Transfer Assets

You can transfer assets between employees, depreciation expense accounts, and locations.

Consider the following points when transferring assets:

• You can change the transfer date to a date in a prior period for a particular transfer, but the transfer must occur within the current fiscal year.

• You can change the transfer date of an asset to a prior period only once per asset.

• You can't transfer an asset to a future period.

• You can't transfer assets from one corporate book to another corporate book.

Transfer a Single Asset

In Assets, find the asset to be transferred and enter any applicable transfer information:

• Employee name and number

• Depreciation expense account

• Location

Examples:

• Transfer an asset to another employee within the same location, enter the employee name and number.

• Transfer an asset to another employee in a different location by entering the new location, in addition to the employee name and number.

Note: If you transfer an asset during the period in which it was added, the transfer date automatically defaults to the asset's date placed in service and you can't change it.

Transfer Multiple Assets

Transfer multiple assets by:

• Populating the Mass Transfers interface table

• Running the Post Mass Transfers process