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This client screen is used for Limited companies.
It can be found in:
Edit | Data Screens | Notes to Financial Statements | Balance Sheet Items | Investment Property | Revaluation | Analysis of 'Cost or Valuation'
The figures entered on this screen are used in the standard revaluation note.
This screen determines how the value at the year end is comprised.
Checks will be performed by IRIS to ensure that the total shown here agrees to the total for that account in the trial balance.
| Year of Revaluation | Account 563 £ | |
| Valuation in | Enter the year of revaluation. Facility is made for up to 10 valuations. |
Enter the amount by which investment
property were revalued in the year. Enter a + sign if the investment has increased in value (or leave the field blank). Enter a - sign if the investment property have decreased in value. |
| Cost | The historical cost of the investment property. |
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| Total at end of year | The total of the column above is calculated by IRIS and displayed in the grey box. |
The table below shows the relationship between account 563, asset descriptions and the account numbers used to calculate the balance at the year end in the Notes to the Financial Statement.
| Account | Asset Description | Sub account | Debit or Credit Expected |
| 563 | Investment Property | ||
Cost/Valuation b/f |
1 | Debit | |
| Additions | 2 | Debit | |
| Disposals | 3 | Credit | |
| Grants | 4 | Credit | |
| Revaluations | 5 | Debit | |
| Impairments | 6 | Credit | |
| Reversal of impairments | 7 | Debit | |
| Exchange differences | 8 | Either | |
| Transfer of ownership | 9 | Debit | |
| Reclassification/transfer | 10 | Either |
Where the figure for Total at year end in the Analysis of 'Cost or Valuation' screen does not match the postings made to account 563 (as above) the following error message appears:
** TOTAL SHOWN ON CLIENT SCREEN - REVALUATION ANALYSIS - DOES NOT AGREE TO TOTAL OF FIXED ASSET 'COST' ACCOUNT HELD AT END OF YEAR IN RESPECT OF
INVESTMENT PROPERTY
'COST' ACCOUNT TOTAL
Posting made to account 563/1-10 as detailed above are listed XXX
-----------
XXX
CLIENT SCREEN TOTAL = XXX
Use this option to view or print any report without leaving this screen.
IRIS will return to the Revaluation analysis - investments screen when you exit the report option.
To view the notes only enter NOI in the Report/Document field.
This screen will be displayed automatically during the auto-pilot routine.