Asset Accounting

Provide the ability to create transfer in and out offset transactions for fund clients

This feature is in the asset company when the new Update Transfer Balancing action is run. The Transfer Balancing field is updated on the asset company to contain yes and no selections. The default value is no. The new feature is limited to Fund Accounting customers.

After transfer balancing is enabled, the From and To side transactions of an asset transfer are replicated. Their account is offset with the From or the To balancing account that is defined on the asset type record.

Before you enable this feature, run the Update Event Codes action on the finance enterprise group. You can also run the Update System codes.

1. Run the Update Transfer Balancing action to enable transfer balancing. Transfer in and out accounts are assigned to the Asset Types. Before you enable transfer balancing, all asset types must contain balancing accounts. Assign the balancing accounts when you enable the feature. Several balancing accounts by type can be maintained. Use the enable transfer balancing action after they are assigned using the enable transfer balancing action.
2. When you perform an asset transfer, the transactions can be offset on both the From and To side by replicating them. They are assigned a 'Transfer From or Transfer To Balancing Transaction' reference. Each is assigned the appropriate transfer in or transfer out account. Balancing transactions in general ledger are assigned the TB event code.
3. After transfer balancing is enabled, these balancing transactions use a unique balancing account for the asset system rather than using the CB and or ZB event codes.

   Note that the balancing transactions are created when the transfer is released.

JR-3353195