What is a group asset?

A group asset is a collection of member assets. Member assets are individual assets that belong to a group asset. You can add member assets to a group asset, or delete member assets from a group asset. You can transfer member assets in or out of a group asset, as well as transfer member assets between group assets.

How do you group assets in fixed assets?

In this article

1. In the navigation pane, go to Modules > Fixed assets > Setup > Fixed asset groups.
2. Select New.
3. In the Fixed asset group field, type a value.
4. In the Name field, type a value.
5. Select Books.
6. In the Book field, enter or select a value.
7. Set the Service life of the asset, in years.

What do you mean by assets?

An asset is something that provides a current, future, or potential economic benefit for an individual or other entity. An asset is, therefore, something that is owned by you or something that is owed to you.

What is group asset in SAP FICO?

A ‘Group Asset’ in SAP is almost like a normal asset except that it can have (any number of) sub-assets denoted by Asset Sub numbers. The concept of group asset becomes necessary when you need to carry out depreciation at a group level, for some special purposes such as tax reporting.

Can you group assets for depreciation?

Group depreciation combines similar fixed assets into a pool with a common cost base for calculating depreciation on financial statements. The assets grouped together should be similar in the way they function, or each asset should be small enough that it is not considered material on its own.

What are the two types of assets?

The two main types of assets are current assets and non-current assets. These classifications are used to aggregate assets into different blocks on the balance sheet, so that one can discern the relative liquidity of the assets of an organization.

What is SAP asset type?

What is Asset Class in SAP / Assets Classes. In SAP, Asset classes are used to classify the fixed assets in the asset accounting according to the asset types. Each asset master data must be allocated to one asset class, for e.g. Building, Vehicles, Furniture, Machines, etc.

What is the main asset and sub asset in SAP?

Main fixed assets and their subassets are assigned a 12-digit number and a 4-digit subnumber. The main fixed asset is assigned subnumber 0000. Leading zeroes are deleted automatically. The number range for the main asset ID is defined in the asset class.

Which assets should be capitalized?

Fixed assets are capitalized. That’s because the benefit of the asset extends beyond the year of purchase, unlike other costs, which are period costs benefitting only the period incurred. Fixed assets should be recorded at cost of acquisition.

What is an example of a group asset?

Assets should only be assembled into a group if they share similar characteristics and have approximately the same useful lives. Examples of group depreciation are “group of desks” and “group of trucks” that are treated as single assets.

How many assets can be assigned to one asset group?

Each Asset Group can be comprised of assets only, of another Asset Group only, or a combination of assets and one other Asset Group. Although an asset group can be assigned to only one other asset group (its ” Parent “), a single asset can be assigned to multiple Asset Groups.

What is an asset?

An asset is a resource owned or controlled by an individual, corporation, or government with the expectation that it will generate a positive economic value. Common types of assets include current, non-current, physical, intangible, operating, and non-operating.

What is a child asset group?

An asset group within another Asset Group is considered a”child” of that “parent” Asset Group. When the Axeda® Platform is first installed, the Root Asset Group and the Default Model Group are created by default.