Property Purchase Cost

[joeltobias]

Hi

SLightly confused about how to enter the cost of a property that I've purchased. I understand that the capital cost should be entered in the property purchase details but then I've seen an answer to an FAQ here https://landlordvision.userecho.com/en/ ... -purchase where the purchase cost is also entered as an expense. Whats the difference?

[roy]

Hello

Thank you for your post

Yes, there are two places to enter a property purchase and they do different things. The Property Details updates the Capital Gains and Mortgage Broker Summary reports and the expense updates the Fixed Assets account and gives you something to offset the mortgage against. There are plans to unify this so you only need to record the property purchase once, but at the moment the process is as per the FAQ you posted

Kind regards
Roy