Settings and activity
4 results found
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185 votes
Amelia Marshall
supported this idea
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21 votes
Thanks for the continued support for this idea, community. Currently NZ organisations can change an asset’s depreciation rate for future periods by adding a new adjustment period in Fixed Assets, without altering previous depreciation journals. See Add, edit or delete depreciation settings for guidance.
We recognise this remains an opportunity for AU organisations, where this capability isn’t currently available, and we'll continue to monitor interest in extending this to other markets. We'll share if there are any plans made around this, here.
Amelia Marshall
shared this idea
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295 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…
Amelia Marshall
supported this idea
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158 votes
Hi everyone, we appreciate all the attention and interest this idea has received. This has not gone unnoticed and our product team understand the importance of these estimates for practices.
There is a bit of complexity involved in being able to achieve this, but we'd like you to know this is something our teams are looking into.
As soon as we have any updates we'll be sure to share with you all through this idea. Thanks 🕵️
Amelia Marshall
supported this idea
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