Transferring Assets Across Asset Types

Changing the asset type also updates the general ledger asset, depreciation account assignments, and asset life. The last posted amounts for the current cost and cumulative depreciation are carried over from the old to the new accounts through sale and reversal transactions. The asset inherits the asset life of the new asset type.

The system tracks historical records of asset activities for both the accounting and alternate/tax methods.

Tax methods with accounting book values on the original asset type must exist on the default alternate depreciation list of the destination asset type. Otherwise, the transfer won't be processed. See the following example:

General Notices