Running soft revaluation

This page allows you to run soft revaluation for an asset. No entries will be posted in the books of accounts on soft run. Tell me more.

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

The “Run Soft Revaluation” page appears.

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

Soft Revaluation Run No.	The unique number identifying the soft revaluation run. The number is automatically generated at the time of running the soft revaluation.
Status	The statuses of the soft revaluation run number. The various statuses available are
	In Process – Indicates that the soft revaluation run is in process. The soft revaluation can be processed in this activity or in “Set Asset Revaluation Rule” activity of this business component.
	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 revaluation run number is deleted in the “Run Revaluation” activity of this business component.
	Confirmed – Indicates that the revaluation run number is confirmed and are yet to be authorized. The revaluation run number is confirmed in the “Run Revaluation” activity of this business component.
	Authorized – Indicates that the accounting entries are posted in the books of accounts after authorization. The revaluation run number is authorized in the “Run Revaluation” activity of this business component. The revaluation number once authorized cannot be deleted. Revaluation Run No. can also be authorized in the Authorize Revaluation Activity of this business component. this happens only when the Soft Revaluation Run No. is picked up for hard revaluation.
	Reversed – The Run which has already been authorized can be reversed here. On reversal, entries will be passed in the books of accounts. This happens only when the Soft Revaluation Run No. is picked up for hard revaluation and has been authorized.

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 “ASRR” transaction type. The numbering types must have already been defined in the “Create Numbering Class” activity of the “Document 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 “Document Numbering Class” business component.
Revaluation Rule No.	The unique number identifying the revaluation rule (Alphanumeric, 20). Mandatory. You can also seek the help provided if you are not aware of it.
	Help facility available.
	Press <Enter> key. The system retrieves the depreciation book code, revaluation option and the currency.
Insurance Valuation Rule No.	The number identifying the insurance valuation rule (Alphanumeric, 20). This number is generated in the “Set Insurance Valuation Rule” activity of the “Asset Insurance” business component.
	Help facility available.

Note: Either “Revaluation Rule No.” or the “Insurance Valuation Rule No.” is mandatory.

Default Depreciation Category

Use the drop-down list box to select the code identifying the depreciation category. The depreciation category must have been defined in the “Create Depreciation Setup” activity of the “Asset Depreciation Setup” business component.

Note: The depreciation method for the depreciation category and the Default Depreciation Category must be the same.

The system displays the following fields:

Depreciation Book Code	The code identifying the depreciation book in which the asset depreciation entries are posted.
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 currency of the asset which is 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 converted and available in Parallel Base Currency also.

Enter the following fields in the “Asset Selection” group box to retrieve the asset for the soft 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 belonging to the asset class can be picked up for soft revaluation run. 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 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.

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 Details” 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 the last revaluation.
Asset Book Value	The cost of the asset after netting off 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 10,000 would revalue the asset.
Revalue Asset Cost To	The fixed amount to which the assets are to be revalued (Decimal). The cost specified must be greater than zero. 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.
	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” pushbutton to run the soft revaluation for the asset.

Note: Atleast one row in the multiline must be marked for the revaluation run.

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

The system updates the status of the run number to “In Process”.

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

The system computes and displays the revaluation total.

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

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

The system updates the status of the run number to “In Process”.

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

The system computes and displays the revaluation total.

Click the “Update Insurance” pushbutton to update the insurance details.

Note: The revaluation number must be in “Processed” status for updating the insurance details.

The insurance valuation rule number must be entered.

The system updates the insurable value (original asset cost / revalued cost + revaluation amount, if the revaluation type is “Upward”).

The system updates the insurable value (original asset cost / revalued cost - revaluation amount, if the revaluation type is “Downward”).

To proceed, carry out the following

Click the “View Soft Revaluation” link at the bottom of the page to view the revaluation details of the revaluation run number.
Click the “View Revaluation Rules” link at the bottom of the page to view the revaluation rule.
Click the “View Run Status” link at the bottom of the page to view the revaluation run status.
Click the "Attach Notes" link at the bottom of the page for attaching notes.

Running soft revaluation – An overview

This page also allows you to run the revaluation for the assets in batches. You can also update the insurance details, moment the processing is complete. You can select the code identifying the revaluation rule number or the insurance valuation number for soft revaluation. You can retrieve the assets details by carrying out the search using the code identifying the asset class, the depreciation category, the number identifying the asset and the asset tags and the code identifying the cost center. The system retrieves the asset details based on the search criteria. You can enter the amount by which the assets are to be revalued or the fixed amount till which the assets can be revalued.

The system computes the revaluation total. The system generates a unique soft revaluation run number based on the numbering type selected. The system updates the status of the run number to “In Process”. The system updates the login ID of the user to the created by and the system date to the created date.