Running revaluation

This page allows you to run the revaluation. The accounting entries will be posted in the finance book on hard revaluing the asset. Tell me more.

Select the “Run Revaluation” link under the “Asset Revaluation” business component.

The “Run Revaluation” page appears.

The system displays the following in the “Revaluation Information” group box:

Revaluation Run No.	The unique number identifying the revaluation run. The number is automatically generated at the time of running the revaluation.
Status	The statuses of the revaluation run number. The various statuses available are
	In Processed – Indicates that the revaluation run is in process.
	Processed – Indicates that the revaluation run is completed. Only the revaluation run in “Processed” status can be confirmed and authorized.
	Deleted – Indicates that the revaluation run number is deleted before authorization. The run number in “Confirmed” or in “Processed” status can be deleted. The revaluation run number is deleted on clicking the “Delete” pushbutton in “View / Confirm Revaluation” page.
	Confirmed – Indicates that the revaluation run number is confirmed and are yet to be authorized. The revaluation run number is confirmed on clicking the “Confirm Revaluation” pushbutton in “View / Confirm Revaluation” page.
	Authorized – Indicates that the accounting entries are posted in the books of accounts after authorization. The revaluation run number is authorized on clicking the “Confirm And Authorize” pushbutton in “View / Confirm Revaluation” page. The revaluation number once authorized cannot be deleted. The revaluation run number can also be authorized in the Authorize Revaluation Activity of this business component.
	Reversed - the run which has already been authorized can be reversed here. On reversal, entries will be passed in the books of accounts.

Enter the following fields:

Run Date	The date on which the assets must be revalued (Date Format). Mandatory. The date must be less than or equal to the system date. The run date must be greater than the in-service date of an asset. The date must fall within the open financial year.
Finance Book	Use the drop-down list box to select the code identifying the finance book in which the accounting entries are to be posted. The finance book must have been defined in the “Create Finance Book” activity of the “Organization Set Up” business component. The system lists the finance book in the ascending order and the displays the first finance book by default on launch of the page.
Numbering Type	Use the drop-down list box to select the numbering type for the login organization unit and the “Asset Soft Revaluation Run” transaction type. The numbering types must have already been defined in the “Create Numbering Class” activity of the “Numbering Class” business component and must be in “Active” status as on the Transaction date. The system displays the numbering type set as default for the transaction in the “Numbering Class” business component.
Run Basis	Use the drop-down list box to select the basis on which the revaluation has to be processed. You can select from "Soft Revaluation Run" or "Revaluation Rule".
	The system displays the “Soft Revaluation Run” by default on launch of the page.

The system displays the following:

Currency

The transaction currency of the asset. The system retrieves the base currency of the company.

Note: If Parallel Base Currency has also been defined for the Company, and the Currency Flag has been set to Yes, the amounts will be calculated in Parallel base Currency and saved along with the Base Currency.

Enter the following fields:

Posting Cost Center	The cost center to which the account details are mapped (Alphanumeric, 10). The cost center must have been defined in the “Create Cost Center / Unit” activity of the “Cost Setup” business component.
Soft Revaluation Run No.	The number identifying the soft revaluation run (Alphanumeric, 20). This field is mandatory if the “Run Basis” selected is “Soft Revaluation Run”.
	Help facility available.
Revaluation Rule No.	The number identifying the revaluation rule (Alphanumeric, 20). This field is mandatory if the “Run Basis” selected is “Revaluation Rule”.
	Help facility available.
Default Depreciation Category	Use the drop-down list box to select the code identifying the depreciation category. The system lists all the depreciation categories defined in the “Create Depreciation Setup” activity of the “Asset Depreciation Setup” business component. The system leaves the field blank by default on launch of the page.

Note: By specifying the default depreciation category, you can avoid a wrong entry in the multiline.

The system displays the following fields:

Revaluation Option	The revaluation option that has been set in the “Set Revaluation Rule” activity for the asset class which could be “Indexes”, “Percentage”, “By Amount” and “To Amount”.
Depreciation Book Code	The code identifying the depreciation book in which the asset depreciation entries are to be posted.

Enter the following fields in the “Asset Selection” group box to retrieve the asset for the revaluation run.

Asset Class Code	Use the drop-down list box to select the code identifying the class to which the assets belongs. All the assets for which the soft revaluation run has been processed are listed. The asset class must have been defined in the “Create Asset Class” activity of the “Asset Type Definition” business component. The system displays the first asset class in the list by default on launch of the page.
Depreciation Category	Use the drop-down list box to select the code identifying the depreciation category. The system lists the depreciation category for the asset class selected. The depreciation category must have been defined in the “Create Depreciation Setup” activity of the “Asset Depreciation Setup” business component. The system displays the first depreciation category by default on launch of the page.
Asset No.	The code identifying the asset whose details are to be retrieved for soft revaluation (Alphanumeric, 18). The assets must have been defined in the “Create Simple Asset” activity of “Asset Capitalization” business component.

Note: The assets must not be in the “Transferred” or in “Retired” status.

Tag No.	The code identifying the asset tag whose respective asset details are to be retrieved for soft revaluation (Alphanumeric, 18).
Cost Center	The cost center to which the account details are mapped (Alphanumeric, 10). The cost center must have been defined in the “Create Cost Center / Unit” activity of the “Cost Setup” business component.
	Help facility available.

Note: If the “Posting Cost Center” is entered, then the “Cost Center” is mandatory.

Click the “Get” pushbutton to retrieve the asset details.

The system displays the following fields in the “View Statistics” group box:

Assets Selected	The total number of assets selected for revaluation run.
Tags Selected	The total number of asset tags selected for revaluation run.
Records Selected	The total number of records selected for revaluation run.

The system displays the following fields in the “Asset Information” multiline:

Asset No.	The number identifying the asset.
Tag No.	The number identifying the asset tag.
Original Asset Cost	The original cost of an asset.
Last Revalued Asset Cost	The cost of the asset after revaluation.
Asset Book Value	The cost of the asset after calculating the depreciation.

Enter the following fields:

Revalue Asset Cost By	The fixed amount by which the assets can be revalued (Decimal). The cost specified must be greater than zero. If the cost by specified is 10,000, then the asset is to be revalued by 10,000.
Revalue Asset Cost To	The fixed amount till which the assets can be revalued (Decimal). The cost specified must be greater than zero. The revalued cost of an asset must not exceed the amount specified here. If the amount specified is 1,50,000 and the cost of the asset is 1,00,000, then the cost of the asset after revaluation would be 1,50,000.

Note: Either the “Revalue Asset Cost By” or the “Revalue Asset Cost To” is mandatory.

If the “Revalue Asset Cost By” is specified, then the “Revaluation Option” for the rule must be “By Amount”. If the “Revalue Asset Cost To” is specified, then the “Revaluation Option” for the rule must be “To Amount”.

The “Revalue Asset Cost To” must be greater than the asset book value if the “Revaluation Type” is “Upward”.

The “Revalue Asset Cost By” must be less than the asset book value if the “Revaluation Type” is “Downward”.

Revaluation Depreciation Category	The code identifying the depreciation category (Alphanumeric, xx). The depreciation category must have been defined in the “Create Depreciation Setup” activity of the “Asset Depreciation Setup” business component. The category specified here must be the default depreciation category specified in the header.
	Help facility available.

Note: The revaluation depreciation category must be the same as the “Default Depreciation Category” if specified in the “Revaluation Information” group box.

The system displays the following fields:

Asset Desc.	The textual description pertaining to the asset.
Tag Desc.	The textual description pertaining to the asset tags.

Check the box in the “Select” column of the multiline to mark the asset details.

Note: If the asset cost by is 10,000, then the revaluation amount for the asset is 10,000.

If the asset cost to, specified is 15,000 and the asset book value 10,000, then the revaluation amount is 5000 (15000-10000).

Click the “Compute Revaluation Total” pushbutton to compute the revaluation total of the selected asset.

The system displays the aggregate of the revalued amount for each asset in the multiline and displays in the “Revaluation Total” field.

Click the “Run Revaluation” pushbutton to run the hard revaluation.

The system generates a unique revaluation run number based on the numbering pattern selected.

The system updates the status of the run number to “In Process”. Once the run has been completed, the status becomes “Processed”.

The system updates the login ID of the user to the created by and the system date to the created date.

The system displays the aggregate of the revalued amount for each asset in the multiline and displays in the “Revaluation Total” field.

Note: If the number of records selected in the multiline exceeds the batch size, then the revaluation must be run in batches.

Click the “Batch Run” pushbutton to run the revaluation in batches.

The system updates the status of the run number to “In Process”. Once the run has been completed, the status becomes “Processed”.

The system updates the login ID of the user to the created by and the system date to the created date.

Execute the Revaluation Run on execution of the System Activity through scheduler.

To proceed, carry out the following

Select the “View / Confirm Revaluation” link at the bottom of the page to confirm the revaluation.
Select the “View Run Status” link at the bottom of the page to view the run status of the asset.
Select the “View Revaluation Rules” link at the bottom of the page to view the revaluation rules.
Click the "Attach Notes" link at the bottom of the page for attaching notes.

Running revaluation – An overview

You can specify the date on which the hard revaluation run has to be processed, the code identifying the finance book and the numbering type based on which the revaluation run number will be generated. You can run the revaluation based on the soft revaluation run or the revaluation rule number. This page allows you to specify a default depreciation category to keep a check while entering the category for each asset in the multiline.

This page allows you to retrieve the assets by specifying the asset class code, depreciation category, the number identifying the asset or the asset tag and the code identifying the cost center. The system retrieves the asset information based on the search condition. You can specify the fixed cost by which the assets can be revalued or the cost till which the assets can be revalued based on the revaluation option.

The system computes the revaluation total. If the assets selected exceeded some batch total, then the revaluation must be processed in batches. The system generates a unique revaluation run number on processing and updates the status to “In Process”. The system stores the login ID of the user to the created by and the system date to the created date.

What you can do in this page

Run revaluation on run basis

Specify default category

Run revaluation on run basis

You can run the hard revaluation based on the run basis.

Set “Run Basis” field to “Soft Revaluation Run” to run revaluation based on the soft revaluation run number.
Set “Run Basis” field to “Revaluation Rule” to run the revaluation based on the revaluation rule number.

Specify default category

You can specify a default depreciation category for it defaulted for each asset in the multiline.

Specify the depreciation category in the “Default Depreciation Category” field.