| Transfer Journals |  |
| ERP LN identifies data for journal creation each time you transfer an asset. ERP LN creates two journals for each transfer: For the company transferring the asset, ERP LN credits the asset account, debits the accumulated depreciation account, and debits the intercompany account with the destination company. For the company receiving the asset, ERP LN debits the asset account, and credits the intercompany account. For transfers within legal companies, ERP LN also credits the accumulated depreciation account. The accounts used to create the transfer journal are stored in the integration scheme or the transaction schedule. When journals are created, ERP LN performs validation on the accounts and periods affected to ensure the entry is correct. A journal will not be created if the Suppress Journal Entries check box is selected. Note For transfers of assets with intercompany distribution lines, ERP LN makes no special entries in addition to the ones listed above. Any restatement of depreciation as a result of transfer will cause a reversal of previous journal entries for both companies. |