Asset split enables a specified quantity to be separated from the original asset and creates new asset records. The Quantity field on the Maintenance subtab of the asset record tracks the number of individual elements that form the asset.

The Fixed Assets Management SuiteApp enables you to split assets that have not been disposed of or are not defined as inactive on the asset record.

Asset depreciation continues to work on each asset as a whole. If different depreciation rules must be applied to some of the quantity, then that quantity must be split to create a separate asset. Likewise, if some of the asset quantity are transferred to a different class, department, location, or subsidiary, the asset quantity must first be split into a separate asset and then moved. It is not possible to combine assets (for example, reverse the process of splitting an asset).

To split an asset:

1. Go to Fixed Assets > Transactions > Asset Split.

2. In the Asset ID/Name field, select an asset to split.

The Split Details subtab will be available when you select an asset. Tax methods associated with the selected asset are displayed in the Alternate Depreciation subtab. Assets generated after the split inherit the alternate depreciation from the original asset record. The asset values are computed based on the ratio of the split quantity.

3. In the Split Details subtab, enter the Split Quantity in the Assets Generated from Split sublist, and then click Add. Repeat this step for each asset record that you want to create from the split.

Details of the original assets and generated assets after the split are available on the Split Details subtab. Asset values generated after the split are calculated based on the split quantity. These values can be edited. The following conditions are applied when you modify the split details:

• Split quantity must not be zero.
• The net book value must not be greater that the current cost for both the old and new assets.
• The sum of the net book value and depreciation to date must equal the current cost.
• The last depreciation amount must not be greater than the depreciation to date.
• The residual value must not be greater than the current cost and net book value for both the original and generated assets.
• Asset values generated after the split must not exceed the values of the original asset.

4. Click Split to create a new split asset and update the original asset.

You will be redirected to the Process Status page, where you can track the status of the asset split. On the Process Status page, the following processes will be queued for asset split. You can click the Details link on any process to view the process stage details.