Fixed asset management is so industries something that is required by all kinds of industries across the globe. For service providers it takes the form of office equipment and furniture and for manufacturers it takes the form of factory tools and machinery. All of these come under the fixed asset (long term) head and are not a core part of the trading. However, fixed asset are equally important as any of your other inventories. SAP Business One makes managing these fixed assets easier wherein even depreciation can be calculated using SAP Business One Addon. It was till the B1 8.8 version of SAB Business One that this Addon was lacking. However, businesses today have been adopting it across the industry verticals, the reason being the Addon.
The SAP Business One 9.0 in fact is making fixed asset management a core product offering and consequently has been promoting a variety of functionalities for end to end management. Starting off with SAP Business One is easy and only requires enabling the administration module. Once the fixed assets module is activated, the menus will automatically show up, thereby allowing you to manage several types of GL accounts.
Once you have completed the initial setup for fixed assets management, you need to work on the fixed assets master data with SAP Business One Addon. Most of the fixed asset transactions are in fact facilitated by the financial module except the sales and purchase figures. After this, all fixed asset related transactions could be carried out using the SAP B1. Again, two transactions, namely, ‘purchase of fixed assets’ and ‘sales of fixed assets’ are the same as the general purchases in SAP B1 correspondingly.
It is also vital to note that the capitalization of fixed assets will be carried out through purchase of new assets or by working with old assets in a later stage of SAP B1. Capitalization of new assets done by purchases is also reflected automatically in the document type. Retirement is just the opposite scenario carried out by the sales and document/transaction types.
SAP Business One Addon also provides several self-explanatory features including ‘asset revaluation’, ‘depreciation run’ and others. These would be required for the standard fixed asset management. SAP Business One Addon also comes with a high quality SAP Business One Support that makes life easier for its users. Businesses all across the globe have been relying heavily on SAP Business One Support to streamline their asset management.
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