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Insight, news and updates from Alliott NZ Chartered Accountants, Auckland New Zealand. The views expressed here are the views of the author and should be discussed in further detail should an article be relevant to your individual circumstances.

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Xero & Fixed Assets

Written by Rose McNair on April 28th, 2017.      0 comments

Xero & Fixed Assets

consultant-584For those who have not had a go at entering Fixed Assets in Xero, this is how you can do it:

  1. First you go to the Settings Tab> General Settings>Features>Fixed Assets
  2. Enter the Asset Type> Choose the relevant fields like Asset Account>Accumulated Depreciation Account & Depreciation Expense Account.
  3. Complete the Depreciation requirements on the page and Click “SAVE”
  4. Click the Fixed Asset Tab
  5. This takes you to the Fixed Asset Register
  6. Complete the required details and “SAVE”, it’s all done.

You will then have entered and registered your Fixed Assets.

Points to note

  • You must enter the Asset Type first by following the process above
  • Then only can you use the Fixed Asset option under the Accounts Tab or in the Fixed Assets section under General Settings as explained before
  • If you have an extensive list of Fixed Assets, you can import this into the register by downloading the template which is under the Imports tab in Fixed Assets option.
  • You then add the List to the template and click Import.

If you do not have this option in your Xero file then check with the team at Alliotts as this might be a task for which we are responsible. We can always provide guidance on how to do it.

Contact our Xero Specialist, Rose, on 09 520 9200. As part of Alliotts' team in Auckland, Rose provides streamlined and efficient remote / offsite bookkeeping services to businesses who want to outsource their day-to-day processes such as Accounts Payable, Accounts Receivable, NZ GST, PAYE and Payroll.  

Or, to obtain an initial outline of how we can help your business, please complete the form Let's Talk About Your Business - we look forward to hearing from you.
Topics: fixed assets , Xero
 

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