To transfer GL accounts for Fixed Assets in GP open the Financial Area Page. Under Fixed Assets pick Transfer. Select an asset and transfer date. Click the blue arrow next to G/L Accounts. Change the accounts that need adjustment and click transfer.
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09 July 2012
Weekly Dynamic: Fixed Asset GL Account Transfer
A lot people don't use Fixed Asset transfers because they think in terms of the physical movement of assets but transfers can be used for more than that. For example, if an asset has been going to a wrong account or if you decide to reorganize fixed assets and change accounts a fixed asset transfer can be used to move the GL accounts.
To transfer GL accounts for Fixed Assets in GP open the Financial Area Page. Under Fixed Assets pick Transfer. Select an asset and transfer date. Click the blue arrow next to G/L Accounts. Change the accounts that need adjustment and click transfer.
To transfer GL accounts for Fixed Assets in GP open the Financial Area Page. Under Fixed Assets pick Transfer. Select an asset and transfer date. Click the blue arrow next to G/L Accounts. Change the accounts that need adjustment and click transfer.
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3 comments:
Hi Mark.
Very useful to know. Does this move all the balances i.e. opening depn etc or only reflect subsequent movements e.g. the next months depreciation?
It transfers the complete amount from that account to the new account to facilitate the GL/FA Reconcile report. So if you transfer cost, it transfers the historical cost as of the date of the transfer. Same thing with depr. It won't change past financial statements but it doesn't leave half of the depr. in one account and half in another.
Mark
Thanks for the quick reply Mark, much appreciated and very helpful!
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