In Russia, a company can revalue its fixed assets once each year, calculated from January 1 of the accounting year. The company may also revalue fixed assets if required by the state. Depreciation of revaluation is generally accompanied by a revaluation of the value of the fixed assets. Cost revaluation and Depreciation revaluation transaction types are created in the ledger for fixed assets as a result of revaluation transactions.

Revaluation changes the value of the fixed assets based on the following processes:

  • Indexing – With the adoption of indexes generally specified by the state. The initial asset cost and the accrued depreciation amount are multiplied by appropriate indexes.

  • Direct recalculation (direct valuation) – According to the documented market price of the fixed asset. In addition, the depreciation amount is subject to indexing for the recalculation factor calculated as the result of the relationship of the new value of the asset to the old value.

You can use the FA revaluationform to register a revaluation of the fixed asset.

  1. Click Fixed assets> Periodic> FA revaluationto open the FA revaluationform.

  2. Press CTRL+N to create a new journal.

  3. In the Revaluation periodfield, view or modify the year and month of revaluation. This field displays the current date by default.

  4. In the state onfield, view or modify the date for depreciation revaluation. This field displays the current date by default.

  5. In the Namefield, select a journal name.

    Note Note

    The Journal numberfield displays the journal number based on the numbering that is set up.

  6. Click Linesto open the Revaluation lines creationform.

  7. In the Accountingfield, select the value model.

    Note Note

    You can click Selectto open the Assetsform, and then select the fixed asset group, number, name, and the procurement date.

  8. Click OKto open the FA revaluation linesform, where you can also add or delete lines. Lines are created for the fixed assets for the selected model.

    Note Note

    For more information, see (RUS) FA revaluation lines (form).

  9. If necessary, press CTRL+N to open the Revaluation lines creationform to add new lines.

  10. In the FA numberfield, select the inventory number of the fixed asset.

  11. In the Value modelfield, select the value model, and then click OK.

    Note Note

    If the value model is not specified, lines are created for all models for which the fixed asset or inventory asset is used.

  12. In the Replacement costfield, enter the cost price for the fixed asset to run a direct valuation.

  13. Click Revaluationto open the Group revaluationform, where you can use coefficient factors to revalue a fixed asset or inventory asset.

  14. In the Accountingfield, select a value model.

  15. In the Ratiofield, enter the revaluation coefficient.

    Note Note

    You can click Selectto open the Assetsform, and then select the fixed assets that the coefficient factor should be applied to.

  16. Click OKto return to the FA revaluation linesform. The Factorfield is updated with the value specified in the Group revaluationform.

  17. Press CTRL+S or close the FA revaluation linesform.

  18. In the FA revaluationform, click Closeto confirm the revaluation results.

  19. Click FA journalto open the Journalform.

  20. On the Overviewtab, select the journal created during revaluation.

  21. Click Linesto view the revaluation transactions.

  22. You can modify the transactions, if necessary, and then click Validate> Validateto validate the journal.

  23. Click Post> Postto post the journal.

  24. Press CTRL+S or close the form.

    Note Note

    Click Fixed assets> Common Forms> Fixed assets> Value models> Balanceto open the FA balancesform, where you can view the updated values in the Cost revaluation, Depreciation Revaluation, and Net book valuefields.

See Also