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Reports & tax: Fixed Assets

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Fixed Assets - Partial allocation of depreciation for business and private use

To have the ability to account for depreciation on both business and private portions of an asset.

Purpose: Save time for users to get the correct figures rather than going through manual process.

277 votes

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AdminXero Team (Admin, Xero) shared this idea  ·   ·  Report…  ·  Admin →
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Not in pipeline  ·  AdminKelly Munro (Community Manager, Xero) responded  · 

Hi team, we’ve seen a lot of support for this idea, and acknowledge why you’d like a simple way of reflecting if part of a fixed asset is used privately.

As Xero doesn’t currently offer a built-in way to allocate depreciation between business and private use I wanted to re-highlight from our last update how this can be recorded -

Currently you could post manual journals to record the private use apportionment of a Fixed Assets depreciation.

If you're using Fixed Assets in NZ it's possible to set up an asset and apportion a % for private use. However, it's important to note that it's not possible to apportion the private use depreciation of an asset prior to using Xero. In this case when you sell the asset a manual journal may be needed to correctly state the private use.

At this time, we want to be upfront that our product team doesn't currently have plans to build this functionality.

We’ll continue to track interest here, and revisit if priorities shift.

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  • Chris Mouradjallian commented  ·   ·  Report

    Please add this function as soon as possible, especially if its available in NZ.

  • John Tsoutras commented  ·   ·  Report

    I cant understand how this function is not active in a Xero blue file, yet its active on Xero tax!

    Xero development team, need to step up your game ASAP!!!

  • James Moore commented  ·   ·  Report

    Enable the option to include a private use % when adding an asset to the fixed asset register

  • Suzanne McKean commented  ·   ·  Report

    Critical feature for:

    - saving time
    - keeping a proper audit trail
    - avoid errors

  • Reetika Gupta commented  ·   ·  Report

    So strange that this feature is not available in Australia. This feature is so basic and so important. Please make this available asap.

  • Anthony Hughes commented  ·   ·  Report

    I can't beleive this is not a function, especially when you have already implemented it in othe regions.

  • Paul Howlett commented  ·   ·  Report

    @Dale They were able to implement it within Xero Tax, but still not within Xero Blue!!

  • Dale Dunbar commented  ·   ·  Report

    I believe this has to be a feature in XERO, why does the NZ version have it and Australia doesn't????

  • Zoe Mahlstedt commented  ·   ·  Report

    I cannot believe it is 2024 and Xero still does not have this capability..

  • Linda Kaye commented  ·   ·  Report

    I cannot believe that this is not already a feature of Xero - it is very disappointing that it is not - means extra work for the accountant.

  • Kerry Turnbull commented  ·   ·  Report

    I am an accountant and this feature is a must....I can't believe it is not already written into the software. Xero you need to fix this!!!

  • Belinda Ebert commented  ·   ·  Report

    Necessary function to keep track of clients accounting and taxation.

  • Tracey Woods commented  ·   ·  Report

    Definitely needs to be available in Australian version ASAP.

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