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steve201
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Hi

The fact that you need a Fixed Asset register for company property in WA shows at least one government in Australia has it right.

As an accountant myself, I can say the ute your company owns is a corporate asset and cannot be sold off like it is your own ute. Frankly it is not yours to sell.

You should be very careful registering the ownership of any company assets because there are differing legal consequences. For example, in the building industry over east many companies – including Pty Ltd – are caught by the PPSR or principal property securities register which identifies asset ownership in the event of issues surrounding asset sales.

So the fact that you need a Fixed Asset Register is really simple to fix, as Xero has a Fixed Asset module built in. You can easily create a register in around 1-2 hours of work.

It might be inconvenient , but please remember it is designed to protect your company.

Steve