Revaluation of Accounts ?

[v3at307]

Q1 : What is Revaluation, Why it is used ?
Q2 : When running Revaluation, confirm whether it is possible to use separate Revaluation Reserve accounts based on the accounts being revalued. For example, Revaluation for account 10201 should use the reserve account 10202 and Revaluation of account 20121 should use the account 20102 and Accounts 18526/18527 should use the account 20112.

I am new to the revaluation processes, will appriciate brief answer to Q2 with explaination.

Thanks,

[oteixeira]

Hello.
Some governments, when inflation is very high in their countries, allow companies to revalue their assets by applying a rate both to cost and reserve.
When revaluation is applied a revaluation reserve is created, represented by the difference between the increase on the asset?s cost and the increase of the reserve.
The accounts used are the ones defined in the Asset Categories.

Oct

[v3at307]

Hi Oct

[oteixeira]

Hello.

We are talking about different things. The Revaluation you mention has to do with a process that revalues the functional currency equivalent balances for the accounts and currencies you select, using the appropriate current market rate for each currency.
I have no experience in this area. Nevertheless, you mention payment entries. As far as i concern once a payment has been made there is no way of revalue it, but, as i said, i have no experience in tis area. Sorry for not being able to help you further.

Octavio

[v3at307]

Any one can be of help!!

[admin]

Use search option from the top menu and just search for Revaluation. thanks