Enhanced interface

Transfer an asset—Fixed Assets Management

Transfer an asset to move it between departments, projects, or other dimensions while maintaining accurate records and clear visibility into ownership changes. Unlike editing the asset directly, transferring creates a journal entry in the General Ledger to record the change.

When you transfer an asset, Sage Intacct performs the following actions:

Updates the allocation and dimension fields on the asset.
Creates journal entries to reflect the asset's new dimensions in the General Ledger, as of the transfer date.
Records the transfer on the asset's Transfer history tab.

After transferring, any new asset-related journal entries will use the updated dimensions. Previous journal entries remain unchanged.

Restrictions

The following restrictions apply to transfers:

You can only transfer assets that are in the Ready for review or In service states.
Transfers between entities are only allowed if both entities use the same base currency and the asset was created at the top level.

Additionally, after an asset is transferred, the following conditions apply:

To place an asset in service, the in-service date must be on or after the most recent transfer date.
To revert a depreciation posting, it must be dated after the most recent transfer date.
To place an asset back in review or delete an asset, all transfers on the asset must be reverted.
To dispose of an asset, the disposal date must be after the most recent transfer date.

To transfer multiple assets at once, see Transfer assets in bulk.

Before you begin

Define a journal for asset transfers in Fixed Assets Management configuration.
Verify that the asset has an Asset GL account assigned. If not, edit the asset to add an account.
If the asset is disposed, place the asset back in service.

Transfer an asset

Subscription	Fixed Assets Management
Regional availability	All regions
User type	Business
Permissions	Fixed Assets Management Asset: List, View, Add, Edit

If you’re transferring an asset to a different entity, go to the top level of your company.
Go to Fixed Assets Management > All > Assets.
Find the asset that you want to transfer.

The asset must be in the Ready for review or In service states.
Select the asset's ID to view it.
At the top right of the page, select Transfer.

Select a Transfer date.

Transfer date requirements

The transfer date must meet the following requirements:

Be on or after the acquisition date.
Be on or after the most recent transfer date, if any.
Be after the most recent partial disposal, if any.
Be within an open period.

If the asset is in service, the date must also meet the following requirements:

Be on or after the in-service date.
Be after the actual posting date of the most recently posted depreciation entry across all schedules (if any).
Be before the scheduled posting date of the next not posted depreciation entry across all schedules.

Example of valid transfer dates

In the following scenario, the valid transfer dates are from December 1st to December 30th.

Example Depreciation schedule
Period	Scheduled posting date	Actual posting date	State
1	August 31st	--	Historically posted
2	September 30th	--	Historically posted
3	October 31st	October 31st	Posted
4	November 30th	November 30th	Posted
5	December 31st	--	Not posted

Change the allocation or at least one dimension.

If you select a location that belongs to a different entity, both entities must use the same base currency.
Select Transfer.