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Fixed Assets CS Support

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.
  1. Open the client and, if necessary, select an activity folder.
  2. If you want to transfer a portion of an asset, divide the asset containing the portion you want to transfer.
  3. Select the asset you want to transfer and select the
    Modify
     button.
  4. In the
    Asset Detail
     window, select the
    Transfer
     tab.
  5. In the Transfer-Out group box, enter a date in the
    Date of transfer
     field in MMDDYY format.
  6. In the
    Type of transfer
     field, select either
    Activity
     or an association from the dropdown list. Eligible associations, which must be set up for the asset, include cost center, department, division, and location.
  7. In the
    To
     field, 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 the
    Type of transfer
     field.
  8. Select a treatment from the
    Treatment
     dropdown list to view the cost/basis and total depreciation for the new asset.
  9. Select
    Done
     to complete the transfer and return to the
    Asset List
     window. The application creates a new asset based on the information you entered and modifies the original asset based on the transfer.
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