Asset classes are the most important means of structuring fixed assets.An unlimited number of asset classes can be defined in the system. Asset classes uses to structure the assets according to the requirements of the enterprise company.
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Depreciation areas are grouped together, according to the requirements of a specific country or economic area into a chart of depreciation.vCharts of depreciation are used to manage various legal requirements for the depreciation and valuation of assets.
Depreciation areas used to calculate different values in parallel for each fixed asset for different purposes. The system allows you to define up to 99 depreciation areas.
After creating chart of depreciation, it needs to be assigned to company code. The link between the chart of depreciation and Company code is established through Assignment.
Dunning component used to create and send payment reminders or dunning letters to business partners to remind them of overdue payables and to request payment. Dunning system can be mapped using the following two concepts –
Calculating interest on total balance of an account or total balance of customer account is called as interest calculation. Interest calculation could be either Item, Balance or Penalty type.
Below process is to create vendor account group TC01 (Test Vendor Account Group).
Account group is the highest level of customer master data. Customers are classified into various account groups.
There is possibility of rounding differences occur while clearing accounting documents that are posted in foreign currency.
By default, SAP system configuration comes up with predefined tax calculation procedures for all most all countries. In some cases, it is required to define a new tax procedure or modify some existing tax procedure.