Roll back depreciation on registered assets

If you have the Adviser user role, roll back depreciation on registered assets you've previously depreciated in Xero.

What happens when you roll back depreciation

  • Registered assets remain registered.
  • Disposed assets remain disposed.
  • Deleted assets remain deleted.

Non-pooled assets

When you roll back depreciation, all depreciation reverses for the period you selected.

Pooled assets

When you roll back depreciation, Xero manages pooled assets differently depending on whether the assets were added or transferred to the pool.

In all cases:

  • Book depreciation reverses for the period you selected.
  • Pool depreciation is only reversed if the rollback period includes a year end.

If you transferred a registered asset into the pool and the rollback date is on or before the transfer date, the asset is removed from the pool and reverts to its tax value at the rollback date.

Limitations on rolling back depreciation

  • You can't roll back depreciation to a date earlier than the Start Date you selected for fixed assets in Xero.
  • You can't roll back depreciation if you've set a lock date for any part of the period you intend to roll back.

Roll back depreciation on registered assets

  1. On the Accounts menu, click Fixed Assets.
  2. Click Run Depreciation.
  3. Click Rollback Depreciation.

    Image showing Rollback Depreciation button.

  4. Select the date to roll back to.
  5. Click Save.
  6. Click Approve.

You can view rollback details in the History & Notes Activity and the Journal report (book depreciation only).