Split an Asset Item

Use Transfer/Split Processing to split an asset item into one or more other existing asset items.

Pre-requisites: In the Equipment Info Center, you must create the asset items that you want to split an asset item into before you process the split.

To split an asset item, complete the following steps:

1. From the Vision Navigation menu, click Asset Management > Transfer/Split Processing.
2. In the Asset field on the Transfer/Split Processing form, use the Equipment lookup to select the asset item to split (source asset item). You can only select an asset item with an active status. Be sure that the Inactive Assets check box on the Equipment lookup is cleared, or no asset items will display on the dialog box. After you select an asset item, the Existing Project section on the form prefills with the project, phase, and task that are currently entered for the asset on the General tab in the Equipment Info Center.
3. In the Action field, select Split from the drop-down list.
4. In the Transaction Date field, enter the date for the journal entry posting for the split.
5. If you use diaries in Vision, select a diary from the drop-down list in the Diary field.
6. In the Split to grid, complete the following steps:
   1. Click Insert on the grid toolbar.
   2. In the blank row inserted in the grid, use the lookup in the Equipment field to select a receiving asset item that will receive costs from the asset item you are splitting. The project, phase, and task (if you use them) prefill in the fields in the grid for the project, phase, and task number and name.
   3. In the Account field, use the Account lookup to select the asset account for the acquisition cost you are splitting from the source asset item. If the source asset item has multiple acquisition costs entered for it in the Acquisition Cost grid on the GL Cost tab in the Equipment Info Center, the account that is entered for each acquisition cost displays in the Account lookup.
   4. In the Acquisition Cost Amount field, enter a portion of the cost amount, or the full cost amount, that you are moving from the source asset item to the receiving asset item. The cost amount for the source asset item is displayed in the Amount field in the Acquisition Cost grid on the GL Cost tab of the Equipment Info Center.
7. Repeat step 6 to enter other asset items to enter other receiving asset items to receive costs from the source asset item. You can enter as many receiving asset items as needed. The total amount that you enter for all receiving asset item cannot exceed the total Acquisition cost amount that is entered for the source asset item in the Acquisition Cost grid in the Equipment Info Center.
8. On the toolbar of the Transfer/Split Processing form, click Run.
9. On the dialog box that asks if you are sure you want to process the split, click Yes.
10. On the dialog box that identifies the number of split entries posted and the posting sequence number, click OK. The posting sequence number referenced here will help you identify the journal entry posting log for the split. You can view the journal entry posting log that is created for the split in Transaction Center > Posting Logs. After you split the asset item, you see the results of the moved costs and any salvage value change in the Acquisition Cost grid and the Less Salvage Value field on the GL Cost tab in the Equipment Info Center for the source and receiving asset items. You see the moved accumulation depreciation on the History tab in Asset Management > Asset Review for the asset items.