Split a fixed asset

• 5 minutes

You might want to split a percentage of one asset book to a new asset book. Typically, someone in an accountant role would perform this procedure.

First, you should create a new fixed asset so that you can perform the split afterward:

1. Go to Fixed assets > Fixed assets > Fixed assets.

2. Select New.

3. In the Fixed asset group field, enter or select a value.

4. Note the fixed asset number to use in the split process later.

5. In the Name field, enter a value.

6. Close the page.

Now you can split the fixed asset:

1. In the list, find and select the fixed asset to split.

2. Select Books.

3. Select the book to split to the new asset.

4. Select Functions.

5. Select Split fixed asset.

6. In the To fixed asset field, enter or select a value.

7. In the To book field, select the dropdown to open the lookup.

8. In the Transaction date field, enter a date.

9. In the Percent field, enter a number.

10. In the Journal name field, enter or select a value.

11. Select OK.

Your next step is to post the journal transaction:

1. Go to Fixed assets > Journal entries > Fixed assets journal.

2. In the list, select the journal that you created with the split process.

3. Select Lines.

   Verify that the system created the journal lines. The system creates an Acquisition adjustment transaction for the original asset to decrease the value by the percentage that you specified during the split process. Then, the system creates an Acquisition transaction for the new asset for the same amount.

4. Select Post.