Management > Fair Market Value > Tracking changes in Fair Market Value
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Tracking changes in Fair Market Value
You can track changes in fair market value over time by entering a value for each asset in each month.
- Select Fair Market Value from the Management menu. The Fair Market Value dialogue box will appear, featuring two sections.
- General Assets - this tab lists normal assets such as investments and land. You can enter each asset’s fair market value for each month by scrolling across the screen. You can use this information to track changes in the asset’s value over time.
- Capital Assets – this tab lists your individual capital assets. Each asset that you set up in the system has its own cost and fair market value. You can update the values for each month by scrolling across the screen.
- Note: You can select a different fiscal year from the drop-down menu on the bottom left corner of both theGeneral Assets and Capital Assets screens.
- General Assets - this tab lists normal assets such as investments and land. You can enter each asset’s fair market value for each month by scrolling across the screen. You can use this information to track changes in the asset’s value over time.
- Once you've updated all of your values, click Save to close the screen.
You can now use this information to set up your Net Worth Statement to track your fair market values over a period of time.
- Select Report Console from Reports menu.
- Select Financial from the menu on the left and then click Net Worth.
- Select the Type of Net Worth Statement you want to generate and the date from which you want to pull the Fair Market Value information. For example, if you want a Net Worth Statement as of July 31, the report will pull information from the July column.
Last updated on November 7, 2014 by FCC AgExpert