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Fixed Assets - Negative fixed asset

Fixed Assets - ability to have a negative fixed asset for when an asset has devalued and the revaluation is therefore negative.

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Judy Watson shared this idea  ·   ·  Report…  ·  Admin →
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  • Lyn Birnie, Treasurer commented  ·   ·  Report

    The ability to have a changeable flag on fixed assets to indicate their being at cost or valuation would be good also.

  • Jude Horrell commented  ·   ·  Report

    Where accounts are being audited, the inability to have a negative revaluation is imperative. I am going to have to spend a great deal of time exporting reports to Excel and then making manual adjustments (which won't be reflected in Xero for the following year, so I will have to redo this each and every year). I just can't understand why there would be a function for positive revaluation but not a negative one.

  • Ian Orr commented  ·   ·  Report

    If a F-A is subject to a Valuation, that valuation may go down as well as up. A Negative F-A fixes this problem.

  • Jun Zhao commented  ·   ·  Report

    Ideally there should be a way to input Second Element of an asset - so Grants/Discounts received from assets purchase are recorded properly