Fixed Assets - Allow Custom values in depreciation schedule e.g. 50%, 30%, 20%
Please update depreciation schedule to allow for custom percentages per year, for small business in SA it is allowed to depreciate 50% / 30% / 20% over three years but there is no viable way to implement currently.
Wynand Schoeman
shared this idea
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Edmund Lodewijks
commented
Let's hope that his will get picked up soon!
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Wynand Schoeman
commented
I have no idea how to change:) Might be best to create a new one
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Edmund Lodewijks
commented
Instead of allowing custom values for depreciation, it might be better to request the specific 3-year 50/30/20 depreciation schedule. That would be a LOT easier to implement than custom schedules. Could you please change the feature request? Otherwise I will start a new one, thinking that it would have a better chance of being accepted if it is more easily implementable. Thank you.
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Edmund Lodewijks
commented
Yes please, this is allowed by SARS (see section 4.2 of the attached document from SARS, referring to section 12E(1A) of the Tax Act of South Africa.
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Anneke Du Plessis
commented
For a lot of business in South Africa especially small business corporations (and farmers) which is the Xero market they qualify for the section 12B depreciation rates of 50/30/20% for three years. Therefor this must be a feature and option available on the Fixed asset register module. Please can you look to add this to Xero. Thank you.
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Eytan Aginsky
commented
Please update this issue on Xero,
it's important when I'm operating a business full of assets but I now have to individually depreciate them, this one one of the drawing cards to xero, the automatic depreciation
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Paul Richardson
commented
Please add this feature, as our depreciation schedules need to coincide with South Africa's tax collection agency (SARS).
