The Special Asset Movements form is displayed when the Asset movement option is selected from the ASSET REGISTER menu.
The Special Asset Movements form consists of two Tabs:
When transferring an Asset Record, you create a new Record within the Asset Class to which you are moving the asset, and you assign to that Record a new Item Number. The old Asset Record with the original Item Number remains on the Register until the next run of the End of year process option, when it will be deleted.
To the new Asset Record within the new Asset Class, the system automatically assigns the following:
The default Nominal Ledger Charge Account Code of the Asset Class to which it is being moved.
The default Nominal Ledger Reserve Account Code of the Asset Class to which it is being moved.
Note: You may, however, overwrite these three fields if you wish. You may also assign new values for Location, Keeper and Cost Centre to the transferred Asset Record.
When used to transfer an Asset Record between Asset Classes, the Asset movement program prompts for an NL Posting Date and an Asset Transfer Daybook is printed.
Depending on how your system is set up, postings will be made to the Nominal Ledger immediately on exiting the program, or on the next run of the Print all daybooks program within the Accounts system. This is typically at the end of the day.
Splitting an asset generates two asset Records - the parent Record and the child Record - where formerly there was just one. The Asset Record of the original, unsplit asset is automatically cleared from the Register on exiting the program.
Other than for the financial values the child and parent assets are created with essentially the same data. You may divide the value of the original asset in any required percentage between the parent and child. Assets may be split only within and not across Asset Classes. No postings to the Nominal Ledger result from an asset split.
Details of all asset splits and of transfers, which were performed during the current financial year, are held on tab eight of an Asset Record, the Asset Transfer History page. You may view these splits, but not amend, with the Add or modify assets option.
Note: You may use the Asset transfers and Family tree options to report on asset transfers and splits respectively.
To move an asset from one Asset Class on the Register to another:
Specify the current Asset Class and Item Number of the
asset that you wish to relocate. You may use the Search facility
by using the 
in either field and find the required Class or Item Number in this way.
The prompt is in the New Asset class of the form at the Asset class field.
Enter the required fields:
Asset class: This field is a eight-character, alphanumeric
Asset Class code of the Class to which you wish to transfer the
asset, followed by its Item Number within that Class- the latter will
be populated automatically. Use the
search facility if necessary.
The screen prompts you to either confirm or overwrite the current contents of the Location, Keeper and Cost Centre fields for the asset.
Also shown on the screen are the NL Charge Account and NL Reserve Account fields. These will default to the account codes set up for the Asset Class to which the asset is being moved, with the Classifications option. You may accept or amend these fields, as required. When the required fields are complete, click the "Process Asset Transfer" button.After accepting or amending the posting date, the transfer will be complete [subject to printing daybooks] The Exit button will take you back to the menu, and Help will display online help in your default company browser.
On moving an Asset Record between Asset Classes, the Asset Movement Audit Trail is printed showing details of the transfer operation in tabular format. For each transferred asset, information is printed under some or all of the following headings:
Function: This column shows the operation performed.
Class: The upper line shows the original source Class; the lower one shows the new Class to which the asset has been transferred.
Item: This is the identifying four-digit Item Number of the transferred asset.
Description: The full, descriptive title of the asset, which may be up to thirty alphanumeric characters in length.
Cost Centre: The upper line shows the original Nominal Ledger department of the asset within its previous Asset Class; the lower line shows the new department.
Purchased: The date on which the asset was acquired.
Location: The upper line shows the location at which the asset was held when it was assigned to its previous Asset Class; the lower line shows its location within the new Asset Class.
Keeper: The top line shows the person responsible for the asset when it was assigned to its previous Asset Class; the lower line shows its keeper for the new Asset Class.
Costs: The Initial Cost of the asset that has been moved from one Asset Class to the other.
Book Value: The Net Book Value of the asset that has been moved from one Asset to the other.
When transferring an Asset Record from one Asset Class to another, the system will prompt for an NL Posting Date. The last day of the current financial period will be shown; you may overwrite this displayed date with another if required.
Whether the system posts the details of the transfer to the Nominal Ledger as you exit from the option depends on the System parameters. These are located on the AR System Maintenance Menu.
The cost of the asset (including additional costs) is credited to the 'old' Asset NL account, and debited to the 'new' Asset NL account. Year to date depreciation is debited to the 'old' NL Reserve account and credited to the 'new' NL Reserve account.
To divide an asset on the Register into two assets, parent and a
child asset, select the second tab on Special Asset Movements form- the "Split Asset". Specify the Asset Class and Item Number of the asset for
splitting. You may use the button facility in either field and locate
the required Asset Class or Item Number in this way.
The screen is in two sections: the upper portion- Source holds details of the original asset, which will become the parent asset following the split; the lower portion- New Item is for information about the child asset, which will be assigned a separate Asset Record as a result of the split.
The source item requires the Asset Class and Item to be input.Use the
search facility if necessary.
The new Item Number:
On amending or confirming the field values for the original asset, move the cursor down to the new asset portion of the screen.
Next, specify the percentage value of either the Original asset or the Net Book Value of the new asset that the
child asset will assume; the balance will be retained by the parent
asset. The financial fields of both the parent and the child asset
will now re-value automatically. A 
box is available to aid the selection.
Finally, enter the Description, Short Name, Model Number, Serial Number, Location and Keeper details for the child asset. Once the screen is saved, the split operation is complete. No Nominal Ledger postings result from an asset split. By clicking the button "Process Asset Split" the process is complete.
Use the Asset movement option to transfer an asset between Asset Classes or to split an asset into two - a parent child and a child asset - within an Asset Class.
Transferring an Asset Record to another Class involves creating a new Record within the destination Asset Class. The original Asset Record remains on the Register until the next run of the End of year process option, when it will be deleted. The program prompts for an NL Posting Date and Daybook is printed.
Splitting an asset generates two Asset Records - the parent Record and the child Record; the original, unsplit Asset Record is automatically cleared from the Register. You may split the value of the original asset in any required percentage between the parent and child. No postings to the Nominal Ledger result from an asset split.
Details of all previous asset splits, and of transfers within the current financial year, are held on tab eight of an Asset Record, the Asset Transfer History page. You may view this with the Add or modify assets option. Use the Asset transfers and Family tree options to report on asset transfers and splits respectively.
