Asset Revaluation

This guide provides step-by-step instructions on how to revalue assets using the NexWaveERP platform. It is useful for individuals who need to accurately update the value of their assets and generate journal entries for accounting purposes.

Step 1: Navigate to the Asset Homepage

Step 1

Step 2: Click "Asset"

Step 2

Step 3: Open the Asset you wish to Revalue

Step 3

Step 4: Note the transaction options in the Connections areas

Step 4

Step 5: Select the Asset Value Adjustment

Step 5

Step 6: Enter the date of the revaluation

Step 6

Step 7: Click "Edit Full Form" to see the full details

Step 7

Step 8: Enter the New Asset Value

Step 8

Step 9: Click "Save"

Step 9

Step 10: Click "Submit" to process the adjustment

Click "Submit" to process the adjustment. Note the difference Amount

Step 10

Step 11: Click "Yes" to book the record

Step 11

Step 12: Click on the Asset record

Step 12

Step 13: Note the Value Adjustment record is created but also the associated Journal…

Note the Value Adjustment record is created but also the associated Journal has been posted

Step 13

Step 14: Click "Journal Entry" to review the entry

Step 14

Step 15: Open the Journal

Step 15

Step 16: Note the accounting distribution for the Value Adjustment

Step 16