What is 'asset type' in SAP CRM-IFS - Financial Services?

asset type - Overview

• Component: CRM-IFS

• Component Name: Financial Services

• Description: Classifies personal resources such as cash, savings deposits, stocks, securities, inventories, machinery, or real estate. Asset types are shown in the personal financial statement of a person.

asset type - Details

• 
  Key Concepts: 
  Asset type is a classification of assets in the CRM-IFS Financial Services component of SAP. It is used to categorize assets according to their characteristics, such as type, purpose, and value. Asset types are used to determine the accounting treatment of an asset and to ensure that the asset is properly managed and tracked. 
  
  How to use it: 
  Asset types are used to classify assets in SAP. When creating an asset, the user must select an asset type from a list of available options. The asset type will determine how the asset is treated for accounting purposes and how it is managed and tracked. 
  
  Tips & Tricks: 
  When selecting an asset type, it is important to consider the purpose of the asset and its value. This will help ensure that the asset is properly classified and accounted for. 
  
  Related Information: 
  For more information on asset types in SAP, please refer to the SAP Help Portal or contact your local SAP support team.