Re-value of Assets

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Posted on by Jay Hari

Hello,

My client is using the FIXED ASSETS module. There is a need to re-value some of the assets. This is pretty much where the life of these assets need to be extended.

This is for assets in the IFRS BOOK.

What is the best way to do this?

Regards,

Jay

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Jay Hari on at

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Re: Re-value of Assets

Hello,

Thanks for the reply. some of the assets have already been fully depreciated and some still have some life remaining.

If the life is re-set which is what I did, is there anything in particular that I need to consider?

I am talking about the PLACE IN SERVICE DATE, etc.

Regards,

Jay
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Re: Re-value of Assets

You can modify both Cost Basis and Original Life, if this was your first depreciation for the asset, you can reset life of the asset, otherwise you will either need to select "YTD" or "Recalculate" options.