Understanding important asset configurations
Although Asset Management needs various configurations to be completed for a successful implementation, we'll consider a few critical setups in the following section. These configuration activities are:
- Configuring asset books
- Configuring asset categories
- Configuring asset profiles
- Configuring cost types
- Configuring transaction codes
- Configuring accounting entry templates
- Configuring depreciation conventions
- Configuring depreciation schedules
- Configuring depreciation limits
Configuring asset books
An asset book is used to define cost and depreciation rules for assets. In real life, organizations may need to follow multiple accounting policies and conventions due to the different countries or states in which ...
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