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Calculating the tax adjustments

Private use adjustments

Calculating the private use of an asset is an important adjustment for accounting income. Can this adjustment be carried out on a more regular basis during the year? What changes to your software would assist you with making this adjustment?

Comments

Janine Clemons
I find depreciation on assets tricky, so having this inbuilt would be helpful.

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2 months ago
Jane Fitzgerald
It could but would prefer for the end of financial year adjustment

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2 months ago
Christine Robinson
Presume that private use of a car is an example. Adjustments could also be achieved easily.

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2 months ago
Christopher Smith
OK with it

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2 months ago
John Penney
We do this per-transaction during the year.

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2 months ago
Sandra Kraakman
This is something our accountant does for us at year end.

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2 months ago
Jan Booysen
Next to no private use of business assets, so easy to cope with.

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2 months ago
Margaret Baker
Hi, Would be a useful addition to Xero workpapers which I hadn't thought to mention to you. Currently Xero Workpapers are EOY but they could be configured to be monthly and so monthly adjustments in most areas could be pushed through to Xero in an efficient manner.

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1 month ago
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