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Fixed Asset - Partial disposal of an asset

Would be good to have a function within fixed asset register that allows to part dispose of an asset and to revalue.

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Abbie Bennett shared this idea  ·   ·  Report…  ·  Admin →
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Accepted  ·  AdminKelly Munro (Community Manager, Xero) responded  · 

Hey team, thanks for all your input on partial asset disposal.

We understand that manually managing parts of an asset can be time-consuming. While we don't have plans at this time to develop a built-in feature, your feedback's really helpful in showing us where things could improve.

For now, manual methods to calculate depreciation and record journal entries to keep things accurate would be the best option.

However, this is a feature that we'd like to revisit as we plan our future roadmaps, and will be happy to share if there is any traction around this. Please keep sharing this idea with any colleagues you feel could benefit from this too.

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  • Jo Focroul commented  ·   ·  Report

    I vote for this one too.
    We have inherited another accountants fixed asset register and have put 2 assets together - but they had the depreciation rate incorrect so it has been changed to the correct one when it was detected - this is even more detailed.
    Thinking split lines to the year it was the old one, lock period and then change rate to correct one??

  • Melessa Henderson commented  ·   ·  Report

    Another vote for this feature please - I have issue at the moment where I need to partially dispose of fixed assets. Seems a long fix at the moment, to add/edit new assets.

  • Adelaide Huie commented  ·   ·  Report

    I highly recommend Xero to create the partial disposal function under the Fixed Assets, this will certainly streamlining the maintenance of the Fixed Assets Register.

  • Kim Brodie commented  ·   ·  Report

    An asset list was entered to Xero when we took over the company which included 2 x items as one entry. This feature would have been good as some assets were disposed of immediately after we took over.

  • Elliot Beath commented  ·   ·  Report

    I also have scenarios where an asset split function would be helpful.

    Deleting the asset and creating new assets opens up the possibility that the previous year's data is altered.

  • Erin Jacob commented  ·   ·  Report

    This request has been on going since at least 2017! When is this being looked at ?? Other accounting software has this feature, and has done for years.

  • Jo Russell commented  ·   ·  Report

    I've inherited an asset register where assets are listed together, e.g. 2 x iPads are listed as a single asset. One of these needs to be disposed of, so either the ability to split the asset then dispose or partial disposal of an asset would make this easier.

  • AdminXero Team (Admin, Xero) commented  ·   ·  Report

    Ability to have partial sale of an asset in Xero.

    Purpose: Because the current workaround (dispose of the asset and create 2 new assets) takes time. And this feature will easily help the workflow.

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