Settings and activity
2 results found
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71 votes
Hi everyone, thanks for your interest in this idea. Although we haven't enabled the option to exclude a balance sheet from sole trader accounts within Xero HQ we wanted to share this very exciting update with you. We recently released a direct import of the P&L from Xero onto the self-employment worksheet within Personal Tax, without the need to map the account codes and generate a set of sole trader accounts.
Previously we only supported an import from Sole Trader Accounts to Personal Tax which for some of our partners involved an extra step, particularly for smaller clients who typically only receive Income & Expenditure accounts. We hope by adding this functionality that you will be able to maximise the more flexible reporting capabilities within Xero to produce accounts for sole traders. This new feature is not simply an import either, it also supports cash-basis, allows you to manage the…
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James Shepherd
supported this idea
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19 votes
Hi everyone, Xero is committed to supporting the tracking of capital allowances claimed on capital expenditure. We understand how this will save with partners and remove manual tracking of written down allowances. At the moment we don't have confirmed date when this will be picked up, but as soon as we do we will let you know here.
An error occurred while saving the comment James Shepherd
commented
This is absolutely essential for any tax program worth its salt. Was incredibly surprised to find that it wasn't there when we made the switch from Iris. Needs to be implemented ASAP.
James Shepherd
supported this idea
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This should really have been done by now. It's such a simple thing to do and this comment is nearly two years old. Please enact asap.