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Fixed Assets inter company transfer

  • 1.  Fixed Assets inter company transfer

    TOP CONTRIBUTOR
    Posted Dec 17, 2020 03:48 PM

    Hi All

    please can some one confirm me that Fixed assets transfers between the company is only by PO / SO,  not like the way we transfer assets between (dimensions) department or site

    Thanks and regards

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  • 2.  RE: Fixed Assets inter company transfer

    GOLD CONTRIBUTOR
    Posted Dec 17, 2020 03:54 PM

    Hello,

    Yes that is correct. Although this seems like it should be a simple thing to do, there is a lot that goes on behind it, like accumulated depreciation. Usually in my experience I do a Free text invoice to record the disposal of an asset in one company. that takes care of all the accounting behind it. Then do an asset acquisition journal in the other company at the net book value

    regards,



    ------------------------------
    Juan Sebastian Grijalba
    Berkowitz Pollack Brant
    Miami
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    Digital Acceleration Binge Day.  January 28th 2021 | 11:00 AM - 2:00 PM EST


  • 3.  RE: Fixed Assets inter company transfer

    Posted Dec 18, 2020 11:56 AM

    I agree, a Free Text Invoice to sell from one and an acquisition in the other.  If you can manage the payment of interco separately it is a much simpler process.  



    ------------------------------
    Wendy Muar
    Lead Functional Consultant
    GraVoc; Peabody, MA
    www.gravoc.com
    ------------------------------

    Digital Acceleration Binge Day.  January 28th 2021 | 11:00 AM - 2:00 PM EST


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