Optional; found on the Additional Data tab.
A transfer transaction (i.e. an intercompany transfer) is intended to permit you to stop recognizing a lease’s activity in one department or account and start recognizing it in a new entity, while leaving prior activity untouched. You might use a user-defined field, asset class, financial group, or an account number to specify where activity for a lease should be booked, but now the lease's responsibility is moved someplace new.
To accomplish this transaction, transfer terminate the original lease in the current reporting period (enter an early termination type of Transfer, and specify the date). Next, copy the lease (Lease/Copy), creating a new lease (typically with a similar number, so the two leases are listed next to each other in reports). All of the financial information on the lease remains the same (begin & end date, rents, etc.). Change the appropriate code on the lease to indicate the new group it belongs to. Then check the Transfer Addition box on the Additional Data tab; for the Effective Date, enter the same date as the early termination date on the original lease. Change the booking date to a date in the current reporting period.
| Step | Action |
| 1 | Early terminate the original lease, using the Transfer early term type. |
| 2 |
Copy the lease (Lease > Copy) *If your lease has revisions, select All revisions when copying the lease. Note: The early termination is not copied over, but all other lease data is copied. |
| 3 | Update the new lease with the corrected department/entity information. |
| 4 | Check the Transfer Addition box on the Additional Data tab; Enter a Transfer Addition Date matching the early termination date on the original lease. |
| 5 | Click Save Lease. |
The new lease will add the asset and obligation that the old lease had at the date of termination, and will carry on from that point. The old lease will typically have a termination gain; the new lease will have a loss of an inverse amount. (In the rare event of a termination loss, there will be an addition gain.)
Related links
Transfer termination | Early termination | Termination gain/loss