The process used to enter and activate a fixed assets object in IFS Cloud. This will differ based on whether it has been depreciated in another system or not. If the object has been depreciated in another system, or if no acquisition transactions originate from IFS/General Ledger, the object can be imported to IFS Cloud. In this case, a voucher for the General Ledger will be created from Fixed Assets. On the other hand, if the object entered is newly acquired and has not been depreciated in any other system, the acquisition process can be used to enter it in IFS Cloud. In this case acquisition transactions must have been transferred from IFS/General Ledger to IFS/Fixed Assets (see description for Handle Acquisition process).
An object could also be imported into a company when its transferred from another company using the IFS/Fixed Assets Transfer functionality.
This process is used to transfer fixed assets objects to IFS/Fixed Assets for which no new acquisition transaction exists in IFS/General Ledger or, for a fixed asset objects which were previously depreciated in another system. This involves entering import transactions for the fixed asset object and posting them to activate.
In order to import a fixed asset object, general information such as the object ID, object description, object type, object group, acquisition reason etc. must be entered and, the status of the fixed asset object must be Registered.
A fixed asset object can be imported by entering the general acquisition value and the acquisition date. If the acquisition values of a single book differ from the general acquisition value, acquisition value adjustments can be entered per book and event date. It is also possible to enter detailed information relating to the accumulated depreciation of the fixed asset object at the time of importing.
The details of the accumulated depreciation information can be categorized as follows.
Once a fixed asset object is imported, its status will change from Registered to Import.
In order to activate the imported fixed asset object, you are required to post the import transactions entered for it. The posting of imported transactions is done in a separate window for all the fixed asset objects with the status Import.
When import transactions are posted, vouchers are created in the hold table for the General Ledger and if book-specific imported transactions exist, one or several vouchers are created in the Internal Ledger hold table(s). The voucher type which is connected to the book controls to which ledger book-specific transactions like acquisition value adjustments and, depreciations will be posted.
The posting type used to post an import transaction depends on the following factors:
The following table illustrates posting types that will be used to post import transactions with different combinations of factors.
| Posting Type | Posting/Counter-posting | Acquisition Amount/ Depreciation Amount |
System Defined Transaction Reason? |
Rotable Pool Object? | Book-specific voucher type? |
| FAP1 Import, Acquisition Value | Posting | Acquisition | N/A | No | No |
| FAP2 Import, Counter Posting, Acquisition Value | Counter Posting | Acquisition | N/A | No | No |
| FAP3 Import, Accumulated Depreciation, Balance Accounting | Posting | Depreciation | Yes | No | Yes |
| FAP4 Import, Counter Posting, Accumulated Depreciation | Counter Posting | Depreciation | Yes | No | Yes |
| FAP21 Import Pool Object, Acquisition Value | Posting | Acquisition | Yes | Yes | No |
| FAP22 Import Pool Object, Counter Posting, Acquisition Value | Counter Posting | Acquisition | Yes | Yes | No |
| FAP23 Import Pool Object, Accumulated Depreciation, Balance Accounting | Posting | Depreciation | Yes | Yes | Yes |
| FAP24 Import Pool Object, Counter Posting, Accumulated Depreciation | Counter Posting | Depreciation | Yes | Yes | Yes |
| FAP31 Import, Change Net Value, Balance Accounting | Posting | Depreciation | No | No | Yes |
| FAP32 Import, Counter Posting, Change Net Value | Counter Posting | Depreciation | No | No | Yes |
| FAP33 Import Pool Object, Change Net Value, Balance Accounting | Posting | Depreciation | No | Yes | Yes |
| FAP34 Import Pool Object, Counter Posting, Change Net Value | Counter Posting | Depreciation | No | Yes | Yes |
| FAP39 Acquisition Value Adjustment per Book, Increase | Posting | Acquisition | N/A | No | Yes |
| FAP40 Acquisition Value Adjustment per Book, Increase, Counter Posting Import | Counter Posting | Acquisition | N/A | No | Yes |
| FAP41 Acquisition Value Adjustment per Book, Decrease | Posting | Acquisition | N/A | No | Yes |
| FAP42 Acquisition Value Adjustment per Book, Decrease, Counter Posting Import | Counter Posting | Acquisition | N/A | No | Yes |
As a result of posting import transactions, the object status of all the fixed asset objects with the status Import will change to Active. Information relating to the base value may be automatically generated for the imported objects at the time the object status changes to Active (i.e. only if one or more user-defined base value types that are initiated by the acquisition value exist for the company).
This process is used to transfer an asset from one company to another. The asset which is being transferred should exist in IFS/Fixed Assets in one of the companies in IFS Cloud. The asset will be de- listed from IFS/Fixed Assets in the sending company and will updated to IFS/Fixed Assets in the receiving company. Therefore, in the receiving company's point of view, it is a new acquisition that is handled in a similar way as an import of an object.
In order to transfer a fixed asset object, general information such as the object ID, object description, object type, object group, etc. must be entered in the process of transfer and the transferred asset will be created in object status Active.
There are two different transfer methods which determine how a transferred asset is capitalized in the receiving company.
Gross Transfer Method:
This method is used to transfer an assets between companies where the historical acquisition date, acquisition value and book specific entries like acquisition value adjustments and accumulated deprecations are transferred with no changes from sending company to receiving company. So that the asset is capitalized with its historical balances. The method requires to map the fixed asset books between the sending and the receiving company in order to transfer the book specific entries.
The method is useful to change only the ownership of the fixed asset object from one company to another where the two companies are not legally independent entities.
Sell Transfer Method:
This method is used to record a sale of a fixed asset object between two companies. The sale amount could be the net book value of the sending asset or the transfer price that is manually entered in the transfer transaction. The asset being transferred is capitalized in the receiving company with a value equal to the sale amount. None of the book specific entries, i.e., acquisition value adjustments or accumulated deprecations will be transferred.
When a transfer takes place, vouchers are created and placed in the hold table in IFS/Accounting Rules and the connected internal ledgers for transferred asset. The acquisition value, acquisition value adjustment and accumulated depreciation can be counter posted to interim accounts or to an inter company payable account.
The following table illustrates posting types that will be used to post import transactions with different combination factors.
| Posting Type | Posting/Counter-posting | Acquisition Amount/ Depreciation Amount |
System Defined Transaction Reason? |
Rotable Pool Object? | Book-specific voucher type? |
| FAP64 Transfer Import, Acquisition Value | Posting | Acquisition | N/A | No | No |
| FAP65 Transfer Import, Acquisition Value, Counter Posting | Counter Posting | Acquisition | N/A | No | No |
| FAP66 Transfer Import, Accumulated Depreciation, Balance Accounting | Posting | Depreciation | Yes | No | Yes |
| FAP67 Transfer Import, Accumulated Depreciation, Counter Posting | Counter Posting | Depreciation | Yes | No | Yes |
| FAP68 Transfer Import, Acquisition Value Adjustment per Book, Increase | Posting | Acquisition | N/A | No | Yes |
| FAP69 Transfer Import, Acquisition Value Adjustment per Book, Increase, Counter Posting | Counter Posting | Acquisition | N/A | No | Yes |
| FAP70 Transfer Import, Acquisition Value Adjustment per Book, Decrease | Posting | Depreciation | N/A | No | Yes |
| FAP71 Transfer Import, Acquisition Value Adjustment per Book, Decrease, Counter Posting | Counter Posting | Depreciation | N/A | No | Yes |
| FAP72 Transfer Import, Net Book Value Difference | Posting | Depreciation | N/A | No | Yes |
| FAP73 Transfer Import, Net Value Book Difference, Counter Posting | Counter Posting | Depreciation | N/A | No | Yes |
| FAP56 Inter Company Due to Affiliated Company | Counter Posting | Depreciation | N/A | No | No |
It is also possible to roll back imported fixed asset object before the transactions of that fixed asset object are posted. Then the object status of the imported fixed asset object will change from Import to Registered after you roll back import transaction.
When a transfer is rolled back the status of the object in the receiving company will change from Active to Registered. The disposal information in the disposal tab of the Object window in the receiving the company would also be cleared.