In REI Hub, you can make depreciation entries for an individual fixed asset or an uncategorized depreciation entry that is not associated with a specific asset.
Uncategorized depreciation entries are primarily utilized when the investor does not directly manage their fixed assets and receives a consolidated depreciation entry from their CPA or tax preparer that encompasses all of their assets.
Check out the Fixed Asset Schedule report for estimated depreciation amounts!
To Enter Uncategorized Depreciation
1) Click the Add Transaction button from the top of the left menu
2) Select Depreciation from the Other column
3) Enter in the depreciation details
Since depreciation is a non-cash expense or deduction (not a bank transaction), it can be entered at any time in the relevant accounting period. For consistency and simplicity, we recommend making your depreciation entries on December 31st of the appropriate year.
Enter the total depreciation amount for the calendar year. Since this entry is being made on an uncategorized, entire-portfolio basis, leave the fixed asset field blank (and presumably, you do not have individual assets entered).
4) Click Save Depreciation and view your reports
Your depreciation entry has now been added to your books. It is displayed as an Expense on the Net Income and Schedule E reports.
Still have questions? Reach out to our Support Team via email at [email protected] or call us at (888)939-6865.