Add fixed assets through transactions in Xero

When you buy an asset using a bill, spend money transaction or expense claim, and the purchase is allocated to a fixed asset account, Xero creates a draft fixed asset.

Manual journals coded to fixed asset accounts don't create draft fixed assets.

Important information about adding fixed assets through transactions

  • You can delete the draft asset from fixed assets if you don't want to register and depreciate it.
  • Editing or deleting the asset within the register has no effect on the original transaction.
  • Where the quantity is more than 9 in a single line on a bill, spend money transaction or expense claim, Xero creates only one draft asset. To create individual draft assets, split the line item into multiple lines of no more than 9 items per line.
  • Register the asset if you want to start depreciating it in Xero.
  • View the original transaction by clicking the See original bill link.

Purchases (bills)

Adding a bill will create a draft fixed asset when:

  • The bill uses a fixed asset account.
  • You enter a description of the asset in the Description field.
  • The bill is approved.

Spend money transactions

Adding a spend money transaction will create a draft fixed asset when:

  • The transaction uses a fixed asset account.
  • You enter a description of the asset in the Description field.
  • The transaction is saved.

Expense claims

Submitting an expense claim will create a draft fixed asset when:

  • The expense is allocated to a fixed asset account.
  • You enter a description of the asset in the Description field.
  • The expense claim is approved.

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