These are the steps to take when you want to transfer an asset to a tax pool (e.g. Low Value Pool - LVP):
- From the View Assets page, select the asset you would like to transfer to your Tax pool,
- Ensure you are in the Tax regime,
- Select 'Transfer to Pool',
- Select the pool you would like to transfer your asset to,
- Select the effective date of the transfer,
1. The options of which pool you can transfer to will only consist of pools that have previously been set up in register settings.
2. A pool (e.g. lo value pool) is not an asset group, it's a 'method'. So, in other words, you can have Low Value Pool assets in any Asset Group (Motor Vehicles, Plant & Equipment and so forth).
Troubleshooting: If the effective date you would like to transfer your asset to the tax pool are not displaying it may be that transactions have been applied to the asset after this desired date. Reverse the transactions, to unlock the transfer date.