In SAP Simple Finance, you can create a new asset under Asset Accounting. An asset in accounting is known as any tangible/intangible resource that can add a value and can be included in the financial statement.
Step 1 − To create a new asset, navigate to Accounting → Financial Accounting → Fixed Assets → Asset → Create → Asset or use Transaction code AS01.
Step 2 − In the next window, enter Asset class and Company Code. Press ENTER key to confirm the details.
Step 3 − You can select from different Asset class types as per Company Code value.
Step 4 − In General tab, you have to enter the Description of the asset and navigate to Time Dependent tab and enter the Cost Center details.
Step 5 − Next is to Navigate to Click the Deprec. Select the Areas tab and enter the value of UseLife box.
Step 6 − Click the Save button to save the entry and you will get a confirmation that asset is created in the system.