Transfer Company Rental Asset to Company Owned

Explanation

This activity is used to transfer the company rental asset stock to company-owned stock. With this transfer, the fixed asset value will be moved from a fixed asset account to an inventory general ledger account. You can also set up posting controls to post the transaction to a fixed asset object.

Prerequisites

• Set up posting type M258 in posting control.
• Optionally set up M260 in posting control to use pre-accounting or use a combination of M258 and M260 posting types for different code parts.
• Company rental asset stock should exist in a specific inventory location and no reserved or transit quantity should exist.
• The stock should not be frozen for counting.
• The stock should not be in project inventory.
• Transfer of ownership is only allowed for parts that have been received into stock location, i.e., transfer is not allowed when a part is in-arrival, pallet arrival, QA or pallet QA locations and it is not allowed in pallet or shipment locations.

System Effects

• The ownership of the transferred parts in inventory and in Part Serial window becomes Company Owned.
• Postings are created with debit posting type M1, Inventory, and credit posting type M258, Transfer from Company Rental Asset to Company Owned.

Window

Inventory Part In Stock

Related Window Descriptions

Inventory Part in Stock

Procedure

1. Query for the appropriate inventory parts in stock.
2. Select one line that you want to transfer, right-click and point to Ownership Transfer and click Transfer Company Rental Asset to Company Owned.
3. Set the preposting information if you have set up pre-accounting postings.
4. Click OK.

Note: Depending on the costing method being used for the part, the Define Cost Structure dialog box will be opened to specify the value that needs to be transferred to inventory.