Change Responsibility Centers

This task is a true transfer and not a sale because the change is only ‘responsibility’ instead of ‘ownership’. Here all Accounting Lines of an asset must have the Responsibility Center Posting indication of false.

1. Create an instance of the Fixed Asset Transfer.

2. On the Header:

1. Enter or select the Fixed Asset Number on the Header you are transferring and take the Auto Apply action.

2. Update one or more of the ‘new’ COA fields in the Responsibility Center section.

3. If a composite asset

1. Optionally update any of the new custodian and employee fields to complete the transfer.

2. If Depreciation Structure is Manual, enter the amount of depreciation since the Last Depreciation Date into the Depreciation Amount.

4. When new Responsibility Center COA values are entered, the transaction creates a zero- dollar accounting line that is the resulting Responsibility Center COA for validation purposes. There is no accounting for this event.

3. Navigate to the Component tab and update any of the new location fields to complete the transfer if the asset is not a composite asset.

1. If Depreciation Structure is Manual, enter the amount of depreciation since the Last Depreciation Date into the Depreciation Amount.

4. Validate the completed Fixed Asset Transfer.

5. If errors exist, fix the errors, and repeat Step 4. If no errors exist, then continue with Step 6.

6. Submit the transaction.