Today’s Blog features what’s new in SAP Business One 9.0 and focuses on areas of enhancement and new features related to Fixed Assets. SAP Business One 9.0 (now available) contains enhancements and additions meant to support the growing needs of the small and medium enterprise companies. So, what’s new in SAP Business One 9.0?
- Integrated comprehensive fixed assets solution for end to end process
- Ability to handle different accounting areas (e.g. local accounting practices and IFRS in parallel)
- Flexible depreciation calculation defined to meet local requirements & international accounting standards
- Authorization concept
- New fixed assets master data structure
With all the new features and new enhancements with fixed assets, many benefits can be recognized. One of the most critical benefits that can be seen is that the new fixed assets enhancements meet cross-localization accounting standards.
Many companies do business in multiple countries. The fixed assets enhancements allow for companies to manage their financial records for accounting purposes when dealing with countries who have different account standards. There are many countries that do not follow Generally Accepted Accounting Principles, or GAAP, because it is not mandatory in their country. The fixed asset enhancements allow for companies to manage their records when dealing with non-GAAP compliant companies.
Another benefit is that there are enhanced capabilities in fixed asset management. In dealing with GAAP, the account transactions when purchasing or disposing of a fixed asset require a lot of work. The new fixed asset enhancements allow a company to simply enter in the transaction into the system and the system takes care of the rest. The system will automatically post the journal entry, update the G/L accounts, and records the purchase or sale. The correct setup and configuration must be done in order to maximize the benefits of the new features.
For more information on SAP Business One, check out our Blog, What is SAP Business One or for a detailed list of the new features of SAP Business One click here. You can also contact Clients First Business Solutions for Support of SAP Business One. Clients First can be reached by phone at (888) 239-2818.