Revaluation For Asset Without Changing Asset Cost
Hi, I need your help
In Colombia the asset's revaluation based on local regulations stablish that the revaluation amount is recorded in an specific journal entry (asset account - ownership account) but the revaluation amount isn't added to asset cost, when retirement the asset also must be retirement the revaluation amount recorded in the asset account - ownership account.
In Oracle Asset when we use revaluation funcionality, the revaluation amount is added to asset cost,
What would be the proper way to set up the book or the category under Colombian regulations?
Thanks for your help.
Gisselle