Asset Transfer Payment Cd
Abbreviation. When an asset is transferred payment records are generated to create an audit history of the transfer. The transfer document will create an (off set) payment for the original payments, and generate new payments using the account the asset was transferred to. The 'original' payment and the 'offset' payment will have the transfer payment code set to 'Y'. The payment for the new (receiving account) will have the transfer payment code set to 'N'. The 'Y' code allows the old payments to be excluded from depreciation.