Sample computation for Asset Revaluation when Revision Rules = Current Period

 Sample computation for Asset Revaluation when Revision Rules = Current Period.

1. Consider the following values of the fixed asset record:

Asset Original Cost = 45,000
Residual Value = 0
Asset Lifetime = 60
Accounting Method = Straight Line
Current Net Book Value = 42,000
Cumulative Depreciation = 3,000
Last Depreciation Amount = 750
Last Depreciation Period = 4
Revision Rules = Current Period

2. Go to Fixed Assets > Transactions > Asset Revaluation.

3. Select the asset record above, and enter 100 as the Write-Down amount.

4. Enter a Transaction Reference and Transaction Date.

5. Click Process Revaluation.

6. Go to the asset record's Depreciation History tab.

Expected Result:
History entry for Write-Down = 100
History entry for Revaluation = -6.68.
Current Net Book Value = 41,906.68 (44,900 - 2,993.32)
Cumulative Depreciation = 2,993.32 (748.33 * 4)
Last Depreciation Amount = 748.33 [(45,000 - 100)/ 60]
Last Depreciation Period = 4