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Transfer Depreciation/Disposals

Fixed Assets Checklists

Fixed Assets FAQs

Transfer Depreciation/Disposals - Transfer Tab

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

Use this tab to transfer assets according to Calculation IDs, Category, or All Assets. You can transfer Calculated Depreciation, Adjusted Depreciation, and Disposed Depreciation/Cost. Depending on the amount of data you want to transfer, you can select a transfer type of Summary or Detail.

Click the Transfer button to start the transfer process, which creates JVD (Journal Vouchers - Depreciation/Disposals) transaction entries and posts them. Keep in mind, this process is very thorough and could be quite lengthy.

When you transfer, the system automatically updates the Maintain>Fixed Assets>Assets form for any depreciation. Consequently, Last Depreciation Date, Accumulated Depreciation Date, and Months Depreciated are updated. During the transfer process, assets for disposal cost information are updated. As a result, Cost, Salvage, Amount to Depreciate, Accumulated Depreciation Amount, and Life are updated.

Note: Since this process uses data from throughout the system, you cannot use any of the Fixed Assets features while the data is being transferred. However, if you have more than one license, you can log on as another user and access other features for the current organization or any other organization in the system.

Select Asset From

  • Calculation IDs: If you select this option button, all IDs that you created (Activities>Fixed Assets>Calculate Depreciation) display in the Transfer Items group box. Next to the ID, the system displays the date it was calculated.
  • Category: If you select this option button, all categories that you set up (Maintain>Fixed Assets>Assets) display in the Transfer Items group box. Remember, categories contain a group of assets. If you select a category, in essence, you are selecting all assets in the category.
  • All Assets: If you select this option button, all assets you create using the Assets form or the Asset Quick Entry form display in the Transfer Items group box. Next to the asset, the description displays. (When transferring adjustments or disposals, it is recommended that you use All Assets.)

Transfer Items: To choose a category, ID, or asset for transfer, select it in the Available Items box, and then click the Mover ( > ) to move it to the Selected Items box.

  • Available Items: This box displays assets, IDs, or categories depending on which option button you selected in the Select Asset From group box.
  • Selected Items: The items in this box are transferred when you click the Transfer button.

Type

  • Detail: If you select this option, there is a document for each asset within a session.
  • Summary: If you select this option, there is one document for each depreciation date, type, and account code combination. However, it is still possible to have multiple documents within a session. There will not be any asset ID information associated with the summarized entries.

Transfer

  • Calculated Depreciation: Select this check box to transfer calculated depreciation. You calculated depreciation using the Activities>Fixed Assets>Calculate Depreciation form.
  • Adjusted Depreciation: Select this check box to transfer adjusted depreciation. You made adjustments using the Activities>Fixed Assets>Review/Adjust Depreciation form.
  • Disposed Depreciation/Cost: Select this check box to transfer disposals. You calculated disposals using the Activities>Fixed Assets>Enter Disposals form.

  • 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.
  • 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.