How does this affect me?
This update brings the following features to enhance fixed assets:
Fixed asset intercompany transfer - The intercompany transfer feature lets you transfer assets between legal entities. Select the source asset and its book, and preview key financial details like acquisition cost, accumulated depreciation, and net book value. You can process the transfer as a disposal. Choose to create the destination asset automatically or select existing assets. The feature copies asset data to the destination entity, lets you preview destination values, and automates posting acquisition in the destination asset and disposal transactions in the source asset.
Mid-month intercompany transfer support - This feature transfers the fixed asset across legal entities by supporting an accurate asset transfer on any date of the month.
- Transfer wizard calculates prorated depreciation from the last depreciation date to the transfer date.
- System posts the necessary depreciation adjustment automatically before processing the transfer.
- Introduces new value as the third transfer value method besides acquisition and depreciation and net book value.
- Supports automatic profit and loss calculation based on new value of the asset transfer.
- Adds a split mapping framework for consistent rules across asset groups and books.
- New split wizard supports multi asset selection, destination setup, preview, and journal creation.
- Enables split by percentage, amount, or quantity, with options for spot or historical exchange rates and before and after previews.
- Adds logic to capture or derive prior year ending net book value to establish the correct depreciation base.
- Supports accurate depreciation for opening balance migration and mid year intercompany transfers.
This message is for awareness, and no action is required.
If you would like more information on this feature, please visit Enhancements to fixed assets.