Splitting an Asset in Multiple Books

You can perform one split transaction per asset to generate the general ledger results that will be posted to different books. New assets created because of the split transaction will have the same set of alternate and tax depreciation as the original asset. An acquisition history record is created to reduce the amount of the original acquisition cost. A depreciation history record will also be created to reduce the depreciation amount and a journal entry will be generated if the asset is attached to an accounting book or tax method. Tax methods that are not associated to an accounting book will still record depreciation history records, but will not generate journal entries.

To split an asset, follow the procedure in Asset Split.

Related Topics

Fixed Assets Management Overview
Setting Up the Fixed Assets Management System
Asset Types
Updating Fixed Assets Management Records
Creating Asset Records from Transactions
Managing Assets

Fixed Asset Recovery Script

Asset Reports
Background Processing of Fixed Assets

General Notices