Can you capitalize as fixed assets major repairs and maintenance expense?
by Roger Tamase
I am currently working with a bookkeeper who is helping us to change to QuickBooks Non-Profit.
Our board is wondering why we are depreciating the assets when we are a non-profit and don't claim it on a tax return as well as if we need to depreciate at all or if we can expense the item straight away.
Your help and any links to requirements in this area would be great. Also, if we are required to depreciate, where would I find out the best methodology to do so? Does QuickBooks do this for you?