How do I record carrying amounts in Xero

It depends on when we set up your system

Xero does NOT have a carrying amounts table function. 

So we need to get creative.

It is probably good to remember what the purpose is:

1. Shows acquisitions
2. Shows disposals
3. Shows depreciation
4. Reconciles to the SOFP

There are three ways to show carrying amounts in our XYZ & GPFR in Xero System

1. Use our Notes to FS (recommended)
2. Insert the carrying amounts report
3. Insert the depreciation schedule - some auditors might frown upon this

OR

Read each section below

Option 1 - Use the tables in the Notes

See video above.

Option 2 - Use our manual worksheet, by clicking "add report" and search for "carrying"

See video above.

Option 3 - Insert the depreciation schedule

See video above

Do it for 2 years.