Reset your tax reporting start date
Reset your tax reporting start date for fixed assets in Xero if you have the Adviser user role. This will remove all tax depreciation and pool settings. You'll need to re-enter tax depreciation and pool information for your assets.
How are fixed assets affected when you reset the tax reporting start date?
- Tax and pool information is removed from all assets and asset types.
- Tax and pool depreciation is removed.
- Pooled assets are removed from pools and revert to registered assets.
- Pools are deleted.
- Tax and pool reports are no longer available.
- There is no change to book depreciation.
Before you change your start date
Before you change your tax reporting start date, we recommend you run and publish these reports so you have a record of your tax reporting before the change.
Reset the start date for tax reporting
- On the Settings menu, select General Settings.
- Under the Features heading, click Fixed Assets.
- On the Tax Reporting tab, click Reset Tax.
- Click Reset.
- Turn on tax reporting for fixed assets