Depreciation - Manual adjustment
It would be really useful if you could manually adjust depreciation on an asset by asset basis, where depreciation has been changed outside of the Xero product. This could be where depreciation has been run within the product for management accounts, but been adjusted by another accountant outside of the product when running the year-end. The manual adjustment would be great for aligning the submitted accounts with the accounts in Xero.
Kayleigh Holloway
shared this idea
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David Du Toit
commented
Audit adjustments must be made and it is critical to make these adjustments in the Asset Register. This function is available in other regions but not ZAR.
See here how to in other regions:
To adjust accumulated depreciation on the fixed asset register in Xero, you can follow these steps:
1. In the Accounting menu, select Advanced, then click Fixed assets.
2. Click on the asset for which you want to adjust the accumulated depreciation.
3. In the asset details, click on the "Depreciation" tab.
4. Under the "Accumulated Depreciation" section, click on the "Adjust" button.
5. Enter the adjustment amount and the adjustment date.
6. Click on the "Save" button to apply the adjustment.
By following these steps, you can adjust the accumulated depreciation on the fixed asset register in Xero.