Revaluing an asset

You can use the Asset Valuation InfoViewer to revalue a single asset using the net value method. When using this method, you do your own calculation and then specify the revalued amount of the asset, rather than using the system to recalculate the value. After you calculate depreciation, the revalued amount you specified becomes the new written down value (WDV) of the asset.

  1. Load the valuation you want into the Asset Valuation InfoViewer.
  2. On the Revaluations tab, click Add above the grid.
  3. Select Net from the Revaluation Method list.
  4. Specify this information:
    Valued
    Specify the date of the revaluation.
    Revalued Amount
    Specify the new current value for the asset.
  5. Specify any other information about the asset's revaluation.
    You can specify a code indicating the reason for the revaluation in the Reason field, and you can also specify a new expected life and a new residual value for the valuation.
    Note: To set the residual value to 0, select the Force Residual Value to 0.00 check box. Because 0.00 is displayed in the New Residual Value field by default, selecting this check box indicates that you intend to set the residual value to 0.00.
  6. Click Save.