Asset material code

[Former Member]

Dear Expert

in our system presently we open asset code through as01 and in the PO we select the account assignment category A but now we want to create material code for the asset PO i.e with account assignment category A and material code how it effect the accounting procedure as we will be having 2 master material code and asset code . Is it hit the accounting of the company ??

Regards

[prabhjotsingh_nayyar · Accepted solution]

There are two ways by which you can create an Asset PO.

1. Create a material code with material type asset, that you need to create by copying from materoial type raw material.

Create a normal PO and purchase as if you are purchasing raw material. Once the material is in your inventory then issue to an asset using movement type 241.

2. In the second process, get the asset number created by your Finance department and then create a PO with Account assignment A. In this case as soon as you do GR the cost will automatically get allocated to an Asset.

Hope this will help

Regards

Prabhjot Singh

[Former Member · Accepted solution]

Dear prabjot

but in case of import we have to pay custom duty first then GR is done afterwards so in that case will it hit the accounting

As far as 2nd case is concern presently we create the po with the account assignment category and there we enter the asset code which is created through as01 but now we want material code should also be maintained in the PO so that asset can be inventorize Regards

Edited by: usmfarhan on Jul 17, 2009 3:45 PM

[prabhjotsingh_nayyar · Accepted solution]

The accounting would b different as the material type will also be different. As you know that accounting for asset material can be made different throught the valuation class and then further through the settings of OBYC.

Even if the asset is to be procured into invntory the accounting will not be different. You can in turn issue the same material to asset and can get the accounting entries of both the MIGO and Goods issuance from your finance consultant.

Regards

Prabhjot Singh Nayyar

[Former Member · Accepted solution]

Dear

so we have to create new material type or any existing material type will work for the same also we have to create new valaution class ??

[Former Member · Accepted solution]

Dear Expert

i have to create new material type for asset material master so which material type i have to copied or any standard materail type will work please help me

Regards

[Former Member]

Hi,

Take the help of Raw material reference & create a new material type starting with Z Example ZAST. Then create a valuation class. Then assign respective GL accounts to that valuation class

Regads

Pandari

[Former Member]

Dear

I have created material type by copying raw material material type after that create the material code for this material type.

In purchase order i have choose the account assignment category A and enter material code which is created for material type of asset and enter asset code also in this way i have create purchase order , and then i have done the migo i.e goods reciept against the purchase order but when i check the stock of the material it is showing 0 , i have tick the quantity update and value update tick in the material type but the stock in 0 in the material so why the system is behaving in this fashion .

Regards

[Former Member]

Dear Expert

i want to know when i create material master for asset we have to create materail type so how it effect the present accounting of the company as when we create master for asset the inventory will also be maintained

Regards