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Revalue a fixed asset

Change a registered asset's value and remaining life, post the difference to the ledger and restart its depreciation from the new value.

For accountantsUpdated 4 Nov 2026

Before you start

  • Register a fixed assetOnly an asset that has been saved, and not disposed of, can be revalued.
  • Set up fixed assetsUnder posting groups, the revaluation increase and decrease accounts come from the asset's fixed asset posting group.
In this article
  1. Steps
  2. What gets posted
  3. What happens to depreciation
  4. Rules to know
  5. If something goes wrong
  6. What's next

A revaluation sets a new value (the Valuation Cost) and a new life for an asset item. You create it first as a draft, then save it to post it. Saving posts only the difference between the asset's current cost and the new value.

Steps

  1. Open Fixed Assets › Revaluation

    In the menu on the left, select Accounts, then Fixed Assets, then Revaluation. The list shows every revaluation with its asset, Effective Date, Life Span, Valuation and accounts.

    1. Revaluation under Fixed Assets.
    2. Create new starts a revaluation.
    3. SAVED shows a revaluation that has been posted. A draft has a ⋮ menu with Save, Edit and Delete instead.

  2. Fill in the revaluation

    Select Create new.

    1. Asset: the asset item, shown by its code and name.
    2. Old life span fills in from the asset.
    3. Effective date: the date the new value applies from. Depreciation restarts from this date.
    4. Life span - months: the asset's new remaining life.
    5. Valuation Cost: the asset's new value.
    6. Account to credit: the account the difference posts against when your organisation uses account settings.
    7. Add items saves the revaluation as a draft. Nothing is posted yet.

    All fields are required. Life span and valuation cost must be more than 0.

  3. Save the revaluation to post it

    In the list, open the draft's ⋮ menu and select Save, then Confirm Save. The revaluation is posted and shows SAVED.

    Until then you can Edit or Delete the draft.

What gets posted

Only the difference between the asset's current cost and the Valuation Cost is posted, in your base currency, dated the day you save.

The new value is…DebitCredit
Higher than the current costThe asset's account, with the increaseThe revaluation account, with the increase
Lower than the current costThe revaluation account, with the decreaseThe asset's account, with the decrease
The sameNothing is posted
  • The asset's account is the account its cost sits in now.
  • The revaluation account is the posting group's Revaluation increase account (or Revaluation decrease account for a decrease) under posting groups, or the Account to credit on the revaluation under account settings.

What happens to depreciation

After the revaluation is saved, the asset item takes the new Valuation Cost, the new Life span and the revaluation's Effective date. Depreciation restarts from that date:

New monthly charge = (Valuation Cost − Scrap Value) ÷ new Life span (months)

See How depreciation works.

Rules to know

  • A disposed asset can't be revalued.
  • A saved revaluation can't be posted again. To change the value again, create a new revaluation.
  • Once an asset has been revalued, it can't be disposed of with a date earlier than the revaluation.

If something goes wrong

MessageWhat to do
Please select an asset! / Please select an account! / Please select a date!Fill in the missing field.
life span and valuation cost are required!Enter a life span and a valuation cost greater than 0.
Cannot revalue an unprocessed asset!The asset hasn't been saved yet, or it has been disposed of. Save the asset first.
This asset has been disposed, so it cannot be revalued.Nothing to do: the asset is no longer on the books.
This revaluation is already posted. Record a new revaluation to change the asset's value again.Create a new revaluation.
Asset '…': Fixed Asset Posting Group '…': Revaluation Increase Account is not set. (or Decrease)Add the account to the asset's fixed asset posting group.

What's next