What is the Schedule of Capital Expenditures?
The Schedule of Capital Expenditures is a report to show, in chronological order & grouped by property, the list of capital expenditures made over a given period of time for your rental property business. Capital expenditures (CapEx) are funds used by a business to acquire, upgrade, and maintain its assets.
What is the Schedule of Capital Expenditures used for?
The Schedule of Capital Expenditures helps you and your CPA track the dates, amounts, service dates, and useful lives for various CapEx items, including buildings, major improvements or repair projects. This helps to ensure you accurately capture all the depreciations and amortizations to maximize tax deductions. The Schedule of CapEx directly ties to your tax returns - this report will help you to understand (and your CPA to prepare) your depreciation tax deductions.
What is included in Azibo’s Schedule of Capital Expenditures report?
| Field | Definition |
| Portfolio | The portfolio that contains the property for which this capital expenditure occurred |
| Property | The property for which this capital expenditure occurred |
| Unit | The unit for which this capital expenditure occurred. This will only show if you assign the transaction or journal entry to a specific unit. |
| Category | The specific fixed assets category for this capital expenditure (e.g., buildings & other depreciable assets) |
| Subcategory | The subcategory that explains in more detail the type of capital expenditure (e.g., Floors, Roofing, etc). |
| Date | The date the purchase was made or the expenditure occurred. |
| Memo/Description | Additional notes for this transaction (note - you have to add these for these to show up). |
| Vendor | The company or individual from whom the goods or services were purchased. Note - you have to assign this as well for it to show up here. |
| Debit | The amount that was spent on this specific transaction |
| Credit | Any reductions to a specific capital expenditure (e.g., you returned an appliance). |
| Date Placed in Service | The date the asset was put into use and started depreciating. This is not currently captured by Azibo, but provided here so you can download the excel and fill it in yourself. This will be captured in a future enhancement. |
| Useful Life for Depreciation | The estimated period over which the asset is expected to be used before it is fully depreciated. This is not currently captured by Azibo, but provided here so you can download the excel and fill it in yourself. This will be captured in a future enhancement. |
Would you like to learn more about Capital Expenditures and how it applies to your real estate business? Click here to read more.