Title: Asset Sale with Postings to a Clearing Account
Module: Financial Accounting
Course: Fixed Assets
Work Instruction
Asset Sale with Postings to a Clearing Account
ABAON
Purpose
Use this procedure to sell an asset with postings to a clearing account.
Trigger
Perform this procedure when an asset is sold and there is some income.
Prerequisites
None.
Menu Path
Use the following menu path to begin this transaction:

Select Accounting  Financial Accounting  Fixed assets  Postings 
Retirement  Retirement with revenue  Asset sale without customer to go to the
Enter Asset Transaction: Asset Sale Without Customer screen.
Transaction Code
ABAON
Additional Information
This transaction could be used when:

We find out after the sale of an asset and then process a journal to credit the asset clearing
account 20252.

We credit asset clearing account 20252 by Accounts Receivable invoice and use this
transaction to process accounting entries for gain/loss.

The transaction creates the following journal:
Posting Key
Acc.
Description
Debit
20252 Asset clearing with proceeds.
Credit
11100 Cost of an asset.
Debit
11500 Accumulated depreciation.
Credit
48200 Profit on sale OR
Debit
48210 Loss on sale.
The asset clearing account 20252 is a suspense account and should be cleared to a
zero balance regularly.
Filename: 81910316
Reference: ABAON
Version: Prelim
Last Modified: 07.31.2017 21:21:00
Work Instruction
Page 1 of 10
Title: Asset Sale with Postings to a Clearing Account
Module: Financial Accounting
Course: Fixed Assets
The sale proceeds referred to should be excluding VAT.
Filename: 81910316
Reference: ABAON
Version: Prelim
Last Modified: 07.31.2017 21:21:00
Work Instruction
Page 2 of 10
Title: Asset Sale with Postings to a Clearing Account
Module: Financial Accounting
Course: Fixed Assets
Procedure
1.
Start the transaction using the menu path or transaction code ABAON.
2.
Perform one of the following:
If
Go To
Asset is without investment support
Step 3
Asset has investment support
Step 8
Filename: 81910316
Reference: ABAON
Version: Prelim
Last Modified: 07.31.2017 21:21:00
Work Instruction
Page 3 of 10
Title: Asset Sale with Postings to a Clearing Account
Module: Financial Accounting
Course: Fixed Assets
Enter Asset Transaction: Asset Sale Without Customer
3.
As required, complete/review the following fields:
Field Name
Document date
R/O/C
R
Description
Enter the document date.
Example: 28.03.01
Posting date
R
Defaults to today, change to the period to post to if necessary.
Example: 28.03.01
Asset val.date
R
Enter the asset value date.
Determines when the depreciation is to finish. Has to
be the same YEAR as the posting year but can be a
different period.
Example: 28.03.01
Text
O
Enter the asset number and the description of the asset sold.
Manual value
R
Enter the sale proceeds (excluding VAT).
Example: 4000,000.00
Filename: 81910316
Reference: ABAON
Version: Prelim
Last Modified: 07.31.2017 21:21:00
Work Instruction
Page 4 of 10
Title: Asset Sale with Postings to a Clearing Account
Module: Financial Accounting
Course: Fixed Assets
Posting dates in July default to month 12. If it is necessary to post to month 13, click
on
4.
Click on
and change the period.
to display a simulation of the journal created by the asset sale.
Filename: 81910316
Reference: ABAON
Version: Prelim
Last Modified: 07.31.2017 21:21:00
Work Instruction
Page 5 of 10
Title: Asset Sale with Postings to a Clearing Account
Module: Financial Accounting
Course: Fixed Assets
Enter Asset Transaction: Asset Sale Without Customer
5.
If anything needs to be changed, click on
period.
6.
Click on
Filename: 81910316
Reference: ABAON
and make changes as necessary. E.g. posting
to proceed with the asset sale and post the journal.
Version: Prelim
Last Modified: 07.31.2017 21:21:00
Work Instruction
Page 6 of 10
Title: Asset Sale with Postings to a Clearing Account
Module: Financial Accounting
Course: Fixed Assets
Enter Asset Transaction: Asset Sale Without Customer
The system displays the message, "Asset transaction posted with document no. xxxx."
7.
You have completed this transaction.
8.
For an asset with investment support use the following menu path to begin the transaction:
Accounting  Financial Accounting  Fixed assets  Postings  Retirement 
Retirement with revenue  Asset sale without customer to go to the Enter Asset
Transaction: Asset Sale Without Customer screen or use transaction code ABAON.
Filename: 81910316
Reference: ABAON
Version: Prelim
Last Modified: 07.31.2017 21:21:00
Work Instruction
Page 7 of 10
Title: Asset Sale with Postings to a Clearing Account
Module: Financial Accounting
Course: Fixed Assets
Enter Asset Transaction: Asset Sale Without Customer
9.
As required, complete/review the following fields:
Field Name
Document date
R/O/C
R
Description
Enter the document date.
Example: 28.03.01
Posting date
R
Defaults to today, change to a different date if necessary.
Example: 28.03.01
Asset val.date
R
Enter the asset sale date.
Sales date must be same year as posting year.
Example: 28.03.01
Text
O
Enter asset number and description of asset sold.
Manual value
R
Enter the asset sale proceeds (excluding VAT).
Example: 4000,000.00
10.
Click on
Filename: 81910316
Reference: ABAON
to display further fields.
Version: Prelim
Last Modified: 07.31.2017 21:21:00
Work Instruction
Page 8 of 10
Title: Asset Sale with Postings to a Clearing Account
Module: Financial Accounting
Course: Fixed Assets
Enter Asset Transaction: Asset Sale Without Customer
11.
As required, complete/review the following fields:
Field Name
Trans. Type
R/O/C
R
Description
Enter the transaction type 211.
Example: 211
12.
Click on
to display a simulation of the journal created by the asset sale.
The clearing account 20252 will be debited with the proceeds (excluding VAT), cost
and accumulated depreciation will be reversed and loss on sale debited. The
outstanding investment support is released to a P&L account.
13.
Click on
Filename: 81910316
Reference: ABAON
to post.
Version: Prelim
Last Modified: 07.31.2017 21:21:00
Work Instruction
Page 9 of 10
Title: Asset Sale with Postings to a Clearing Account
Module: Financial Accounting
Course: Fixed Assets
If there are any cost assignments incorrect e.g. the cost centre on the asset is not valid,
it is not possible to change them here, because this is a display only. As a last resort,
use the sale with customer transaction (F-92) because the line items can be amended.
If this transaction is used it will be necessary to post a journal or an Accounts
Receivable invoice to clear the debit entry in the asset clearing account (20252). See
General Ledger posting transaction F-02.
Result
You have sold an asset with postings to a clearing account.
Comments
None.
Filename: 81910316
Reference: ABAON
Version: Prelim
Last Modified: 07.31.2017 21:21:00
Work Instruction
Page 10 of 10