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Fixed Assets - Revaluation

Ability to revalue an asset in Xero.

Purpose: Because some assets need to be re-evaluate. Especially for businesses that holds property with its value increasing

101 votes

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AdminXero Team (Admin, Xero) shared this idea  ·   ·  Report…  ·  Admin →
not planned  ·  AdminKelly Munro (Community Manager, Xero) responded  · 

Hi everyone, we wanted to loop back on the outcome of the survey we did. Our product team have used this feedback, and looked into building this feature but at this stage want to confirm that this work is not currently on our roadmap.

As a global business with many requests for our different regions and needs, we are not able to build everything at once. 

We appreciate this is not the news you’d like around this but do want to be upfront with you all here to help you make the best decisions as needed for your businesses. If things change, we’ll communicate this with you through the idea here.

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  • Monique Bertazzon commented  ·   ·  Report

    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.

  • Jo Wheeler commented  ·   ·  Report

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

  • Kyle Phillips commented  ·   ·  Report

    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

  • Jennifer Mundell commented  ·   ·  Report

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

  • Maura Coumbe commented  ·   ·  Report

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

  • Thurairajah Shanmugapalan commented  ·   ·  Report

    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.

  • Robyn Gallagher commented  ·   ·  Report

    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.

  • Richard Cartwright commented  ·   ·  Report

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

  • Dan Gee commented  ·   ·  Report

    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......

  • Andrii Ivanyshchuk commented  ·   ·  Report

    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.

  • Mohammad AlKhateeb commented  ·   ·  Report

    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.

  • Nicki Shand commented  ·   ·  Report

    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.

  • Mandy Ross commented  ·   ·  Report

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

  • David Atkins commented  ·   ·  Report

    Yes! Revaluation of properties is very common and critical to include as a feature. Also, farmers often sell a portion of their land, so disposal of part of an asset forms part of this

  • Michael Stace commented  ·   ·  Report

    Valuation on property blocks is given bi-annually by the government in New Zealand. It is IMPERATIVE that we are able to ENTER the new and current valuation into XERO so that it appears on our ledgers and especially on the PROFIT/LOSS Statement and BALANCE SHEET.

  • Chrisna du Preez commented  ·   ·  Report

    Essential. Would be helpful to have more flexibility.
    Auditors may revalue buildings at year-end and adjust accumulated depreciation accordingly. I have now decided to remove the relevant property from Xero's asset register and continue manual depreciation schedules.

  • Audrey Connelly commented  ·   ·  Report

    this would be a good enhancement , and obviously has been asked for many times, over many years
    negative figures for when property values decrease and the ability to group assets are common sense. can we get some action on this please

  • Tom Pivac commented  ·   ·  Report

    Very good idea. We currently have a building being renovated and a bunch of different invoices for it. We have a bunch of fixed assets titled "value adjustment of workshop".
    It would be so much easier if we could simply add the bill to the asset, increasing the fixed assets value and continue to depreciate based off the new asset value.

  • Luke Irving commented  ·   ·  Report

    This is an essential function, currently the fixed asset register is almost useless for investment property companies - if this feature were added it would stop businesses having to rely on spreadsheets for this purpose

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