Manual asset revaluation
Dear community,
We have thousands of assets that were revalued, and the new values have to be reflected in the corporate book. The problem is that the assets were revalued to arbitrary cost, accumulated depreciation and remaining life values without using a common revaluation rate. Here is an example:
Asset A | Asset B | |||
Current value | Revalued value | Current value | Revalued value | |
Cost | 2433.11 | 1 706 | 2945.34 | 2 065 |
Accumulated depr. | 1 655 | 2 003 | ||
NBV | 0 | 51 | 0 | 62 |
Remaining life | 0 | 60 | 0 | 42 |
Reval. Reserve | 0 | 51 | 0 | 62 |
The values and the rate differ for each asset. Change in asset value has to be recorded in Revaluation Reserve.
We cannot use Mass Revaluations process because it only allows to revalue cost and accumulated depr. using the same rate.