Updated over 6 years ago on .
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Mortgage and fixed asset setup in Xero help?
Xero users, I need some help. I've moved from Excel to Xero and am need of some help setting up accounts for an LLC started last year. I've been trying to piece together how to do this from lots of Xero help topics and forum posts, but can't get a straight answer on how to do this.
This is for a property purchased in 15 years ago that we moved into the LLC last year. Not sure how the opening balances for the fixed asset need to be setup for correct depreciation.
Also not quite sure how to set up the loan correctly so that principal and interest are accounted for correctly.
Any advice? I'm willing to pay, too.