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  1. Fixed Assets - Revaluation

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    37 comments  ·  For small businesses » Accounting features  ·  Admin →
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    Not in pipeline  ·  AdminKelly Munro (Community Manager, Xero) responded

    Hi everyone, we wanted to loop back on the outcome of the survey we did. Our product team have used this feedback, and looked into building this feature but at this stage want to confirm that this work is not currently on our roadmap.

    As a global business with many requests for our different regions and needs, we are not able to build everything at once. 

    We appreciate this is not the news you’d like around this but do want to be upfront with you all here to help you make the best decisions as needed for your businesses. If things change, we’ll communicate this with you through the idea here.

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    Luisa Nuttall MAAT AATQB commented  · 

    Hello,

    I am preparing a set of accounts which includes investment property which requires fair value adjustments to account for the change in value. When I have dealt with this in previous accounting software there have been codes in the chart of accounts for a separate revaluation reserve account where the change in value is posted to as well as in the investment property value code and change in value on the P&L.

    So on the statement of change in equity it shows the profit and loss reserve and a revaluation reserve.

    According to Xero Support, Xero doesn't have any short-term plans to introduce a revaluation functionality in fixed assets which is very disappointing. More and more landlords now have properties in limited companies and therefore this function is quite important.
    Has anyone else experienced this? Do you require the function?

    Luisa Nuttall MAAT AATQB supported this idea  ·