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Can you please remove the restriction that stops users from being able to add a negative item to the fixed asset schedule, currently to revalue a property we need to add a new "revaluation" asset on to the FAS, but with no ability to add a negative value - we cant adjust asset values for negative revaluations.

We need to revalue building assets upwards, which involves reversing the accumulated depreciation. There appears to be no facility to do this. Although we can fix the General Ledger, our asset reconciliation now has a permanent variance. Perhaps we should be able to export/import the correct asset details, to overwrite the accumulated depreciation and closing costs already recorded?

Currently cannot do a negative revaluation on the fixed asset schedule.
When revaluing Fixed Assets if they decrease in value this can only be done through the balance sheet as the fixed asset schedule does not allow an negative value to be entered.

There needs to be an ability to update registered assets so that we can add any improvements, revaluations or extra payments for assets that may have been upgraded over financial periods.

This should be a facility in any Fixed Assets Ledger.

Any database needs an adjustment facility unless very comprehensive design that caters for all possibilities. In this instance it may even be appropriate to add another asset that is linked to the first and allows negative and positive input. It should be able to replicate adjustments that are made in the ledgers for whatever reason

In the case of fixed assets need to be able to adjust:

cost - revaluations, which can be up and down
depreciation - would also need an adjustment facility as there could be a one-off adjustment to the depreciation; eg accelerated depreciation to reflect an impairment of the asset, which is not a cost adjustment

This is marked as critical because whilst it may only apply to a minority of the assets, not being able to record adjustments to those assets properly affects the integrity of the whole database

To be able to report assets at market, you need the ability to reval assets upwards and downwards.

Upwards can be faked with an additional asset however decrements are not possible as Xero doesn't allow negative assets.

Fiddling this value via opening wdv also doesn't seem to be possible.

Would appreciate if you can allow us to edit the asset value in Xero at a certain date to allow us to rebalance fixed asset register at year end with any stat adjustment journals from the annual accounts.