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Processing Intercompany Assets Transfer Transaction end to end A business requirement may arise making it necessary for you to move Fixed assets from one company
code to another (intercompany assets transfer) or from one organization unit to another, within the
same company code (intracompany transfer). The end to end process of fixed asset transfers involves
configuration settings as well as user frontend activities.
This posts will discuss the process of intercompany asset transfer end to end. It is assumed that the
reader has, at the very least, a basic knowledge of Asset Accounting. The complete cycle of
intercompany fixed asset transfer will include the below steps:
1) Configuration of the asset “transfer variant”
The key information contained in the transfer variant is the “transfer method” (gross method, net
method etc.) and the “transaction types” (retirement and acquisition).
To set transfer variant go through the menu path:
IMGFinancial Accounting (new) Assets Accounting Transactions Intercompany Asset
Transfers Automatic Intercompany Asset Transfers Define Transfer Variant
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We will assume using the net method. So select net method and double click on maintain allowed
entries.
Rel. type (meaning Company code relationship type) “1” means the entities involve in the asset
transfer transaction are separate legal independent entities on their own. “2” means that they are
part of the same legal entity.
For the purpose of intercompany asset transfer we will use rel. type “1”.
Crs-sys.ar (meaning Cross-system depreciation area). Here will put a generic value (*) which makes
the entry valid for all cross-system areas.
Select Transfer method “2” means net method.
Retmt tr.type: select Retirement Type “230” is “Retirement to affiliated company with revenue”.
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Acq.trans.typ: select Acquisition Transaction Type “157” is “Net intercompany transfer acquisition
prior-year acquisition affiliate”
Save your entries and go back.
2) Creation of a new GL Accounts the “Fixed Asset Acquisition Clearing” in both company codes
If it does not already exist, create a clearing account (you many call it Fixed Asset Acquisition
Clearing) account.
Use transaction FS00 to create this account in both company codes, with the following
characteristics:
a. Control Data, Account Control in Company Code: the checkbox “Only Balances in Local
Currency” must be checked.
b. Control Data, Account Management in Company Code: the checkbox “Open Item
Management” must be checked.
c. Create/Bank/Interest, Control of Document Creation in company code: the Filed Status
group must be “G008 Assets area clearing accounts“
3) Assign the newly created GL Account in the account determination setting (also a configuration
step)
Follow the menu path: IMG Financial Accounting (new) Assets Accounting Integration with
the General Ledger Assign G/L Accounts
Enter your Chart of Depreciation and press enter.
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Select your chart of depreciation and double click on “account determination”.
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Select your account determination object and double click on “balance sheet accounts”.
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Input the G/L account created in the previous step above (Fixed Asset Acquisition Clearing), then
save.
Note: if this step is not done and you proceed with the intercompany asset transaction, you will get
the error Account 'Acquisition from affiliated company' could not be found for area 01
4) Executing an intercompany asset transfer transaction
This step comprises of three steps in one. Within this single transaction you will be doing the
following:
a) Creation of new asset in the receiving company code.
b) Asset retirement in the sending company code,
c) Posting acquisition in the receiving company code.
Use the menu path:
Accounting Financial Accounting Fixed Assets Posting Transfer Intercompany Asset
Transfer
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Or use transaction ABT1N
Select your company code and press enter. This should be the “transfer from” company code. The
company code the asset is being moved from.
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Enter document date, posting date and asset value date.
Choose “REV. from NBV” and “01 Book depreciation” if revenue from Net Book Value.
Input the “transfer to company Code”. This is the company code receiving the asset.
Select “New Asset”, if a new asset is to be created in the receiving company code.
Click on Master Data button to create the Asset master data in “Create Asset Screen” that will pop up,
as below:
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Select “sending Asset” to create with reference to sending asset.
Then press enter.
The system will go back to the Intercompany asset transfer screen, as below:
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Now move to “additional details” tab
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Simulate
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If you are okay with the result of the simulation, go back and save.
Display the documents using transaction fb03 to see the accounting postings
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Click on the Cross company document to display the full postings