Fixed Assets Transfer Query

Hello ALL
Can any one tell me in Fixed Asset Module, the Asset Transfer option is used to transfer the assets between the business unit/account of Same company or it can be used to transfer the assets between inter company also (having the 2 companies independently.)
Eg. ABC is a main company(default 00000). ABC is having two units.one is ABC Chips Unit(Company 0001) and other is Yarn unit (Company code 0002).But final Balance sheet is consolidated as ABC.
Now if i want to transfer the asset from company 00001 to company 00002,can i do this by using assets transfer option.

Thanks for your answer in advance.

From
Srinivas Rao
Finance Consultant

Intracompany asset can be transfred. yes you can do that.

If I do that by using the Assets transfer after giving the all the details about the new asset transfer Bu and Obj code and then the run the depreciation report, after the transfer date.Then the depreciation is calculated twice for that particular assets no. i.e it is calculated for company 0001and company 0002.But the final entries (accum dep and depreciation exps) are recorded in a new company where the asset is transfer.
Can any one tell me why it is calculating twice.

Thanks to all in advance

from
Srini

Asset Transfer is very powerful and flexible, meaning very dangerous if you aren't careful or don't know what you are doing. Always, Always run in in proof mode and review your output. I went from World ->Xe-> 8.11. There are some improvements since World that mitigate the risk, but I am still cautious about it.

That being said, you can transfer between CO, BU, GL OBJ, GL SUB, etc. Take a look at the processing options; each one of those is a value you can transfer.

Thanks Hitch and Stats

From
srini