Transfer assets in bulk—Fixed Assets Management

You can use the import service to transfer multiple assets at once.

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.

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.

Step 1. Create a custom list view

1. Go to Fixed Assets Management > All > Assets.

2. Set the filter on the State column to include Ready for review and In service.

3. At the top right of the page, select Settings > Configure columns.

4. Select the following columns:

   • Allocation ID

   • Asset ID

   • Class ID

   • Contract ID

   • Cost type ID

   • Customer ID

   • Department ID

   • Employee ID

   • Location ID

   • Project ID

   • Task ID

   • Vendor ID

   • Warehouse ID

   • Affiliate entity ID

   You can include other fields, but these are the only ones needed for this task.

5. Select Manage view > Save as.

6. Enter a name for the view.

   For example, "Bulk transfer".

Step 2. Export the custom list view

1. Go to Fixed Assets Management > All > Assets.

2. From the views dropdown at the top left, select the view you created for export.

3. Optionally, filter the list to show only the assets that you want to update.

4. At the top right of the page, select Export > Excel.

Step 3. Update the exported file

1. Open the Excel file that you exported.

2. Delete rows for any assets that you do not want to update.

3. Add a column for Transfer date and enter a date for each asset.

   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

4. Change the allocation or at least one dimension on each asset.

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

   At this time, you cannot remove existing values to make the field empty, but you can change the values to something else.

5. If you have user-defined dimensions that you want to update, add columns for them and update them too.

6. Save the file.

Step 4. Import the updated file

If you’re transferring an asset to a different entity, go to the top level of your company.

1. Go to Company > Setup > Import data.

2. Select New import service.

3. Next to Assets, select Update.

4. Upload your file.

5. Map the fields and then select Continue.

   Learn about mapping fields.

6. Map the field values and then select Continue.

   Learn about mapping field values.

7. If there are any errors, review and correct your data.

   Learn about fixing errors in the import service.

8. Select Import.