Overview
Fixed asset depreciation and lease accounting for Xero, finally sorted.
If you are managing fixed assets in a spreadsheet, using Xero's built-in fixed asset module and hitting its limits, or tracking IFRS 16 and ASC 842 lease schedules outside your accounting system, AssetAccountant is the solution you've been waiting for.
AssetAccountant is purpose-built, cloud-based fixed asset depreciation and lease accounting software with worldwide jurisdictional support. It connects directly to Xero, automates your calculations, and keeps you compliant with local tax rules and accounting standards.
Trusted by 8,000+ users across 32 countries including the Big 4 and large corporations. AssetAccountant performs at scale: managing thousands of entities or tens of thousands of assets are is effortless. Over $80 billion in assets under management.
AssetAccountant has deep coverage for Tax rules and accounting standards in multiple jurisdictions, including:
- ATO (Australia): effective life lookup, Div 40, Div 43, Small Business Pools, Low Value Pools, Software Pools.
- IRS (USA): MACRS, Section 179 and Bonus Depreciation.
- HMRC Capital Allowances (UK): Main Pool (18% WDA), Special Rate Pool (6% WDA), AIA, Full Expensing, FRS 102 updated lease model (Jan 2026).
- IRD (New Zealand): DV and SL rates auto-populated, Investment Boost.
- SARS (South Africa): s11(e), s12C, s12E, s13. CRA
- General international support for all other markets.
AssetAccountant manages Tax and accounting depreciation side by side. Local tax and IAS 16 / US GAAP book depreciation in one fixed asset register. One source of truth, no double maintenance, no year-end reconciliation risk.
One-click journal posting to Xero: journals posted to your chart of accounts in one click. New assets auto-detected from Xero fixed asset accounts as Draft Assets. Xero tracking categories (profit centres, locations, departments, etc) fully supported.
IFRS 16 and ASC 842 lease accounting: finance loans, hire purchases and right-of-use assets automated. Payment schedules, interest accruals and ROU amortisation every period. Lease modifications and terminations handled correctly.
Advanced operations: Partial disposals, revaluations, reassessments, impairments, components, WIP/CIP, bulk operations, custom fields and attachments. Everything the Xero built-in module cannot do.
Audit-ready reporting: depreciation schedules, tax reports, acquisition and disposal reports and more. Full audit trail. ISO27001 certified. Multi-entity support for accounting firms and corporate groups.
"AssetAccountant is a breeze to use, and we love that it integrates with Xero." - Leanne Spiteri, Virtue Private Advisory
"It is amazing, we calculated this year depreciation in just a matter of minutes." - Veenith Singh, Beca Group
Free forever for up to 10 assets. Free 30-day trial. No credit card required. Start at asset.accountant.
AssetAccountant + Xero
How AssetAccountant works with Xero
AssetAccountant connects directly to your Xero organisation and goes above and beyond : in-depth tax depreciation rules for USA (IRS MACRS), Australia (ATO), UK (HMRC Capital Allowances), New Zealand (IRD) and South Africa (SARS). Standard tax rules for all other jurisdictions. IFRS 16 and ASC 842 lease accounting, tax and accounting depreciation side by side, and advanced fixed asset operations including partial disposals, revaluations, impairments, components and bulk actions.
Here is exactly how the integration works:
Draft Asset detection: AssetAccountant monitors your Xero fixed asset accounts and automatically creates Draft Assets whenever a new fixed asset is added or a bill is allocated to a fixed asset account in Xero. You review and approve each Draft Asset before any calculations run. Nothing posts to Xero without your sign-off.
Chart of accounts mapping: Map your Xero chart of accounts directly to your AssetAccountant asset groups. Once mapped, all journals including depreciation, disposals, revaluations and lease entries post to the correct Xero accounts automatically. Flexible mapping means you can organise your fixed asset data to match your business structure.
One-click journal posting: When you are ready, post depreciation, acquisition, disposal, revaluation, impairment and lease journals directly to Xero in one click. Journals are detailed and granular, making bank reconciliation straightforward. Full journal history is retained for audit purposes.
Xero tracking category support: AssetAccountant syncs with your Xero tracking categories (profit centres, locations, departments or any custom category) and lets you assign them directly to individual assets. Journals posted back to Xero carry the correct tracking category, giving you multi-dimensional fixed asset reporting inside Xero without any manual rework.
Unlimited users: Every AssetAccountant account includes unlimited users at no extra cost. Your whole team, including your advisers and accountants, can access the fixed asset register and review journals at the same time.
Fixed asset operations supported:
- Acquisitions (full and partial), disposals (full and partial), additional cost
- Reassessments, adjustments and impairments
- Revaluations and components
- Taxable use adjustments
- WIP / CIP (work and construction in progress)
- Custom fields (serial numbers, locations, asset tags) and document attachments
- Bulk actions: disposals, reassessments, revaluations and more
Lease and Loan accounting supported (IFRS 16 and ASC 842):
- Finance loans, hire purchases and right-of-use assets
- Multiple assets per lease
- Automated payment schedules
- Current and non-current interest and liability tracking
- Lease modifications, refinancings and terminations
- Granular journals for easy bank reconciliation
Getting started
Getting started with AssetAccountant takes minutes. Here is how:
Step 1: Sign up with Xero. Click Get this app and sign in with your existing Xero credentials. No separate account creation required. Your 30-day free trial starts immediately. Free forever for up to 10 assets, no credit card required. Every AssetAccountant account includes unlimited users, so your whole team can access the fixed asset register from day one.
Step 2: Create your fixed asset register. Select your country and jurisdiction. Local tax rules activate automatically. IRS MACRS for the USA (all asset classes and conventions, Section 179 and Bonus Depreciation). ATO effective life lookup for Australia (Div 43, Luxury Vehicle, Small Business Pools, Low Value Pools, Software Pools). HMRC Capital Allowances for the UK (Main Pool, Special Rate Pool, AIA, Full Expensing and the updated FRS 102 lease model effective January 2026). IRD DV and SL rates for New Zealand (buildings, intangibles and low value assets treated correctly). SARS wear and tear for South Africa (s11(e), s12C, s12E, s13). General tax support for Canada, Hong Kong, Singapore, Malaysia, Indonesia, Philippines, Ireland and all other markets.
Step 3: Connect to your Xero organisation. In Register Settings, go to Integrations and map your register to your Xero tenant. Map your Xero chart of accounts to your AssetAccountant asset groups. Once connected, AssetAccountant automatically detects new assets added to your Xero fixed asset accounts and presents them as Draft Assets for review before calculations run. Xero tracking categories can be synced in Register Settings -> Classifications and can be assigned to individual assets.
Step 4: Import your existing register. Use the CSV import tool or bring assets in directly from your Xero fixed asset accounts. Our import tools get you fully operational in a single session. Our team will even help you migrate your register and configure your integrations.
Step 5: Post your first journal. Just select your period, the transactions you want to include and then post journals directly to Xero in one click.
We are with you every step of the way. Our customer success team is available 24/7, real people not a ticket queue, from your first day of trial. Pre-purchase questions are welcome!
Full step-by-step tutorials, a video hub, a comprehensive helpdesk and onboarding guides are available at support.asset.accountant, videos.asset.accountant and onboarding.asset.accountant.
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