaction types : 250-275
pls reward useful answers
thx.
Andreas -
Dear all.
My clined want to sell the assets. if I use the f-92. it is ok. but my client want to take sale invoice printout. It that possition. what i have to do. pl guide me .
girijaSolution is Available
Create a material Number
Book the value and qty of the asset against the material number.
Scarp the asset.
Entry will be
Loss On Scarpping Dr
To Asset Cr
Sale the material through normal invoicing route.As the value and qty of the asset is there in the Material the Invoicing will happen.
Entry will be
Customer Dr
To Sale Cr
The trf the Asset scarping entry (Through JV Route)
Sale Dr
Loss on Scarping Cr
Profit/Loss on Sale of Asset Dr /Cr -
Asset accounting ----sales os asset - pls urgent
Hi
I have one small doubt.
i have asset that total amount is 250000/(computers)
i run depreciation for 2 month.(30%)
but i want sale my keyword (25000/-)
but i am not getting
what transction code can i use ?
what is the entry can i have to pass?
waht is the asset transction type ?
pls explain meHi,
If you are scrapping the part of asset, the T.code ABAVN.
In T.codes ABAON & ABAVN, you need to select is it related to "previous yr acquisition" or Current yr acquisition" in partial retirement tab page.
Regards, -
S_ALR_87012357 Advance Tax on Sales/Purchase - VAT CYCLES
Hi Viewers,
Vat Cycles - When executing transaction code S_ALR_87012357, we cannot get achieved results. The entries from the automatic output vat account (2504000) should be transfered to account (2503000) when we use this transaction code. We have gone thru the complete process and still no result.
Thanks & Regards,
JSAUGHi
In "Aternative Tax Payable Account" field give on which GL account the transfer posting has to happen.
If you want to use a different tax payable account for the transfer posting of the tax on sales/purchases to the one defined in your system configuration, you must enter that account here. The system uses the posting keys configured for the transaction key 'UMS' for the debit and credit postings. Check which fixed posting keys are allocated to the transaction key 'UMS'
Hope this will help.
Rgds
Vani -
Sirs,
I want to test a cycle in my test client for Asset Accounting in SAP.
Can anybody give the steps for test.
Regards,
BSR->Create asset master data -as01
-> acquire assets
ex acquisition
in house production (T codes in easy access menu)
->Run Depreciation - AJAB
->Retire assets (many ways -chk easy access menu)
-> transfer assets - inter co, intra co
->Create AUCs - AS01
->Settle AUCs-AIBU to final assets
-Perform year end closing in AA
->Perform FY change - AJRW -
Sales of assets...
hi all,
i know that assets are sold in fi module. is it possible to open a sales order for an asset?Yes we can make asset sales, provided sales view should have been maintained for the asset material code
In fact, on excise duty part, if the asset is purchased with duty paid, the same amount should be charged while selling also. If not, while selling also, it should not be charged.
thanks
G. Lakshmipathi -
Fixed Asset Sale through SD & AA Module
Dear All,
While selling the fixed asset, carried out the following procedure. Is it correct?
In India, we need to pay excise. Due to this, the asset which is required to be sold, needs to be created as a material.
Following steps are carried out -
a) Material code created under Material Type Finished Goods with Sales View. Value of the asset which is to be sold is put in as a Standard Price.
b) For sale, created inventory of the Finished Goods ( which is created for the asset) by way of Initial upload.
Accounting Entry - Finished Goods -
Dr 25000
To Initial Upload -
25000
c) Now, through SD , created PGI i.e.Post Goods Issue.
Accounting Entry -
FG COGoods Manufactured -
Dr 25000
(Exp Account)
To Finished goods 25000
d) Billing Document Created
Accounting Entry -
Customer Account -
Dr 17996.16
To Sales Offsetting A/c 15000
To Cenvat Suspense 2400
To Cenvat Suspense 48
To Cenvat Suspense 24
To CST Payable 524
Excise Document Created
Cenvat Suspense A/c -
Dr 2472
To BED Payable 2400
To E.Cess Payable 48
To Hr E.Cess payable 24
e) Now carried out Asset Accounting Transaction
ABAON - Asset Sale Without Customer
Accounting Document created
Sales Offsetting Account -
Dr 15000
Loss on Sale of Asset Dr 9996
Accumulated Depre Dr 4
To Asset Account (sold asset) 25000
I m not sure on the initial upload & FG COGM effects. Whether I carried out correct process? Whether the accounting effects are correct?
Pl help. this is very urgent
Thanks in advance,
Gov.Rakshith,
You are using Asset Sale Clearing Account for credit istead Non-valuated material. Your the Asset is your "stock material".
please also check:
Sale Of Fixed Assets from SD
Sales Order For Asset Sale
regards -
Sale value of group asset- sub asset more than wdv less than group total
Hi,
I am maintaining group asset for Income Tax Depreciation. All the asset under the same class is consider single asset for Income tax purpose. For eg value of Plant and machinery under Income tax is derived for all asset totaled together after depreciation for the year. Thus P&M is considered single asset for calculating I.T. Depreciation, even though it may contain 100 assets.
For Income tax, for P & M class of asset depreciation for first year is with different rate and for rest years with different rate. Hence I have maintained sub asset for this group asset. Whenever a new asset is purchase, for income tax purpose it is recorded in the newly created sub asset number.
The problem arises in sale of asset. When I am selling any machinery the sale value is deducted from the group value for IT purpose. In this case even though the value of sale is higher than the WDV of the individual asset it is adjusted in total. While configuring this in SAP I am facing following difficulties-
1. As the rate of depreciation is different for different years I am not able to maintain a single group asset. I have to create a sub asset. This facilitate the right depreciation calculation by different dep rate for purchases in diff year.
2. But as I am maintaining different Sub asset the sale value cannot exceed the balance of that particular asset, even though the total value in SAP for all the group assets is higher.
3. I can not allow having negative values. Negative values are not allowed to maintain in IT Records.
Please help to resolve the issue.Hi,
I am maintaining group asset for Income Tax Depreciation. All the asset under the same class is consider single asset for Income tax purpose. For eg value of Plant and machinery under Income tax is derived for all asset totaled together after depreciation for the year. Thus P&M is considered single asset for calculating I.T. Depreciation, even though it may contain 100 assets.
For Income tax, for P & M class of asset depreciation for first year is with different rate and for rest years with different rate. Hence I have maintained sub asset for this group asset. Whenever a new asset is purchase, for income tax purpose it is recorded in the newly created sub asset number.
The problem arises in sale of asset. When I am selling any machinery the sale value is deducted from the group value for IT purpose. In this case even though the value of sale is higher than the WDV of the individual asset it is adjusted in total. While configuring this in SAP I am facing following difficulties-
1. As the rate of depreciation is different for different years I am not able to maintain a single group asset. I have to create a sub asset. This facilitate the right depreciation calculation by different dep rate for purchases in diff year.
2. But as I am maintaining different Sub asset the sale value cannot exceed the balance of that particular asset, even though the total value in SAP for all the group assets is higher.
3. I can not allow having negative values. Negative values are not allowed to maintain in IT Records.
Please help to resolve the issue. -
Is it possible to sell assets through a sales order
Hi,
Is it possible to sell assets through a sales order?
Kindly help me
Thanks
SupriyaHi
The basic process are as under:
1. You need to create the asset as non valuated material
2. You need to define a pricing procedure for the sale of asset. This would enable you to create a commerical outgoing invoice as well as capture all the taxes involved.
3. You need to assign suitable revenu and tax accounts in VKOA
4. Create a Sales Order and do the billing. This should create an Accounting entry
Customer A/c Dr
Revenue - Asset Sale Cr
Sales Tax/Vat Payable Cr
5. You need to create an outgoing excise invoice for the asset
6. Through T Code ABAON, you need to pass an entry in Asset Accounting for Sale of Asset, with Revenue and W/o Customer. This would pass the accounting entry
Revenue - Asset Sale Dr
Asset Account Cr
Hope this clarifies
Thanks & Best Regards
Sanil K Bhandari -
Vat charge when we sale asset through asset accounting f-92
what configuration settings we need to be done to charge vat on asset sale through asset accounting f-92.
Hi Abhi
What I have seen clients doing is this:
They post F-92 to remove the assets from the assets register...Either with or without tax
Then they post VF01 with 100 discount so that VF01 posts only the Tax amount incase its not posted in F-92
Later on you can print the invoice from SD and pass it on to the customer
br, Ajay M
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