Asset transfer
You can transfer an asset or a group of assets to a new general ledger account, property tax location, physical location, structure, or master asset ID. You also can transfer an asset or a group of assets from one company, the originating company, to a different company, the destination company.
When you transfer an asset or group of assets, depreciation will be calculated through the transfer date using the current account numbers. Depreciation using the new account numbers will begin on the day after the transfer date. If the transfer date is earlier than the date through which the asset has been depreciated, depreciation will be backed out to the transfer date using the current account numbers.
The following information is discussed:
-
Transferring asset record information
-
Partial transfer options
-
Partially transferring an asset
-
Transferring multiple assets
-
Intercompany asset transfer process
-
Transferring an intercompany asset record information
-
Transferring multiple intercompany assets
Transferring asset record information
Use the Transfer Maintenance window to transfer an asset to a new General Ledger account, property tax location, physical location, structure, or master asset ID for an individual asset.
To transfer asset record information:
-
Open the Transfer Maintenance window. (Financial >> Transactions >> Fixed Assets >> Transfer)
-
Enter or select an asset ID. Only active assets—assets that are not retired—can be transferred.
-
Enter the transfer date. The transfer date must be in the current fiscal year.
-
Enter or select the new asset information. Choose the G/L Accounts expansion button to open the Expand Transfer window and enter or select new account numbers. Do not delete account numbers that are not changing.
-
Choose Transfer and verify the transfer results using the Transfer Inquiry, Asset Book Inquiry, or Financial Detail Inquiry windows. The Transfer Report can also be printed. A separate audit record that you can print is created each time an asset is transferred.