If you're here then you probably already know about how the IRS has a separate depreciation schedule for passenger vehicles (including electric vehicles). This was referred to as luxury auto depreciation. This blog will show you that it can easily be done in SAP.
This second blog in the Asset Revaluation AR29N series covers some specific items on why SAP's solution is the preferred method for asset revaluation.
SAP can easily handle US tax depreciation requirements. In this blog, I'll show how the US Mid-Quarter convention works.
If you work in the capital accounting area long enough then you’ll eventually have to handle a fixed asset revaluation. There are many factors that make this process complex, political, detail oriented, and worthy of your attention.
If you want to have a disciplined strategy around project cost controls (and in CO in general), then you'll want to make sure your budget and commitment values are correct. Similarly, you'll want to consistently repair your availability control values to ensure that your budget tolerances aren't being exceeded. Read...
For the tax accountants that want to know if they can make prior year asset basis adjustments without impacting the corporate book.
Third part of the blog series covers how tax basis adjustments are made so that the corporate book isn't impacted.
To better understand how SAP Fixed Assets supports US Tax calculations we'll have to review how SAP keeps all of the asset valuations separate.
Reporting is a critical output of any ERP system yet few customers take the steps to ensure their project reports are accurate. How and why can this be handled easily in SAP Project Systems?
Can SAP Fixed Assets handle the complicated (and ever-changing) rules for US Taxes? Step into this blog series to see what's possible.