Asset Transfer Accounts

The Fixed Assets Management SuiteApp supports multiple subsidiaries and lets you transfer assets between subsidiaries.

To support this intercompany functionality, intercompany accounts are defined within the Asset Transfer page. For each subsidiary relationship where asset transfer is required, you must set up transfer accounts for the origin and destination subsidiaries.

In an asset record, when the subsidiary is changed, the system will journal the asset and its accumulated depreciation out of the balance sheet and into the origin transfer account. In the destination subsidiary, the value of the asset is posted into the asset account from the destination transfer account. Previous depreciation amounts are not transferred into the destination subsidiaries ledger.

To set up an asset transfer account:

1. Go to Fixed Assets > Setup > Asset Transfer Accounts > New.

2. Enter values for the following fields:

   • Origin Subsidiary — Select the originating subsidiary for this intercompany relationship.

   • Destination Subsidiary — Select the destination subsidiary for this intercompany relationship.

   • Origin Transfer Account — Select the transfer (GL) account for the originating subsidiary of this intercompany relationship.

   • Destination Transfer Account — Select the transfer (GL) account for the destination subsidiary of this intercompany relationship.

3. Click Save.