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Categories AgExpert Accounting AgExpert Analyst
Created by AgExpert Support
Created on Jul 15, 2015

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When entering improvements to a capital asset, such as house renovations (corporate owned), is it correct to process each transaction as a capital asset purchase? It doesn't seem to make much sense to record each transaction as if it were an independent capital asset...

  • ADMIN RESPONSE
    Feb 10, 2025

    Hi Isaac!

    In a case such as this, we use what we call the "Work in Progress Method" to roll all of these improvements into a single capital asset. We have laid out the process in the following Knowledge Base article:

    http://community.fccsoftwar...

    I hope this helps!

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