Transfer Funds from a capital asset account and object code to a department account and object code.
Step-by-step guide
- Create a Distribution of Income and Expense Transaction. Jump To.... Distribution of Income and Expense.
2. Fill in a description.
3. Find the Accounting lines section. In the FROM section enter an account(s) with a capital asset object code (ex 8215), an amount, then press the green plus sign at the right.
4. In the TO section enter an account(s), non-capital asset object code(s) and an amount(s). More than one account can be entered, however the total amounts must add up to the total amount in the FROM section.
5. Note Multiple accounts and object codes can be entered in either or both sections but the TOTAL in the FROM section must match the TOTAL in the TO section.
6. In the Accounting lines for Capitalization Section, press the Generate button.
7. Next, check the select box to the right of the accounting entry. Select all that apply. Then, select an entry from the drop-down for Select a distribution method. This example uses Distribute Cost evenly. Also, press either the "Create Asset" or "Modify Asset" button. This example uses "Modify Asset" .
8. If Create Asset button was pressed, go to the Create Capital Assets section and fill in the required information. If the Modify Asset button was pressed, go to the Modify Capital Assets section and fill in the asset number, then press the Redistribute Total Amount button.
9. Press Submit, taking note of the document number that was generated.
10. Approve the document to Final.
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