Fixed Asset Management

Best Practice Scenario: Fixed Asset Management

The Fixed Asset Management business scenario allows you to manage your fixed asset accounting. It covers the entire life cycle of your fixed assets, from purchasing, including fixed assets under construction, through to asset retirement or sale. The solution enables you to value your fixed assets in parallel, in accordance with local and international valuation principles, tax-based valuation principles, or for statistical or cost-accounting purposes. This ensures continuous compliance with country-specific regulations. Throughout the fixed asset lifecycle the values for depreciation are calculated and posted automatically and provided in various reports.

Process Flow details Fixed Asset Management

Roles involved to Fixed Asset Management

• Employee
• Operational Buyer
• Accounts Payable Accountant
• Fixed Asset Accountant
• Accounts Receivable Accountant

Business Value of Fixed Asset Management

The scenario of Fixed Asset Management is ideal for financial professionals at midsize companies who want to efficiently manage fixed asset accounting.  You can value your fixed assets in accordance with different accounting principles.

SAP Business ByDesign helps efficiently manage the entire life cycle of your fixed assets, from their purchase or first acquisition, through to retirement or sale.

 

[caption id="attachment_201568" align="aligncenter" width="1024"] The Business Flow of Fixed Asset Management within SAP Business ByDesign[/caption]

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Key Benefits of Fixed Asset Management

• Fixed Asset Management reduces the time and energy it takes to manually perform the necessary accounting procedures, allowing you to focus on other tasks;
• You can value your fixed assets quickly and easily;
• In accordance with local book valuation or tax-based valuation;
• In accordance with international accounting principles;
• For statistical or cost-accounting purposes;
• To ensure continuous compliance with country-specific regulations;
• You can track and report assets accurately in a fully-integrated environment;
• The scenario improves efficiency through greater use of automation, such as the creation of fixed asset master data records including the calculation of acquisition costs.

Application

• SAP Business ByDesign

Continue to review the other Business Processes SAP Business ByDesign

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