Dynamics Community Forum Thread Details

How to transfer one asset from one company to another

Hi,

Below are the steps to do a Asset transfer from one company to another. These steps can be used for any version of GP. With GP2013 there is a new feature to accomplish the same thing, however, there are a few Problem Reports associated with it, so if you do want to use that one, please make sure to make a backup of both of the companies you are working with (to and from).

**Make a backup and try this in a test company first**

871973 Set up a test company that has a copy of live company data by using SQL Server 7.0, SQL Server 2000, SQL Server 2005, SQL Server 2008, or SQL Server 2012

http://support.microsoft.com/kb/871973/en-US

Take note of the asset settings that currently exist (ie Cards —> Fixed Assets —> Book, select the asset and book ID) for all of the individual aspects of the assets, such as the Asset General Card, Asset Book, Asset Accounts, Asset Insurance (if used), Asset Lease (if used), and Asset User Data (if used). Screen shots are a good way to save this data.
Retire the asset in its current company:
1. Transactions —> Fixed Assets —> Retire
2. Enter the Asset ID and retirement date
3. Enter the Retirement Type, such as other (you can give it a unique Retirement code such as Intercompany Transfer)
4. You can leave the Percent at 100%, and click retir
5. Enter Cash Proceeds Equal to the Net Book Value. This will make it appear as though the one company has sold (essentially, moved the asset holding) to the other company. It makes it a wash for the current company. If you wish you can decide not to do this, but that would make it appear on the financial books as though you had sold the asset at a complete loss and gotten it for free in the other company, which may seem odd to auditors. You can check with your accounting staff to see how they would like to proceed.
Add the asset to the new company:
1. Cards —> Fixed Assets —> General. Copy over the information from the screen shots, changing as needed. Set the purchase price to be equal to the Net Book Value of the asset when it was retired in the other company
2. Set up the asset card. Make sure the retired to date is set to the last day of the previous depreciation cycle (and not the assets original purchase date, or this will cause depreciation to be taken on the periods already depreciated).
3. Continue to setup the rest of the asset cards

The Inter Company Transfer Tool (GP2013) is located at Transactions >> Fixed Assets >> Intercompany Transfer. For more information on this tool you can go to the GP Help file (F1).

Please let me know if you have any additional questions on this.

Rosa Chavez DeLeon

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Microsoft Dynamics GP Support

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**This posting is provided 'AS IS' with no warranties and confers no rights.**

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