Splitting an Asset
Divide a single asset into new records by selecting the source asset on the Asset Split page. You can enter split quantities and adjust values to create new assets.
To split an asset:
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Go to Fixed Assets > Transactions > Asset Split.
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In the Asset ID/Name field, select an asset to split.
The Split Details subtab becomes available when you select an asset. The Alternate Depreciation subtab shows the tax methods linked to the selected asset. Assets generated after the split inherit the original asset's alternate depreciation. New asset values are calculated based on the ratio of the split quantity.
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In the Split Details subtab, under the Assets Generated from Split sublist, enter the Split Quantity and click Add. Repeat this step for each asset record that you want to create from the split.
The Split Details subtab lists details of both the original and new assets after the split. New asset values are calculated based on the split quantity. These values can be edited. The following conditions are applied when you modify the split details:
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The split quantity can't be zero.
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The net book value can't exceed the current cost for both the old and new assets.
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The sum of the net book value and depreciation to date must equal the current cost.
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The last depreciation amount can't exceed the depreciation to date.
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The residual value can't exceed the current cost and net book value for both the original and generated assets.
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New asset values can't exceed the original asset's values.
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Click Split to create a new split asset and update the original asset.
You'll be redirected to the Process Status page, where you can track the asset split's status. For more information, see Asset Split Process Stages.