Recategorizations and Transfers

Recategorizations and transfers on composite assets are performed at the composite level. Perform these transactions on composite assets as you would for any other asset by using the Asset Cost Adjust/Transfers component.

To transfer a composite asset:

1. Select Asset Management, and then Asset Transactions, and then Financial Transactions, and then Cost Adjust/Transfer Asset to access the Main Transaction page.

2. Select the Transaction Date, Accounting Date, Transaction Code, and Rate Type. Select Transfer in the Action drop-down list box. The Transaction Type for transfers is TRF.

3. Enter new ChartField information into the appropriate fields on the Cost Information page.

   PeopleSoft recommends that you change information one field at a time to establish an audit trail. For example, if you need to change the department and project, first enter the new department and save the change. Then go back and change the project.

   The Composite Asset may have several cost rows, each for a separate ChartField combination. These rows are the totals, by ChartField combination, of all the acquisition detail for the associated Composite Member Assets that have been capitalized into the Composite Asset.

4. Save your changes.

See Understanding Adjusting, Transferring, Reversing, and Evaluating Assets.