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Business Activity Statement - To automatically calculate Fuel Tax Credits

Ability to automatically calculate Fuel Tax Credits in the Business Activity Statement.

Purpose: It can save user’s time when calculating fuel tax credit, rather than doing it manually.

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AdminXero Team (Admin, Xero) shared this idea  ·   ·  Report…  ·  Admin →
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submitted  ·  AdminKelly Munro (Community Manager, Xero) responded  · 

Hi community, we appreciate the interest this idea has received. Sorry we haven't engaged with you on this idea sooner.

We understand being able to efficiently track and calculate fuel tax credits is important to you all who've supported this, however we want to be transparent that this isn't a feature we're looking to develop in the near future.

If you haven't already found a means to track this I wanted to share a method that could help. In Xero you could create untracked Inventory Items for each fuel type. When you enter purchases for fuel, you'd select the appropriate item, entering the number of litres into the Qty field, and the price per litre into the Unit Price field.

You could then use the Inventory Summary report to view the quantity of the fuel purchased during a date range.

If there are any changes around this we'll share with you all, here.

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  • Shelley Lovegrove commented  ·   ·  Report

    Great work around. I already do this. However very frustrating that Hubdoc doesn't allow for the Fuel Price to be correctly calculated as it only allows 2 spaces behind the decimal. Fuel prices are usually 1.799 etc. Can this please be changed in Hubdoc to allow the accurate provision of Fuel Price per litre.
    Thanks

  • Peejay Moody commented  ·   ·  Report

    'Xero Team shared this idea 7/5/2012'
    13. Years. Later.

  • Craig Pettit commented  ·   ·  Report

    For Fuel Tax Credits, create a tab in the Accounting menu that enables the following:
    - Simple entry of date and liters (including ability to upload receipt)
    - Xero interfaces ATO and ensures correct FTC rate
    - Automatically pulls FTC data into AS at end of period
    - Automatic accounting of FTC in system

  • Garth Wilson commented  ·   ·  Report

    Just signed up for a trial on Xero but no fuel tax credit system when lodging BAS, WTF

  • Jodie Lee commented  ·   ·  Report

    The fact that we can't even get a 'quantity' to appear in the account transactions, doesn't hold out much hope that Xero will implement anything at all to make our lives easier :)... NOT IMPRESSED XERO

  • Peejay Moody commented  ·   ·  Report

    'Xero Team shared this idea 7/5/2012'
    12. Years. Later.

  • Martyn Fagan commented  ·   ·  Report

    This would also assist in the calculation of Livestock Accounting, just be adding the column for quantities.

  • Ross Brumfield commented  ·   ·  Report

    Need litres on fuel added up on two types of fuel can this be done.

  • Chrissie Ho commented  ·   ·  Report

    You have this feature available in two separate reports yet you cannot create one report?
    How can you say you provide Activity Statements when you are ignoring a crucial part? You cannot do a complete BAS in Xero for lack of this and other features. You have the frame work. Why isn't this done?
    I have noticed this is worded in many requested that have not been combined either.

  • Paul-John Mudie commented  ·   ·  Report

    11. Years. Later.
    Even the ability to choose 'quantity' as a field in a Transaction Report would alleviate this issue greatly.

  • Martyn Fagan commented  ·   ·  Report

    MYOB and APS does it. It is not hard to do. the old BankLink did it within a month of the request. why does xero resist this important and simple request

  • Peter Kokkonis commented  ·   ·  Report

    It has just been suggested that Xero won't be able to look at implementing this feature at the moment as they are too busy ignoring requests to keep the old reports.

  • Peter Kokkonis commented  ·   ·  Report

    It stands to reason that some businesses have to log Fuel Tax Credits therefore accounting software should be capable of calculating this. TPAR and PAYG are managed through accounting software, this should be too.

  • Paul-John Mudie commented  ·   ·  Report

    "Xero Team shared this idea May 7, 2012"

    A decade later and the software still cannot calculate fuel tax credits

  • Peter Armstrong commented  ·   ·  Report

    I can't understand why this still isn't a standard feature given how important it is for any business with heavy vehicles.

  • Martyn Fagan commented  ·   ·  Report

    Very important for rural clients.

    (For livestock accounting, and also Fuel Tax Credits.)
    MYOB BankLink was able to do this over 15 years ago, after feedback and requests from their accounting partners.
    MYOB Essentials/Business Online is now able to do this as well, as MYOB listened to their Accounting partner Requests.

  • Stephen Arthur commented  ·   ·  Report

    Automatic calculation of fuel tax credits is a critical issue for many businesses.

    The lack of an automatic calculator is impeding our ability to get clients to to convert to Xero from alternative software solutions.

  • Sherly Sanjaya commented  ·   ·  Report

    it is very important we not missing this function for benefit of client cashflow.

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