Making Changes to Asset Master Data

Objective

After completing this lesson, you will be able to change asset master data

Asset Master Data Changes

The system has prompted Kevin to select a cost center. But why does he need to assign a cost center to the asset? He takes a look at the notes that Lisette prepared for him to go through:

Note

The cost center assignment in the asset master record is used to determine the cost center affected when the following types of asset postings are made:

Fixed asset depreciation
Gain or loss from asset sales

Being relatively new to his job, Kevin is still worried about making a mistake that can’t be fixed. So, he seeks out for Lisette to get some answers on the topic of asset master data changes.

Take your time to go through some further notes that Lisette has prepared for Kevin, before moving on to the next section.

Note

At any point in time, an asset is assigned to a single cost center. This assignment is time-depended, and the cost center to which an asset is assigned may change over the course of an asset's life.

An asset's master record may, therefore, contain more than one cost center. However, only one assignment is possible per time interval.

For this reason, it's better to create a new time interval than to overwrite the cost center in the master record.

Benefits of creating a new interval are:

The change can be traced.
The correct assignment for a given point in time is displayed.
The different assignments are stored historically.

Changing Time-Dependent Asset Master Data

Kevin feels well prepared and is set to start with the relevant asset master data changes. Let's follow along Kevin, while he creates, changes and deletes time-dependent asset master data.

Change Asset Master Data

Kevin changes the cost center assignment for the first computer as it has been used by another department since the current month.

ExerciseStart Exercise

Notes on Fixed Asset Master Data

Kevin's Key Takeaways

Kevin took some notes for himself. Read through them for a quick re-cap of what you've learned so far.

Note

Fixed assets can be created with one main asset number. This means that all transactions of the asset are posted to this main asset number.
It is possible to create assets with main and sub-assets. This means that subsequent acquisitions and replacement procurement can be displayed separately as sub-numbers.
There are fields that you can maintain on a time-dependent basis - such as the cost center. Create a time interval when changes are made.

Summary

Asset master data changes occur during asset lifecycle.
Cost center assignment affects asset depreciation and sales.
Time-dependent changes ensure correct historical assignments.
New intervals trace changes and display correct assignments.

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