This page will guide you through the process of capitalising and depreciating newly purchased assets relating to a property account. E.g. purchasing a hot water system or air-conditioner for an existing property.
Navigate to Fund Level >Transactions > Match Transactions > Match To New > Investment-Buy > Capital Improvement.
- Enter Property Account (Search and select the property account in which the improvement related to.)
- Enter Improvement Date (This is the date the capital item was purchased)
- Enter Gross Amount (This is the gross amount or total cost to purchase the new item)
- GST (This is automatically pre-filled if the property attracts GST)
- Net Amount (If Applicable) (This is the net amount after subtracting GST if applicable to the property)
- Enter Description (You can enter a new description or use the default description from Class.)
- Click Submit after completing all the relevant fields.
To add the item to the Depreciation Worksheet
Navigate to fund level > Investments > Depreciation Worksheet
- Select the create new link
- The following screen will appear, asking you to confirm Depreciation Type, Depreciation Method and Depreciation Percentage.
- Click Save.
Learn more about Depreciation Schedules