How to transfer Costs, AD and Expenses in Fixed Assets
When performing an Asset Transfer, the Cost and AD are transferred, but not Expenses. Why not?
Summary answer: Expenses can be transferred, if the GL Date is not equal to month-end.
Detailed answer: Expense does not get transferred at the end of the month. Only during the middle of it. It’s prorated based on the date. Depreciation must have run in this month. Only the transferred months’ balance gets moved, not other months.
JDEdwards states:
You can use the transfer program to change depreciation expense and revenue information in the asset master. The program can update this information, but it does not move the balances or create journal entries unless you transfer during the middle of the month. To transfer depreciation expense and revenue amounts at the end of the period, you must use journal entries.
Example:
Transfer Cost from 140301 to 140302
Transfer AD from 140601 to 140602
Transfer Expense from 900301 to 900302
If transferring as of 8/31/08:
If transferring as of 8/15/08:
If transferring as of 8/01/08:
