| Setup tasks |
Before you set up the Asset Accounting:
- They provide default accounts to common assets
and simplify asset addition. You must consider the processing,
reporting, and tax requirements specific to your organization.
This includes how you group assets to facilitate and simplify
processing. These groups are often managed by depreciation
methods, asset type, physical location, asset owner, and
department and provide these main benefits:
- They provide reporting including a current view
of asset ratios and values within your organization.
- They simplify processing, such as selecting a
group of assets to update their depreciation formula or transfer
to another location.
See the Financials Setup and Administration
Guide. |
| Processing tasks |
- Adjustment processing: Adjust assets and asset book data for
multiple assets.
- Transfer processing: Transfer whole or partial individual
assets.
- Disposal processing: Dispose of whole or partial individual
assets. You can also dispose of multiple assets using a mass
approach.
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| Reporting tasks |
- Account and tax conformity: The
application features support tax law and generally accepted
accounting principles (GAAP).
- Currency: Some amounts are stored in base currency or in
transaction currency, thus incorporating multicurrency amounts.
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