E1: 12: Overview Asset Transfer Setup (R12108) (Doc ID 1385334.1)

Last updated on JANUARY 02, 2024

Applies to:

Purpose

Overview

The Asset Transfer program (G1222/R12108) is used to change the accounting responsibility for assets.  The Asset Transfer program transfers the asset cost and accumulated depreciation amounts from one business unit or account to another in the Asset Account Balances table F1202 for all ledgers associated with the asset and updates the new account information in the Asset Master table F1201.   The entire asset account structure (Business Unit, Object, and Subsidiary) can be transferred or just a portion of the account structure can be transferred.  For example, a computer may be transferred from the Accounting department (Business Unit 10010) to the Marketing Department (Business Unit 100200) which would only be a change to the Business Unit.  There must be amounts recorded to the F1202 file in order for the transfer to transfer amounts and create journal entries.  If there aren't any amounts the system will just update the F1201 file based on the values entered into the processing options.

The Single Asset Transfer and the Mass Asset Transfer programs are the same program, the R12108.  Assets can be transferred individually or in mass quantities.  Data Selection is used to determine what assets are being transferred.

The Asset Transfer program (R12108) automatically updates the Asset Balance table (F1202) and the Asset Master (F1201) when run in Final mode.  The transfer journal entries must then be posted to the General Ledger using the General Ledger Post (G1222/R09801).

If just a portion of the cost is being moved from one asset to another asset journal entries can be used to transfer the amount.

The Asset Transfer program can also be used to make global changes to the following fields with or without transferring assets:

• Responsible business unit.
• Work center.
• Property tax entity.
• Property tax state.
• Location (if the asset has only one current location it will update the F1201 Asset Master File and the F1204 Location Tracking Table)
• Category codes 1 through 23

Changes can be made to the above fields for a group of assets (specified in the data selection) without having to change each Asset Master individually.  When making global changes, the desired values are entered only in the fields that need to be changed.  Any fields that are left blank are not changed.

The system does not allow one asset's amounts to be transferred to another asset.  If two assets need to be combined then a manual journal entry will need to be created to move the amounts from one asset to another.  Depreciation Methods should be considered when doing this as not all methods can handle period adjustments to accumulated depreciation.

The Asset Transfer program does not update the Depreciation Information (i.e. Depreciation Method, Life Months, etc...) of the asset being transferred to match the Depreciation Values of the account the asset is being transferred to.  If it is necessary to update the Depreciation Information for the asset, this can be done by going into the Depreciation Information (P1202) for each individual asset or by using the Update Depreciation Values program (R12822) to change multiple assets at one time. 

WARNING: Only the R12108 should be used to transfer balances to and from different accounts.  Manual Journal Entries should not be used to transfer balances as the needed transfer fields will not be updated correctly and the F1201 will not be updated.

Transfer of Assets Between Companies

Transfers of assets between companies are only allowed under the following circumstances:
1. When both companies are on the same fiscal date pattern.
2. When both companies are on the same currency.

Transfers when Balances do not Exist

If no balances have been recorded to an asset, the account numbers can be changed on the asset's Depreciation Information (P1202) without using the Asset Transfer program; however, the F1202 previous accounts with blank amounts will remain.  Once balances have been recorded to an asset, the Asset Transfer (R12108) program must be used to transfer asset amounts from one account to another account.  However, there is an exception to the previous statement, if just changing the Depreciation Expense number it can be changed by using the asset's Depreciation Information (P1202) screen.

WARNING: Assets with subledgers should not be transfers between periods (1-11).  They should only be transferred at the end of the year after final depreciation has been calculated for period 12.  Then they can be transferred and the depreciation in the new year will be recorded to the subledger.  Also, transfers to a subledger that has not used in the past should only take place in period 12 after final depreciation has been run.   Depreciation will be unpredictable when transfers are made during the year.  If a transfer happens during the year that uses subledgers or hasn't used subledgers transfer the asset back to the original accounts and depreciation should calculate correctly.

Scope

The Asset Transfer program (G1222/R12108) can be used to move cost and accumulated depreciation amounts from one business unit or account to another in the Asset Account Balances table F1202 and update the new account information in the Asset Master table F1201.  This program can also be used to make global updates to asset master information such as category codes.  The Asset Transfer program does not update the depreciation information such as Depreciation Method, Life Months, etc...

Recommended:  E1: 12: R12108 Fixed Asset Transfer Troubleshooting Errors Document 1567786.1 and E1: 12: R12108 Fixed Asset Transfer FAQ Document 786318.1

Details

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