I just bought a new property and entered all of the Loan Costs and Closing Costs as transactions for Capital Expenses and adjusted their useful life appropriately. Now the Capital Expenses are showing up on the Cash Flow report as huge outflows.
These closing costs are added to the cost basis and depreciated along with the property and loan. How do I hide them from showing up as outflows for the year? Or are they supposed to show up as outflows?
To add to this question:
I entered the down payment for the property in the Transfers - Down Payment section and it doesn’t seem to show up anywhere on the reports. Wouldn’t that want to show up in the Cash Flow report along with the Closing Costs?
@ehaug87 Thanks for your questions! We’ve recently overhauled how purchase, sale, and refinance activity is tracked and reported in Stessa. These updates address all of your concerns and handle the reporting details more elegantly.
Read more in the new help article: Track Purchases, Sales, and Refinances