Edit a registered fixed asset

If you have the Adviser user role, you can make changes to a registered fixed asset. In some situations, Xero will roll back depreciation to the asset's depreciation start date and recalculate it.

Which fields affect depreciation if you change them?

Changing any of these fields on a registered asset affects depreciation in Xero.

  • Purchase Price
  • Asset Type
  • Any field in Book Value
If you make a change to a registered fixed asset which affects its opening value in Xero, you'll need to re-enter its opening balance in Xero.

Changing some fields triggers a depreciation rollback and recalculation

If you change any of the fields listed above, except the Rate field, Xero will roll back depreciation to the depreciation start date and calculate new depreciation for the asset.

This will affect your reports since the asset's depreciation start date.

Changing the Rate field

Xero handles a change in the Rate field differently depending on whether you change another field at the same time.

Changing only the Rate field at the start of a financial year

If you change only the Rate field at the start of a financial year, Xero calculates depreciation based on the new rate from the beginning of that financial year. Xero does not recalculate depreciation for prior financial years.

Changing only the Rate field part way through a financial year to a rate that's not 0%

If you change only the Rate field part way through a financial year to a rate that's not 0%, Xero recalculates depreciation based on the new rate for the full financial year. The next time you run depreciation in Xero:

  • If the new depreciation amount for the year to date is greater than the depreciation already posted, Xero posts an adjustment amount. Xero continues posting depreciation calculated at the new rate for subsequent periods.
  • If the new depreciation amount for the year to date is less than depreciation already posted, Xero doesn't post any depreciation. The next time depreciation is run, Xero will perform the calculation again and post an adjustment amount if required. Xero continues posting depreciation calculated at the new rate for subsequent periods.

Xero does not recalculate depreciation for prior financial years.

Changing only the Rate field part way through a financial year to 0%

If you change the depreciation rate to 0% part way through the financial year, Xero stops calculating depreciation for the asset from that date. Xero doesn't roll back depreciation for the earlier part of the financial year.

Changing the Rate field and another field

If you change the Rate field and another field listed in the section Which fields affect depreciation if you change them?, Xero will roll back depreciation to the depreciation start date and calculate new depreciation for the asset.

This will affect your reports since the asset's depreciation start date.

Adding or editing tracking

If you've depreciated an asset before adding a tracking option, the depreciation journals won't update.

If you want to apply this new tracking option to your existing depreciation journals, either:

Edit a registered fixed asset

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

    Options  button, click Edit.

  5. Make your changes.
  6. Click Save.
  7. If you made a change affecting depreciation, click Continue.

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