{"id":4660,"date":"2020-05-19T15:05:14","date_gmt":"2020-05-19T13:05:14","guid":{"rendered":"https:\/\/www.sysfinpro.co.za\/?p=4660"},"modified":"2021-06-10T08:27:04","modified_gmt":"2021-06-10T06:27:04","slug":"kb20200519-03-sage-x3-tip-trick-how-to-revalue-an-asset-that-has-a-zero-net-book-value","status":"publish","type":"post","link":"https:\/\/www.sysfinpro.com\/index.php\/kb20200519-03-sage-x3-tip-trick-how-to-revalue-an-asset-that-has-a-zero-net-book-value\/","title":{"rendered":"KB20200519\/03: Sage X3 Tip &#038; Trick &#8211; How to revalue an asset that has a zero net book value"},"content":{"rendered":"\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.sysfinpro.co.za\/wp-content\/uploads\/2020\/05\/X3.jpg\" alt=\"\" class=\"wp-image-4725\" width=\"184\" height=\"61\" srcset=\"https:\/\/www.sysfinpro.com\/wp-content\/uploads\/2020\/05\/X3.jpg 344w, https:\/\/www.sysfinpro.com\/wp-content\/uploads\/2020\/05\/X3-300x99.jpg 300w\" sizes=\"auto, (max-width: 184px) 100vw, 184px\" \/><\/figure><\/div>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Step 1: <\/strong><\/h4>\n\n\n\n<p>Change the PRVSITUPD to \u201cYes\u201d<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Setup&gt; General parameters&gt; Parameter values AAS&gt; FAS&gt; PRVSITUPD = Yes<\/li><\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Step 2: <\/strong><\/h4>\n\n\n\n<p>Revalue the asset as normal.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Step 3: <\/strong><\/h4>\n\n\n\n<p>Change the depreciation start date by changing the in-service date to the month I want the new depreciation to start calculating from.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Step 4:<\/strong><\/h4>\n\n\n\n<p>Lastly, do a change in method and change the useful live to the new revalued period.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>See the example below: <\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\"><li>Purchase date &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30\/06\/2011<\/li><li>Cost price&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; R 130 175.44<\/li><li>Useful life&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 Years<\/li><li>Accumulated depreciation&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; R 130 175.44<\/li><li>Net book value&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; R 0.00<\/li><\/ul>\n\n\n\n<h5 class=\"wp-block-heading\"><strong>Now in 2019 you revalue the asset: <\/strong><\/h5>\n\n\n\n<ul class=\"wp-block-list\"><li>Revalued amount&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; R 25&nbsp;000.00<\/li><li>New useful life&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 years<\/li><li>Month depreciation&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25&nbsp;000\/36months = R694.44<\/li><\/ul>\n\n\n\n<p>The system calculated the new depreciation correctly that will be written off over 3 years starting 2019.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.sysfinpro.co.za\/wp-content\/uploads\/2020\/05\/Pic.jpg\" alt=\"\" class=\"wp-image-4663\" width=\"559\" height=\"396\" srcset=\"https:\/\/www.sysfinpro.com\/wp-content\/uploads\/2020\/05\/Pic.jpg 745w, https:\/\/www.sysfinpro.com\/wp-content\/uploads\/2020\/05\/Pic-300x213.jpg 300w\" sizes=\"auto, (max-width: 559px) 100vw, 559px\" \/><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>For further information please email&nbsp;<a href=\"mailto:info@sysfinpro.co.za\">info@sysfinpro.co.za<\/a>&nbsp;or call us on +27 12 880 0258&nbsp;<\/strong><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>Step 1: Change the PRVSITUPD to \u201cYes\u201d Setup&gt; General parameters&gt; Parameter values AAS&gt; FAS&gt; 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 [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"qubely_global_settings":"","qubely_interactions":"","footnotes":""},"categories":[51,54],"tags":[],"class_list":["post-4660","post","type-post","status-publish","format-standard","hentry","category-erp","category-x3"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"qubely_featured_image_url":null,"qubely_author":{"display_name":"SysFinPro","author_link":"https:\/\/www.sysfinpro.com\/index.php\/author\/sysfinpro\/"},"qubely_comment":0,"qubely_category":"<a href=\"https:\/\/www.sysfinpro.com\/index.php\/category\/erp\/\" rel=\"category tag\">ERP<\/a> <a href=\"https:\/\/www.sysfinpro.com\/index.php\/category\/erp\/x3\/\" rel=\"category tag\">Sage X3<\/a>","qubely_excerpt":"Step 1: Change the PRVSITUPD to \u201cYes\u201d Setup&gt; General parameters&gt; Parameter values AAS&gt; FAS&gt; 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&hellip;","featured_image_urls_v2":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","qubely_landscape":"","qubely_portrait":"","qubely_thumbnail":""},"post_excerpt_stackable_v2":"<p>Step 1: Change the PRVSITUPD to \u201cYes\u201d Setup&gt; General parameters&gt; Parameter values AAS&gt; FAS&gt; 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 &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30\/06\/2011Cost price&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; R 130 175.44Useful life&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 YearsAccumulated depreciation&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; R 130 175.44Net book value&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; R 0.00 Now in 2019 you revalue the asset: Revalued amount&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&hellip;<\/p>\n","category_list_v2":"<a href=\"https:\/\/www.sysfinpro.com\/index.php\/category\/erp\/\" rel=\"category tag\">ERP<\/a>, <a href=\"https:\/\/www.sysfinpro.com\/index.php\/category\/erp\/x3\/\" rel=\"category tag\">Sage X3<\/a>","author_info_v2":{"name":"SysFinPro","url":"https:\/\/www.sysfinpro.com\/index.php\/author\/sysfinpro\/"},"comments_num_v2":"0 comments","yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>KB20200519\/03: Sage X3 Tip &amp; Trick - How to revalue an asset that has a zero net book value - SysFinPro (Pty) Ltd.<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.sysfinpro.com\/index.php\/kb20200519-03-sage-x3-tip-trick-how-to-revalue-an-asset-that-has-a-zero-net-book-value\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"KB20200519\/03: Sage X3 Tip &amp; Trick - How to revalue an asset that has a zero net book value - SysFinPro (Pty) Ltd.\" \/>\n<meta property=\"og:description\" content=\"Step 1: Change the PRVSITUPD to \u201cYes\u201d Setup&gt; General parameters&gt; Parameter values AAS&gt; FAS&gt; PRVSITUPD = Yes Step 2: Revalue the asset as normal. 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General parameters&gt; Parameter values AAS&gt; FAS&gt; 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. 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