Efficient Accounting with Xero

10

Managing Fixed Assets in Xero

Businesses purchase goods and equipment every day. The majority of these purchases are regular expenses and are handled as shown in previous chapters throughout the book. Then, there are capital assets, or what we will refer to as fixed assets. These assets generally have a useful life of over 1 year and cost $2,500 or more. Here, we will show you how to handle the fixed asset process in Xero for a business, which includes the addition and disposal of assets as well as running depreciation. The understanding of the processing of assets, as well as the topics of bank transactions and bills, which we covered in previous chapters of this book, ensure that you have the knowledge to handle all of a business’s expenditures. ...