Guidelines for Transferring Assets from One Book to Another

You can't transfer an asset:

That's backdated to the period in which the asset was added in the source book.
For which bonus depreciation has been calculated.
That's been revalued or impaired in the source book.
That's been added to a lease.

To continue the source asset's life and depreciation rules after the asset is transferred to another book, make sure you don't select the Inherit depreciation rules of destination category option and the Use transfer date as the date placed in service option on the Transfer Asset to Another Book page.

In the source book, there's no gain or loss when the asset is transferred at net book value. A gain or loss occurs only if the asset is transferred at an amount different from its net book value.

You must execute the transfer process individually in each of the tax books. The Mass Copy process isn't applicable for transfers across books.

If your source corporate book has more associated tax books than the destination book, you must either:

Manually retire assets for tax books without a corresponding destination book using the standard retirement feature.
Perform asset additions directly for these tax books, which are managed as normal addition transactions.

If the number of reporting currency books isn't the same in the source and destination books, use the Net book value method transfer type.

Use the conversion rate to convert the transfer amount, freight, nonrecoverable tax, and miscellaneous amounts in the source book to the destination book. You can't enter the destination transfer amount, freight, nonrecoverable tax, or miscellaneous amount in the destination book directly. Use the Destination Transfer Amount, Destination Freight Amount, Destination Nonrecoverable Tax Amount, and Destination Miscellaneous Amount columns (Columns AE to AH) in the Book Transfer worksheet of the Fixed Asset Mass Transfers file-based data import template to enter this information.

Only full transfers of assets are allowed. You can't perform a partial transfer of an asset.

You can transfer only capitalized assets from one book to another.

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

You can't transfer group assets and their member assets from one book to another. To transfer an asset that's a member asset, you must remove it from the group asset it's assigned to. It then becomes a standalone asset in the source asset book and can be transferred to the destination book.

Only the Net book value method transfer type is allowed for transfers across ledgers, because this asset transfer is treated as a related party sale.