KB20200519/03: Sage X3 Tip & Trick – How to revalue an asset that has a zero net book value

Step 1:

Change the PRVSITUPD to “Yes”

• Setup> General parameters> Parameter values AAS> FAS> PRVSITUPD = Yes

Step 2:

Revalue the asset as normal.

Step 3:

Change the depreciation start date by changing the in-service date to the month I want the new depreciation to start calculating from.

Step 4:

Lastly, do a change in method and change the useful live to the new revalued period.

See the example below:

• Purchase date                                    30/06/2011
• Cost price                                            R 130 175.44
• Useful life                                            5 Years
• Accumulated depreciation           R 130 175.44
• Net book value                                  R 0.00

Now in 2019 you revalue the asset:

• Revalued amount                            R 25 000.00
• New useful life                                  3 years
• Month depreciation                        25 000/36months = R694.44

The system calculated the new depreciation correctly that will be written off over 3 years starting 2019.

For further information please email info@sysfinpro.co.za or call us on +27 12 880 0258