NZ Tax - IR3B Business Schedule with Fixed Asset Schedule
Given Xero has an IR3 Rental Schedule form and Home Office Work Papers why does the business schedule workpaper only have line by line capability and not a business schedule equivalent to IR's IR3B business schedule? Why is this helpful, it means we have the ability to put in front of the client not only the income and expenses relating to their small enterprise (i.e. usually don't warrant an accounting product) and provides traceability for fixed assets and depreciation claimed.
Justine Kennard (Practice Administrator)
shared this idea
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Kathryn Pinkerton
commented
Note the IRD form (attached) doesn't include an asset schedule and we are not asking for one - just the equivalent of the IRD form so client can easily see what has been included in their net self-employed income.
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Kathryn Pinkerton
commented
Totally agree that we should be able to add the equivalent of an IR3B schedule. We are fairly new to Xero and were surprised and disappointed to find this is not available (why would the IR3R be available but not the IR3B?)
The schedule would be used for very small clients that don't need a balance sheet or even an asset schedule, but the income and expenses making up the net profit or loss would then be included in the client's tax return details.
Please look at this with some urgency!
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Jason Hoseason
commented
It would be helpful if this were available
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Christine Mazany
commented
Would greatly assist with tracking fixed assets.
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Bruce Webster
commented
Would save a lot of extra xcel work outside of the return
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Emma Belk
commented
:)
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Josh Webster
commented
This would help compete against HNRY!!!!!!
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Ayla Chaney
commented
I think this should be available as well.
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Philippa Jarman
commented
I too would like this feature as its far more informative in information reporting and is required by some specific tax payers, rather than the IR10.
