Hi Ludwig,
I have changed it to straight line life remaining as depreciation method and i can see the depreciation profile changes accordingly and it's working fine as per the requirement. Thanks!
For to handle this in AX accounting side,
Asset Purchased in 2017 Jan with the cost of 60,000 USD and Depreciated 40,000 USD up to until Dec 2018. So, Current Net book value is 20,000 USD.
Now, Asset revalued based on the current market price as 50,000 USD. So, I have planned to capture the below transaction in AX as per the image below.
1. Depreciation Adjustment - To reverse the accumulated depreciation value of 40,000 USD (Debit - Acc. Dep. Account, Credit - FA Comprehensive Income).
2. Acquisition Adjustment - To deduce the accumulated depreciation value of 40,000 USD in Asset Account (debit - FA Comprehensive Income, Credit - Asset Account).
3. Write Up Adjustment - Adjustment of 30,000 USD to bring the revalued asset value of 50,000 USD (debit - Asset Account, Credit - FA Comprehensive Income).
I have tested the above case and it working for me in accounting side as well as reporting side.
Can I proceed this way? or Please suggest.
Thanks,