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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.

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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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  • Rebecca Koppers commented  ·   ·  Report

    Agree that this is an essential upgrade that should be in the Australian version

  • Drew Delamont commented  ·   ·  Report

    An option or inbuilt calculator within the fixed asset register settings to categorise and easily reconcile assets with private use so that they depreciate correctly, with further resources to calculate compounding or fluctuating rates of private use over multiple years on the same asset.

  • Kim Turton commented  ·   ·  Report

    AU - Depreciation to be able to enter private use percentages and appropriate journals entries calculated and transferred to ledger

  • Kirsty O'Gorman commented  ·   ·  Report

    All other accounting software has this functionality. It is critical and many accountants would need use of this on a regular basis.

  • Andrew Dick commented  ·   ·  Report

    this is very important for automating accounting function.
    i am surprised that it is not in the Australian software

  • Alanah Beard commented  ·   ·  Report

    Enable private use allocation when adding assets into fixed assets. Currently this is only available for NZ users, can this be made available to Australian Users.

  • Sandra Polotnianka commented  ·   ·  Report

    Not only should there be a function to allow for private use and business use but also the cost limit of motor vehicles is important from an accountants persepctive.
    The derpecaition schedule is very basic compared to other software.

  • Nina Totzek commented  ·   ·  Report

    It should be an easy target. I need this daily.

  • Matthew Hazlewood commented  ·   ·  Report

    This functionality is required for correct depreciation and tracking for balancing charge calculations on disposal.

  • Gregory Chaimandos commented  ·   ·  Report

    We are in 2022 and still no feature of having Private Use % in Fixed Asset register in Xero.

    Xero Customer support advised it is functional in New Zealand however not other counties? Seriously? I am based in Australia and expected that this would be a feature already in the Fixed Asset register. Clearly, Xero have the algorithm set up for it to work in New Zealand. Very disappointed.

  • April Dale commented  ·   ·  Report

    Xero functionality - please can you allow a partial sale of fixed assets in the depreciation schedule.

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