thanks both for your response.So my understanding from the above response is,
1.I am clear now that settings for low value assets is just to give the message whether we can capitalize or do not capitalize and will not do any automatic write off's as Sethuraman said.
2.With regard to Sethu's reply for Q#4,LVA amount for other standalone AA transactions means they must be FI postings.
3.As far as Preeti's reply on max&min amounts ,I am not sure if I am interpreting her answer incorrectly but seems there is no concept of minimum amount here.As Sethu said 1st column is for all non MM purchases and 2nd column is for MM purchases.Both are maximum amounts check only.
Example of my understanding is,
Suppose in any column(1st or 2nd) if say I give $1000 as limit,then any amount posted on that particular asset class up to $1000 will be allowed to post to Low value asset class.If amount is>$1000 then system gives an error saying it is not low value and I need to post the amount to other Asset class which is not low value.
Please confirm point wise again.
regards
hinfi