Transferring assets from one location to another

This activity allows you to transfer the assets from one location to another or from one cost center to another. Tell me more.

Select the “Location \ Cost Center Transfer” link under the “Asset Inventory” business component.

The “Location \ Cost Center Transfer” page appears.

Enter the following fields:

Transfer Date	The date on which the asset is transferred from one location to another or one cost center to another (Date Format). Mandatory. The transfer date must be greater than the system date. The system displays the current system date by default.
Receipt Confirmation Required	Use the drop-down list box to specify whether you need a confirmation from the receiving location. Select “Yes” in case you need the confirmation from the receiving location or cost center. The options available are “Yes” and “No”.

Enter the following fields in the “Search Criteria” group box to search for the asset, which is to be transferred.

Asset Location Code

The code identifying the location in which the asset exists (Alphanumeric, 20). The asset location must be defined in the “Create Asset Location” activity of the “Asset Location” business component. Enter the code in full or specify it partially using the * character. The system retrieves the asset whose location code is similar to the value entered here.

Note: The asset location business component must be mapped to the “Asset Inventory” business component.

Asset Class Code	Use the drop-down list box to specify the code identifying the asset class. All the asset classes defined in the “Create Asset Class” activity of the “Asset Type Definition” business component are available for selection. The system displays “All” by default.
Asset Group Code	The code identifying the group to which the asset belongs (Alphanumeric, 25).
	Help facility available.
Asset Number	The number identifying the asset (Alphanumeric, 18). The assets must be defined in the “Create Simple Asset” activity or “Create Complex Asset” of the “Asset Capitalization” business component.
	Help facility available.
Asset Description	The textual description pertaining to the asset (Alphanumeric, 40). Enter the description in full or specify it partially using the * character. The system retrieves asset, whose descriptions are similar to the value entered here.
Finance Book	Use the drop-down list box to select the code identifying the finance book in which the asset details are to be posted. All the finance books mapped to the Capitalization component to which Asset inventory component at login organization unit are listed in the drop-down box. The system displays the first finance book in ascending order by default.
Tag No.	The number identifying the asset tag (Integer). The asset tags must be defined in the “Create Simple Asset” or “Create Complex Asset” activity of the “Asset Capitalization” business component.
	Help facility available.
Tag Description	The textual description pertaining to the tag description (Alphanumeric, 40). Enter the tag description in full or specify it partially using the * character. The system retrieves asset tags, whose descriptions are similar to the value entered here.
Cost Center	The code identifying the cost center from which the asset is transferred (Alphanumeric, 10). The cost center must be defined in the “Create Cost Center/Unit” activity of the “Cost Setup” business component. Help facility available.
	Enter the cost center in full or specify it partially using the * characters. The system retrieves the assets whose cost center is similar to the value entered here.

Click the “Get” pushbutton to retrieve the assets details in the multiline.
Enter the following fields in “Destination Details” group box to default the location code and the cost center in the multiline:

Receiving Location Code

The code identifying the location to which the assets have to be transferred (Alphanumeric, 20). The asset location must be defined in the “Create Asset Location” activity of the “Asset Location” business component.

Help facility available.

Receiving Cost Center

The code identifying the cost center to which the assets have to be transferred (Alphanumeric, 10). The cost center must be defined in the “Create Cost Center/Unit” activity of the “Cost Setup” business component.

Help facility available.

The system displays the following fields in the “Transfer Information” multiline based on the search criteria specified:

Note: The system retrieves the asset, which are not included in the inventory sheet.

Asset No.	The number identifying the asset.
Tag No.	The number identifying the asset tags.

Enter the following fields:

Receiving Location Code	The code identifying the location to which the assets have to be transferred (Alphanumeric, 20). The asset location must be defined in the “Create Asset Location” activity of the “Asset Location” business component.
	Help facility available.

The receiving location code and the asset location code must not be the same.

Receiving Cost Center

Note: The system displays the default location code and the cost center if it is specified in the “Destination Details” group box.

Either receiving location or the receiving cost center must be entered in the multiline.

Remarks

Any remarks on transferring the assets from one location to another (Alphanumeric, 255).

The system displays the following fields:

Asset Location Code	The code identifying the location in which the asset exists.
Cost Center	The code identifying the cost center.
Asset Class Code	The code identifying the class to which the asset belongs.
Asset Group Code	The code identifying the group to which the asset belongs.
Asset Description	The textual description pertaining to the asset.
Tag Description	The textual description pertaining to the asset tag.

Check the box in the “Select” column of the multiline to mark the assets for transfer.
Click the “Transfer Asset” pushbutton to transfer the asset.

The system updates the tag status to “In Transit” if the “Receipt Confirmation Required” field is set to “Yes”.

The system updates the tag status to “Transferred” if the “Receipt Confirmation Required” field is set to “No”.

When Receipt Confirmation required is set to “yes”, the system also stores the Receiving location code or Receiving cost center, along with transfer date, remarks and updates the transfer status to ‘In Transit ‘ in Asset Capitalization along with transfer date.

When Receipt Confirmation required is set to “No”, the system updates the Asset location code to “Receiving location code” or the Asset cost center to ‘Receiving cost center” along with transfer date and updates transfer status to “Transferred”. The System also stores the history details of asset location or cost center transfer in Asset capitalization.