Transfer an existing registered fixed asset to a pool

If you have the Adviser user role, transfer an existing registered fixed asset to a pool for tax reporting purposes.

Use this procedure instead to add a fixed asset purchased before your start date in Xero to a pool.

About transferring assets to a pool

  • You can only transfer a fixed asset to a pool in the asset's second or later year of tax depreciation in Xero.
  • You can only transfer assets to a pool as at the beginning of a financial year.
  • You may need to run depreciation before you can make the transfer. If you've already depreciated your asset past the transfer date, Xero will roll back depreciation for you.
  • Xero calculates depreciation on assets transferred to a pool at full rate from the date of transfer.
  • Transferring a registered asset to a pool will not affect its book value.

Before you start

  • Create the pool you want to transfer your registered fixed asset to, if it doesn't already exist.
  • Check you've run depreciation up to or beyond the date you want to transfer the asset to the pool.

Transfer the asset

  1. On the Accounts menu, click Fixed Assets.
  2. On the Registered tab, click the Asset Number of the asset you want to transfer, to open the asset's details.
  3. Click Options, and select Transfer to Pool.

    Image showing option list.

  4. If you have more than one pool, select the Pool for the asset.
  5. Select the Transfer Date.
  6. Enter the Pooled Amount.

    Image showing transfer options.

  7. Click Save.

Xero automatically rolls back depreciation if required

If you've previously run depreciation past the transfer date, Xero automatically rolls back depreciation on the asset to the day before the transfer date. After you transfer the asset, you can see the rollback details in the History & Notes for the asset.

Image showing note about depreciation rollback.

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