Creating Revaluation Transactions

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The AM Revaluation form will allow you to create transactions that revalue an Asset Book in an Asset, accounting for any gain or loss including maintenance of a Revaluation Reserve.  Before being revalued the Asset must firstly be depreciated up to the date before the revaluation date.

Assets are normally depreciated in bulk via the AM Reporting functionality, which is further detailed in the Asset Bulk Depreciation Process section.  Assets can be depreciated individually by clicking on the  button on the Main tab of the AM Asset Maintenance form, as detailed in the Amending Assets section.

The AM Revaluation form can be accessed by selecting the Financials option on the Financials Web Main Menu:

Then the Asset Management menu option:

Then the AM Asset Transactions menu option:

Then the AM Revaluation menu option:

The AM Revaluation form will open:

This form can also be accessed by clicking on the  button on the Main tab of the AM Asset Maintenance form, as detailed in the Amending Assets section.  In this case certain fields will be populated from the Asset on the AM Asset Maintenance form:

A  button will also be available - clicking on this button will open the AM Asset Book Values Before the Transaction screen, detailing values of the Asset Book before the Revaluation transaction.  This screen is further detailed in the Asset Book Values section.

To create a Revaluation transaction add the code of the required Asset to the Asset Code field, if not already populated.  Alternatively click on the Find Asset button located to the right of this field, .  This will open the AM Find Asset form allowing you to search for and select the required Asset.  This form is further detailed in the Find Asset section.

Select the relevant code in the Revaluation Transaction Code drop-down field.

A unique transaction reference will need to be added to the Reference 1 field where these are not automatically generated.  Where these are generated automatically this field can be left blank.  Please note: this field may have a different label dependent on your configuration.

Click on the  button:

The following fields may be displayed (mandatory fields are notated with a red asterisk *):

At the bottom right of this field is a  button.  Clicking on this button will open the AM Asset Book Values Before the Transaction screen, detailing values of the Main Asset Book in the Asset before the Revaluation transaction.  This screen is further detailed in the Asset Book Values section.

This field is:

These are:

Please note: The amount in the Estimated Life field on the Asset will also be recalculated from the date in Depreciation Start Date field on the Asset.

These are:

This field is:

Please note: the number of Children in this field will not include any Child Assets that have been Disposed or have been Cancelled.  In addition Assets with a Depreciation Method specified on the Asset Book of Units of Use will not be able to include any Child Assets for Revaluation.

Where this option is selected this Asset, i.e. the Parent Asset, will be revalued.  This option can be deselected where only the Child Assets are to be revalued - some of the fields detailed above will be used when processing Child Assets such as the Revaluation Reason Code and Comments fields.

Please note: Only Child Assets that have not been Disposed or Cancelled will be processed.  In addition Assets with a Depreciation Method specified on the Asset Book of Units of Use will not be able to include any Child Assets for Revaluation  The Depreciation Method can be found on the Grid at the bottom of the AM Asset Maintenance form of the Asset.

The buttons at the bottom of the form are as follows:

Another field near the top of the form will also provide details where the Asset is a Child of another Asset:

Clicking on the  button will open the AM Asset's Parents form, displaying the Asset's Parents.  This form is further detailed in the Assets Parents section.

Where the Process Child option has been selected on the form, the relevant Child Assets will be included in a Grid at the bottom of the form, i.e. those that have not been Disposed or have not been Cancelled.

The same fields as detailed above are still available and some can be changed, if required.

Please note: Where the Revaluation Type field is initially set to Revaluation, once the to Revaluation transaction has been created, this field will change to either Upward Revaluation or Downward Revaluation dependant on whether the amount on the Revaluation Value field is higher or lower than the Carrying Value on the Asset.  In the example above it has changed to Downward Revaluation as the new amount is lower.

You will also note that the status of the transaction has now changed to  and that further buttons are now be available at the bottom of the form.

These are:

Where the Process Child option has been selected on the form ensure that the Process Child column in the Grid at the bottom of the form is also selected.

Where more than one Line is included in the Grid select this column for each Child that is to be processed.

Also ensure that the following columns are also completed as required for each Child that is to be processed:

Once the  button has been selected the form will change to a read only version of the AM Revaluation form where no further changes can be made and the Status of the Revaluation transaction will change to .  This form is further detailed in the AM Revaluation (Readonly) form section.