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Asset and Equipment Disposal and Write off Form Newcastle Edu

Asset and Equipment Disposal and Write off Form Newcastle Edu

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welcome to another video in the acps for Hana fixed assets playlist fixed assets retirement scrapping write-off and sale all use the same process in saps for Hana in the video today I will explain the different business cases and the financial entries included let's take an example in 0 1 0 and 2020 we purchased an asset for the value of 40 000. this asset has a useful life of four years so it should be over by 31st 12 2023. when posting the fixed acquisition the financial entry is a debit to fixed assets and accurate it to the supplier accounts payable or cash then over the useful life of the asset every period we post the fixed asset depreciation and if the accounting entry is a debit to the depreciation expense and accredited to accumulated depreciation the fixed asset acquisition value is displayed in our balance sheet under assets in a positive value and accumulated depreciation is also displayed under assets but with a negative value and the balance is the netbook value of the as

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