Import updated Capex data

Overview

Use the Capex import function to update existing capital expenditure (Capex) records within a register section. This is helpful if you regularly maintain or adjust Capex data.

Before importing:

• The register, section, and each line in both Cost and Accumulated Depreciation must be set up first in order to import your Capex data.
• Each register, section, and each line in both Cost and Accumulated Depreciation must have a unique code, as these codes are used to match data during import.

⚠️ Warning: Codes are essential for mapping data during import. If missing or duplicated, your import will fail.

Export and update the Capex template

1. From the entity’s tax year summary, in the navigation bar select Workpapers > Capex Details.
2. Select the Export button to download the current register details to an Excel file.
3. Open the file and update the Amount column with new values.
4. Save the file.

Tip: You can include the exported tab in a larger workbook (e.g. your fixed asset register), but make sure the Capex tab is the first tab in the file. This is required for a successful import.

Import updated Capex data

1. From the entity’s tax year summary, in the navigation bar select Workpapers > Capex Details.
2. Select Import.
3. Locate and select the updated Excel file.
4. Select Open.
5. A green confirmation banner will display if the import is successful, showing the number of records imported.
6. Select Close.

Roll forward Capex data for subsequent years

If there is a workpaper attached to a trial balance account that is linked to Capex (such as depreciation or disposal), when the trial balance rolls forward, the workpaper will also roll forward and will continue to  appear in the Capex register.

Any lines in the register section that are not linked to a workpaper must be manually added each year before importing updated data.

To roll forward and update Capex amounts:

1. From the entity’s prior tax year, in the navigation bar select Workpapers > Capex Details.
2. Select the Export button to download the current Capex register to an Excel file.
3. In Excel:
   1. Update the Amount column for any new values.
   2. Lines with opening balances can be deleted if required, as these carry forward automatically in TaxLab.
4. In the entity’s current tax year, go to Workpapers > Capex Details.
5. Select Import, locate the updated Excel file, and select Open.
6. A green confirmation banner will display the number of records successfully imported.
7. Select Close.

⚠️ Warning: Make sure any manually added Capex lines (those not linked to trial balance accounts) are entered in the current year's register before importing, or the related data will not be recognised.

Troubleshooting

Error: Oops, your data isn’t in a format we recognise

This error can occur for several different reasons when importing your updated register data.

Please check the following:

• Each Register, Section (account) and line item in the section has its own unique code. 
• There are no duplicate codes across any of the line items, sections or registers.