Transfer fixed assets between legal entities and adjust reporting currency amounts

Business value

Fixed asset processes can require multiple manual steps. These features help users work more efficiently by reducing the steps needed to transfer assets between legal entities and by providing a controlled, repeatable process to generate, review, and post reporting currency adjustments.

Feature details

The intercompany transfer feature lets you transfer assets between legal entities. Select the source asset and its book, and preview key financial details like acquisition cost, accumulated depreciation, and net book value. You can process the transfer as a disposal. Choose to create the destination asset automatically or select existing assets. The feature copies asset data to the destination entity, lets you preview destination values, and automates posting acquisition in the destination asset and disposal transactions in the source asset. Enhancements for correcting fixed asset reporting currency amounts include a controlled and repeatable process for generating, reviewing, and posting fixed asset reporting currency adjustments. - Identifies affected fixed assets and generates summarized correction entries by asset book. - Creates an unposted journal for review and validation before posting, without modifying historical depreciation transactions.