You can transfer a single general asset to a low value pool or small business pool.
An asset can be transferred in the year of purchase or in a subsequent year. If you transfer the asset in the year of purchase, the value contributed to the pool is the cost price. If you roll the asset over to next year and then transfer, the rolled over general asset is converted to sold one and a new pool asset is created (the general asset in the previous year can’t be edited or sold).
- Open the Assets Listing page. See Opening an asset year.
- Select the asset that is to be transferred to pool. The row containing the asset must highlighted.
Click Transfer to low value pool or Transfer to small business pool on the Tasks bar.
You can select Functions > Transfer to low value pool or Transfer to small business pool on the right-click menu.
These options will be greyed out if the selected asset is already in a pool.
A confirmation message displays.
- Click OK. The asset is transferred to the pool and the Assets Listing page is updated.