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New to NetSuite | FAM > Set Up Needed Before Processing an Asset Transfer to Another Subsidiary

edited Oct 26, 2023 3:24AM in Basic Accounting

Asset Transfer is the process of changing the subsidiary, class, location, or department of the Fixed Asset. Note that both simple and compound assets can be transferred.

In this article, we’ll focus on transferring an asset from one subsidiary to another and the additional set up needed to transfer it successfully.

For you to have a better grasp, we have here an Asset that must be transferred from US Rockville (Parent Sub): Mik | Subsidiary A to US Rockville (Parent Sub): Mik | Subsidiary B. This asset is currently active and depreciating.

To be able to successfully transfer the asset, the

Micah Patricia Timbol | Basic and Advanced Accounting, OTC Guru

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