Skip to content
← For small businesses

Enter your idea

For small businesses: Accounting features

Categories

(thinking…)

Fixed Assets - Partial allocation of depreciation for business and private use

To have the ability to account for depreciation on both business and private portions of an asset.

Purpose: Save time for users to get the correct figures rather than going through manual process.

215 votes

We're glad you're here

Please sign in to leave feedback
Signed in as (Sign out)
Close
Close

We’ll send you updates on this idea

AdminXero Team (Admin, Xero) shared this idea  ·   ·  Report…  ·  Admin →
How important is this to you?

We're glad you're here

Please sign in to leave feedback
Signed in as (Sign out)
Close
Close

We're glad you're here

Please sign in to leave feedback
Signed in as (Sign out)
Close
Close
Submitting...
An error occurred while saving the comment
  • Phil Davis commented  ·   ·  Report

    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.

  • Chris Mouradjallian commented  ·   ·  Report

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

  • John Tsoutras commented  ·   ·  Report

    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!!!

  • James Moore commented  ·   ·  Report

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

  • Suzanne McKean commented  ·   ·  Report

    Critical feature for:

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

  • Reetika Gupta commented  ·   ·  Report

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

  • Anthony Hughes commented  ·   ·  Report

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

  • Paul Howlett commented  ·   ·  Report

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

  • Dale Dunbar commented  ·   ·  Report

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

  • Zoe Mahlstedt commented  ·   ·  Report

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

  • Linda Kaye commented  ·   ·  Report

    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.

  • Kerry Turnbull commented  ·   ·  Report

    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!!!

  • Belinda Ebert commented  ·   ·  Report

    Necessary function to keep track of clients accounting and taxation.

← Previous 1 3