Fixed Asset Module Asset Transfer

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Posted on by Zane G

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I recently completed an asset transfer (Transactions>Fixed Assets>Transfer). The GL posting worked fine and it transferred the Cost and A/D to the right GL accounts, however, it did not update the Asset's class in the FA module. This means that when reconciling the FA module to the GL two classes will be out by an offsetting amount. I had to manually go into the asset card and change the class which does not leave an audit trail.

Did I do something wrong? Is it possible to transfer an asset between classes in the FA module?

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L Vail 65,271 on at

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You can change an asset's class using Mass Change on an Asset Group. You're not going to get an audit trail, but you won't have to do it one at a time.

Kind regards,

Leslie

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Leng Papio 855 on at

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When you say Asset Class - which exactly are you referring to?

Is it an Asset Group *under Select Assets,

or Is it the Class ID on the Asset General window of the asset you transferred?

or Is it the Account group assigned to the assets?

I've encountered clients who interchange these terms, but they are really different as far as FA is concerned.

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L Vail 65,271 on at

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Hi Leng,

I too failed to use the correct terminology. I was speaking of the Class ID on the Asset General Information Window. What were you referring to?

Kind regards,

leslie

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Zane G 120 on at

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Hi Leng,

I was referring to the Class ID on the Asset General Information Window.

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Zane G 120 on at

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Would this change the Class ID for all assets with that Class ID? I only wanted to change the Class ID of the one asset I transferred.

Thanks,

Zane

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Leng Papio 855 on at

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Zane, if you need to update a lot of assets, Mass change as per Leslie's advise is the way to go.

but since it is just one asset, you can just change it and save the asset in the Asset General window.

it should prompt you to do a reset or recalculate...

to be safe, i recommend restore a current backup of your live data to your test company and then do the change there first. the change on the asset general window may trigger some entries in the FA financial detail.. depending on what you select....

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Hi Zane (and anyone who may check this thread later on),

I was having difficulty with this too and did some researching. What I have found is that the Transfer action does not change the Class ID field (according to Dynamics GP Help). You can look up the fields it affects in Dynamics GP Help (F1) for the Transfer Maintenance Window > Fields.

To change Class ID, the only way I have found so far is to:

1) look up the asset in GP > Financial > Cards > Fixed Assets : General.

2) Change the Class ID and click [Save].

3) A popup will appear for Reset Asset Class ID. The options there will reset the asset's depreciation if Propagate is selected. Note: Redoing the depreciation may not post to the correct accounts. Not selecting anything will not post anything (for GL posting routine), but may also mess up amortization in the future (I'm not sure).

I would suggest trying it in a test company, or doing backup, before doing this. You can see transactions under Inquiry > Fixed Assets : Financial Detail.

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