Asset revaluation for one time

[Former Member]

We came a requirement where asset need to be revaluate with fair value for one time from 01.04.2015 as on gross block and Depreciation will be charged on new gross block for the year 2015. But the entry should be in year 2016 as we can not touch the balance sheet for 2015 and also the depreciation will be posted in 2016, Sep period in cumulative i.e from 01.04.2015 as effective.

I have gone through various post on scn discussing about revaluation area , but my requirement is to post the difference in year 2016 for sep period with effect as april, 2015.

[former_member184878]

Hello,

I am afraid, your requirement is not possible.

BUT

You can add additional accounts and post manuel adjustments if necessary for reporting purpose.

Post adjustment in 2015 and make reversal in 2016, then close additional accounts for posting.

As an instance:

DE Asset revaluation (P&L account)

CE Asset revaluation (GL account)

Add these accounts in financial statement version.

br erwin

[former_member198650]

Hi Prem,

You can post revaluation entry in current year. But the impact for the asset in display from current year on wards not from 2015.

Regards,

Mukthar

[Former Member]

But the requirement is to get the depreciation effect from april 2015 in current period of 2016 as we cannot made any changes for 2015 that is closed.

[former_member198650]

Once you do revaluation posting, the system will consider the revaluation values while calculating the depreciation, if you maintained correct base method in the multi level method of the dep.key of the asset.

[Former Member]

I did the revaluation posting with pk 50 & 70 on asset, hope its the correct way., and its also calculating the depreciation. But is there any way to calculate the depreciation from 2015.

[former_member198650]

It wont calculate the depreciation from 2015. However, you can calculate the depreciation manually and post it as unplanned depreciation in 2016 by ABAA.

[Former Member]

which TType should we use,640

[former_member198650]

Yes, you can use it.

[Former Member]

But how on deprecation , it will differentiate between the ledger groups between two accounting standards and how depreciation area will be differentiated based on revaluation assets and non revaluation assets.

[former_member198650]

For revaluation assets, the value under revaluation the amount will appear for others it wont appear.