valuation report and general ledger

Yes - as I wrote before (because I think this is useful): “Physical” transaction -> Recorded in a book of prime entry -> Posted to the general ledger -> Extracted in a trial balance -> Period end adjustments (depreciation, inventory, bad debts, etc) -> Financial statements. The thing to remember is that any adjustments after the extraction of the trial balance must, at some point, almost be posted to the general ledger (usually as journals) otherwise there will be a complete mess if the opening balances in the general ledger for the following year do not agree to the balances in the financial statements (!) So a revaluation will either be recorded (via a journal) during the year: Dr Asset/Cr Revaluation or as a period-end adjustment if it happens only at the y/e. It has to come from a journal posting because there is no transaction (e.g. cash) that would record it in any other book of prime entry.