Summary

The Transfer process is a batch approval process that allows you to change the location and class of an asset. You can process only one asset at a time.

The process will transfer out the book value and accumulated depreciation of an asset using the general ledger accounts set up on the class of the asset and then transfer in the book value and accumulated depreciation amounts to the general ledger accounts of a selected asset class.

If you do not want the transfer process to be an approval process, assets can be manually transferred from the asset maintenance window in the Fixed Asset Maintenance window (FA> Maintenance> Fixed Asset). Manual transfers will not create a journal entry, and there will be no record of the transfer.

Step by Step

1    Open or create a Transfers batch.

• The Transfers process is a single batch process, meaning you can process only one batch at a time.
• If there is an open batch in the Transfers process, you will not be able to create a new batch. If you would like to create a new batch, you can either delete the existing batch by clicking the Delete icon on the batch tile or you can reset the steps on the process by returning to the first step of the process. All of the information in the batch will be overwritten.
• If there are no open batches in the process and you would like to create a new batch, click the Create New Batch button. This will open the New Batch view. The batch number, batch month, and batch year of the batch will not affect the transactions cleared in the process. The batch information is for reference purposes only.

2     Open the Batch Overview page.

• The Batch Overview page provides a general overview of the selected batch.
• The left navigation menu displays all the steps in the Transfers process.
• In the main section you'll see information about batch steps that are currently processing, next available batch steps, and the last completed batch step.
  • Batch steps that are currently processing will display a blue indicator bar to alert you that the step has not yet completed.
  • Once the preceding batch step is complete, the next available batch steps will be enabled and you can select the next step you would like to run.
    • While some batch steps are optional, any batch step that includes the Required tag must be completed before the batch is allowed to proceed through to the Commit step.
• The Batch Outputs section on the right will display any reports or exports that have already been generated in the Transfers process.

3     Transfer the assets.

• Open the Transfers window (FA> Transfers> Transfers).
• You can process only one asset at a time using this process.
• Enter an asset number or click the Asset field search button to select one from a list.
  • Once an asset is selected, you can open the Fixed Asset Maintenance screen for that asset via the open button  .
• Enter a Trans. Date. The Transaction Date will default to today's date and will not determine the fiscal period and year the transfer is posted to.
• The Current Location field is read-only and will display the location the asset is currently assigned to.
• Enter a New Location or click the field search button to select one from a list.
  • Locations are set up in the Location Maintenance window (FA> Maintenance> Location). Locations set up in other modules, such as inventory locations in Inventory Control or shipping locations set up in System Setup will not display in the drop-down menu.
• The Current Class field is read-only and will display the class currently assigned to the asset.
• Enter a New Class or click the field search button to select one from a list.
  • The selected class must have an Asset, Fixed Asset Investment, and Accumulated Depreciation general ledger account set up. You can set up and view the general ledger accounts attached to a class in the Class Maintenance window (FA> Maintenance> Class> Maintenance section).
  • The account class selected in this field will determine the general ledger accounts used when transferring the asset.
  • The transfer process will transfer out the book value and accumulated depreciation of the asset using the general ledger accounts set up on the Current Class of the asset and transfer in the book value and accumulated depreciation amounts to the general ledger accounts of the New Class.
    • If you have manually changed the general ledger accounts attached to an asset in the Fixed Asset Maintenance window (FA> Maintenance> Fixed Asset> Accounts tab), then those general ledger accounts will be used to transfer out the asset. If these general ledger accounts have been changed since the asset has been installed you may be able to create an unbalanced general ledger when you transfer the book value and accumulated depreciation out of a general ledger account that never contained the original book value and accumulated depreciation of the asset. This will apply to assets that you have created journal entries for when you installed the asset.
  • By attaching a new class to the asset you will change the general ledger accounts attached to the asset in the Fixed Assets Maintenance window (FA> Maintenance> Fixed Asset Maintenance> Accounts tab).
• Click the Submit button when complete.

4     Print the GL Distribution Report.

• Open the Print GL Distribution window (FA> Transfers> GL Distribution).
• Enter a Journal Entry Date. The journal entry date will determine the fiscal period and fiscal year the journal entries will be posted to.
• Select a Report Type for the report.
  • The summary option will display the general ledger account number, the general ledger account description, and the net transaction amount. The report will be grouped and totaled by fund.
    • The net transaction amount will display the net effect on the general ledger account, not the line item detail.
  • The detail option will display the general ledger account number, the general ledger description, debit amount, credit amount, and net transaction amount. The detail report will be grouped and totaled by GL account and fund.
• Check the Subtotal by Dept toggle to include department totals on the report.
• Once the required report settings have been specified, click the Print button   to print your report.
• Click the options arrow on the right side of the Print button to see other print options.
  • Select PDF to print the report in the default Springbrook format.
  • Select Excel to export the report data to an Excel spreadsheet as unformatted data.
  • Select Excel (Formatted) to export the report data to an Excel spreadsheet that includes much of the Springbrook formatting found on the printed version of the report.
• Click the Schedule icon next to the Print button in order to schedule the report to generate at a later date and time.
  • Enter a Date and Time to generate the report and click SUBMIT.

5     Commit the Transfers batch.

• Open the Commit Transfers window (FA> Transfers> Commit).
• Click the Continue button or press ENTER to commit the batch.  
  • If you click the Cancel button, you can still commit the batch via the Commit button.