Settings and activity
4 results found
-
25 votes
An error occurred while saving the comment 
Tessa Beattie
supported this idea
·
-
8 votesTessa Beattie
supported this idea
·
-
277 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…
Tessa Beattie
supported this idea
·
-
107 votesTessa Beattie
supported this idea
·
It would be extremely valuable to have the ability to manually adjust tax estimates for prior liabilities or amended returns. We are currently facing the same issue with amended tax returns. Not being able to reflect the adjustment in the estimate creates confusion and adds unnecessary admin time providing a separate reconciliation. This is something MYOB can do, it would be a great improvement to see the same in Xero Tax.