Simplify your asset depreciation with Xero software
Xero helps you manage and depreciate your business assets, including software. Record asset details and pick the depreciation method, then let Xero handle all calculations and journal entries automatically. This way, you get reliable numbers and easier compliance.
Track every asset in Xero
With Xero, you can track all your assets from a single dashboard. Keep an eye on each asset’s depreciation and disposal history in near real time. And after retiring an asset or selling it, watch as Xero makes the adjustments for you.
- Automatic calculations keep your records accurate
- Xero asset depreciation software works in the cloud, so you can track your assets on the move
- You and your advisors can collaborate online by looking at the same set of up-to-date numbers
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
Minimize your depreciation admin
Want to save hours? Xero automates the admin to give you fast, efficient workflows. Add new assets with key details. Choose the depreciation method that matches your accounting needs. Then let Xero calculates depreciation, schedule journal entries, and update your financial reports.
- Add assets (like software or equipment) by entering details like purchase price and residual value
- Use the straight-line or diminishing value depreciation method
- Get up-to-date numbers for your financial reports so you’re always ready for stakeholder meetings
Use the depreciation method that suits you
Xero lets you choose how to calculate the depreciation of your software and other assets. This means you can set up your Xero organization to support your specific tax and accounting requirements.
- Choose the straight-line or diminishing value method
- Write off the asset cost with a full depreciation on purchase
- Customize asset life, residual value, and depreciation rates for each asset
Xero guides on assets and depreciation for your small business
Just started your business? Here’s straight-talking advice on how to set up your assets.
Master your business finances: Assets vs. liabilities explained
Understanding assets vs liabilities helps you make better financial decisions and grow your business.
Accumulated depreciation: Definition, calculation and examples for your small business
See if accumulated depreciation is an asset and learn how to calculate it to keep your balance sheet accurate.
Straight-line depreciation explained
Learn about straight-line depreciation and how to apply it when depreciating fixed assets.
Smooth your IRS compliance
Tax time is less stressful with Xero’s asset keeper depreciation software. How? Xero automatically creates depreciation schedules and reports for your tax prep. And its built-in compliance features help you sail through your financial year-end admin.
- Have peace of mind that all calculations and journal entries follow IRS guidelines
- Export detailed reports for your accountant or tax advisor
- Keep a full audit trail for every asset (and eliminate the need for paper records)
Get insights from your reports and analytics
Better understand how your asset depreciation affects your business with Xero’s digital reporting and analytics tools. Easily create depreciation schedules, see balance sheet impacts, and get tax-ready statements. And then fuel your business plans and strategy!
FAQs on Xero’s asset depreciation software
Xero automates your depreciation by calculating and posting journal entries according to a schedule you on your choose, It bases the calculations on each asset’s purchase price, depreciation method, effective life, and residual value. This makes sure your numbers are always accurate, detailed, and up to date.
Xero automates your depreciation by calculating and posting journal entries according to a schedule you on your choose, It bases the calculations on each asset’s purchase price, depreciation method, effective life, and residual value. This makes sure your numbers are always accurate, detailed, and up to date.
You can choose between the straight-line and diminishing value methods, and then customize each asset’s useful life and residual value to fit your business needs. You can also write off the total asset cost with a full depreciation on purchase.
Here’s more info on how Xero calculates depreciationYou can choose between the straight-line and diminishing value methods, and then customize each asset’s useful life and residual value to fit your business needs. You can also write off the total asset cost with a full depreciation on purchase.
Here’s more info on how Xero calculates depreciationYes –, Xero supports depreciation for software and other intangible assets. Just record the asset, choose the depreciation method, and let Xero handle the rest. If you’re not sure, ask accountant to identify all the intangible assets you can depreciate.
Yes –, Xero supports depreciation for software and other intangible assets. Just record the asset, choose the depreciation method, and let Xero handle the rest. If you’re not sure, ask accountant to identify all the intangible assets you can depreciate.
Certainly! Xero generates audit-ready, exportable depreciation schedules and reports that meet IRS requirements for your tax prep and compliance.
Certainly! Xero generates audit-ready, exportable depreciation schedules and reports that meet IRS requirements for your tax prep and compliance.
Xero’s fixed asset register lets you record disposals, adjustments, and retirements – and then updates your financial data and maintainsing a complete audit trail automatically.
Here’s more about tracking transactions with XeroXero’s fixed asset register lets you record disposals, adjustments, and retirements – and then updates your financial data and maintainsing a complete audit trail automatically.
Here’s more about tracking transactions with Xero
Plans to suit your business
All pricing plans cover the accounting essentials, with room to grow.
