Single Asset Revaluation

To revalue a single asset:

1. Go to Fixed Assets > Transactions > Asset Revaluation.

2. On the Asset Revaluation page, enter values for the following fields:

   • Asset ID/Name — Select the asset by name or ID.

     When you select an asset, the page shows the revaluation amounts by accounting book and method.

   • Accounting Books — Select the accounting book that you want to revalue.

     Note:

     This field is available only if you enabled the Multi-book Accounting feature.

   • Write-down % – Enter the write-down percentage for revaluation. This applies to tax methods linked to an accounting book.

     For compound assets, the write-down percentage applies to all components. To set a different percentage for each component, go to Step 4.

   • Transaction Date – Enter a journal date for this transaction. If the field is blank, the system uses the date when the revaluation is processed.

     The revaluation date must be on or after the Last Depreciation Date.

   • Transaction Reference – Enter a reference to identify the journal entry for this transaction.

   • Write-down Amount – The system calculates this amount from the Current Cost and the Write-down %. You can enter a write-down amount to override the calculated value. This amount is subtracted from the current net book value.

     For compound assets, this amount shows the total write-down for all the components.

   • Adjusted Residual Value – Enter the new residual value of the asset.

   • Adjusted Lifetime – Enter the new lifetime of the asset.

     If the new lifetime equals the last depreciation period, the asset’s status becomes Fully Depreciated. If the asset’s revision rule is set to Current Period, the current net book value equals the residual value, and the cumulative depreciation equals the asset current cost.

   • Adjusted Depreciation Method – Select the new depreciation method that for this asset.

3. Click Calculate to compute the write-down amount based on the write-down percentage.

   If Multi-Book Accounting is enabled, clicking Calculate also enables the revaluation fields for the selected accounting books. If this feature isn't enabled, you don't have to click Calculate to enable the revaluation fields. They're automatically enabled when you select an asset.

   Note:

   If you're revaluing a simple asset, any change to the accounting book selection and write-down percentage requires you to recalculate the write-down amount. Removing a book, for example, requires you to click Calculate to remove the book's accounting method from the revaluation. If you're revaluing a compound asset, you can click Process Revaluation regardless of any changes after calculating the write-down amount.

4. To revalue only a specific component, or set different write-down percentages for each component, go to the Component section. Enter the write-down percentage for the component you want to revalue.

5. Click Process Revaluation.

   The system creates journal entries to post the difference in value.

   The system writes a revaluation depreciation history record to each component. The compound asset record shows the total component revaluation, but has no journal entries of its own. You can find the journal entries in the component asset record under Components > Depreciation History subtab.

   If you enabled Custom Transactions and Use Custom Journals, the system creates a specific journal entry for asset revaluation. You can view these journal entries in Fixed Assets > Transactions > Journal Types. You'll need to set the journal entry's status to Approved before it posts. For more information, see Viewing and Approving Custom Journal Entries.

   If Require Approvals on Journal Entries is enabled, and you don't have permission to approve journal entries, an administrator must approve them before posting.

   You'll be redirected to the Process Status page, where you can track the revaluation's status.

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