Viewing / confirming revaluation

This page allows you to view the revaluation run number details and confirm them. Tell me more.

Select the “View / Confirm Revaluation” link at the bottom of the “Run Revaluation” page.

The “View / Confirm Revaluation” page appears.

Enter the following field:

Revaluation Run No.	The number identifying the run number, generated after hard revaluation (Alphanumeric, 20). Mandatory.
	Press <Enter>.
	The system retrieves its relevant details based on the number entered.

Note: The revaluation run number must be in “Processed” status before confirmation.

The system displays the following:

Finance Book	The code identifying the finance book in which the accounting postings are made.
Revaluation Rule No.	The code identifying the revaluation rule defined for generating the revaluation run.
Run Date	The date on which the revaluation run was processed.
Depreciation Book Code	The code identifying the depreciation book.
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”.
Currency	The transaction currency of the asset class.

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

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 revaluation rule has been assigned 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 which the revaluation rule has been assigned are listed. 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.
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.
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).

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

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

Asset No.	The number identifying the assets, which are picked up for processing the soft revaluation.
Tag No.	The code identifying the asset tags.
Original Asset Cost	The original cost of the asset.
Last Revalued Asset Cost	The cost of the asset after the last revaluation.
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.
Gross Revalued Cost	The revalued cost of an asset. The system displays the total of the tag cost and the revaluation amount.
Revalued Depreciation	The revalued cumulative depreciation of an asset.
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.
Revaluation Depreciation Category	The code identifying the depreciation category to which the asset class are mapped.

The system displays the following fields:

Gross Revalued Total Cost	The total of all the gross revalued cost in the multiline.
Revalued Depreciation Total	The total of the revalued depreciation.
Net Revalued Total Cost	The total of net revalued cost in the multiline.

Click the “Confirm Revaluation” pushbutton to confirm the revaluation run.

The system updates the status of the revaluation run number to “Confirmed”.

The system stores the login ID of the user to last modified by and the system date to the last modified date.

Note: Based on the rules set in the “Process Configuration” business component, the user can authorize the revaluation run number.

Click the “Confirm And Authorize” pushbutton to confirm the revaluation run.

Note: The revaluation run must be in “Processed” status before confirming.

The system updates the status of the revaluation run to “Authorized” and posts the accounting entries in the books of accounts.

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)

Debits Loss on Revaluation Account and

Credits Revalued Asset Account

If the revaluation type is “Downward”, not linked to previous upward revaluation.

The system

Debits Loss on Revaluation Account and

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

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

Credits the Revaluation Reserve Account

Click the “Delete” pushbutton to delete the revaluation run number.

Note: The run number must be in “Processed” status and must not be in “Authorized” status.

The system updates the status of the revaluation run number to “Deleted”.

The system stores the login ID of the user to last modified by and the system date to the last modified date.

To proceed, carry out the following

Select the “Accounting Information” link at the bottom of the page to view the accounting information.

Viewing / confirming revaluation – An overview

This page also allows you to authorize or delete the revaluation run number in “Processed” or in “Confirmed” status. On specifying the number identifying the revaluation run, the system retrieves its details like the code identifying the finance book, the rule number to which the run number is associated and its currency, the run date, depreciation book code and the revaluation option. You can specify the condition and retrieve the assets belonging to the revaluation run. The system retrieves the asset information like the asset and the tag number, the book value of an asset and the net value of an asset.

The system updates the status of the revaluation run number to “Confirmed” on confirmation and “Authorized” on authorization. The status of the run number is updated to “Deleted” on deletion. The system stores the login ID of the user to the last modified by and the system date to the last modified date.