Transfer Assets

Assets may be transferred

To transfer a capital asset to another department, please use the Asset Transfer document located within the Finance System. For interdepartmental transfers, the Transfer Of Funds document must be completed and finalized prior to submitting the Asset Transfer document.

How to transfer capital assets to another unit

1. Enter the Finance System.

2. On the "Main Menu" tab, locate the "Lookup and Maintenance" box.
    Under "Capital Asset Management" click the Asset link.

3. If you know the inventory tag number (barcode #), enter it in the "Tag
    Number" field and select Search. If you need to look up the asset to
    find the tag number, type your Organization Code into the "Organization
    Owner Organization Code" field and select Search.

4. Find the asset in the "Items Retrieved" section at the bottom of the page
    and select the Transfer link within the "Actions" area. If you do not see
    the link, you may not have the authorization to initiate the document or
    the asset has been retired. Please check with your financial officer or
    CAM for more information.

5. In the "Document Overview" tab, add a description (e.g. "Transfer asset
    XX to organization XX)

6. Enter additional details in the "Explanation" field.

7. In the "Asset Transfer" tab under "New - Transfer to Receiving Organization" enter:
     Organization Chart of Account Code: MS
     Organization Owner Account Number: Account number of the receiving organization
          A. If funds are being transferred (interdepartmental sale)
               1. Check the "Interdepartmental Sales Indicator" box
               2. Enter the previously created "Transfer of Funds" financial document number.

8. In the "Asset Location" tab under "On Campus" enter:
    "Campus": EL
          A. If the asset will reside on campus, enter:
               "Building Code": Building number where the asset will reside
               "Building Room Number": Room number where the asset will reside. (If you are transferring
               a vehicle, leave this field blank.)
          B. If the asset will reside off campus, enter:
                Name of the person in possession of the asset and the address, city, state, postal code, and country where the asset will reside.

9. In the "Notes or Attachments" field, add any additional documentation

10. Select Submit at the bottom of the page

Once the releasing and receiving organizations have approved the transfer document, the asset will belong to the new owner organization.