Transferring Asset Items

When you transfer an asset item, you are changing the project that is assigned to it on the General tab in the Equipment hub. You are "transferring" an asset item from one project to another.

You transfer asset items in Asset Management > Transfer/Split Processing in the desktop application.

You must use transfer processing to change a project for asset items that were created from accounts payable vouchers, purchase orders, change orders, and release orders, and for asset items that were created directly in the Equipment hub that have already had depreciation processed for them. If an asset item created directly in the Equipment hub has not had depreciation processed for it, you can change its project directly on the General tab in the Equipment hub.

If you have additional books set up for depreciation in addition to your GL book, both types of books are processed when you transfer an asset item. Transactions are posted to your general ledger for your GL book, but no general ledger entries are made for additional books for transfers.

The following apply when you transfer an asset item:

• You can transfer only asset items with an active status. You see the status for an asset item in the Asset Status field on the GL Book tab in the Equipment hub.
• You must transfer an asset item to another project that is already set up in Vantagepoint.
• If you track multiple companies in Vantagepoint, you can transfer an asset item only from and to a project in the same company.