What is accountable property in SAP PSM-FG - Functions for U.S. Federal Government?

SAP Term: accountable property

• Component: PSM-FG

• Component Name: Functions for U.S. Federal Government

• Description: Property that satisfies one or both of the following criteria: It is sensitive. It has an acquisition cost above an agency-defined value, has a useful life of one year or more, and must be accounted for throughout its useful life. Property with an acquisition cost less than the agency-defined value is called "expensed property".

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• Key Concepts: 
  Accountable property is a term used in the U.S. Federal Government to refer to any tangible item that is owned by the government and has a value of $5,000 or more. This includes items such as vehicles, furniture, and equipment. It is important to track accountable property in order to ensure that it is properly maintained and accounted for.
  
  How to use it: 
  In the SAP PSM-FG Functions for U.S. Federal Government, accountable property can be tracked using the Asset Management module. This module allows users to enter information about each item of accountable property, including its description, serial number, and purchase date. The module also allows users to track the current location of the item and any maintenance or repair work that has been done on it.
  
  Tips & Tricks: 
  When entering information about accountable property into the Asset Management module, it is important to be as detailed as possible. This will help ensure that all relevant information is captured and that the item can be easily located if needed. Additionally, it is important to keep track of any maintenance or repair work that has been done on the item in order to ensure that it remains in good condition.
  
  Related Information: 
  The Asset Management module in SAP PSM-FG Functions for U.S. Federal Government can also be used to track non-accountable property such as office supplies and other items with a value of less than $5,000. Additionally, the module can be used to track inventory levels and generate reports on asset usage and performance.