SAP Business One Forms Explained (Fixed Asset). Transfer.

The form for today is Transfer. The details regarding this form is as follows: - 

• Form Name & Number: -Transfer & 166

• Form Overview: - As the name suggests, a Transfer document is used to transfer a fixed asset to a different asset class or a different asset master data record

• Transactions & Activities: -

• Assign a different set of G/L accounts to an asset

• Create different asset master records for the same asset

• Change the asset class of an asset for which bookings have already been carried out

• Change the asset class when an asset construction has been completed

SAP Business One Forms Explained (Fixed Asset). Retirement.

The form for today is Retirement. The details regarding this form is as follows: - 

• Form Name & Number: - Retirement & 165

• Form Overview: - In accounting, retiring a fixed asset means removing it from a corporate balance sheet and operating activities.

• Transactions & Activities: -

In SAP Business One, you can retire an asset in the following ways:

• Retirement through Sale
  A fixed asset is sold with a profit or loss. If you want to specify the customer information for the asset sale, you can create an A/R invoice to retire the asset. Upon the creation of the A/R invoice, a retirement document is generated automatically. However, if you do not want to specify the customer information, you can directly create a retirement document using the Sales type.

• Retirement through Scrapping
  If a fixed asset leaves the asset portfolio without any profit or loss being made, you can retire the asset by creating a retirement document with the scrapping type. In this case, the system posts the remaining book value of the asset during retirement as an expense.

• Complete or Partial Retirement
  A retirement can refer to an entire asset (complete retirement) or part of an asset (partial retirement). You can trigger the partial retirement of an asset by entering the retired acquisition and production costs or the retired quantity. When you enter the retired acquisition and production costs or quantity, the system determines the percentage that is deducted from the asset.
  When you create a partial retirement for an asset, the retirement reduces the asset's acquisition and production costs and thereby affects the planned depreciation. The date on which the partial retirement reduces the asset's acquisition and production costs is calculated based on the asset value date in the retirement document and the retirement convention you specified for the asset's depreciation type.
  When you retire an asset completely, the asset becomes inactive and you can no longer carry out any transactions with it.

SAP Business One Forms Explained (Fixed Asset). Capitalization Credit Memo.

The form for today is Capitalization Credit Memo. The details regarding this form is as follows: - 

• Form Name & Number: - Capitalization Credit Memo & 164

• Form Overview: - A capitalization credit memo, which reduces the acquisition and production costs of an asset, essentially represents the opposite of an invoice for a purchased asset.

• Transactions & Activities: -To reduce the acquisition and production costs of an asset, you can use any of the following documents:

• Capitalization credit memo: -
  When you reduce the acquisition and production costs of an asset using a capitalization credit memo, you can apply the reduction to any depreciation area associated with the asset. If the depreciation area you specify is not a Posting to G/L area, no journal entry is generated.
  SAP Business One lets you create a capitalization credit memo for multiple assets. If you select all depreciation areas, the system creates a journal entry for each Posting to G/L depreciation area associated with the assets. In the journal entry, the asset balance sheet accounts are credited and the acquisition clearing accounts are debited.

• A/P credit memo

• A/P correction invoice

 

SAP Business One Forms Explained (Fixed Asset). Capitalization.

 The form for today is Capitalization. The details regarding this form is as follows: - 

• Form Name & Number: - Capitalization & 163

• Form Overview: - When you acquire an asset for the first time, using a capitalization document, you must create the document for all depreciation areas. For subsequent acquisitions, you can create the document for a specific depreciation area. SAP Business One lets you create a capitalization document for multiple assets. Once you add the document, the system creates a journal entry for each Posting to G/L depreciation area associated with the assets. In the journal entry, the asset balance sheet accounts are debited and the acquisition clearing accounts are credited.

• Transactions & Activities: -This form is used to do the following activity: - 

• Capitalization of an Asset. (Creates a journal entry debiting the asset balance sheet accounts.)