Transferring assets

Use this procedure to transfer a whole asset or part of an asset.
  1. Select Assets.
  2. On the Released tab, open an asset record.
  3. Click Transfer.
  4. Specify this information:
    Transfer Quantity
    You can override quantity of the asset.
    Transfer Date
    Select the effective date of the asset transfer. The asset's transfer date cannot occur before the asset purchasing date.
    Company
    You can override the company number.
    Tag Number
    Specify the tag number for the asset.
    Asset Group
    Select the asset group of the asset.
    Location
    Select the location of the asset.
    Division
    Select the division of the asset.
    Asset Type
    You can override a type and subtype of the asset.
    Asset Account Group
    You can override the account group of the asset.
    Asset Dimension Group
    You can override the transaction dimension group of the asset.
    Default Transaction Dimensions
    Specify the account information in the default transaction dimensions.
    Asset Owner
    Select the asset owner.
    Depreciation Expense
    Select the project for the depreciation expense.
    Asset
    Select the project for the asset.
    Transfer out
    Optionally, on the Transfer Balancing Accounts section, specify the account to use for Transfer out balancing transactions when transfer balancing is enabled for the asset company. If left blank, the default Transfer out account defined on the asset type is used.
    Transfer in
    Optionally, on the Transfer Balancing Accounts section, specify the account to use for Transfer in balancing transactions when transfer balancing is enabled for the asset company. If left blank, the default Transfer in account defined on the asset type is used.
  5. Click Next.
  6. Select whether to release the transfer, reset the transfer, submit the transfer, or continue the transfer, leaving the asset in Progress status.
    Note: If the Approval Required option has been enabled at the company level, the Submit for Approval option will be available instead of Release on the asset.

    Resetting is still available until you select Submit For Approval. To verify submitted assets for approval, navigate to Assets > Waiting For Approval.