QB Issue Resolution:
At least in the US, repairs and asset for Buildings are different.
Repair = replaced a broken window.
Asset = Improvement extending its useful life = I changed out All Windows to new, security and high-efficiency models. As a Tenant, that is my asset because I invested in this non-removable improvement.
So, construction of new walls, removing old flooring, new Light Fixtures, etc is my Fixed Asset, even though I don’t own the building.
I recommend you review this with your own accountant.
Resolution for Issue 'i don’t have and FRI lease but have paid for repairs. the building repairs account is a tangible asset but it is not my asset. where should I record this expense?' available: Yes (Solved).
Source: Intuit Community forum.
i don’t have and FRI lease but have paid for repairs. the building repairs account is a tangible asset but it is not my asset. where should I record this expense?: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.Support for broken window
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