How to Split a Capital Asset in Accounting Online

At this time, capital assets cannot be split directly in Accounting Online. However, there are a couple of simple workarounds you can use to achieve the same result, depending on how the asset was originally entered.

Below are the recommended approaches.

If the capital asset was created from an original purchase (for example, a bill or expense):

1. Open the original purchase transaction.

2. Edit the transaction to include two separate capital asset lines.

3. Leave the GST on a single line (do not split the GST).

4. Clearly label the asset lines, such as: 

   o Capital Asset – Part 1/Main cap asset

   o Capital Asset – Part 2/accessory (trailer etc.)

5. Save the transaction.

This effectively creates two linked capital assets while keeping the tax reporting correct.

If the asset was not entered through a transaction:

1. Go to More → Capital Assets.

2. Edit the existing capital asset so it represents Part 1/Main cap asset

3. Add a new capital asset to represent Part 2/accessory (trailer etc..)

4. Adjust the values and details as needed so the total still reflects the original purchase.

Once the asset has been split into two capital assets, you can:

   • Record a sale transaction for either part individually, or

   • Sell both parts separately if required.