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 

1. Open Sage Fixed Assets - Deprecation.
2. Go to Asset, then Asset List.
3. Select the Asset Detail view of the asset you’re transferring.
4. Select the Asset menu, click Transfer.
5. On the Asset Transfer dialog: Enter the Transfer Date and press Tab to activate.
6. 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 dropdown box.
7. Click OK, then Yes to complete the Transfer.

When Transferring to another company

• If the destination company isn’t available in the dropdown 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 dropdown.
• 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.  You'll need to replicate the asset, inactivate the transferred asset, and edit the replicated asset instead. 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