AssetAccountant doesn't have a single "transfer" button between registers, but the correct approach to move assets with no gain/loss recognition and preserve the original history is a two-step process:
Step 1 - Dispose in the source register
- Dispose of the assets in the current company's register using the Write-Off method (rather than Sale).
- This avoids recording a sale proceeds figure and keeps the disposal clean.
- Note the written-down value (WDV) for both Tax and Accounts as at the transfer date.
- If you have a large number of assets, this can be done in bulk.
- Tutorial video: Bulk Disposals
Step 2 - Add in the new company's register using an Opening Balance
In the new register, add each asset using the Opening Balance import or manual entry. You will need to supply:
- The original Purchase Date (actual acquisition date)
- The original First Use date
- The original Cost
- The WDV as at your transfer/cutover date (for both Tax and Accounts)
AssetAccountant will accept the WDV as "true" from the opening balance date and calculate depreciation forward from there using the original method, rate, and life - so the asset continues exactly as it was in the old register.
- Tutorial video: Adding Assets - File Import