Fixed asset register - Include rules for tax treatment of amortization where different to accounting treatment
Most companies have different treatment of accounting depreciation and tax allowances on the same assets. Having these setup and maintained in Xero would be a game changer.
Also: make FAR export dates sync up with regional settings - it's enormously frustrating having a FAR download in MM/DD/YYYY when one works in example DD/MM/YYYY
Kurt Heideman
shared this idea
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nishimoto sonkirven
commented
A Fixed Asset Register that includes rules for tax treatment of amortization—especially where it differs from accounting depreciation—can greatly streamline compliance and reporting. Many companies face challenges in managing separate depreciation schedules for tax and accounting purposes, often resulting in manual reconciliations. By setting up and maintaining these differences directly in Xero, businesses can automate calculations, reduce errors, and save time during audits or tax filing. This would be a game changer, much like how platforms such as Pikashow APK https://pikashowapks.app/ simplify OTT streaming by centralizing content access, making complex tasks more efficient and user-friendly.
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Nkateko Mathebula
commented
game changer indeed!!!!!!!!!!!