Transferring Assets Across Classes, Departments, or Locations
When you transfer an asset to a new class, department, or location, the system carries its current cost and cumulative depreciation from the origin subsidiary to the destination subsidiary. Journal postings are generated only if the following settings are enabled:
-
Post on Location Change
-
Post on Class Change
-
Post on Department Change
For more information, see Setting Up the Fixed Assets Management System
The system tracks historical records of asset activities for the accounting method only. No historical records for alternate tax methods are created when transferring assets across classes, departments, or locations.
To post journal entry on location change, make sure that Post on Location Change is enabled in the System Setup page.
No journal entry is created for transfers to a class, department, or location, if the original transfer value is null.