Recording transfer of assets

This page allows you to transfer an asset from one finance book to another finance book of the same company. Further, it allows you to transfer an asset from one asset class to another asset class within the same finance book or between two finance books. Tell me more.

Select the “Record Asset Transfer ” link under the “Asset Disposal” business component to record transfer of assets from one asset class to another or from one finance book to another or both.

The “Record Asset Transfer”” page appears.

The system displays the following:

Status	The status of the transfer.
	Transfer Out – indicates that the asset has been transferred out of the asset class/finance book and the transfer receipt is yet to be acknowledged. Transferred – Indicates that the transfer receipt has been acknowledged.

Enter the following fields in the “Transfer Information” group box:

Transfer No.

A unique number identifying the transfer (Alphanumeric, 18). Mandatory. This number is generated and displayed by the system, when the “Transfer Asset” pushbutton is clicked. The number is displayed with the corresponding prefix and suffix of the numbering type selected in the “Numbering Type” field. The number is incremented from the last number available in the “Document Numbering Class” business component.

Note: This field must not be left blank if “Manual” is selected in the “Numbering Type” field.

Transfer Type	Use the drop-down list box to specify the type of transfer Mandatory. You can select from Inter FB Transfer or Asset Class Transfer.
Transfer Date	The date on which the asset is transferred (Date Format). Mandatory. The date entered in this field must be before the system date. This date must also be a valid one in an “Open” or “Provisionally Closed” financial period.
From/To Finance Book	Use the drop-down list boxes to select the finance books between which the transfer will have to be effected. All the active finance books that have been mapped to the login organization unit will be available for selection in the ascending order. Note the following: If the transfer type is ‘Inter FB Transfer’, then select the ‘to finance book’ different from the ‘from finance book’. Asset class transfers can also be recorded inside an inter FB transfer. If the transfer type is ‘Asset class Transfer’ then recording inter FB transfer is not possible and hence, the drop down box ‘to finance book’ will not get loaded with any value. By default the system leaves this field blank.
Numbering Type	Use the drop-down list box to select the numbering type for the login organization unit and the “Inter Finance Book Transfer” transaction type. The numbering types must have already been defined in the “Create Numbering Class” activity of the “Document Numbering Class” business component and must be in “Active” status. The system displays the numbering type set as default for the transaction in the “Document Numbering Class” business component.

Enter the following fields in the “Search Criteria” group box to retrieve the assets that have to be transferred:

Asset No From	The starting code in the range of codes identifying the assets that you want to retrieve (Alphanumeric, 18).
To	The ending code in the range of codes identifying the assets that you want to retrieve (Alphanumeric, 18).
Asset Class #	Use the drop-down list box to select the code identifying the class to which the asset belongs. All the asset classes that have been defined in the “Create Asset Class” activity of the “Asset Type Definition” business component and that are in the “Active” status will be available for selection in the ascending order.
Tag No From	The starting code in the range of codes identifying the asset tags for which you want to retrieve the assets (Integer).
To	The ending code in the range of codes identifying the asset tags for which you want to retrieve the assets (Integer).
Asset Location Code	The code identifying the location in which the asset that you want to transfer is available (Alphanumeric, 20). This location must have been defined in the “Create Asset Location” activity of the “Asset Location” business component and must be in the “Active” status.
	Help facility available
Asset Group Code	The code identifying the group to which the asset belongs (Alphanumeric, 25). The asset group must have defined in the “Create Asset Group” activity of the “Asset Type Definition” business component and must be in the “Active” status.
	Help facility available
Asset Description	The textual description of the asset that you want to retrieve (Alphanumeric, 40).
Tag Description	The textual description of the asset tag (Alphanumeric, 40).
Cost Center	The code identifying the cost center that has been mapped to the “Asset Disposal Account” (Alphanumeric, 10). The cost center must have been defined in the “Create Cost Center Element” activity of the “Cost Setup” business component.
Analysis #	The code identifying the analysis code that has been mapped to the “Asset Disposal Account” (Alphanumeric, 10).
Subanalysis #	The code identifying the subanalysis code that has been mapped to the “Asset Disposal Account” (Alphanumeric, 10).

Click the “Search” pushbutton to retrieve the asset information.

The system retrieves and displays the following in the “Asset Information” multiline based on the search criteria entered:

Asset No	The code identifying the asset.
Asset Description	A textual description of the asset.
Asset Group Code	The code identifying the group to which the asset belongs.
Tag No	The code identifying the asset tag.
Tag Description	A textual description of the asset tag.
Asset Class Code	The code identifying the class to which the asset currently belongs. The system lists all the active asset classes for selection. To record asset class transfer, change the value defaulted by the system in this field, against the relevant asset-tag. By default the class to which the asset & tag currently belongs to, will be defaulted.
Note: For the transfer type ‘asset class transfer’, atleast for one of the asset-tags, asset class transfer should be recorded.
Depreciation Category	The code identifying the depreciation category. Ensure that the value in this field is applicable to the asset class if the asset class is modified for any of the asset – tag combination. By default the system displays the depreciation category that is associated to the asset class to which the asset-tag is currently mapped.
New Asset No.	The code identifying the new asset number generated for the asset and tag where asset class has been modified. Ensure that no value is specified in this field to specify a system-generated asset number. Note that the system retains the existing asset number. if all the tags of an asset are moved to one new asset class. But, if a more than one tags of an asset are moved to a new class or if all the tags are moved to different asset classes, the system generats a new asset number for each modification to the asset class.
New Tag No.	The code identifying the new tag number generated.
Asset Location Code	The code identifying the location in which the asset is available.
Cost Center	The code identifying the cost center that has been mapped to the asset.
Tag Cost	The current cost of the asset tag.
Cumulative Depreciation	The cumulative depreciation of the asset.
Tag Book Value	The book value of the asset-tag as on the system date.

Enter the following field in the “Asset Information” multiline:

Remarks

Any observations pertaining to the transfer of the asset (Alphanumeric, 255).

Check the box in the “Select” column of the multiline to mark an asset for transfer
Click the “Preview Depreciation” pushbutton to retrieve the depreciation details of the asset.

The system retrieves the cumulative depreciation value in the respective field.

The system posts for depreciation upto the date of transfer in the transferor books using the depreciation category that is mapped to the asset class to which the asset-tag that is getting transferred is currently associated.

Click the “Confirm Transfer Asset” pushbutton to transfer the asset.

Note: Manual recording of transfer receipt is mandatory for both inter FB transfers as well as where an asset class transfer is effected under the transfer type ‘inter FB transfer’

The system generates a unique transfer number if “Automatic” numbering type has been opted for.

The system saves the transfer details along with the transfer number and updates the status of the transfer to “Transfer Out” if the “Automatic Confirmation of asset class transfer” field of the “Company Parameter Setup – Fixed Assets Management” is set as “No”, If this parameter is set as ‘yes’ then, transfer receipt is automatically acknowledged and the status of the transfer note will be updated as ‘Transferred’.

The system also transfers the depreciation history along with the asset to the selected asset class and finance book.

To proceed, carry out the following

Select the “Accounting Information” link at the bottom of the page to view the posting details of the transfer.

Refer “Viewing account posting information – An overview” for more details.

Recording transfer of assets between finance books – An overview

Finance Book Transfer

This page allows you to transfer an asset from one finance book to another finance book of the same company. You can select the code identifying the finance book from which you want to transfer the asset. You can also select the code identifying the finance book to which you want to transfer the asset.

You can search and select the asset that you want to transfer from the finance book. You can search by specifying a range of assets and the tags that you want to retrieve. You can also carry out a search based on the class and group to which the asset class belongs, the description of the asset and the asset tags. You can also search based on the location in which the asset is available and the cost center to which it has been mapped. The system retrieves the asset information based on the search criteria entered.

The system transfers the details of the assets to the destination finance book. The system also transfers the depreciation history of the asset along with the asset details. The status of the asset is updated as “Transfer Out”.

Asset Class Change

The asset transfer can happen between two asset classes within a same finance book by selecting the transfer type as ‘asset class transfer’ or between two finance books by selecting the transfer type as ‘inter FB transfer’. You can select the code identifying the Asset class and Finance book from which you want to transfer the asset. You can also select the code identifying the Asset class and Finance book to which you want to transfer the asset.

The system transfers the details of the assets to the destination Asset Class and destination finance book. The system also transfers the depreciation history of the asset along with the asset details. The status of the asset is updated as “Transfer Out”.

Prerequisite

Mandatory

“Numbering Type” must have been defined in the “Create Numbering Class” activity of the “Document Numbering Class” business component.
“Depreciation and Cumulative Depreciation” account codes must have been mapped to the asset class in the “Create Asset Account Definition” activity of the “Account Rule Definition” business component.

Optional

“Cost Center Applicable” must be set to “Yes” in the “Set Common Parameters” activity of the “Company Parameter Setup” business component to use the cost center.
“Cost Center” must have been defined in the “Create Cost Center / Unit” activity of the “Cost Setup” business component.

What you can do in this page

Retrieve asset depreciation history

You can transfer the depreciation details of the asset along with the asset to the destination finance book.

Check the box in the “Select” column to mark an asset for which you want to retrieve depreciation details.
Click the “Preview Depreciation” pushbutton.

The system retrieves the cumulative depreciation value in the respective field.