Community Care and Share: Effect of Changing Department Through Asset Transfers
In relation to the discussion: Fixed Asset Record > Updating the Department Field. Here are different scenarios that will explain what happens on the Journal Entry created and Depreciation Amounts previously recorded (if there are any) after the Asset Transfer.
Take note that in each of these scenarios, Post on Department Change is enabled.
Check this box if assets will be transferred on department change, with accompanying Journal Entries. (Fixed Assets > Set up > System Set Up)
· Newly Created Asset
· No Depreciation Recorded Yet
· Depreciating Asset in Test Department A transferred to Test Department X
· Depreciation has already been recorded for a month in Test Department A