Related topics

Transferred Assets on Reports

Transferring Assets: An Overview

Transferring a Whole Asset

Partially Transferring an Asset

Asset Transfer Window

Follow the guidelines provided below to complete the fields on the Asset Transfer window in Asset Detail, or to view transfer information.

Items in this window

Item Notes
Transfer Date Enter the date of the transfer. The transfer date cannot occur before the current depreciation through date, since the system will last calculate depreciation for it through the end of the month preceding the transfer date. The transfer date is the date that ends depreciation for the original asset (the system calculates depreciation for it through the end of the month preceding the transfer date). Enter a date in MM/DD/YYYY format, or select the arrow button to display the popup calendar. The transfer date must be on or after the Beginning Date and after the Period Close Date on all open and closed books.
Destination Use this field to indicate whether the transfer is an intercompany transfer (to another company) or an intracompany transfer (within the same company). If you select another company, the system automatically completes the Transfer By and From fields, and displays the Database section of the tab.

If an asset is transferred to a company (destination company) that has more books, the additional books in the destination company will not be populated with data. If an asset is transferred to a company that has fewer books, only the existing books in the destination company will be populated with data.
Transfer By The system uses this field to indicate which descriptive field you are using to perform the transfer. For instance, for an intracompany transfer, you can transfer an asset from one Location to another, or from one G/L Account number to another.

For an intracompany transfer, you use the Company Setup (see New Company window) to indicate which descriptive field you want to use in this field. For an intercompany transfer, the system automatically sets this field to Company.
From The system uses this field to display the contents of the field displayed in the Transfer By field. For example, suppose you transfer assets between locations in your company. The system would display "Location" in the Transfer By field. In the From field, the system would display the name of the original location for the asset you are transferring (such as Store #2).
Database The system uses this field to display the original database for the asset that you are transferring. The system displays this field only during an intercompany transfer.
To During an intracompany transfer, use this field to select the SmartList entry to which you want to transfer the asset. If you need to select another field for transferring the asset, see Transfer By field in the Edit Company window. During an intercompany transfer, use this field to select the company to which you want to transfer the asset. If the company to which you want to transfer is contained in a database other than the current database, you must first change the Database field.
Database Use it to select the database in which the destination company is located. The system displays this field only during an intercompany transfer.
Partial Transfer? Use this field to indicate whether the transfer is a partial transfer or a whole transfer. Specify No for a whole transfer; specify Yes for a partial transfer. If you specify Yes, the system displays the Partial Transfer Book and Partial Transfer Amount fields.
Partial Transfer Book This option is available only during a partial transfer. Select the book that contains the Acquisition Value you want the system to use to determine the transfer percentage that will apply to all other books during the transfer. Because each book in the system can contain different Acquisition Values, you must tell the system which value to use to calculate the transfer percentage. For instance, if you select the Tax book Acquisition Value of an asset that is $100.00, and the transfer amount of the asset is $20.00, the application calculates a 20% transfer. The application applies a transfer percentage of 20% to the Acquisition Value amounts in the rest of the books.
Partial Transfer Amount This option is available only during a partial transfer. Enter a dollar value for the portion of the original asset being transferred. The system uses the dollar value to calculate the transfer percentage that applies to all books.
Transfer as Disposal? Use this field to indicate whether you want the system to treat the transferred portion of the asset as a disposal. If you select yes, the system displays the Transfer as a Disposal window. Treating the transferred portion of the asset as a disposal causes the system to calculate a gain or loss on the original asset or on a portion of the original asset during a partial transfer. This gain or loss amount appears only on a disposal report.
Edit General Info? Use this field to access the Edit General Information window. This window allows you to make changes to the descriptive fields of the transferred asset prior to creation. For instance, you can assign a new Owner.
Original Asset, Transferred Asset, and Remaining Asset The system uses these fields only to display transfer information; you cannot edit them. For more information, see Original Asset, Transferred Asset, and Remaining Asset.