This function allows the user to revaluate an existing asset into Oracle Assets.
Use the ‘Revaluations’ template for this function.
Revaluations are not processed for: Fully Retired Assets, Assets with pending Retirements, and Group Assets.
Revaluations Form
Required Fields
The form will default a value for the ‘Transaction Date’ once the book is populated, but only if the transaction date has not been populated on the spreadsheet. The default values can be changed and will be validated as you exit the field.
Reval %- This can be entered as either a negative or positive percentage.
Override Defaults– The API upload will default this field to ‘No’. Setting this to ‘Yes’ causes the Revaluation information to override the Book Controls. Setting it to 'No' will not override the Book Controls. Oracle allows manual override to the Book Control settings in the Revaluation form. The override rules function has the same effect.
Revalue Fully Reserved- The API upload will default this field to ‘Yes’ and allows you to revalue fully reserved assets.
Maximum Revaluations– Enter the maximum number of times an asset in this book can be revalued as fully reserved. If you leave this field blank, Oracle Assets does not limit the number of times you can revalue an asset as fully reserve.
Life Extension Factor- This is required for fully reserved assets to extend the asset life. Oracle Assets multiplies the original asset life by the factor.
Life Extension Ceiling- This field limits the amount of depreciation you can back out when you revalue fully reserved assets. If greater than the factor, Oracle Assets uses the ceiling to determine the new accumulated depreciation adjustment.
Save Changes
To save your changes, click the ‘Ok’ button. The ‘Ok’ button will save the changes and close the form. To clear your changes, click the ‘Cancel’ button.
Upload Transactions
Once your revaluations are entered you can upload the transactions to Oracle Assets using the instructions in theUpload Transactionssection.
