Ledger Type and LT (ledger type)

Specify the ledger type user-defined code (UDC) (09/LT) that identifies the account ledger or book for the asset. You can maintain as many sets of depreciation books (ledger types) for an asset as you need so you can depreciate an asset in different ways for different purposes. For example, an asset might have a three-year life for tax purposes, but a five-year life for financial statement purposes. Each set of books can have different depreciation methods and depreciation values.

For Equipment/Plant Management users:

As a minimum setup requirement, you must set up a ledger type of AA (actual amounts).