Calculate Fixed Asset Value
This function is used when revaluing Fixed Assets or Small Tools due to changes such as upgrades or impairments. The Calculation function simplifies the process of adjusting the value of the assets. It is applicable in the following scenarios:
1. Revaluation of Fixed Assets
Revaluation of Fixed Assets is used to calculate increased or decreased acquisition value and value adjustments for the Entry Types 3 to 5 in the Value tab. These adjustments are based on value estimates and allow consistent Depreciation Calculation by applying the standard depreciation rate across both acquisition and revaluation values.
2. Reversal of Revaluation
Reversal of Revaluation is used for calculating the reversal of previously posted revaluations for the Entry Types 7 and 8 in the Value tab. This ensures accurate calculation of disposal or upward and downward revaluation.
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Warning
Before applying depreciation to revalued values, calculate both the acquisition value and value adjustment based on the estimate, to maintain correct and consistent Depreciation Calculations.
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The Calculate Fixed Assets Value form can be accessed by right clicking within the Value tab in the Fixed assets and Small Tools and choosing the option Calculate.
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Hint
Examples of how to use the Calculate Fixed Assets Value form are described on the corresponding pages of the User Manual.
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The inventory number which is a unique identifier assigned to each asset for tracking and management purposes. It helps distinguish one asset from another.
| Number |
The Number identifies the specific asset being revalued. It matches the Invent. No. displayed in the Header section of the Fixed Assets or Small Tools register. It ensures accurate application of revaluation entries to the correct asset. |
The Current Values section displays the asset's current financial details as recorded in the Value tab of the asset’s register. These values are populated automatically.
| Cost |
Represents the asset’s current acquisition value. This is the original purchase price or the amount paid to acquire the asset. |
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Accumulated Deprec.
(Accumulated Depreciation)
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The total amount of depreciation that has been recorded for the asset from the time it was acquired up to the current date. This value reflects how much of the asset's cost has been expensed over its useful life due to wear and tear, obsolescence, or aging. |
| nDifference |
Net book value, also known as carrying value represents the asset’s current value as recorded in the books. It is calculated by subtracting Accumulated Depreciation from the Cost. This value indicates the portion of the asset's cost that has not yet been depreciated and remains capitalized. |
In the New Values section, updated financial data for the assets can be entered. These values will be recorded as a new status line in the asset’s register in the Value tab. The fields are interdependent - when one value is entered, the system automatically calculates the remaining two.
| Cost |
The revised acquisition value of the asset. This includes any adjustments made after the initial purchase, such as capital improvements or revaluations, reflecting the most up-to-date valuation for accounting purposes. |
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Accumulated Deprec.
(Accumulated Depreciation)
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The updated total depreciation amount applied to the asset. |
| nDifference |
The recalculated carrying value (net book value). It is determined by subtracting Accumulated Depreciation from the Cost. |
These buttons are used to save new values to the asset register and optionally post them to the general ledger.
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(OK Button)
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Clicking the (OK) button saves the entered or calculated values as a new line in the Value tab of the asset register without posting them to the general ledger. It is intended for cases where values need to be saved but not yet reflected in accounting reports. |
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(Confirm/Post Button)
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Clicking the (Confirm/Post) button performs two actions simultaneously:
- Saves the new values as a new line in the Value tab;
- Posts the values directly to the General Ledger. This is functionally equivalent to using the Post this Line from Value tab option from the right-click menu.
Clicking this button, opens the Posting of Fixed Assets form, where posting details can be entered. |