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I'm gobsmacked that this function isn't available within Xero. It's a basic accounting requirement! I've just received a message from Xero support suggesting two 'workarounds', neither of which is a tenable solution, and suggesting I "check with our accountant" - I am our accountant!! I think I'm going to have to move our rather complex asset register onto a manual depreciation schedule and stop using Xero for this key part of our business, which is incredibly irritating and time consuming.

Very disappointed that this is not on the road map. The software is not compliant with prevalent accounting standards.

I agree with all of the comments. This is a basic accounting requirement, particularly when looking at intangible assets. As voting is no longer an option, you appear to have decided that this will not be progressed, which is very worrying for an accounts software program. Please make this a priority as there is not an easy work around solution, which is very frustrating.

I would like to vote for this (but can't as its closed) as I think it is an essential feature that is required and there is not a suitable workaround in the product

Agree with the comments below. This is a basic accounting requirement and should be available. Xero has been around for almost 2 decades now, hard to believe you still haven't even put this on your road map.

Currently there is a restriction to register a credit note in Fixed Asset Register which is making life tricky at some point. can it be simply allowed as there isn't any accounting principle that restricts booking credit note in FA Register

I agree with all the comments- this is a very necessary addition to Xero. A vote on this looks like it may force it to be more of a priority.

Please add this to planned work and open the voting so we can push this issue forward.

Hi @Kelly,

Thanks for the feedback, but by when would this be relooked at?

In addition, would you kindly please turn on the voting section again, since further traction would assist with increasing the awareness for this feature to come through.

Best,
Kyle

With all the updates in Xero features surprised that this still hasn't been resolved.

Agree with all comments below, need to revalue some assets and capitalise unrecoverable VAT. Any work around suggested?

I raised this issue before. When the Accounting standard says we need to revalue our assets on a regular basis and XERO does not have this facility and not seeing this an important issue to introduce. Hope they can re consider this request.

I would agree with many comments that this is fundamental for the fixed asset register. Without this we are having an issue tying the fixed asset register back to our final accounts if there is any revaluation.

Such an important and surprisingly simple thing to implement I would have thought. Amazed this isn't a feature as yet.

So "at this stage want to confirm that this work is not currently on our roadmap."

You really mean that its far too complicated for developers who have no idea how they would do this without fundamentally screwing up the back end!!!

Poor show Xero......

We need a Revaluation feature for Fixed assets. This can be used in lots of fields like: real estate, logistics/transportation, farming, marketing, trading etc.

Actually lots of business around the globe needs this feature and it has been requested multiple times already.

Number of similar apps have already implemented it significantly impoving user experience.

Otherwise, we would appreciate if XERO team at least revert with instructions (workaround) of how Revaluation should be done using their current app functionality.

I propose adding two options to adjust the fixed asset value, allowing users to select the affected account from the chart of accounts. Ultimately, only advisors would have the authority to make these adjustments.

This is also needed for properties that reduce in value as a result of change in use to a GSTable property where the client wants to claim the GST.

Critical for my practice

This is very disappointing news. Revaluation is a basic function on most accounting software and should be added to the roadmap as a priority!