Write up an asset
A write-up is an increase made to the book value of an asset because its carrying value is less than fair market value.
If you have an asset that has been revalued to a higher value than it had from the beginning, you can write it up using the Write up functionality in the Tools menu in the Asset Registry.
Click on the asset in the list. Then click on the Tools drop down menu and select Write up.
A modal appears where you enter the Transaction date, the amount the asset is to be written up by. You also have the possibility to enter a note which will then be displayed under the History section of the asset on the row that corresponds to the write up.
If the revaluation is based on a purchase, you can link one or several supplier invoices to the write up. Autocomplete will help you find the invoice you are searching for in the window. See below. The transaction date & the sum will be taken from the invoice automatically.
Then click on Save.
When the write-up is carried out:
- The depreciation plan is updated.
- The depreciable basis, depreciable value & book value of the asset are updated.
- A journal is automatically created in Briox accounting using the accounts from the Asset Type assigned to the asset.
The journal uses: - The asset account in Debit
- The revaluation account in Credit
If an account is missing as in the example below the Asset registry will not be able to carry out the operation.
A row is created in the history of the Asset:
The history is displaying both the write up journal number and linked supplier invoice number. You can press on each to dig in for more details.
To unlink an invoice from the Asset, simply click Unlink.
If the invoice is disconnected you are asked if you want to write down the asset. Press OK to proceed, or Cancel to quit.
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