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Copy assets from one book to another book

in Assets 1 comment

Summary:


Hi,

We have a requirement to copy assets from one corp book to another. The books are associated with a different ledger. Is the below approach right ?

Extract and transfer assets from source book to target book.

Retire assets in source book.

A question which arises is how will the accounting entry be knocked off in source book ? Will this method lead to duplicate entries ?

Another question is that is there any intercompany accounting entries generated ? Do we need a separate setup for it to be created ?

A third question is how is the gain or loss computed, if applicable.

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