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.
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Lorraine Laplante commented
Agreed, this is a basic critical feature that should be part of any accounting program, this needs addressing. This causes imbalance in fixed asset module if people start using manual entries to fix costs and accumulated depreciation to avoid the removal of complete asset to add back in partial (which makes no accounting sense)
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Evelyn Burns commented
Part disposal of assets is a critical feature that should be added. As an accountant, I was a bit surprised that this is not currently available as it is common for assets to be partially disposed in my experience.
The number of comments on this page alone suggest this would be a highly valued functionality.
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Gillian Peoples commented
As per earlier comments. Partial disposal of a fixed asset needed.
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Henrik Maier commented
We also came across this issue as we purchased a set of furniture and now have disposed of some tables and shelves. There is no way to do this in Xero atm.
Looks like we have to run a separate Spreadsheet to manage our fixed assets rather using Xero. -
Mark Lee commented
Any update on this as this is needed by many businesses or the revalue part
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Kim Hamill commented
This is a critical function that must be required by a multitude of businesses. Please advise of an update. I have also inherited a client where multiple assets are grouped together. It's not uncommon to purchase a group of assets, computers for example, and then have to dispose of one or two as they no longer work..
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Tania Newcombe commented
Is there any update on when this feature will be made available? I have inherited a fixed assets register in Xero with multiple assets grouped together. It is not ideal to have to delete assets and then re-add them in prior locked periods
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John Dent commented
As well as partial disposals it would be ideal to be able to incrementally add to to asset that is built/acquired in more than one financial year
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Kelvin Lee commented
Hi Xero, will this feature be included with the increased price in July 2024? The future of Fixed Assets in Xero, as seen from Product Ideas, seems very gloomy.
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Libby Bourke commented
Really need this asap. We have moved our business and got rid of quite a few assets but unfortunately some are partial sales and I can't process these in Xero so our fixed asset register is incorrect now.
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Mel Daly commented
Please can you add a quantity field when adding and disposing assets so you can partially dispose. Much needed feature.
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Georjia McLeod commented
Would be great to have this feature available soon
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Michael Hanes commented
Please kindly add a partial disposal of fixed assets. Thanks
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Julie Copland commented
Hi Xero, is there any update on this? The last update was 18 months ago. Nearly 200 people have gone out of their way to vote for this and comment.
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Carissa Dueck Warner commented
Another request for a partial disposal of assets feature to be added. This seems to be a huge demand, and is available in other systems, so we know the capability exists. Any upcoming changes or upgrades to the Fixed Asset Register in Xero should definitely include this.
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Tracey Dovey commented
Please prioritise partial disposals in fixed assets!
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Winston Tan commented
Yes very important to have
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Jennifer Foster commented
This really needs to be addressed. I have stopped using the FAR in Xero because of this issue. We have a lot of b/f main pool balances where we don't have the full asset breakdown, particularly for farm accounts. If an asset is sold and it is part of the b/f pool we cant do this in Xero without a lot of fiddling and journals, which clearly takes too long for little benefit
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Chris Whippy commented
Xero response was over a year ago. Please can you provide an update. This is basic functionality that needs to be implemented.
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Jennesa Chin commented
Hope this feature will be up soon! this request has been flagged up for years. it's really troublesome when there are partial disposal transactions occurred.