Asset Value Date in Settlement

We are doing line item settlement in our system. As the settlement is done at the WBS level, all the assets capitalized would have the same asset value date. Is it possible to have different asset value date for different line items?

Yes, provided you do the settlement run on different dates. Also check the FI settings for settlement strategy.

SAP Standard defaults the following scenario:

An asset can only be capitalized when the asset is in use/productive. This means the deliverable/asset must be completed.

This is the same as the status TECO (technically complete). When you capitalize (settle to asset), then the system takes the date when the WBS status changed to TECO, and defaults this date as the asset value. All the line items in the WBS will therefore assume the TECO date of the WBS and that is why all the line items in the WBS have the same asset value date.

All the individual line items contributes together to one unique asset, and all have the same value date of the unique asset, which was derived, from the TECO date of the WBS.
This can be adjusted and changed in the FI-AA module, but make sure you understand the implications. The asset value date is used to derive the start date for depreciation, and depreciation is normally governed externally by a governmental institution, and your company must adhere to this external requirements. Consult with your company's auditor/financial executive to get the applicable rules and make sure your settings faals within this requirements.