What is Fixed Asset in SAP AP-ACC - FIN Accounting?

SAP Term: Fixed Asset

• Component: AP-ACC

• Component Name: FIN Accounting

• Description: A view of usually one or more physical objects, rights or other economic values that belong to a company. These are in long-term use, are recognized in the financial statements at closing, and must be individually identifiable. It also includes the recording of the values for this view.

Smart SAP Assistant

• Key Concepts: 
  Fixed Assets are tangible assets that are used in the production or supply of goods and services, held for a period of time, and are not intended for sale. In SAP, Fixed Assets are recorded in the Asset Accounting (FI-AA) component of the Financial Accounting (FI) module. 
  
  How to use it: 
  In SAP, Fixed Assets are created in the Asset Master Record. This record contains information such as the asset’s description, acquisition date, useful life, and depreciation method. The asset can then be posted to the General Ledger (GL) account and depreciated over its useful life. 
  
  Tips & Tricks: 
  When creating a Fixed Asset in SAP, it is important to ensure that all relevant information is entered into the Asset Master Record. This will ensure that the asset is properly accounted for and depreciated over its useful life. 
  
  Related Information: 
  For more information on Fixed Assets in SAP, please refer to the SAP Help Portal or contact your local SAP consultant.