Fixed asset management software for UK businesses
Want to ditch the spreadsheets? Xero’s asset-tracking software gives you a smooth digital system. Automatically calculate the depreciation of an asset using the straight line or declining-balance method. Or record your capital allowances in Xero Tax.
Manage your assets without the desk time
Xero’s asset-tracking software works in the cloud, so you can update your assets wherever you are that day.
Record and adjust your assets from anywhere
Just bought a van or other asset? Update your asset log – including for lots of items in bulk – on your phone or laptop.
Keep a clear digital record of your assets
Prepare for audits with all your info in one central place.
Collaborate in real time with your financial advisor
Collaborate with your accountant by reviewing the same data together in Xero’s cloud-based software.
Getting Xero made the whole business more efficient. It made accessing the accounts so much easier.
Xero lets Sidonie from Papersmiths focus on other parts of her business
88% of customers agree Xero helps improve financial visibility
*Source: survey conducted by Xero of 858 small businesses in the UK using Xero, May 2024
Record and update your assets in a flash
Xero’s fixed asset software lets you efficiently record your UK business’s purchases, from machinery and vehicles to office equipment. Create new assets straight from your bills and handle updates on your mobile.
- Import all your fixed assets into your new register in one go
- Add a new fixed asset directly or create one from a bill
- Update your fixed asset types, depreciation methods, and default accounts whenever you like
- Keep your records up to date so they're ready for tax time and audits
Give your financial advisor access to Xero
When emailed spreadsheets slow you down, Xero makes it easy to collaborate with your financial advisor. Just log in to your Xero organisation at the same time and talk through up-to-date figures and asset reports.
- Assign your financial advisor and team members suitable Xero user roles and permission levels
- Get clear data visualisations and graphs in Xero’s user-friendly software
- Confidently make decisions and plan ahead by knowing the asset calculations are accurate
- Identify assets to dispose of
Make better decisions for your assets
When should you replace that machine? Or upgrade the office chairs? Xero’s depreciation software gives you a clear view of what your assets are worth. Get depreciation schedules and disposal reports – all in one place. And feel confident in every decision.
- Track the loss of asset values over a set period and use Xero’s depreciation schedules for more detail
- Run disposal reports to show information on assets you've sold or disposed of
- See detailed reports on asset gains and losses, and the depreciation recovered from assets you've disposed of
What is fixed asset management software?
Fixed asset management software helps small business owners keep track of their asset values. They no longer need spreadsheets, meaning they skip time-consuming admin and potential mistakes. Xero is cloud-based, so you can update your asset register whenever – and wherever – you need to.
UK depreciation methods & capital allowances
There are different ways to record the depreciation of an asset, depending on how quickly its value drops. Xero lets you choose your method: straight-line depreciation, reducing balance depreciation, or full depreciation on purchase. Depreciate assets at specific rates or over their useful lifetime.
Here’s more info on Xero Central
Accounting software for your small business
Run your business accounting online with Xero. Easy-to-use accounting software, designed for your UK small business.
- Everything in one place
- Connect to your bank
- Collaborate in real time
- Customise to suit your needs
Plans to suit your business
Simple
A new plan, specifically for non VAT businesses, with features designed for sole traders and landlords.
Simple
Usually £7
Now £1.40
GBP per month excluding VAT
Save £33.60 over 6 months
- Send invoices and quotes
- Accept online invoice payments^
- MTD for Income Tax ready
- Reconcile bank transactions
- Smart document capture
- View real-time reports
- Automate subcontractor CIS calculations and reports
FAQs on Xero’s fixed asset management software
Assets are resources your business owns. These can be both tangible items (physical assets like computers, equipment, and inventory that help your business operate each day), and intangible assets like trademarks and other intellectual property. The more your assets are worth compared with your liabilities (money owed), the greater the value of your business.
Assets are resources your business owns. These can be both tangible items (physical assets like computers, equipment, and inventory that help your business operate each day), and intangible assets like trademarks and other intellectual property. The more your assets are worth compared with your liabilities (money owed), the greater the value of your business.
A fixed asset register is a list of all the physical resources your business owns, such as land, buildings, vehicles, and office equipment. It has information on each asset's original cost, location, life expectancy, and other relevant details. Keep an accurate register so your business can keep track of its assets' values.
A fixed asset register is a list of all the physical resources your business owns, such as land, buildings, vehicles, and office equipment. It has information on each asset's original cost, location, life expectancy, and other relevant details. Keep an accurate register so your business can keep track of its assets' values.
A detailed fixed asset register is an accurate account of what your business assets are worth. That helps you make decisions about these assets – like which to service or dispose of.
A fixed asset register helps with tax returns, audits, and general compliance. For example, it helps you keep accurate depreciation records, be ready for audits, and generally practise sound bookkeeping.
A detailed fixed asset register is an accurate account of what your business assets are worth. That helps you make decisions about these assets – like which to service or dispose of.
A fixed asset register helps with tax returns, audits, and general compliance. For example, it helps you keep accurate depreciation records, be ready for audits, and generally practise sound bookkeeping.
You can upload all your assets to Xero in one go to create your fixed asset register.
Find more instructions on importing fixed assets in Xero Central
You can upload all your assets to Xero in one go to create your fixed asset register.
Find more instructions on importing fixed assets in Xero Central
Fixed asset register software should support all the main depreciation methods:
- straight-line – where an asset’s value steadily lowers over the years
- reducing balance – where an asset’s value falls more quickly to begin with
- full depreciation on purchase – where Xero immediately expenses the full cost of the asset, also known as an immediate write-off
Xero lets you choose the depreciation method and rate, or depreciate assets over an effective life. The software then calculates and logs the changing values for you.
Fixed asset register software should support all the main depreciation methods:
- straight-line – where an asset’s value steadily lowers over the years
- reducing balance – where an asset’s value falls more quickly to begin with
- full depreciation on purchase – where Xero immediately expenses the full cost of the asset, also known as an immediate write-off
Xero lets you choose the depreciation method and rate, or depreciate assets over an effective life. The software then calculates and logs the changing values for you.
If you have fixed assets you want to track in Xero, create a fixed asset register to record and calculate book depreciation on your assets. This will help you keep track of the assets, especially if they’re spread over different locations.
Software like Xero lets you collaborate with your financial advisor by reviewing the same data together in its cloud-based asset management system. All your data live in a single central location in the cloud, ready for you to update whenever you need to.
If you have fixed assets you want to track in Xero, create a fixed asset register to record and calculate book depreciation on your assets. This will help you keep track of the assets, especially if they’re spread over different locations.
Software like Xero lets you collaborate with your financial advisor by reviewing the same data together in its cloud-based asset management system. All your data live in a single central location in the cloud, ready for you to update whenever you need to.
Xero helps you keep accurate financial records of your fixed and other assets, so your records are up to date and ready for tax time and audits. You can quickly find these records in the cloud-based software, whether for your tax reporting or general bookkeeping.
Xero helps you keep accurate financial records of your fixed and other assets, so your records are up to date and ready for tax time and audits. You can quickly find these records in the cloud-based software, whether for your tax reporting or general bookkeeping.
Manage fixed assets: your starter guides
We've put together some nuts and bolts information on how to manage your fixed assets.
Set up your fixed assets
Create a register and start detailing each of your fixed assets.
Add or copy a fixed asset
Add a fixed asset directly to the register or create one from a purchase transaction.
Run fixed asset reports
Run a depreciation schedule, a disposal schedule, or a fixed asset reconciliation report.
Small business accounting tips and guides
In the early days of starting your business? Here’s essential advice on how to get going.
- Guide
Business structures: Your guide to choosing the right one
Business structures affect your tax obligations, legal liability, and flexibility. Learn how to choose the right one.
- Chaptered guide
Business development plan: write yours in 8 easy steps
Are you ready to drop the hammer and take your business to the next level? Let’s look at how to grow.
- Chaptered guide
How to do bookkeeping
Bookkeeping includes everything from basic data entry to tax prep. Let’s look at the core jobs and see how they’re done.
FAQs about Xero in the UK
Yes, you can connect your Xero account with HMRC to more easily prepare and submit your returns so you never miss a deadline. HMRC recognises Xero’s software, which is also compliant with Making Tax Digital (MTD).
Find out more on running a business at GOV.UKYes, you can connect your Xero account with HMRC to more easily prepare and submit your returns so you never miss a deadline. HMRC recognises Xero’s software, which is also compliant with Making Tax Digital (MTD).
Find out more on running a business at GOV.UKXero payroll offers a range of reports for internal use and helps you meet HMRC requirements each month. You can give your employees self-service access so they can view payslips, request leave, and submit timesheets directly from Xero.
See HMRC rules for running payrollXero payroll offers a range of reports for internal use and helps you meet HMRC requirements each month. You can give your employees self-service access so they can view payslips, request leave, and submit timesheets directly from Xero.
See HMRC rules for running payrollThe best accounting software depends on your needs. Xero’s accounting software has flexible plans so you can adjust your subscriptions to access the features you need as your business grows.
Check out Xero’s pricing plansThe best accounting software depends on your needs. Xero’s accounting software has flexible plans so you can adjust your subscriptions to access the features you need as your business grows.
Check out Xero’s pricing plansNo – Xero is based in the cloud, so all you need is an internet connection. But you need a multi-factor authentication (MFA) app to log in to Xero. MFA adds an extra layer of security by checking that it’s really you when you log in.
Learn about data protection with XeroNo – Xero is based in the cloud, so all you need is an internet connection. But you need a multi-factor authentication (MFA) app to log in to Xero. MFA adds an extra layer of security by checking that it’s really you when you log in.
Learn about data protection with XeroYes – the Xero App Store has hundreds of apps to help manage your business, including apps specifically designed for your industry and for doing business in the UK.
Check out the Xero App StoreYes – the Xero App Store has hundreds of apps to help manage your business, including apps specifically designed for your industry and for doing business in the UK.
Check out the Xero App Store
Start using Xero for free
Access Xero features for 30 days, then decide which plan best suits your business.
