Dear Experts,
The issue is regarding asset revaluation process.
As per my knowledge the accounting entries should be as follows:
Dr Asset
Cr Revaluation reserves
After that when depreciation run is executed, system should post
Dr Depreciation expense account (on original asset cost)
Dr Revaluation reserves (depreciation on reserves amount)
Cr Accumulated depreciation
To get the above in system, i tried to configure but could not get the desired results.
I have created a separate depreciation area 40 for revaluation.
Can anyone guide me the detailed steps to maintain revaluation depreciation area along with the process. I was posting revaluation using ABAW.
I will be very thankful to you.
Regards,
Atif