Revaluations

Use this form to revalue an asset for accounting purposes. Using this form does not affect taxation values if you are maintaining two separate values. You can revalue an asset to more or less than its current book value.

Options Reference

Each option and field on the form is described below. Mandatory options and fields are highlighted in red.

Reference

Enter a unique reference, up to 20 characters, to represent the transaction.

Date

This is the transaction document date. It defaults to today's date but you can change it.

Current Period End

This is provided for information only and does not necessarily reflect the period that this transaction is being posted to.

Asset

Select the asset being revalued. You can enter a code/subcode by using a forward slash (/) as a separator. You can also use the asset description to select the asset.

New Value/Current Book Value

Enter the new book value. This can be more than or less than the current book value of the asset, which displays in read-only format next to this field.

Notes

This is for reference only. You can enter notes about the revaluation.

Narration

This is for reference only. You can enter a narration to add more detail about the revaluation.

Balances

This field is populated once an asset is selected and shows key balances and dates for the asset. When entering new transactions the balances will be the closing balances (including futures) regardless of the transaction date entered. The date of the last transaction also displays.

If recalling an existing transaction, the balances displays as they were at the date of the transaction to show the balances that the transaction was calculated against.

Click the Save icon or press F2 to save and create the revaluation transaction.

Note: If you have not yet calculated depreciation for the period in which you revalue the asset, Greentree Desktop calculates depreciation based on the new book value. If depreciation has already been calculated, the asset are not depreciated using the new value until the next period.

You can view revaluation transactions for each asset using the Transactions tab on the Asset Maintenance form. You can view the original transaction by accessing this form and selecting the transaction reference. You can edit or delete a transaction as long as the period the transaction was entered in is still the current period, otherwise the transaction is read-only and you cannot change it.