72 results found
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New Fixed Assets - Access for AU organisations that use pooling
Ability for AU orgs that use pooling in Fixed Assets to access the new Fixed Assets experience and make use of features like being able to attach a file to an asset.
15 votes -
Fixed Assets - Add 3-year depreciation schedule for Small Business Corporations in South Africa
Small Business Corporations (SBC's) can, under certain circumstances, depreciate assets in a 3-year schedule as follows:
- 1st year: 50%
- 2nd year: 30%
- 3rd year: 20%
See the attached document, under 4.2.
Currently, this is not possible (I checked with Support).
I expect this to work within Xero, as it is a regular tax rule in South Africa.
Adding this schedule for South Africa would be extremely useful and important, as we now have to do the depreciation outside of Xero.
19 votes -
Fixed Assets - Delete wrongly created General Pool in Xero Blue
Looking for deleting wrongly created General Pool, which were created during the conversion of file to Xero Blue. Currently we can record an end date to the pool, but it doesn't stop the previous pools to stop appearing on the 'Run Depreciation' screen. No balances recorded, no movement at all.
5 votes -
Fixed Assets - Add location
Fixed assets - please add a field for location
3 votesHi Maresa, when you say you'd like to add Location would this be based on a Tracking category you've set up in the organisation? If so, you could add this when you create the original transaction(bill) the asset is raised from.
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VAT reconciliation - Show which VAT return transactions are submitted on
Like Sage I would like every item to have the VAT return Date and month it was recorded on attached to it and if/when it was adjusted which return the adjustment was submitted on as well.
19 votes -
Fixed assets - Pooling assets for NZ version
Fixed Assets - Tax Pooling Depreciation. Australia has a feature to put assets into pools and calculate depreciation. This would be very useful in NZ
5 votes -
Fixed Assets - Allow dates to be entered in any format
In most areas of xero you can enter dates in any format, however, in the 'new fixed assets' this errors unless its in the one format Xero accepts.
Please make the date fields similar to the other fields in Xero, allowing any format e.g. 1/1/24, 1.1.24, 1-1-24, 1 1 24, etc
3 votes -
US Integrate Invoicing with Invoice Processing Platform ipp.gov
Integrate invoicing with the US Govvernment Invoice Processing Platform, which covers nearly all invoicing of US Government Contracts, other than DoD and Intelligence Community. Right now, there’s only a manual entry process from a Xero generated invoice. https://www.ipp.gov/
1 voteAppreciate wanting a streamlined process for this. We'll track the interest in this through the idea here, and share if there are any plans made.
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Fixed Assets | Registering draft assets - Navigate back to Draft list
This is minor but annoying. I am working my way through a list of draft assets and when you register each asset Xero reverts to the registered list rather than returning to the draft list. This gets very tedious when you have a lot of draft assets!
Conversely when you are disposing of assets it reverts to the disposed assets list when it would be more efficient to revert to the registered assets list so I can dispose of the next asset.
4 votesAppreciate the feedback on the little things that would improve your experience when working with Fixed Assets. I've shared this back with our product team. We don't have any immediate plans but we'll track the interest and share if there's any change planned.
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Singapore Tax - Rework the Deemed Supplies tax code
In Singapore, deemed supplies include free samples given to customers at no charge. If input tax was claimed on the purchase of these sample items, businesses are required to account for output tax when giving out the samples. Currently, Xero does not allow sales invoices to be issued at a zero value. As a result, if a sample is given at no charge, the sales invoice does not register any tax code. The workaround is to input a sales value and create a negative line item to ensure the invoice registers the tax code.
The second issue arises when using…
1 vote -
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.
20 votes -
Fixed assets: Capital Works Depreciation Schedules
We need more flexibility in depreciation schedules to add Second Hand Capital Works Assets for rental properties.
When you buy a second hand rental property, the capital allowances available under Div 43 needs to be calculated on the original cost, however, the total amount remaining to be claimed will be less than this original amount. Fixed Assets in Xero does not currently allow for this. We need to calculate the depreciation on a straight line basis based on the original cost, not what we paid for it and we need to be able to include an opening written down value,…8 votes -
Sales Tax - Support negative tax rates
Withholding tax (WHT) in Saudi Arabia (-5%). Allow option to add negative tax rates in Xero.
1 vote -
Fixed Assets: Auto Calculate the Depreciation Rate from the Effective Life
At the moment Xero doesn't auto calculate the depreciation rate from the effective life. This means when we run the depreciation report the rate column shows up as blank if we've entered the effective life into the asset register rather than the rate. We should be able to enter the effective life and Xero auto calculates the depreciation rate for the depreciation report.
2 votesThanks for sharing your needs for Fixed Assets, here. While we appreciate it could be confusing to see a blank percentage in the rate column, we want to upfront that this isn't something we have plans of implementing in the near term.
As you may already be across if this is something you do need to track, the best option right now would be to export the Depreciation Schedule report and make adjustments as required outside of Xero in Excel or Google sheets. I know this isn't the ideal solution and if any change is planned we'll let you know here.
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Fixed asset - Increase limit of 500
existing threshold for Xero fixed assets is 500 - increase this to 5,000 to avoid having to use a separate app (which are clunky / expensive) to manage fixed assets
17 votes -
Fixed Assets | Depreciation - Update depreciation rate
Would like to add the feature to change the depreciation rate of an asset (not retrospectively) for the book value. would assist in writing off remaining balance of assets and the like. (Xero AU)
8 votes -
Fixed Assets - Option to Show Depreciation Expense in Cash Basis Reports
This is an ongoing issue for a lot of accountants, as seen in the forums: https://central.xero.com/s/question/0D51N00005Ok9naSAB/regarding-depreciation-not-appearing-on-cash-basis-reports
151 votes -
Fixed Assets - Partial or Bulk Sale
Enable partial sale of assets - allows one to dispose of assets that have been added as one transaction.
Enable bulk sale of assets - allowing one to select all assets involved within a sale to be sold for one purchase price i.e. sale of a fitout of a Hairdresser, over the years they had purchased numerous items and completed numerous renovations.
20 votes -
US tax - Trust accounting for law firms
Our law firm has a critical need for an understandable method for handling trust transactions.
3 votes -
Fixed Assets - Add accumulated depreciation to new assets
When a revalued asset is created (e.g. roads in a local government authority), it is essential that a revalued accumulated depreciation is also able to be added at the same time. This is a basic accounting requirement for councils when they revalue their various infrastructure assets.
11 votes
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