How to transfer an asset

In Sage Fixed Assets - Deprecation:

1. Go to the Asset Detail view of the asset to transfer, select the Asset menu, click Transfer:
2. On the Asset Transfer dialog: Enter the Transfer Date, press Tab to activate.
3. Select Current Company or To Another Company:.
   • If transferring to another company: Select the Company/Database the asset is being transferred to
   • If transferring within the same company: Select the appropriate value for the Transfer By in the drop-down box
4. Click OK, then Yes to complete the Transfer.

When Transferring to another company:

• If the desired destination company isn’t available in the drop-down box, check the Business start date of that company. The program won’t allow a transfer if the asset's Placed-in-Service Date is before the Business Start Date of the company you're transferring to. See Transfer To: company not available in the transfer list for more information
• If you entered the asset into the wrong company, inactivate it and then enter it as a new asset in the correct company instead. All depreciation will be recorded there. If you transfer one or more assets, they’ll be bound by transfer rules

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

Notes:

• 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 year of transfer, the transferred asset won’t show the existing Year To Date (YTD) depreciation before the transfer as it is taken by the original portion of the asset. 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
      

Note: 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.

Warning: Do NOT 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