Enterprise activation EA-FIN is required for FI-AA (new), check the OSS note 1121965 for further functionalities and information.
For every additional currency type defined on the company code a corresponding depreciation area need to be set up.
Download Pre-check report (RASFIN_MIGR_PRECHECK) via note 1939592 and 2129306
New asset accounting features
Benefits of new asset accounting:
The below picture will give you the clear understanding of local GAAP and IFRS will update, assume that if you are procuring 10000 EUR asset and in local gap you have to capitalize the 500 EUR freight charges. Here we have IFRS and LGAAP as two different accounting principles.
Balance Carry forward:
Define Depreciation area :–
Financial Accounting (New) -> Asset Accounting (New) -> Integration with General Ledger Accounting -> Define How Depreciation Areas Post to General Ledger (TCODE – OADB)
Here we define depreciation area for minimum of all accounting principle with different currencies.
Define Technical Clearing account:
Financial Accounting (New) -> Asset Accounting (New) -> Integration with General Ledger Accounting -> Define Technical Clearing Account for Integrated Asset Acquisition
We define technical clearing account at chart of account level and/or also with different account determination basis.
Define depreciation area for quantity update (if necessary):
Financial Accounting (New) -> Asset Accounting (New) -> General Valuation -> Depreciation Areas -> Define Depreciation Area for Quantity Update
Quantity updates in real time is possible for depreciation areas other than 01. This function is especially relevant in case of collective low-
Value assets. Currently the system uses depreciation area 01 for updating quantities unless we have configured different depreciation area for the same.
Define alternative Doc. Type for Original Trans.Type (if necessary):
Financial Accounting (New) -> Asset Accounting (New) -> Integrated Transactions: Alternative Doc. Type for Acctg-Princpl-Spec. Docs -> Specify Alternative Document Type for Acctg-Principle-Specific Documents
This configuration can be necessary, if we are using functionality of document splitting and we want the document splitting rules to be
Different for the business transaction variant of the valuating document (asset acquisition) and the operative document (Accounts Payable).
This configuration could also be necessary, if our organization requires that the valuating documents are posted with a different document
type than the operational documents.
This configuration can be made company code dependent as well as company code independent.
Define Revenue Distribution for Fixed Asset Retirement:
Financial Accounting (New) -> Asset Accounting (New) -> Transactions -> Retirements -> Gain/Loss Posting -> Define Revenue Distribution for Fixed Asset Retirement
At company code level we specify how the system is to distribute revenues arising from asset retirements: either based on the net book
Value or acquisition / production costs (APC). In the standard system, the distribution is based on the net book value
Smoothing is no more relevant (and available) any more