Transfer one asset or a portion of an asset
Assets can be transferred to a different activity or to one of 4 associations within the same activity. Eligible associations include: cost center, department, division, and location. Use the following procedure to enter and update transfer information for a single asset. This information enables the application to properly calculate current depreciation and delete the original asset after the current year, when necessary.
note
- The current depreciation will calculate through the end of the month prior to the transfer date on the original asset, and then will make a copy of the asset and assign the balance of the current depreciation for that year (or depreciation period) to the newly created asset.
- Disposed and current-year assets can't be transferred.
- Open the client and, if necessary, select an activity folder.
- If you want to transfer a portion of an asset, divide the asset containing the portion you want to transfer.
- Select the asset you want to transfer and select theModifybutton.
- In theAsset Detailwindow, select theTransfertab.noteIf the selected asset has been disposed or was placed in service in the current year, the fields in theTransfertab are not available.
- In the Transfer-Out group box, enter a date in theDate of transferfield in MMDDYY format.
- In theType of transferfield, select eitherActivityor an association from the dropdown list. Eligible associations, which must be set up for the asset, include cost center, department, division, and location.
- In theTofield, select the activity or association to which you want to transfer the asset. The options available in the dropdown list depend on the selection in theType of transferfield.
- Select a treatment from theTreatmentdropdown list to view the cost/basis and total depreciation for the new asset.
- SelectDoneto complete the transfer and return to theAsset Listwindow. The application creates a new asset based on the information you entered and modifies the original asset based on the transfer.
