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Thread: How to record renovations on rented office

  1. #1
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    How to record renovations on rented office

    I have a receipt for the start up renovation of the office, such as design, renovations, some fixtures & installations
    The property is rented, and owner will not refund aafter lease ended.

    How should I record this entry? What account as I can not put it under Buildings & Improvemts as I do not own the office building

  2. #2
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    I rent out offices , but do not know what you are talking about ?? - are you wanting compensation ? Did you pay for the renovations ??

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    I do not want compensation or refund. Yes, I paid for the renovations

    I Want to know where to record this in my book, I can not expense it cause it's huge amount therefore it must be some kind of Fixed Assets as I will depreciate it over the years

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    OH .... I'm with you now ............... I guess an accounts guru will prob have to advise you correctly.

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    1. Allocate it to Improvements to leased property (fixed asset)
    2. Depreciate it over the initial lease period.

  6. #6
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    Ok, thanks a lot

  7. #7
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    You rent a property, then you want to play its value before it matures. Now that you have chosen to decorate office, then you should raise the rent. Prior to the expiry of the contract to get their money back. Or you can and the landlord sign a new contract. Your interests are guaranteed.

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