Forum Message

Adjusting Book Value of Property

For Property (buildings) how do I adjust the book value to reflect the current market value


Posted by John Pringle on Oct 21, 2021 11:56 AM BST

Hi John,

My understanding of accounting rules is that if you revalue property you
would debit the property asset account, and credit an Equity account called
'Revaluation Surplus'. However, I'm not an expert on this topic - please
check with your accountant.

Note that to create a transaction in Solar Accounts with a single debit and
single credit, click menu File > New > General Transaction, then enter the
account to be credited in the From Account field and the account to be
debited in the To Account field.


Posted by Solar Accounts Customer Support on Oct 21, 2021 12:22 PM BST

Thank you.


Posted by John Pringle on Oct 21, 2021 3:10 PM BST