What is scrap in SAP SRD-FIN-FA - FIN-Fixed Assets?

SAP Term: scrap

• Component: SRD-FIN-FA

• Component Name: FIN-Fixed Assets

• Description: To retire an individual material, fixed asset, or subasset account at net book value.

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• Key Concepts: 
  Scrap is a term used in SAP Fixed Assets to refer to the disposal of an asset. This can be done either through sale or through physical destruction. When an asset is scrapped, it is removed from the company’s books and the value of the asset is written off. 
  
  How to use it: 
  In SAP Fixed Assets, you can scrap an asset by going to the Asset Explorer and selecting the asset you want to scrap. Then, you will need to enter the date of disposal and select whether it was sold or physically destroyed. Once this is done, the asset will be removed from your books and its value will be written off. 
  
  Tips & Tricks: 
  When scrapping an asset, make sure that you enter all relevant information such as the date of disposal and whether it was sold or physically destroyed. This will ensure that the asset is properly removed from your books and its value is written off correctly. 
  
  Related Information: 
  For more information on scrapping assets in SAP Fixed Assets, please refer to the SAP Help documentation.