Revaluing asset valuation groups

There are two methods for revaluing assets: net value and gross replacement. Using the net value method, you specify a revalued amount that you have calculated yourself. Using the gross replacement method, you specify a replacement cost for the asset, and Infor Public Sector calculates a revalued amount using the replacement cost and the asset's accumulated depreciation.

  1. In Lookup Asset Valuation Groups, look up the asset valuation groups that you want to revalue.
  2. Select one or more groups in the Asset Valuation Groups grid.
  3. Click Action, and select Run Revaluation.
  4. Select when to process the revaluation under Processing Options.
    Select one of these options:
    Calculate Now
    The revaluation calculation is done for you when you click Save.
    Calculate in Batch Process
    Use this option to schedule the revaluation calculation for a later date. Specify the date for the calculation in the Scheduled Date field. The scheduled revaluation calculation is added to the Batch Manager.
  5. Specify this information:
    Revaluation Method
    Select the method of revaluation for the asset:
    Net
    Assign a new value to each asset as of the revaluation date. The accumulated depreciation as of this date is set to zero.
    Gross
    Specify a replacement cost for each asset, which retroactively replaces the asset’s original acquisition value. Depreciation is recalculated from the acquisition date through the revaluation date to determine the new value for each asset.

    For example, a piece of equipment was acquired on June 16, 2013, at an initial cost of $20,000. This asset uses the straight line depreciation method, with an expected life of 20 years and a residual value of $5,000. As of June 16, 2017, the asset’s accumulated depreciation is $3,000, so its current value is $17,000. (20% of the asset’s expected life has elapsed, so it has lost 20% of the $15,000 in value that it is expected to lose over its entire life.)

    If you specify a replacement cost of $25,000 for a gross method revaluation, the accumulated depreciation is recalculated as if $25,000 was the initial cost on June 16, 2013. The asset is now expected to lose $20,000 in value over its expected life, so its accumulated depreciation as of June 16, 2017 is $4,000, and its value as of that date is $21,000. Note that you can also use a new expected life or residual value in the revaluation formula.

    Valued
    Specify the date through which the revaluation will be calculated.

    For net method revaluations, the Valued date is the date on which the recalculated value takes effect, with accumulated depreciation reset to zero. For gross method revaluations, the Valued date is the date through which depreciation is recalculated, starting from the replacement cost you specified.

    Formula
    Specify the formula used to calculate the revalued amount or the replacement cost for each asset in the group.
    Asset Valuation Books
    Select the books to use for the revaluation. Only the valuations that are associated with the selected books will be revalued.
  6. Click Save.