Transfer an asset between companies

The Transfer feature is only available in the Sage Fixed Assets Depreciation, Depreciation Network and Premier Depreciation products.

Transfer to a current or another company 

• Open Sage Fixed Assets - Deprecation.
• Go to Asset, then Asset List.
• Select the Asset Detail view of the asset you’re transferring.
• Select the Asset menu, click Transfer.
• On the Asset Transfer dialog: Enter the Transfer Date and press Tab to activate.
• Select Current Company or To Another Company:
  • If transferring to another company: Select the Company/Database you're transferring the asset to.
  • If transferring within the same company: Select the appropriate value for the Transfer By in the drop-down box.
• Click OK, then Yes to complete the Transfer.

When Transferring to another company

• If the destination company isn’t available in the drop-down box, check the Business start date. (See note below)
• If you entered the asset into the wrong company, inactivate it. Then enter it as a new asset in the correct company instead. The system will record all depreciation there. If you transfer one or more assets, the assets use transfer rules.

 NOTE: You can't transfer if the asset's Placed-in-Service Date is before the Business Start Date of the company you're transferring to. 

When transferring within the same company

• There in only one General information field available to change on a transfer: Transfer By which defaults to the Location field

Important Information

• You don’t need to change the Transfer By field to transfer an asset within the same company.
• To change the Transfer By field: Go to File, Edit Company and select the desired field from the drop-down.
• In the transfer year, the asset won’t show previous Year To Date (YTD) depreciation. The original portion takes depreciation.
• This is by design so that the program doesn't double-dip in depreciation.
  • The formula is missing the original YTD depreciation and therefore doesn't tie out:

    Prior Accum + original YTD depreciation + child asset YTD depreciation = Current Accum.

The result of a transfer is a new asset. Change General Information fields (except for the Transfer By field) in the child of a transfer to match the new location/company.   CAUTION: Don’t edit the book information on an asset created by a transfer in any way.  See Beginning Date is the only option when changing Critical Fields for more information

How to undo a transfer
Transfer To: company not available in the transfer list
Transfer to: company not in list