Transferring to Fixed Assets Register
PANTHEON
A FA in acquisition is transferred to the Fixed Assets register once it meets the conditions for activation as a usable FA. This occurs when the FA has been fully delivered and received, any required assembly or installation has been completed, and the FA is ready for its intended operational use.
The transfer is performed using Entry Type 43 – Transfer to Fixed Asset Register, available in the Value tab of the Register – Fixed Assets in Acquisition register.
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Case summary
A new sewing machine, prepaid in advance, has arrived at Tecta Plc. While awaiting delivery, the FA was recorded in the Fixed Assets in Acquisition register. Now that the sewing machine has been delivered and is ready for operational use, the person responsible will transfer the machine from the Fixed Assets in Acquisition register to the Fixed Assets register. The transfer is performed using Entry Type 43 – Transfer to Fixed Asset Register in the Value tab.
This is done as follows:
- Accessing the Value Tab
- Transferring to Fixed Assets Register
- Reviewing the New Fixed Asset
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Person responsible opens the FAs in acquisition register by navigating to Financials | Fixed Assets | Register – Fixed Assets in Acquisition.
The Register – Fixed Assets in Acquisition register opens.
The person responsible uses the Toolbar features to navigate to the inventory number which will be transferred to the Fixed Assets register. In this case, the FA is recorded under inventory number 00010.
When inventory number 00010 is selected, the person responsible opens the Value tab.
In the next step, the person responsible transfers the FA in acquisition to the Fixed Assets register.
The person responsible selects the last entry line by clicking it. The selection is confirmed when the line is highlighted.
The person responsible presses the down arrow key on the keyboard to create a new entry line.
When the new entry line is created, the person responsible clicks the arrow in the Entry Type field and selects 43 - Transfer to Fixed Asset Register Entry Type from the drop-down menu.
When the entry type is selected, a window titled Transfer from Acquisition to Fixed Assets opens, displaying the information about the FA in acquisition from the the Value tab.
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Warning
If the Transfer from Acquisition to Fixed Assets window is accidentally closed before completing the transfer, first change the Entry Type to a different one (for example, 41 – Acquisition). Then select the Entry Type 43 – Transfer to Fixed Asset Register again and the transfer window will re-open.
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The person responsible enters 4. 8. 2025 as a Date Sent, which represents the activation date of the FA.
The person responsible will transfer the full FA value of €5.000, create a new inventory number, and keep the original FA name unchanged.
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Hint
The total value of the FA in acquisition becomes the purchase value of the new FA.
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The person responsible clicks the Transfer to Register button to complete the transfer.
In the next step, the person responsible reviews the newly created FA.
After clicking the Transfer to Register button, the Fixed Assets register opens to the Value tab of the newly created inventory number 00048, where a new entry has been recorded.
The new entry has the same Date as specified in the Date Sent field, a purchase value of €5.000, and an Entry Type set to 1 - Acquisition.
The person responsible opens the FA Links tab, where the transferred FA in acquisition is listed, confirming the connection between the FAs.
The person responsible opens the Accounting tab. All data entered in the Fixed Assets in Acquisition register has also been transferred to the new inventory number.
The person responsible has successfully transferred the FA in acquisition to the Fixed Assets register, where any missing data can now be entered and edited.