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Fixed Assets - Run depreciation from 6th to 5th of a month

Be able to run depreciation from 6th to 5th of a month for businesses that have a financial year end of 5 April.
Whilst you can do this for a 1st year of trading, we have found that you are unable to run it for any year after and after checking with xero, you are unable to run depreciation if the fixed asset start date is not the 1st of the month.

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Tanya Thornley shared this idea  ·   ·  Report…  ·  Admin →
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  • Angela Parker commented  ·   ·  Report

    this will be a common issue as business need to prepare accounts mid-month for various reasons (restructures, share sale/redemption, valuation of estate interest, etc).

  • Eunan Kerlin commented  ·   ·  Report

    HMRC are forcing everyone to a 5 April year end and it looks like Xero depreciation is not ready for this.

  • Madhura C commented  ·   ·  Report

    I support the idea. Rather there should be flexibility of putting any dates as your financial year.

  • James Patterson commented  ·   ·  Report

    Shouldnt be hard should it - theres thousands of uk business im sure that operate 6th to the 5th

    Come on guys get it sorted - Yes i suppose i could move my year end to suit you - but i shouldnt have to should i.

  • Raymond Rainbird commented  ·   ·  Report

    I support this idea. We have just started using Xero for my husbands business and have run into the same issue. HIs year end is 5 Apr and I have now been told by Xero that for year 2 of depreciation I can no longer use the Fixed Asset Module to run depreciation in Xero.

    This was a bit of a shock to me to be honest and will now create more work for me to do manual journals. To be honest I chose Xero to make my life easier but it seems once you start using Xero there is a lot of hurdles that still need to be overcome and to be developed for Xero to truly compete with other more established accounting platforms who cater for all eventualities.

  • Gemma Preston commented  ·   ·  Report

    This is a very important feature that Xero should cater for especially as a lot of our client's year ends are 5 April. Look forward to this being included within Xero hopefully asap.