How to create fixed assets accounts [xero]
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Updated: 12/08/2021
Article #: 80
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The list of Fixed Asset accounts, should be provided to you by your Financial Advisor. Fixed Assets like Plant & Equipment, Furniture and Property Improvements should already be included in your Chart of Accounts. With relation to Motor Vehicles Asset accounts, your Chart of Accounts may include a Fixed Asset account for each Motor Vehicle. Therefore, when purchasing a new Vehicle, new Asset Accounts (Asset At Cost and Asset Accumulated Depreciation) need to be created.
Create the Fixed Asset Account
Create the Fixed Asset Accumulated Depreciation Account
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