Revaluing mass assets

Use this procedure to determine the mass asset revalue surplus and loss.

  1. Select Assets > Mass Updates.
  2. In the Actions panel, click Revalue.
  3. In the Selections Options section, specify this information:
    Selection Name
    Specify the selection name for the mass asset revalue.
    Revalue Date
    Select the effective date for the mass asset revalue.
    Update
    Select Yes to release the processes.

    Select Delete to reset the processes.

    Note: If you previously ran the update with Yes selected, the records are moved to InProgress status and release assets are not run. If you run the mass selection update with Delete selected, the selected assets are also removed from Revalue InProgress status.

    Select No to just preview the selection.

    Book
    Select the book for this process.
    Revalue
    Specify the revalue amount and percent, and select a sign to accept journal entries that are created for the revalued assets.
    Posting Entries
    Select whether to create journal entries for the mass asset revalue.
    Posting Date
    Select the posting date.
  4. In the Output Options section, specify the way in which output totals are printed:
    Location
    Select Yes to print the output totals by location.
    Division
    Select Yes to print the output totals by division.
    Asset
    Select Yes to print the output totals by asset.
  5. In the Report Distribution section, select a distribution list and export type for Mass Asset Revalue Report.
  6. Click Submit.