1. Accounting
  2. Fixed Assets Management
  3. Managing Assets
  4. Asset Split

Asset Split

The Fixed Assets Management SuiteApp enables you to split assets that have not been disposed or are not defined as inactive on the asset record.

The Quantity field on the Maintenance subtab of the asset record tracks the number of individual elements that form the asset. Asset split enables a specified quantity to be separated from the original asset and create new asset records.

Asset depreciation continues to work on each asset as a whole. If different depreciation rules must be applied to some of the quantity, then that quantity must be split to create a separate asset. Likewise, if some of the asset quantity are transferred to a different class, department, location, or subsidiary, the asset quantity must first be split into a separate asset and then moved. It is not possible to combine assets (for example, reverse the process of splitting an asset).

Splitting an Asset

To split an asset:

  1. Go to Fixed Assets > Transactions > Asset Split.

  2. In the Asset ID/Name field, select an asset to split.

    The Split Details subtab will be available when you select an asset. Tax methods associated with the selected asset are displayed in the Alternate Depreciation subtab. Assets generated after the split inherits the alternate depreciation from the original asset record. The asset values are computed based on the ratio of the split quantity.

  3. In the Split Details subtab, enter the Split Quantity in the Assets Generated from Split sublist, and then click Add. Repeat this step for each asset record that you want to create from the split.

    Details of the original assets and generated assets after the split are available on the Split Details subtab. Asset values generated after the split are calculated based on the split quantity. These values can be edited. The following conditions are applied when you modify the split details:

    • Split quantity must not be zero.

    • The net book value must not be greater that the current cost for both the old and new assets.

    • The sum of the net book value and depreciation to date must equal the current cost.

    • The last depreciation amount must not be greater than the depreciation to date.

    • The residual value must not be greater than the current cost and net book value for both the original and generated assets.

    • Asset values generated after the split must not exceed the values of the original asset.

  4. Click Split to create a new split asset and update the original asset.

    You will be redirected to the Process Status page, where you can track the status of the asset split. On the Process Status page, the following processes will be queued for asset split. You can click the Details link on any process to view the process stage details.

    Process

    Process Stage

    Process Stage Description

    Asset Split

    Split Assets

    Splits assets according to the specified quantity.

    Split Alternate Depreciation Methods

    Creates alternate depreciation methods for assets generated from the split.

    Delete Old Forecast Values

    System deletes the existing depreciation schedule since it is longer accurate after the asset is split.

    Generate Depreciation Schedule

    Generate Depreciation Schedule Values

    Creates new depreciation forecast for the asset and its associated tax methods

Splitting Assets in Bulk

Guidelines and Limitations for Splitting Assets in Bulk using CSV Import

When creating a CSV file to use for bulk asset split, take note of the following guidelines and limitations:

  • The CSV file must contain values of the new assets that will be generated from the split.

  • The Asset and Quantity columns are required. If left blank, the CSV file will not be processed.

  • The Original cost, Current cost, Current book value, Residual value, and Last depreciation amount columns are optional. If left blank, the values for these columns will be automatically calculated based on the quantity ratio.

  • If you choose to enter values for the optional columns, make sure that the Original cost, Current Cost, and Current book value must all have values. Otherwise, the CSV file will not be processed.

  • The value in the Asset column must match the Asset internal ID.

  • The total values entered must not exceed the values of the original asset and the original asset must have at least one quantity remaining after the split.

  • The CSV file is subject to storage availability on the File Cabinet.

  • The CSV file size must not exceed 10 MB.

  • The numbers and currency amounts in the CSV file should follow the number formats defined in Setup > Company > General Preferences.

  • If validation errors are encountered, the CSV file will not be processed even if some rows are valid.

To split multiple assets using CSV Import:

  1. Go to Fixed Assets > Transactions > Asset Split.

  2. On the Asset Split page, click Import CSV.

  3. On the Bulk Asset Split page, click Browse and select the CSV file that contains the records you want to process.

    You can download a sample file from the link below the Select File field.

  4. Click Submit.

    The following table shows sample values for the assets that will be generated from the split transaction:

    Asset

    Quantity

    Original cost

    Current cost

    Current book value

    Residual value

    Last depreciation amount

    330

    1

    16,667.67

    16,667.67

    16,667.67

    833.33

    0

Creating a Saved Search for Asset Split User Notes

The system generates a User Note in the asset records that were generated from the split. You can create a saved search for these user notes to check the source asset ID and the FAM process record ID.

To create a saved search for user notes in asset records generated from a split:

  1. Go to Lists > Search > Saved Searches > New.

  2. On the New Saved Search page, click User Note.

  3. (Optional) On the Search Title field, enter a name for your search.

  4. On the Criteria subtab, select the Date filter, and on the Saved User Note Search popup, set the following:

    1. Date – Select within.

    2. From – Set to the earliest date of the split transactions that you want to search.

    3. To – Set to the latest date of the split transactions that you want to search.

    4. Click Set.

  5. On the Results subtab, in the Field sublist, make sure you add Date, Title, and Memo.

  6. Click Save.

For information about asset split in multi-book accounting, see Splitting an Asset in Multiple Books.

Related Topics

General Notices