Fixed Asset - Partial disposal of an asset
Would be good to have a function within fixed asset register that allows to part dispose of an asset and to revalue.
Hi everyone, thanks for sharing your support for part disposal of Fixed Assets in Xero. Being transparent - current work for the team requires focus on upgrades to Fixed Asset technology.
However, we’re thinking of what comes next and partial disposal of an asset figures strongly in this. Please continue to detail your particular use cases here in Product Ideas.
As we continue forming the future of Fixed Assets in Xero insights from Product Ideas here will feed into the team's plans.
Chris Whippy commented
Agree, very surprised this still isn't a feature given how long Xero has been around.
Julie Thornton commented
Agree that this needs to be added as a feature
Our client has an asset for 2 phones added in 2020 - now 1 has been disposed.
Xero advise to edit a locked period which is time consuming and not ideal!!!
Jo Focroul commented
I vote for this one too.
We have inherited another accountants fixed asset register and have put 2 assets together - but they had the depreciation rate incorrect so it has been changed to the correct one when it was detected - this is even more detailed.
Thinking split lines to the year it was the old one, lock period and then change rate to correct one??
Melessa Henderson commented
Another vote for this feature please - I have issue at the moment where I need to partially dispose of fixed assets. Seems a long fix at the moment, to add/edit new assets.
Adelaide Huie commented
I highly recommend Xero to create the partial disposal function under the Fixed Assets, this will certainly streamlining the maintenance of the Fixed Assets Register.
Kim Brodie commented
An asset list was entered to Xero when we took over the company which included 2 x items as one entry. This feature would have been good as some assets were disposed of immediately after we took over.
Elliot Beath commented
I also have scenarios where an asset split function would be helpful.
Deleting the asset and creating new assets opens up the possibility that the previous year's data is altered.
Erin Jacob commented
This request has been on going since at least 2017! When is this being looked at ?? Other accounting software has this feature, and has done for years.
Jo Russell commented
I've inherited an asset register where assets are listed together, e.g. 2 x iPads are listed as a single asset. One of these needs to be disposed of, so either the ability to split the asset then dispose or partial disposal of an asset would make this easier.
AdminXero Team (Admin, Xero) commented
Ability to have partial sale of an asset in Xero.
Purpose: Because the current workaround (dispose of the asset and create 2 new assets) takes time. And this feature will easily help the workflow.