Issue

What are the difference between the two Property Capital Improvement events?

Resolution

There are two options available:

Option 1: Capitalise the Property Capital Improvement

Option 2: Expense the Property Capital Improvement

Option 1: To capitalise the Property Capital Improvement

Navigate to Fund level > Transactions > Investment - Buy > Property Capital Improvement

1. Select the Property Account
2. Enter Improvement Date
3. Enter capital improvement amount
   
   
4. Click Submit to complete the transaction

You can refer to our User Guide for more information on Property Capital Improvement - Capitalising & Depreciating New Assets.

Option 2: To expense the Property Capital Improvement

Navigate to the Fund level > Transactions > Fund Income > Rental Statement

1. Select the Property Account
2. Enter the date, you may enter the same date into the From Date and To Date fields
3. Select Property Capital Improvement from the Expense type drop down list
4. Enter Expenses' Amount and GST 
   
   
5. Click Submit

• • This expense will show in the Operating Statement
  • This Event could also be processed via Transactions > Fund expense > Property Capital Improvement . You can refer to our User Guide for the detailed steps for processing Fund Expenses.