Entering Asset Split Information

Access the Work With Assets form.

After you select an asset on the Work With Assets form, you will split assets using the Asset Split form.

To enter asset split information:

1. Click Find on the Work With Assets form to view all assets.

   To limit your search, click the tabs in the header area of the Work With Assets form and complete the appropriate information.

   When you are searching for an asset on the Work With Assets form, the Skip To Description and Skip To Asset fields in the header area and the query-by-example fields in the detail area do not display data if asset descriptions have been translated or if the language preference is activated. However, the Description - Compressed field shows data if the descriptions have been translated; you can conduct your search through this field.

2. Select the asset that you want to split.

3. Select Asset Split from the Row menu.

4. Complete these fields on the Asset Split form, and click OK to create a batch for the split journal entries:

   • Explanation

     Enter a description, remark, explanation, name, or address.

   • G/L Date

     Specify the date that identifies the financial period to which the transaction will be posted. You define financial periods for a date pattern code that you assign to the company record. The system compares the date that you enter on the transaction to the fiscal date pattern assigned to the company to retrieve the appropriate fiscal period number, as well as to perform date validations.

   • Method (A / U / %)

     Enter the code that specifies which method the system uses when it allocates costs and units during an asset split. Values are:

     A: Assigns the currency amount that you enter for the new assets.

     The system creates a ratio based on the amount that you enter for the new assets and the amount that remains for the original asset. The ratio determines the number of units that will be distributed to the new and original assets.

     U: Assigns the unit amount that you enter for the new assets.

     The system creates a ratio based on the units that you enter for the new assets and the units that remain for the original asset. This ratio determines the currency amount distributed to the new and original assets.

     %: Distributes the cost and units based on the percentage amount you enter.

     Blank: Distributes the cost and units based on the cost and unit amounts you enter.

     The system does not perform any ratios.

   The system assigns a batch number that remains the same until you leave the Asset Split program. You can include journal entries that are related to multiple asset splits in a single batch.

   The current information for the asset appears.

5. Complete one of these fields, based on the method that you entered, to establish information for the new asset:

   • If the method is either A or blank, complete the Asset Cost field.

     The asset cost is the original acquisition cost of an asset.

   • If the method is U, complete the Asset Quantity field.

   • If the method is %, complete the Percent field.

     The percentage relationship of the cost of an asset to the total cost of the asset from which it is being split. Use the percentage method to fully deplete an original asset cost and split it into one or more new assets. When you deplete the original asset 100 percent, you prevent it from having any remaining balance amounts due to rounding.

6. Complete the New Asset Description field.

7. (Optional) Complete these fields:

   • Asset Number

   • Unit Number

   • Serial Number

   To maintain the integrity of the fixed asset records, the system prevents an asset from being split into an existing asset number. When you split an asset, the system assigns the new asset a number from Next Numbers, or you can assign an asset number to the new asset.

8. Click OK.

   The system updates the Remaining Cost and Quantity fields, based on the asset cost and quantity amounts that you enter. A verification message appears on Asset Split.

9. Click Yes to accept the transaction.

   After you accept an asset split transaction, you cannot delete the split.

   The program edits the information and clears the form. The system creates posted journal entries for the split to the Account Balances table (F0902). When you click Cancel, the system submits the batch for posting to fixed assets with the document type AS (Asset Split).

10. Select Split Inquiry from the Form menu on the Asset Split from to view the transactions.

11. Review the transactions on the Work With Journal Entries from.

12. Click Close to return to the Work With Assets form.

13. Click Cancel on the Asset Split form.