Settings and activity
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38 votes
Hi team, we really appreciate everyone that got involved in the teams research late last year. Appreciate it's been sometime since our last engagement here, but I'd like to share that this is still a feature our teams are investigating a solution for and we expect to be able to share further news if we can progress in the next few months. I'll be back again with more of an update. Thanks!
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Sandra Polotnianka
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50 votesSandra Polotnianka
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279 votes
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…
An error occurred while saving the comment Sandra Polotnianka
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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.Sandra Polotnianka
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144 votesSandra Polotnianka
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We understand that software updates and improvements are a continuous effort, and we greatly appreciate the work that goes into enhancing the Xero platform. However, these seemingly minor issues have a significant impact on our ability to prepare our financial reports efficiently.
We kindly request that you consider reviewing this issue and exploring a solution that prevents the removal of date field codes when making layout edits. This adjustment would greatly contribute to streamlining our workflow and maintaining the integrity of our reports.
As a major accounting software provider, we believe that addressing such concerns helps demonstrate your commitment to supporting your users in their financial reporting endeavors. Our organization, along with many others, relies on Xero to streamline our accounting processes, and we believe that this adjustment could significantly enhance our experience with your platform.