Each object in your collection may have multiple valuations over time. The eHive Valuations tab allows you to record multiple sets of valuations over time, with a separate set of fields noting the latest valuation.
Valuations in eHive
There are two sections to the eHive Valuations tab.
The Valuation History section allows you to enter detailed valuation information such as:
- Valuation Type
- Valuation Method
- Valuation Date
- Foreign Currency Type
- Foreign Currency Value
- Exchange Rate to Local Currency
Use this section if you wish to enter more information about the valuation than just the valuation amount. This could include what sort of valuation it is, when it was done or who performed the valuation.
You can add multiple valuations by clicking the 'Add another Set' button at the bottom of the Valuation History section. This allows you to store details about changes in valuations of objects over time. You can use the 'Reorder' buttons to arrange the valuation sets in chronological order.
The Latest Valuations fields on the Valuation screen have two functions:
- You can enter valuation information directly in this fields if you know the valuation amount only, but no other information.
- eHive will enter the latest valuations in these fields from the data you have entered in the Valuation History section.
Calculating Latest Valuations
Please note that eHive does not automatically calculate latest valuations. When you enter a new set of valuation details in the Valuation History section, you must decide if the new valuation should also update the latest valuation fields.
You will be prompted: 'Do you want to update the Latest Valuation?' If you have selected a specific valuation type, for example Insurance, then you will be prompted 'Do you want to update the Latest Valuation and Latest Insurance Valuation?'.
If the valuation you have entered is the most recent valuation, then choose 'Yes' to update the latest valuation fields.