Asset Accounting Journal Entries

7/21/2019 Asset Accounting Journal Entries

http://slidepdf.com/reader/full/asset-accounting-journal-entries 1/3

11/10/13 Asset Accounting Journal Entries | SAP FICO Docs

sapfidocz.wordpress.com/2013/03/17/asset-accounting-journal-entries/ 1/3

Asset Accounting Journal EntriesMarch 17, 2013

1) ASSET ACQUISITION

The entry that gets generated on processing this

transaction is as follows:

Dr Asset a/c

Cr Vendor a/c

The asset value dates are mentioned at the time of

purchase. The asset value dates determine the date

from which the depreciation would be calculated.

2) RETIREMENT/SALE OF AN ASSET

The entries that get generated are as below: (withnotional figures)

When asset is sold

Dr. Accumulated Depreciation A/c

Dr. Loss on Sale of Asset A/c (if applicable)

Dr. Clearing Account from Asset Sale



11/10/13 Asset Accounting Journal Entries | SAP FICO Docs

sapfidocz.wordpress.com/2013/03/17/asset-accounting-journal-entries/ 2/3

Cr. Asset (APC Value) A/c

Cr. Profit on Sale of Asset A/c (if applicable)

When the asset sold is cleared against the

customer invoiceDr. Customer A/c

Cr. Clearing Account from Asset Sale

At the time of payment,

Dr. Bank Incoming A/c

Cr. Customer A/c

3) WRITE-UP OF AN ASSET

The accounting entry that gets generated is:

Dr Accumulated depreciation a/c

Cr Depreciation

4) DEPRECIATION POSTING RUN

The entries that get generated are as below:

Dr Depreciation a/c



Documents

Asset Accounting Journal Entries