What is the meaning of Generate Asset Classes From GL Accounts. Kindly can any

What is the meaning of Generate Asset Classes From GL
Accounts. Kindly can any one tell me what is the meaning of
this in detail.

Question Posted / recu2010

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What is the meaning of Generate Asset Classes From GL Accounts. Kindly can any one tell me what is ..

Answer / anil kumar

IT MEANS IF WE ARE CREATING THE ASSETS FROM A SMALL
COMPANY, WE CAN CREAT GL ACCOUNT AND FROM THAT GL ACCOUNT
WE CAN CREAT ASSET WITH ITS ACCOUNT DETERMINATION ,
LAYOUTS, NO RANGES ETC AT A TIME THROUGH A WIZARD.

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What is the meaning of Generate Asset Classes From GL Accounts. Kindly can any one tell me what is ..

Answer / n.selvakumar

Asset class is different from GL accounts. Similar assets
which require uniform treatment can be grouped under one
asset class. All the assets booked in the asset class
must have same attributes. Whereas GL account is the
account determination key which links the asset subsidary
books for consolidation .

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What is the meaning of Generate Asset Classes From GL Accounts. Kindly can any one tell me what is ..

Answer / anil kumar

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What is the meaning of Generate Asset Classes From GL Accounts. Kindly can any one tell me what is ..

Answer / pp

Asset classes are main criteria for classifying the
assets.In the Asset class we have to give the account
determination key.Which contains the gl accounts for
Gain,loss from asset sale,Acquisition,depreciation
calculation,Scrapping etc.Whenever create the asset master
we need to give the asset classes.When ever any transactions
are posted happens the Gl accounts attached to asset class
is automatically picked up and entries are passed.In asset
class we have to give the screen layout,Number range.

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