Fixed Assets - Ability to include additions to existing assets
Feature where users’ can include addition to existing assets.
Purpose: To save users’ time rather than having two create two different assets in Xero.
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Olivia Rawson commented
This would be a massive help, especially for our clients who make additions to their vehicles or properties, we end up with a bunch of assets on our schedule all relating to one actual asset - ends up looking unnecessarily messy
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Audrey Connelly commented
Grouping of assets - same as MYOB the old AO , was so Good. the same please, obviously been asked for previously , so why no action ?
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John Lewis commented
Coming up on the 10 year anniversary of this request. Tipping it's not likely to happen any time soon
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Maria Lis commented
I dont understand how something so important is not yet delivered at least since 2014.
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Yasmeen Tahoune commented
Has this been sorted? very disappointing fixed assets module that doesn't allow additions to an existing asset.
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Carolyn Nicol commented
I personally do not see a problem with having two separate assets to handle additions, but would like the ability to group them as one in reports. If a reduction in the original assets is required a negative asset may not be possible, so some ability to alter cost would be good. Also seems to be impossible to add assets with passed accumulated depreciation. In NZ if a asset is purchased from an associate we need to keep the original cost & accumulated depreciation for the new owner, so if sold for more that the original cost, the full amount of depreciation previously claimed can be shown as income to the new owner.
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Jun Zhao commented
It would be helpful to have "Second Element of Cost" for existing fixed assets -
Purpose: to enable either "Additional Cost" or "Discount" to be added into existing Registered Assets.
From accounting/bookkeeping perspective, this additional cost/discount should *not* impact the depreciation in past periods (ie Past Depreciation Amount is supposed to be locked once a financial period is closed. A separate journal can be created in order to reflect/catch up the changes in GL)
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Josh Ireland commented
Would be very useful to be able to assign costs to a fixed asset from a bill or receipt I.e. a bill for a machinery repair assigned to a specific machine
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Hollie West commented
Have the ability to add additions to existing fixed assets instead of having to make a whole new Fixed Asset
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Carolyn Nicol commented
Agree the ability to combine assets or add extra value to them is something other programs can do so miss not being able to do the same in Xero.
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Louise Caskey commented
Improvements to the Fixed asset module has been requested from the last 6 years at least in the xero community - accountants have been consistently ignored on this issue - PLEASE commit resources to updating all functionality around Fixed Assets.