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87 votes
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Tara Brace
supported this idea
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236 votes
Hi community, we're thankful for all your support and letting us know the importance of this idea to you in appropriately recording Fixed Assets in Xero.
As many will have experienced we've launched a new version of Fixed Assets to most regions with just a portion of AU left to receive this new experience. There's been lots of work from the team to develop this version all built on updated technology that'll enable growth in this space, overtime.
Currently, though we've done some initial discovery of what'd be required to build the capability to proportion assets depreciation for business and private use in all regions, this hasn't been currently planned for the short term.
For the time being, we'd recommend posting 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…
Tara Brace
supported this idea
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152 votesTara Brace
supported this idea
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131 votes
Appreciate the traction this idea's gained - Thanks for your support, everyone.
Our Fixed Asset product team are working on upgrades to Fixed Assets platform and updating technology - Read more on this broader work on Xero Central
We understand how having an automated control to recognise and apply a write-off for general pooled assets where the balance is beneath the threshold would be useful, this is not in our roadmap right now.
That said, they have a close eye on ideas for Fixed Assets for when the time's right - we'll share any change on the idea, here.
Tara Brace
supported this idea
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An error occurred while saving the comment Tara Brace
commented
This is critical to accuracy of tax depreciation reports.
This is really important and would save so much time from a review perspective, as well as improve the quality of the overall product.
Taking it one step further might be to have the workpapers automatically presented in the same order as the Notes to the accounts, with "Note totals" that can be expanded to see the detail $ balance of all accounts included in that note. ie if all Notes were "expanded", the workpaper home page would show the entire Trial Balance. Condensed, the Workpaper home page would reflect the $ per the Balance Sheet in Xero