Transfer Assets to Another Book Within the Same Ledger

This task shows you how to transfer assets from one asset book to another when both the source and destination books are in the same ledger.

You must first complete these prerequisites before you can transfer assets from one book to another:

1. Use the Opt In page to enable the Fixed Assets Transfer Between Asset Books feature.
2. In the Setup and Maintenance work area, go to the Manage Asset Books task.
3. In the Manage Asset Books page, select the source book.
4. Click the Edit icon.
5. In the Edit book page, enable the Allow transfer to another book checkbox.
6. Click Save and Close.

To transfer assets to another book:

1. Navigate to the Assets landing page.
2. Click the Transfer Assets panel tab.
3. On the Transfer Assets page, select your source book and search criteria to search for the assets you plan to transfer.
4. Select the asset and click Transfer Asset to Another Book.
5. On the Transfer Asset to Another Book page, enter this information:

   Field	Value
   Destination Book	Select your destination book.
   Transfer Date	Defaults to the last day of the open period.
   Transfer Type	Gross method: The asset transfer is recorded as a transfer-out transaction in the source book and as a unique transfer-in addition in the destination book. Net book value method: The asset transfer is treated as a related party sale. In this case the transfer is documented as a specific book transfer retirement transaction in the source book and as a unique transfer-in addition in the destination book.
   Cost Basis	If you selected Gross method as the transfer type, the cost basis can be either: Cost and reserve of the source asset: The destination asset balances are initialized with the cost and reserve amount of the source asset. Net book value of the source asset: The destination asset cost is initialized with the net book value of the source asset. The depreciation reserve is initialized to zero.
   Posting Status	Automatically set to Post. To post the transaction later, you can change the status to New until you’re ready to post it.
   Destination Category	The asset category for the asset in the destination book. You can use the original category from the source book or choose a different asset category for the destination book. You can keep the depreciation rules from the source asset or opt for those of the destination book and category.
   Destination Asset Number	Enter a destination asset number or let the application generate it automatically. The asset number in the destination book must be unique.
   Destination Tag Number	Enter the source tag number or enter a new destination tag number. The tag number must be distinct across all books. You can retain the tag number for either the source or destination asset, but it can’t be the same in both the source and destination book.

6. In the Destination Asset Information section, enter any other information about the destination asset, if necessary.
7. In the Destination Assignment Details section, click the Add icon.
8. Enter the assignment details for the destination asset. You can change the depreciation expense account, location, and employee information when you transfer an asset to the destination book, but make sure the units in the destination book match the units in the source book.
9. Click Submit.
10. Go to the Scheduled Processes page and search for the Post Online Assets Transactions process that you submitted when you clicked the Submit button.
11. When the process has processed successfully, navigate to the Asset Inquiry page and search for the source asset number.
12. Select the source asset.
13. In the Books section, click Transactions.
14. The source asset now shows 0 for the cost, recoverable cost, depreciation reserve, and net book value.
15. In the Destination Book Details section, you can view information about the newly transferred asset, including the new asset number.