Transfer of amounts

[kkmundhra]

Hi Folks

How can we transfer amounts from one asset to another??

I have heard that we can do it.

Can anyone throw some light on this topic.

Thanks in advance

Karan

[AmanKhan]

HI Karan,

I dont think so that we can transfer amounts from one asset to another.... although we can transfer asset from one loc/employee or depr. account.

As a work around, if you just want to adjust cost in 2 assets without affecting you total then you can retire the one asset partially and add portion to other asset.

If any one know how about amount transfer in between assets then plz share with us, as it is new to me and i have requirement from my client as well.

thanks,

Aman

[kkmundhra]

Hi Aman

Will surely keep u updated once i come to know about it.

Thanks

Karan

[hiszaki]

Hi Folks

I think AmanKha is right but I have another workaround for this issue. We can adjust the first asset by reduce his cost & increase the other asset cost with the same amount.

This is just an idea if it work let us know.

Thanks
Hisham

[AmanKhan]

Hi Hisham,

The idea is gud ....if it works.

Did u try the workaround m ? and what will be the accounting impact of increasing or decreasing cost with reference to deprecation ?

can u plz explain it.

thanks,

AmaN

[kkmundhra]

Hi Folks

Transfer of amounts from one asset to another:

Prerequisite-The asset from which the amount is transfered must be a Mass Addition i.e through payables.

Steps:
1. Navigate to asset workbench & query the asset.
2. Click on "Source lines".
3. Select the invoice number & optionally change the transfer amount.
4. Click on "Transfer to..."
5. Query the asset to which the amount has to be trasferred.
6. Click on "Done".

Note: You cannot transfer amount to fully retired asset.

Thanks
Karan

[oracleapps1983]

How can we add portion of asset that belongs to another

[kkmundhra]

Hi Oracleapps1983

I did not get your doubt. Please be a little more clear.

Thanks
Karan

[AmanKhan]

Hi Karan,

thanks for the update.....

If we load opening balances then it directly load into Mass addition window/table..... point is that ......still are we able to transfer amounts between assets in any subsequent period....although it is not from AP but it is in mass addition?

As i come to know the above process shows that it is not possible.... can u tell me workaround in this situation.....

thanks,

Aman