Asset Revaluation

John Sloggie's Avatar

John Sloggie

16 Jun, 2017 02:24 PM

Hello - I have a property in the asset category that has recently been revalued. Can you tell me how to account for the revaluation in order to show the current valuation for the asset?

  1. Support Staff 1 Posted by Henry on 19 Jun, 2017 12:58 PM

    Henry's Avatar

    Hi John,

    Thank you for contacting us and I apologise for the delay.
    May I ask how is your Asset setup?

    In the case of an Asset Account you have two options:

    You can enter income and expense transactions in the asset account. This will result in changes in the balance of the category.

    Or

    You can change the "Initial balance" of the asset account. To do this go into the asset account and select from the menu bar Account->Edit Account... there you can modify the initial balance.

    Henry
    Infinite Kind Support

  2. 2 Posted by John Sloggie on 20 Jun, 2017 06:01 PM

    John Sloggie's Avatar

    THat’s great Henry thankyou.
    regards
    John

  3. Support Staff 3 Posted by Henry on 20 Jun, 2017 06:19 PM

    Henry's Avatar

    No problem! I'll close this discussion for now, but don't hesitate to get back in touch if you have further questions or need any assistance.

    Have a great day!

    Henry
    Infinite Kind Support

  4. Henry closed this discussion on 20 Jun, 2017 06:19 PM.

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