Fixed Asset Transfer

Deb Foos

I need to transfer a vehicle from one entity's balance sheet to another entity's fixed assets. This vehicle is fully depreciated, so I'm wondering how to record the accumulated depreciation in the new entity. What I plan to do is create a JE in the old entity to reverse the asset account and the accumulated depreciation to zero out both of those accounts. I can post the offsets to an inter-company transfer account. But, when I enter this vehicle in fixed assets in the new entity how do I get the accumulated depreciation in the fixed assets module and have it post to the GL?

Evans Langat

@Deb Foos When you have the Asset open, Go to Activity , there is a drop down arrow on the right side of New period Depreciation, select New Accumulated depreciation, enter the date, the amount, and select Not yet posted, if you wish to post the transaction, or do not post if you wish not to post this to the GL. Select your date and click save and close.