¶ Purpose
The Asset Transfer Receipt screen allows the user to receive the assets sent from another location of the company as required.
¶ Prerequisites
The following transactions must be completed.
- The Prefix Combination Settings need to be updated.
- Access rights must be assigned to the responsible user for the transaction.
- The Asset Master is required.
- The Asset Transfer transaction must be completed.
- Asset profit and loss accounts are required.
- Depreciation, CWIP and Capital Ledgers are required.
¶ Asset Transfer Receipt
The Asset Transfer Receipt screen allows the user to add details of the asset that is received from another unit.
Navigation: Main – Menu ⇢ Transactions ⇢ Finance ⇢ Finance Entries ⇢ Finance ⇢ Select Financial Year ⇢ Show List ⇢ Assets ⇢ Asset Transfer Receipt
- The user can search for a particular transaction based on the Transaction Type, Transaction From (Date) and Transaction Number.
- The Asset Transfer Receipts screen allows the user to enter details into four sections as listed below.
- General
- Attachments
- Additional Details
- Other Deductions
- The General section displays details such as Transaction No., Trans. Date, Bill Date, Aging Start From, Currency Type and Exchange Rate.
- The user must select the appropriate PC/CC/IO from the dropdown list.
- The user must select the Party details, either Vendor or Customer, from the dropdown list.
- If the user selects the Party as Vendor, the user must select the Vendor Name from the drop-down list.
- If the user selects the Party as Customer, the user must select the Customer Name from the drop-down list.
- The Credit Period will appear automatically if it is defined in Party Master.
- The user must select the appropriate Asset Tr. No. from the dropdown list.
- Once the user selects the Asset Transfer Number, the Amount (Cr), Net (With TDS), and Expense Details (Account Head, Description, Amount, Assessable Amt and Dr /Cr) details will appear.
- The user can enter details of the Credit Period if required.
- The user can enter the Payment Details.
- The user must enter details of the Bill Number.
- The user can enter the Flag details.
- The user can select one of the Round Off options from the Round Up, Round Down, or None.
- The Attachment section allows the user to upload attachments if required.
- The Additional Details section allows the user to enter additional details if any.
- The Other Deductions section allows the user to add other deduction details if required.
- Double-click on the Account grid to select the appropriate Account Name.
- The user must enter the Amount.
- The Net Amount will be updated based on the other deduction, as shown below.
- Click Save, the following message will appear.
- Click Yes and the transaction number will appear on the left panel of the screen.
¶ Cost Distribution
The Cost Distribution link allows the user to view and edit the expenses of assets.
- The user can search for a particular transaction based on the Transaction Type, Transaction From (Date) and Transaction Number.
- The user must select the appropriate transaction number from the left panel of the screen.
- Click the Cost Distribution link, the following message will appear.
- Click Yes, the following screen will appear.
- The Cost Distribution screen displays transaction details such as the SI No., Tr. No., Tr. Date, A/C Name, Description, Dr, Cr, Cost and allows the user to view cost distribution details.
- Click the Edit link, the following screen appears.
- The Cost Distribution section displays transaction details such as the Type, Cost Distribution and Amount details.
Note: The system automatically distributes the cost, and the user can view and modify the distribution if required.
¶ Approve Transaction Details
The Approve link allows the user to approve the added or existing transaction details if required.
- The user can search for a particular transaction based on the Transaction Type, Transaction From (Date) and Transaction Number.
- The user must select the appropriate transaction from the left panel of the screen.
- Click Approve, the following message will appear.
- Click Yes, to approve the transaction, and the transaction number will turn green.
¶ Update Attachments
The Update Attachments link allows the user to upload the attachment for an existing transaction if required.
- The user can view details of an existing transaction based on the Transaction Type, Transaction From and Transaction Number.
- The Asset Transfer Receipt screen allows the user to enter details in four tabs, as mentioned below.
- General
- Attachments
- Additional Details
- Other Deductions
- The Attachment section allows the user to upload attachments. The user uploads the attachment.
- Click Update Attachments, the following message will appear.
- Click OK.
¶ Audit Option
The Audit option allows the user to review and confirm details like amount, date, and account information.
- The user can search for a particular transaction based on the Transaction Type, Transaction From (Date) and Transaction Number.
- The user must select the transaction number from the left panel of the screen.
- Click the Audit link, the following message will appear.
- Click Yes.
¶ Data Preview
The Data Preview option allows the user to view the expense details in HTML format.
- The user can search for existing transactions based on Transaction Type, Transaction From (Date), and Transaction Number.
- The user must select the Transaction Number from the left panel of the screen.
- Click Data Preview, the following screen will appear.
- The ITSPL Report Viewer screen allows the user to print all selected documents one after another.
- Click Print, to print documents.
- Click Preview, to view details before printing.
- The user can view details in Excel and HTML format if required.
¶ Delete Transaction Details
The Delete option allows the user to delete the added or existing transaction details if further transactions are not executed.
- The user can search for a particular transaction based on the Transaction Type, Transaction From (Date) and Transaction Number.
- The user must select the appropriate transaction number from the left panel of the screen.
- Click Delete, the following message will appear.
- Click Yes, the following message will appear.
- The user must enter the appropriate Comments.
- Click OK, to delete the transaction.
¶ Functional Use Cases
| SL No. | Use Case | Business Scenario | Functional Outcome in ERP |
|---|---|---|---|
| 1 | Record Inter-Unit Asset Receipt | Asset received from another unit or branch needs to be recorded at the receiving location. | System creates an asset receipt record with transaction details based on the selected Asset Transfer Number. |
| 2 | Record Additional Expenses | Additional costs incurred during inter-unit transfer such as transport, loading, etc. | User adds expenses under “Other Deductions” and system updates Net Amount accordingly. |
| 3 | Approve Asset Receipt | Authorized personnel review and confirm asset receipt details before finalization. | System changes status of transaction to "Approved", enabling further processing like depreciation. |
| 4 | Allocate Cost Distribution | Asset value needs to be distributed across cost centers or departments. | System allows users to distribute the cost and stores details for financial reporting. |
| 5 | Attach Supporting Documents | Invoices, transport receipts, etc., must be uploaded as proof. | The system stores attachments under the “Attachments” tab for future reference or audits. |
| 6 | Preview Asset Receipt | User requires a preview of the asset transaction details for review or printing. | System generates preview in HTML or Excel format showing all transaction details. |
¶ Use Case Scenario
- Click here for a detailed use case scenario.
¶ Transaction Checklist
| Step | Checklist Item | Details / Purpose |
|---|---|---|
| 1 | Ensure Prefix Combination Settings | Required for generating transaction numbers. |
| 2 | Confirm Access Rights | Assign necessary permissions to users handling this transaction. |
| 3 | Verify GRN in Asset Master | Ensure that GRN is linked under the Asset Master for seamless linking during receipt. |
| 4 | Check Asset and Profit/Loss Accounts | Validate that all related ledgers are created and active. |
| 5 | Confirm ST (Sales Tax) Settings | Ensure tax settings are correctly configured in the system. |
| 6 | Ensure CWIP and Depreciation Ledgers | These are needed if the asset is to be capitalized or depreciated. |
| 7 | Confirm Data Availability | Ensure Asset Transfer Number and other key details are available before transaction. |
| 8 | Upload Supporting Attachments | Prepare transportation documents, invoices, etc., for uploading in “Attachments” tab. |