Transferring to a Session

To access this form, go to Transactions>Fixed Assets>Depreciations and Disposals>Transfer to a Session

Use this form to include your calculated depreciation, adjusted deprecation, disposed depreciation, and asset disposals into a session to be posted to the general ledger. Your entries will be posted immediately after transferring the session.

 

Fill out the fields on the form. See below for more information on each section of the form and its fields.

Session Information

Session ID	Enter a unique session ID
Session Date	Enter a valid session date
Description	Enter a description for the session

Document Information

Starting Document Number	Enter a starting document number. This is the first document used for the transaction entries generated. The number of documents generated is determined by the Transfer Type (below)
Document Date	Enter a valid document date - this date serves as the effective date for the transaction entries
Description	Enter a description for the document
Transfer Type	This option will determine the way the session and documents are saved. The Detail option will create a document for each asset in the session The Summary option will create a summarized document of the entries, but will not display individual asset ID information. The Summary option creates one document for each depreciation date, entry type (depreciation calculation, disposal, or adjustment to depreciation), and account code combination.

 

After filling out the fields above, select the entries you'd like to transfer from the Available Items to Transfer grid.

 

We recommend generating a Pre-Transfer Depreciation/Disposal Register report to ensure your entries are accurate before transferring them to the general ledger. Certain actions, such as disposals, cannot be undone once transferred. To generate the report, click .

Note: This step is not required - if you're ready to transfer your entries without review, click the button at the bottom of the page. If not, proceed as outlined below.

 

Click the Depreciations and Disposals link at the top of this window to return to the Transfer to a Session page.

Your entries will be saved while you review the report. No entries will be transferred until you click on the Transfer to a Session page.

 

To proceed with the transfer, click the Depreciations and Disposals breadcrumb link at the top of the window, then click . Transferring the session will immediately post all calculations to your general ledger.

Transferring the session creates JVD (Journal Voucher Depreciation/Disposal) transaction entries and posts them.

When you transfer a session, the system automatically updates the individual asset's profile pages to reflect updated depreciation, last depreciation date, and any other relevant fields (go to Managing Current Assets to see all the fields in an asset's profile page).

A disposed asset's profile page will be updated to reflect its new "Disposed" status, along with updated Cost, Salvage, Amount to Depreciate, Accumulated Depreciation, and Life values.

Note: When you close a fiscal year, you will not be able to depreciate assets that have a Last Depreciation Date within that fiscal year. In addition, if the asset has a status of Discontinued/Disposed, it cannot be changed after the year is closed.

 

Common questions about transferring fixed asset entries to the general ledger