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
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
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.
If you've found this thread useful, dive deeper into User Group community content by role