Splitting an Asset.

Hi All,

Recently I got a request from one of our customers, what if we purchased 100 chairs, added then as a single asset, then later decided to split between 2 different places?

Immediate answer was - ok, may be you can dispose it and create a new one - tough way.

Then we decided to add a functionality to Acumatica Fixed Assets module, that does exactly what is stated in the header - Asset Splitting.

In fact the operation of Asset split is not simple. We should divide Accumulated Depreciation and Cost of Asset between spinoffs, however existing Depreciation Expenses should not get split. It simply because the new asset owner - would it be a place or department, may not wish to get incurred expenses from the previous one.

Also, we can use asset split if need to dispose asset partially.

So what this operation do - it takes the original asset, reduces its cost and accumulated depreciation, it also reduces quantity if it was more than 1 before split.
Then it creates a new spin off assets, as many as you decided during splitting, it can be just one spin off or multiple. All will get a fraction of a cost, then accumulated depreciaion.

Usefull Life of the spin offs should not change, it must follow the original asset. At least at the moment of split.

Thanks to our development team, we had implemented this functionality fast and accurate in version 3.0


All the best,

Sergey.