Revaluing an asset

You can use the Asset Valuation InfoViewer to revalue a single asset.

If the Remaining Useful Life Adjustments feature toggle is enabled, you can also adjust an asset's remaining useful life when you revalue it.

  1. Load the asset valuation into the Asset Valuation InfoViewer.
  2. On the Revaluations tab, click Add above the grid.
  3. Select Net or Gross from the Revaluation Method list.
    • With the Net method, you specify a new asset value that you've calculated yourself.
    • With the Gross method, you specify a replacement cost, which retroactively replaces the original acquisition value. Past depreciation is then recalculated based on the replacement cost.

    See Revaluation.

  4. Specify this information:
    Valued
    Specify the date of the revaluation.
    Replacement Cost
    If you selected Gross as the valuation method, specify the replacement cost of the asset.
    Revalued Amount
    If you selected Net as the valuation method, specify the new current value for the asset.
  5. Specify any other information about the 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.