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QuickBooks Community / Forums / QuickBooks UK /
Fixed Asset Re-Valuation
Nov 03, 2006 05:17 am

[MollyMoulding]
MollyMoulding

New Member

Total posts: 4
This post is about: Basic 2005 for Windows
I need to re-value an asset (property), I assume i Dr the asset account, where does the other side of the posting go?
Replies to Fixed Asset Re-Valuation
[telespan]
telespan

Senior Contributor

Total posts: 126
#1
of 2 		Fixed Asset Re-Valuation
Nov 03, 2006 05:52 am  
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This post is about: Basic 2005 for Windows
The credit will go to an account you will need to create called Revaluation Reserve. This will be an Equity account as the balance is not a distributable amount, until the underlying asset is actually realised.
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[MollyMoulding]
MollyMoulding

New Member

Total posts: 4
#2
of 2 		Fixed Asset Re-Valuation
Nov 03, 2006 06:18 am  
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This post is about: Basic 2005 for Windows
Replying to: telespan (Nov 3, 2006 5:52 am)
thanks for your help.

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