Edit a pooled fixed asset

If you have the Adviser user role, you can make changes to a pooled fixed asset, including removing it from the pool.

About editing a pooled registered fixed asset

For any pooled asset, you can edit any field in the Details and Book Value sections according to the rules in Edit a registered fixed asset, not in a pool.

The way you make changes in the Tax Value section depends on whether you added a new asset directly to a pool, or transferred a registered asset into a pool.

If you change the Depreciation Method from Pooled to another option, the asset will be removed from the pool.

If you make a change to a pooled fixed asset and:

  • Depreciation for the pool is rolled back and recalculated, your tax reports since the roll back date will be affected.
  • It changes the asset's tax or book opening value in Xero, you may need to re-enter the asset's and pool's opening balances in Xero.

Edit a new asset added to a pool

If you added a new asset directly into a pool, and:

  • If pool depreciation has been run for one financial year from the pooled date, or hasn't been run, you can edit any field in the Tax Value section. When you save your changes:

    • Xero rolls back any pool depreciation since the asset's pooled date.
    • Xero recalculates depreciation using the new asset details.
    • The pool closing balance may change.
  • If pool depreciation has been run for more than one financial year after the asset was pooled, you need to roll back depreciation before you can edit the Tax Value section.

    Roll back depreciation to a date where Xero will only have to recalculate pool depreciation for one financial year.

Edit the asset

  1. On the Accounts menu, click Fixed Assets.
  2. Click the Registered tab.
  3. Click the asset number to open the asset details.
  4. Click Options, then select Edit.

    Image showing edit option for pooled asset.

  5. Make your changes.
  6. Click Save.
  7. (If your changes affect depreciation) Click Continue.

Edit a registered asset transferred into a pool

If you transferred an existing registered asset into a pool, you can't change any field in the Tax Value section of the asset unless you roll back depreciation. To make a change:

  1. Roll back depreciation to the pooled date. Xero removes the asset from the pool and it reverts to a registered non-pooled asset.
  2. Edit the asset
  3. (Optional) Transfer the asset to the pool
  4. Run depreciation