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30 votes
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Joseph Ignatious
supported this idea
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283 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…
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Joseph Ignatious
commented
Hi,
It will reduce time & mistake if we can enter private usage % which we use in other accounting softwares.
Regards
Joseph Ignatious
Joseph Ignatious
supported this idea
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1. Tax custom cover letter should have salutation option for the client. Without salutation it looks unprofessional or harsh.
2. Trust tax cover letter is addressing to the trustee. If the trustee is a company, there should be an option to address the director of the trustee.