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This page allows you to authorize the revaluation run number in “Confirmed” status. You can also return the revaluation run in the “Processed” status. The system displays the revaluation run number details and the asset information pertaining to the revaluation run.
The system updates the status of the revaluation run number to “Authorized” on authorization and “Returned” on returning. The system stores the login ID of the user to the last modified by and the system date to the last modified date.
Select the “Authorize Revaluation” link available in the “Select Revaluation Run” page.
The “Authorize Revaluation” page appears.
The system displays the following:
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Revaluation Run No. |
The code identifying the revaluation run. |
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Finance book |
The code identifying the finance book in which the accounting entries are to be posted. |
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Revaluation Rule No. |
The number identifying the revaluation rule for which the revaluation was processed. |
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Run Date |
The date on which the revaluation was processed. |
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Depreciation Book Code |
The code identifying the depreciation book for which the accounting entries are to be posted. |
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Revaluation Option |
The modes with which the assets can be revalued which could be “Indexes”, “Percentage”, “By Amount” and “To Amount”. |
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Currency |
The transaction currency of the asset. |
The system displays the following in the multiline:
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Asset No. |
The number identifying the assets. |
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Tag No. |
The code identifying the asset tags. |
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Original Asset Cost |
The original cost of the asset. |
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Last Revalued Asset Cost |
The cost of the asset after the last revaluation. |
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Asset Book Value |
The cost of the asset after charging the depreciation. The system displays the difference between the asset cost and the cumulative depreciation. |
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Gross Revalued Cost |
The revalued cost of an asset. The system displays the total of the tag cost and the revaluation amount. |
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Revalued Depreciation |
The revalued cumulative depreciation of an asset. |
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Net Revalued Cost |
The system displays the difference between the gross revaluation cost and the revalued cumulative depreciation or the cumulative depreciation, if it is not been revalued. |
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Revaluation Depreciation Category |
The code identifying the depreciation category to which the asset class are mapped. |
The system displays the following:
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Gross Revalued Total Cost |
The total of all the gross revalued cost in the multiline. |
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Revalued Depreciation Total |
The total of the revalued depreciation. |
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Net Revalued Total Cost |
The total of net revalued cost in the multiline. |
Click the “Authorize” pushbutton to authorize the revaluation run number.
Note: Based on the rules set in the “Process Configuration” business component, the user can authorize the revaluation run number.
The system updates the status of the run number to “Authorized”.
The system stores the login ID of the user to last modified by and the system date to the last modified date.
Postings
If the revaluation type is “Downward” and has been linked to previous upward revaluation.
The system retrieves the opening and the closing balance along with their identifier for the account code retrieved from the “Finance Book Processing” business component. The identifier of the closing balance of the account must be the credit balance. (In Revaluation Reserve Account)
There is a decrease in the Net Book Value of asset on revaluation.
The system debits the Revaluation Reserve Account (to the extent of previous increase)
The system debits Loss on Revaluation Account and
The system credits Revalued Asset Account
If the revaluation type is “Downward”, not linked to previous upward revaluation.
The system debits Loss on Revaluation Account and
The system credits Revalued Asset Account (to the extent of revaluation amount).
If the revaluation type is “Upward” and has been linked to previous downward revaluation.
The system retrieves the account code of usage “Loss on Revaluation”.
The system debits the Revalued Asset Account and
The system credits the Loss on Revaluation Account.
If the revaluation Type is “Upward” and has not been linked to previous downward revaluation.
The system debits Revalued Asset Account
The system credits the Revaluation Reserve Account
Click the “Return” pushbutton to return the revaluation run before authorization.
Note: The revaluation run in “Processed” status can be returned
The system updates the status of the revaluation run to “Returned”.
The system updates the login ID of the user to the last modified by and the system date to the last modified date.
To proceed, carry out the following
Select the “Run Revaluation” link at the bottom of the page to run the hard revaluation before authorization.
Select the “Accounting Information” link at the bottom of the page to view the accounting information.
Click the "Attach Notes" link at the bottom of the page for attaching notes.
