2.1 Transferring Assets

You can transfer assets between employees, depreciation expense accounts, and locations. When transferring assets, you should consider the following:

  • You can change the transfer date to a date in a prior period for a particular transfer, but the transfer must occur within the current fiscal year
  • You can change the transfer date of an asset to a prior period only once per asset.
  • You cannot transfer an asset to a future period.

Transferring a Single Asset

To transfer an asset between employees, expense accounts, and locations:
1. Choose Asset > Asset Workbench from the Navigator window.
2. Find the asset you want to transfer between employees, expense accounts, and/or locations.
Suggestion: For best performance, find by asset number or tag number since they are unique values.
3. Choose Assignments.
4. Optionally update the Transfer Date.
Note: If you transfer an asset during the period in which it was added, the Transfer Date automatically defaults to the
asset’s date placed in service and you cannot change it.
5. In the Units Change field, enter a negative number for the assignment line from which you want to transfer the asset.
6. Create one or more new lines, entering a positive number in the Units Change field for the assignment lines to which you want to transfer the asset.
7. Enter the new Employee Name, Expense Account, and/or Location for the new distribution.
8. Save your changes.

Transferring Multiple Assets in One Transaction

Oracle Assets allows you to transfer multiple assets in one transaction.
You use the Transfer From and Transfer To fields to identify the assets to be transferred.
You can transfer between expense accounts, locations, and employees and employee numbers. By selecting any combination of these criteria, you can further restrict the range of assets to be transferred.

Transferring Between Expense Accounts
For the From account, you can enter a single expense account or a range of expense accounts. When entering a single account number, you need to enter the account number in both the low and high fields for the From account. You can enter the entire account combination or only a partial combination.

For the To account, you can enter the entire account combination or only a partial combination. Note that when specifying partial combinations for both From and To accounts, you do not need to specify the same segment in both. For example, you can specify the first segment for the From account, and the second segment for the To account.
The following table shows an example of transferring between expense accounts:

Transferring Between Locations and Employees
You can transfer an asset between two locations, for example from the New York office to the Dallas office. You can also transfer assets between employee name and number. For example, you can transfer and asset from Robert Smith (employee 103) to Janet Jones (employee 214).
The following is an example of an asset transfer:

 
The above transfer affects all assets that are assigned to Robert Smith in New York with an expense account in the range of 1 through 100. An asset must satisfy all three criteria to be transferred to Janet Jones in Dallas with an expense account of 10000.

To transfer multiple assets between employees, expense accounts,and locations:

1. Choose Mass Transactions > Transfers from the Navigator window.

2. Choose the corporate depreciation Book for the assets you want to transfer.

3. Optionally select a Category to use as a selection criterion for the mass transfer.

4. Optionally update the Transfer Date.
You can change the transfer date to a a prior period date. You cannot change the date to a future period date.

5. Enter one or more selection criteria for the mass transfer in the Transfer From and Transfer To fields.

6. Choose Preview to run the Mass Transfers Preview report. Use this report to preview the expected effects of the Mass Transfer before you perform it. If necessary, update the definition and run the preview report again.

7. To perform the Mass Transfer, query the mass transfer and choose Run. Oracle Assets submits a concurrent process to perform the transfer.
If you wish to simultaneously run this program in more than one process to reduce processing time, Oracle Assets can be set up to run this program in parallel.

8. Review the log file after the request completes.

Oracle Applications Fusion Cloud - Inventory

Oracle Cloud/Fusion Procurement training will help you develop the fundamental skills required to set up and use the Procurement module. This training covers all the tasks, setups, forms and reports used in Procurement and related modules