Fixed Asset Transfer

Use this form to transfer an asset from one Class Code or department to another. The system generates a Fixed Asset Distribution Journal entry to reclassify the asset on the balance sheet. Future depreciation entries will be charged to the Expense Account associated with the new Class Code.

You can transfer only "Active" assets.

If you change any of the related Cost or Depreciation records, you must delete and re-add the Transfer record so the system writes the correct amounts to the FA Distribution Journal.

To post fixed asset transfer transactions to the system, use the Fixed Asset Transfer Posting form.