2013-05-17- 7153.100- Spec- Asset Accounting Implementation #CompanyCode

SPECIFICATIONS

7153.100 Implementation of asset accounting


Purpose

Implement Fixed Asset at Corporate New Era. This include Fixed Asset Tax Depreciation


Admin Info

Purpose
 Implement Asset Accounting
Requested By
 Joan Profetta
Spec Created By
 Sai Valisetti
Spec Created Date
 05/20/2013
Spec QA by
Objects
Document Status
 WIP

References

Prior Tickets



Documents




Functional Requirement

Below is the email that sent by the user.
While I am sure that SAP can handle the mathematical calculations once programmed in, the issues were the speed to adjust to Congressional changes and the reporting. Attached are the forms that are part of the tax filing that show the information that is required

1. Form 4562 – need the information broken out between assets where depreciation goes to COGS vs SG&A
2. Form 4797 – information required to be shown for assets disposed of during the year

If I remember correctly, the form 4562 is the one that really threw Rukshana and made her think that SAP was not amenable to US tax depreciation. In talking to some other SAP users, we came to the same conclusion. I was not able to find anyone who used SAP to do the tax depreciation calculation.




Solution Summary

[Discuss this section with Requester and get approval prior to beginning work]
As I implemented asset accounting in my several projects I think that asset accounting can address the information that is requested by the forms 4562 and 4797. forms are are attached here.
4797 Sales of Business Property (Also Involuntary Conversions and Recapture.pdf
4562 Depreciation and Amortization (Including Information on Listed Propert (2).pdf

In Order to address to get the information from the forms I prepared the DEV300 as DEV300 is not in a usable form as there are not much assets there and the depreciation and year closing were not executed from 2008.So ran the depreciation for each month from 2008.- 20012 and performed the year end closing procedure. After preparing the data and creating the right sort variants got the data for the below forms.
Taxform4562.jpg
Taxform4797.jpg

Test Plan

[List test scenarios/cases to be executed here]

 Test Scenario
 Expected Results
1

2


Solution Details

[Provide complete technical details for configuration or programming here]
I thoroughly went through the requirement of the user. Right now the way that I peruse the system is that we did not mold our system to provide information needed by the forms. Inorder to get the information that is required for the forms 4562 and 4797 we need to do many changes in the existing sytem to get teh reports. Once I prototype the requirement then if the business approves it we can implement it in NEC US

Sap-Sage Blue Print.doc

Issues