In order to have your Depreciation account showing up in the correct place in the correct financial report & scenarios, what you'll need to do is adjust the account settings inside of Figured.

Changing the account settings in Figured will only affect how your Figured budgeting and reporting works, Xero will be unchanged.

You can change the account settings by going to the Settings page of a farm, searching for an account name in the chart of accounts, and clicking into your account of choice.

The three things you'll need to change for your depreciation account are:

  • The account type - it needs to have type depreciation
  • The contra account - we recommend an accumulated depreciation account which will flow through to your balance sheet
  • The bank account - you'll need to change this to don't create cash transactions
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