Accounting entries for the internal transfer of fixed assets
1, the internal transfer of fixed assets do not need to be accounted for, only need to modify the use of the department and the use of the person under the fixed asset module
2, such as must be based on the internal transfer of fixed assets to make the corresponding accounting entries, such as the purchase of the Department of computers to the sales department, the relevant accounting entries:
Borrowing: Fixed Assets - Electronic Equipment - Computer - Sales Department
Credit: Fixed Assets - Electronic Equipment - Computers - Purchasing Department
What is the accounting entry for transferring a fixed asset without compensation?
Transferred in at no cost, which can be interpreted as a donation:
Borrow: Fixed Assets
Loan: Non-Operating Income - Donation Profit
What are fixed assets?
Fixed assets are non-monetary assets held by an enterprise for the production of products, provision of labor services, leasing or business management, the use of more than 12 months, the value of which reaches a certain standard, including houses, buildings, machinery, machinery, means of transportation, and other equipment, appliances, tools and other equipment related to production and business activities. Fixed assets are the enterprise's means of labor and the main assets on which the enterprise relies for production and operation.
Fixed assets belong to the asset class accounts, debit indicates fixed assets increase such as new purchases, accept donations, etc. generated, credit indicates fixed assets decrease such as scrapping disposal, sale, disposal of abnormal loss cleanup, etc.. Asset accounts include cash on hand, bank deposits, other monetary funds, trading financial assets, notes receivable, accounts receivable, prepayments, dividends receivable, interest receivable, other receivables, bad debt provisions, material purchases, packaging and other subjects.