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Please Xero, hear our voices. I believe other user clients will have the same issue. Please fix this functionality of being able to see the depreciation in a cash basis report, when the Fixed Asset is used.

Please can you fix this issue, it is vitally important as we spend considerable time setting up the fixed asset registers and having to do manual journals just for it to show in the cash financials is very frustrating. Not to mention having to reverse it out again.

This is a massive issue for my small runs-on-a-cash-basis business. Please fix urgently!

I totally support the option to report depreciation on cash reports.

It also follows that if you set your accounting method in Financial Settings to "Cash Basis" then all reports etc. should default to Cash e.g. the Profit and Loss report always defaults to Accrual.

My opening retained income is out as a result of this issue - please can we have the functionality.

This should be a functionality built in.

It's really unconvenience

Fix Deprecation to Display when Running on a Cash Basis. As noted on forums when on a cash basis after running deprecation on fixed assets the system does not reflect the accumulated deprecation or deprecation expense on P&L and Balance sheet. This is a huge issue and bug that needs to be resolved.

I am having to consider changing over to accrual based accounting with IRS, just because of this!

I don't understand why Xero is steering us into this depreciation function which accomplishes nothing for companies with cash basis reporting. You have wasted hours of my time and created enormous frustration. This is a basic accounting function. At least include a warning that entering fixed assets and running depreciation is going to fail.

The current Xero process of getting an cash basis income statement to report depreciation isn't acceptable. I still don't fully understand it and it's wasting more hours of my time. Please fix this.

Hi,

This would be very important to show correctly the profit on cash basis.

Thank you

It makes no sense to have the option to use the fixed asset function for cash basis companies. This is a very important routine for me to maintain control over the assets, but it gets in the way when processing the depreciation or selling the asset. As you can see in the attached file, as Xero does not account for depreciation or the sale of fixed assets for cash basis companies, it is necessary to make a manual journal, which theoretically "solves" the accounting problem. But if I need a managerial view based on Accrual basis, my balance sheet is completely distorted as it doubles the depreciation and/or sale of the asset.

Why don't you guys enable this tool on cash basis too?

This is critical to our firm, we need to run depreciation on a cash basis. I assume we, like many other accounting firms have a large SBE client base and the loss of productivity in having to manually reverse entries and repost is very frustrating.
Had we have known of this issue before converting from Sage Handisoft we perhaps would have had second thoughts.

This has been an ongoing need since 2014. Had a big argument with our CPA until I realized that the accrual reports show depreciation but the cash reports don't. What in the world...