Asset Value Adjustment
If the value of an Asset changed suddenly due to any damages, it can be recorded using Asset Value Adjustment.
When it comes to fixed asset management, an asset's value may occasionally need to be adjusted. For instance, if a laptop is destroyed for whatever reason, its value will immediately decrease. In that instance, the asset's value needs to be revised.
Visit this link to access the Asset Value Adjustment:
Home > Assets > Maintenance > Asset Value Adjustment
1. Prerequisites
It is suggested to first create the following before developing and utilizing Asset Value Adjustment:
- Asset
- Enable 'Calculate Depreciation' in the Asset form
2. How to create an Asset Value Adjustment
- Click on New in the Asset Value Adjustment list.
- Choose the asset whose value needs to be changed.
- Choose a date.
- Type in the asset's new and current values.
- Publish and save.
When you save, the system will record a "Gain/Loss on asset revaluation" and change the asset's valuation. You can add a financial book and alter the cost center.
A journal entry is made under the "Accumulated Depreciations" account upon submission.