NetAsset - Multi-Book Revaluations

Overview

NetAsset revaluations can be targeted to the main accounting book, to a single alternate depreciation schedule, or to all posting books at once.

This article describes how to scope a revaluation to one or more accounting books, what is produced when all books are revalued in a single action, and which alternate schedules are eligible for revaluation.

Key Terminology

NetAsset does not maintain a separate record for a secondary book. What is commonly described as a "secondary book" is an alternate depreciation schedule on the asset record, which may or may not be assigned an accounting book. Whether an accounting book is assigned determines whether the schedule can be revalued.

Prerequisites

• Multi-Book is enabled in NetAsset. When this setting is disabled, the schedule selection field is hidden on the Revaluation Proposal record, the Asset Revaluation page, and the Build Up page.
• The asset has at least one accounting book assigned — on the asset itself, or on at least one alternate schedule. This is required for the schedule selection field to appear on the Asset Revaluation Suitelet page. The Build Up page and the Revaluation Proposal record display the field whenever Multi-Book is enabled, regardless of how the asset is configured.

Step-by-Step Process

Select the Depreciation Schedule

1. Navigate to the asset record and click Revalue in the record header to open the Asset Revaluation Suitelet page. Alternatively, create the proposal directly by navigating to NetAsset > View Asset Registers > Revaluation Register > New. View full size
2. Select the applicable Revaluation Type.
3. Select the target schedule. The field label differs by location:

View full size

4. Select one of the following:

5. If applicable, set the Effective Revaluation Date and complete the remaining fields for the selected revaluation type.

Process the Revaluation

Process the proposal as normal for the selected revaluation type.

When - All - is selected, NetAsset does not create a single revaluation record that spans every book. Instead, it:

1. Processes the main accounting book against the original proposal, which retains the - All - selection.
2. For each alternate schedule with an accounting book assigned, re-reads that book's own balances and creates a separate Revaluation Proposal record stamped with that specific schedule.

An asset with a main book and two posting alternate schedules therefore produces three Revaluation Proposal records from a single - All - action. This is expected behavior.

Because each book is recalculated from its own balances, a fixed-amount write-up or write-down is applied at that amount to each book. Amounts are not allocated or converted across books.

Confirm the Results

After processing, verify all three of the following:

If a book is missing, confirm that each intended schedule has an accounting book assigned and that the effective period is open and unprocessed on that book.

CSV Import

Revaluation Proposals can be created in bulk by CSV import. For the full import process, refer to NetAsset - Mass Asset Revaluation.

One field is specific to multi-book revaluations. The Schedule field determines which book is revalued.

Enter the value exactly as it appears in the Schedule list. Renaming an alternate schedule on the asset record does not change the value the import expects:

General Ledger Impact

The journals a revaluation produces depend on a single field: the Accounting Book field on the asset record. Check that field before interpreting the resulting entries.

View full size When Accounting Book is populated, each book receives its own book-specific entry:

No reversal entries are created, because no entry posts outside its own book.

When Accounting Book is blank, the main entry posts to every book and is then backed out of each secondary book:

The MB REV - entries are generated from the asset's configured alternate books rather than from the revaluation's scope, so a - Main - revaluation still neutralizes itself in every configured secondary book. Manual offsetting entries should not be created.

For additional detail, refer to NetAsset - Full Multi-Book Combinations and Implications and NetAsset - Multi-Book Revaluation Reversals.

Considerations

• Non-posting alternate schedules cannot be revalued. To change a tax or alternate-basis schedule, edit that schedule's configuration on the asset record — depreciation method, useful life, in-service date, and capitalized value for that slot — and regenerate the schedule.
• Renamed alternate schedules display two different names. A schedule renamed on the asset record displays the new name on the Asset Revaluation and Build Up pages, but displays as Alternate N on the Revaluation Proposal record and in CSV Import. The stored value is identical in both cases.
• The effective period must be open and unprocessed on every targeted book. The effective date options are derived from unprocessed schedule lines for the selected schedule. If one book has been processed further forward than another, the books do not share an available period.
• Reversals follow the individual proposal records. Each book's revaluation is reversed through its own proposal, not by reversing the parent - All - proposal alone.

Troubleshooting