Enter your idea

Have been adding in a few conversion balances and fixed assets, and discovered that you can't add private use depreciation amount. Our business practice is to leave a note on the transaction, and even if the private use is correct going forward, it doesn't show historically on reporting as private use.
Would be nice for reporting purposes to include this as separated from the normal accumulated depreciation business use.

SOLUTION:

Although it would be ideal if Xero added a box for private use %, here is a suggested solution for you to use in the meantime.

SUGGESTION: Use the 'Cost Limit' box to achieve your objective.

For example, if a new vehicle costs $60,000 and the business use percentage is 50%:

1) Enter the asset into the Fixed Assets with the correct purchase price, i.e. $60,000.

2) Next to the depreciation 'Start Date' click on 'Show more options' so that you can access the 'Cost Limit' box.

3) Enter $30,000 (asset cost x private portion) into the 'Cost Limit' box.

This will ensure that:

1) The purchase and sale are accounted for correctly.

2) Only the business portion of depreciation is posted to the P&L.

3) By adding the 'Cost Limit' column to the depreciation schedule, you can see the reason for reduced depreciation and enable reconciliation to the Balance Sheet.

I hope that helps.

Any update on this for the Australian Version?

We need urgently in Australia version

Please add this function as soon as possible, especially if its available in NZ.

I cant understand how this function is not active in a Xero blue file, yet its active on Xero tax!

Xero development team, need to step up your game ASAP!!!

Enable the option to include a private use % when adding an asset to the fixed asset register

Critical feature for:

- saving time
- keeping a proper audit trail
- avoid errors

So strange that this feature is not available in Australia. This feature is so basic and so important. Please make this available asap.

Please get this implemented ASAP, please!

I can't beleive this is not a function, especially when you have already implemented it in othe regions.

@Dale They were able to implement it within Xero Tax, but still not within Xero Blue!!

I believe this has to be a feature in XERO, why does the NZ version have it and Australia doesn't????

I cannot believe it is 2024 and Xero still does not have this capability..

I cannot believe that this is not already a feature of Xero - it is very disappointing that it is not - means extra work for the accountant.

Agreed

Agreed

I am an accountant and this feature is a must....I can't believe it is not already written into the software. Xero you need to fix this!!!

Necessary function to keep track of clients accounting and taxation.

This is a basic function.