Adjusting the value of an asset using Revalue option

This support note applies to:

AE Assets (AU)

Article ID: 28879

In MYOB Accountants Enterprise Assets (AE Assets) to adjust the value of an asset this is done through the Revalue option.

To successfully revalue a sub asset you need to ensure focus is on the control asset when you click the Revalue button and then complete the revalue details for each applicable sub asset.

If you select a sub-asset and then click revalue you will experience the error "Only normal and control assets can be revalued".

To revalue a sub asset

Open the AE Assets ledger and highlight the required asset control group in the left hand pane. The assets including control assets contained in this group appear in the right hand pane.
Highlight the control asset which contains the sub asset to be revalued and click Revalue. The Revalue screen appears with the cursor in the Starting journal Number field.

Each sub asset of the selected control asset appears in the Table at the bottom of this screen.
Type a journal number and press Tab or click in the New Control Group field. The cursor appears in the New Control Group field.
Type or select a new control group for the revalued asset if applicable and press Tab or click in the Date of Revaluation field. The cursor appears in the Date of Revaluation field.
Type or select a date to apply the revaluation from then press Tab or click in the Reserve Account field. The cursor appears in the Reserve Account field.
Type or select an account code from the integrated ledger for posting to the Asset Revaluation Reserve account. The integration account is entered.
Click in the Revalue Amount column for the required sub asset and type the new value. The new value is entered.

Repeat step 7 for all sub assets of the selected control asset requiring revaluation.
Click OK. The revaluation occurs and the main Assets screen appears.