Transferring individual assets

You can transfer an entire asset or perform a partial transfer of an asset to a new company, location, or division. When transferring to a new company, some of the existing asset information must be the same for both companies.

Transfer individual assets

Access Transfers (AM30.1).
Specify the transfer information, including the number of the asset to be transferred.
Select the Inquire form action.
Define the information to transfer. Specify this information:

Asset

Inquire on the asset you want to transfer.

Transfer Date

The transfer date must be within the current year as defined for all books attached to the asset.

Transfer

Select whether to transfer the entire asset (option F = Full) or part of the asset (option P = Partial). The default is F (Full).

If you select P (Partial) and add this form, the program will transfer you to Items (AM30.2) where you will select the items and quantities to be transferred.

Asset Transfer , Account Transfer tabs

When you inquire on the asset you want to transfer, the existing From field values default to the corresponding To fields. If you clear the default value from a To field, you must replace it with the correct value – the From value will no longer be assumed.

For example, if the asset has a tag and you clear the tag in the To field without replacing it with a new tag or retyping the old tag name, the asset is transferred without a tag.
Select the Book Selection tab to map the book transfer of assets.
Select the book(s) you will transfer from and the book(s) you will transfer to.

Note: Currency translation is done at the exchange rate of the asset basis. YTD and LTD depreciation is done at the "to" company's book currency.
If you are transferring less than the total number of items for the asset, the application navigates to Items (AM30.2).

Note: When the transfer process is complete, the items selected for transfer become a separate asset and are assigned a new asset number.
Select the items to be transferred.

If you select to transfer the asset or portion of the asset to a different company, or if you select to change the type, subtype, or accounting unit group, the system navigates to Journal Entries (AM30.3).

If the Display Journal Entries system option is set to N (No) on System Options (AM16.1), journal entries are added without being displayed. You can still open Journal Entries (AM30.3) to see what journal entries were added and to modify them at any time before you release the transfer.
Accept, change, or delete a system-prompted journal entry.
1. Verify journal entry.
2. Change any data in the journal entry, if necessary.
3. To accept a journal entry, select Add. The transfer is added.
  
  or
  
  To delete the journal entry, close the form without choosing Add. The transfer is added, but the journal entry is not recorded.
  
  Note: You can select to view the information that has been transferred from or transferred to, but you cannot view both.
Verify the accuracy of transfers by running the Transfer Report (AM230) with N (No) in the Release field to produce a report of transfers to be verified.
If any information is incorrect on AM30.1, change or delete the transfer on AM30.1.

Release the transfer.


Release Method	Options
Batch	Run Processing Release (AM170). This will also transfer journal entries to General Ledger.
Online	Use the Release form action on AM30.1

Note: This procedure can transfer journal entries to the General Ledger Strategic Ledger applications. The journal entries are posted as part of the General Ledger and Strategic Ledger processing cycles.

Related reports and inquiries


To	Use
List assets transferred during a specified transfer date range or all recent transfers not yet updated by book.	Transfer Report (AM230)
List items transferred during a specified transfer date range or all recent transfers not yet updated by book.	Item Transfer Report (AM235)
List transactions by transaction type and date range. You can view posting date, asset, tag, account, and transaction amount by process type.	Transaction Analysis (AM80.1)
List new assets created by partial transfers.	Asset Analysis (AM70.1)