Setting up for revaluation of fixed assets

  1. On the Asset Company, specify this information:
    Revalue
    Select this check box to enable the revaluation of assets for the company. All Account Groups and Asset Dimension Groups for the company must already have revalue details.
  2. On Asset Group, specify this information:
    Revalue Surplus
    Define the accounts to use to post journal entries that are created when you are revaluing assets.
    Revalue Loss
    Define the accounts to use to post journal entries that are created when you are revaluing assets.
  3. On Asset Dimension Group, specify this information:
    Revalue Gain
    Define the dimensions to use to post journal entries that are created when you are revaluing assets.
    Revalue Loss
    Define the dimensions to use to post journal entries that are created when you are revaluing assets.
  4. On Asset Type, specify this information:
    Asset Type
    Select this check box to enable revalue depreciation. When allowing revaluation, the Revalue Method parameter must also be specified. There are two methods available to address revaluing depreciation: Elimination and Proportionate.
  5. The Asset Revaluations List is a list of assets that have undergone revaluation and the transactions resulting from this process.