I have a requirement.
I am amidst the Asset Accounting configuration. I am unaware about the requirement of Group Asset. The Depreciation area required to maintain are book depreciation & tax depreciation.
I have 6 asset classes. for example under one asset class 'furniture & Fixtures', I have sub-groups a) Furniture; & b) Electrical fittings.
How should I proceed with the Group Asset settings ?
How can I represent the Main Asset class : Furniture & Fixtures
How can I represent the sub-groupings : (a) Furniture (b) Electrical fittings
Also advise about the G/L accounts required for the Group Assets ? Is there any problem if I use same G/L number each for Acquisiton, sale, accumulated depreciation & ordinary depreciation for all the different classes of Group Asset ?