Entering Asset Split Information

You must enter asset split information to indicate which assets you want to divide. You do not have to have an asset quantity greater than one to split the asset. When you split an asset, the journal entries for the split post to the same cost and accumulated depreciation account as the original asset. After you accept an asset split transaction, you cannot delete the split.

You can perform an asset split only if the asset has a single current location.

The system uses a percentage to calculate cost and accumulated depreciation for the split information that you enter on Asset Split. The system calculates this percentage, regardless of the method of split that you specify. When you exit the program, the system updates asset records, based on the percentage. If you review the asset split journal entries that the system creates, you might notice a rounding difference between the amounts that you entered and the amounts that post to cost and accumulated depreciation.

To maintain the integrity of the fixed asset records, the system prevents asset splits after the date that you dispose of the asset. You can split an asset only before its disposal date.

For retroactive splits, the amount that is defined as available for the split will equal the amount as of the specified GL date.