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For small businesses: Accounting features

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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.

219 votes

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  • Janelle Sawtell commented  ·   ·  Report

    I can't believe that Xero does not support a feature that is required and used with all business clients. Having to manually calculate the private use of assets does not streamline processes and is highly likely to be overlooked in the end of year process. Xero marketing suggests that we can work smarter and speed up the preparation of taxation documents by using the program. I don't think so. Other countries have this feature, so why is Australia missing out?

  • Kerri Welsh commented  ·   ·  Report

    Hard to believe that Xero can't do something like this that is SUPER important but yet go and change the format of bank recs that work perfectly fine.
    Guess I will have to work out a messy work around.

  • Andrew Dick commented  ·   ·  Report

    If one of the premises with Xero is creating efficiencies this feature missing certainly detracts from this and Xero is actually behind other products.

  • Christian Dorward commented  ·   ·  Report

    This is critical. If MYOB, Handisoft and CCH can do it why can't Xero?

  • Rebecca Koppers commented  ·   ·  Report

    Agree that this is an essential upgrade that should be in the Australian version

  • Drew Delamont commented  ·   ·  Report

    An option or inbuilt calculator within the fixed asset register settings to categorise and easily reconcile assets with private use so that they depreciate correctly, with further resources to calculate compounding or fluctuating rates of private use over multiple years on the same asset.

  • Kim Turton commented  ·   ·  Report

    AU - Depreciation to be able to enter private use percentages and appropriate journals entries calculated and transferred to ledger

  • Kirsty O'Gorman commented  ·   ·  Report

    All other accounting software has this functionality. It is critical and many accountants would need use of this on a regular basis.

  • Andrew Dick commented  ·   ·  Report

    this is very important for automating accounting function.
    i am surprised that it is not in the Australian software

  • Alanah Beard commented  ·   ·  Report

    Enable private use allocation when adding assets into fixed assets. Currently this is only available for NZ users, can this be made available to Australian Users.

  • Sandra Polotnianka commented  ·   ·  Report

    Not only should there be a function to allow for private use and business use but also the cost limit of motor vehicles is important from an accountants persepctive.
    The derpecaition schedule is very basic compared to other software.

  • Nina Totzek commented  ·   ·  Report

    It should be an easy target. I need this daily.

  • Matthew Hazlewood commented  ·   ·  Report

    This functionality is required for correct depreciation and tracking for balancing charge calculations on disposal.

  • Gregory Chaimandos commented  ·   ·  Report

    We are in 2022 and still no feature of having Private Use % in Fixed Asset register in Xero.

    Xero Customer support advised it is functional in New Zealand however not other counties? Seriously? I am based in Australia and expected that this would be a feature already in the Fixed Asset register. Clearly, Xero have the algorithm set up for it to work in New Zealand. Very disappointed.

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