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Transfer Depreciation/Disposals

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Fixed Assets FAQs

Transfer Depreciation/Disposals - Transaction Information Tab

Access this tab using Activities>Fixed Assets>Transfer Depreciation/Disposals.

Use this tab to enter Session and Document Information for the posted transactions (JVD) that are generated by this process.

Note: We recommend running the Pre-Transfer Depreciation/Disposal Register prior to transferring calculated, adjusted, and disposed depreciations, and asset disposals. If you have already transferred, use Reports>Transaction Reports>Unposted General Ledger Transactions to review the post-transfer data.

Session Information

  • Session ID: Enter a unique session ID. The Drop-Down Lookup displays existing IDs that cannot be reused. We recommend using all numeric IDs. Numeric IDs are generally easier and faster to enter during transaction entry. We also recommend limiting your entry to strictly alphabetic characters (A through Z) or numeric characters (0 through 9), and avoiding the use of symbols.
  • Session Date: Enter a valid session date.
  • Description: Enter a description for the session.

Document Information

  • Number: Enter a beginning document number. This is the first document used for the transaction entries generated. There is one document number for each asset when transferring in detail. When transferring in summary, there is one document for each depreciation date, type, and account code combination to be transferred; therefore, you may have multiple documents within a session.
  • Document Date: Enter a valid document date. This date serves as the effective date in the transaction entries.
  • Description: Enter a description for the document.

  • Use the Pre-Transfer button to generate JVD transaction entries and open the Reports>Fixed Assets>Pre-Transfer Depreciation/Disposal Register. This report is used to print the data entered on this form prior to transfer.
  • When setting up or importing assets, verify that the Accumulated Depreciation Amount and Months Depreciated are correct before transferring to your general ledger. If you have not already done so, make a journal voucher entry (Transactions>Enter Journal Vouchers) to record the cost and accumulated depreciation amounts.
  • When you close a fiscal year, you will not be able to depreciate assets (Activities>Fixed Assets>Calculate Depreciation) that have a Last Depreciation Date within that fiscal year. Furthermore, if the asset has a Status of Discontinue/Disposed, it cannot be changed after the year is closed.
  • If you need to add Basis to an Active asset that is fully depreciated, you will need to create a new asset if the Last Depreciation Date for the asset is in a closed year. Depreciation cannot be transferred to a closed year (Activities>Fixed Assets>Transfer Depreciation/Disposals).
  • If you need to dispose of an asset with a Zero Book Value, you should select a status of D - Discontinued/Dispose on the Maintain>Fixed Assets>Assets>Asset tab.