Hello Ann,

When doing a revaluation to fair market value is usually how the asset would be entered into the new company to continue their depreciation, not how they are disposed of in the current company.

To keep the history, the sales would just be a bulk disposal of all the currently active assets.

See How to perform a bulk disposal and How to create a group of only Active assets for more information.

~Delray

So we will have to set up a new company in the Fixed Assets? The sale took place in 2022 and the fixed assets were not adjusted at all in the Sage Fixed Assets module so I am trying to clean up and correct everything. 

Hello Ann,

The thing is, you are talking about two mutually exclusive processes because it is two different types of calculations involved. First you have the disposal calculation, done in the program, then there is the fair market value which is done outside of the program. While that fair market value may or may not be the Net book value, the disposal and the required calculation for that disposal comes first.

You cannot have a disposal and then have a revaluation in the same asset.

Since you are looking to keep the history, the simplest thing to do would be to Backup the company, then Restore the company under a different name, then do the disposal in one of those companies and the revaluation in the other.

And yet there are other answers to this same question.

~Delray

Hi Ann,

Here's another option. It's hard to give a precise answer because the nature of the sale and revaluation, and thus your needs, can vary. Some customers prefer to keep the assets in the original company. In this case, they copy the original book(s), with it's historical cost, PIS date, etc.,  to an unused book. Then, adjust the value of the assets in the original book to FMV, change to the new PIS date, etc.

The advantage: you can continue to run depreciation on the revalued assets (the original book) and the historical assets (the copy-to-book) for comparison purposes. This method works well if the sale affects the internal (GAAP) accounting only, and the tax book needs to continue at the historical amounts. The downside is you can't dispose of the original value of the assets in Sage Fixed Assets, as an individual book can't be disposed of. But it sounds like that may not be necessary, in  your scenario.