Internal Sale – Single Transaction

This task is both a transfer of responsibility and ownership where there could be a gain or loss recorded if the selling price does not equal the net book value of the asset, including catch up depreciation. There is a limitation to this method in that there can only be a single accounting line per component or all accounting lines have the Responsibility Center Posting indication of true.

1. Create an instance of the Fixed Asset Internal Sale.

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.

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. Enter the Selling Price and other disposition details as necessary.

3. Navigate to the Component tab and update any of the new location fields to complete the transfer.

1. Enter acquisition details, new location details, and depreciation criteria.

2. If the asset is not a composite asset and the Depreciation Structure is Manual, enter the amount of depreciation since the Last Depreciation Date into the Depreciation Amount.

4. Validate the completed Fixed Asset Internal 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.