Profit & Loss report - Filter by project
Project reports are very difficult to follow and understand. The ability to click a transaction and open the source is not possible unlike all standard Xero reports. A Profit and Loss by project is crucial. Project transactions need to be combined into the audit trail so that standard reports can be ran to include project information.
Thanks for your feedback, Karen. 🙏
So others in the forum understanding what they're specifically adding their support for I've adjusted the title to reflect your first idea for filtering the Profit & Loss.Â
History of project activity is quite a different ask - we have an idea for recording history for all user activity that you may like to support and share in too. 🙂
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Haley Declercq-Raye commented
Update project reports to pull transactions based on transaction date rather than the date a transaction is assigned. It would incredibly helpful to pull a project report that ties to your profit and loss.
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Andrew Wier commented
Running a profit and loss by project is absolutely vital to us, we need to see the spend and the detail of what it's spent on. Without this the whole project module is limited to the point of not really useful. Please add this to reports as soon as possible as it makes a massive difference to your product.
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Karen Garrattley commented
Hi Milda
The option you describe is for tracking categories renamed as Projects. Xero Projects isn't integrated into the P&L.
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Milda Drungyte commented
Please try this: Accounting - Reports - Financial Statements
By the line Profit & Loss there should be 3 dots, click on them and there should be an option 'compare projects' or similar, click a star on that option.
The report should now appear in the drop down menu of Accounting section along with your standard P&L report. -
Coco Cheung commented
The above is essential for a company seeking to track specific projects, brands, or channels. It allows for easy extration of data without the need for manual input into another platform. Simultaneously, all such data can be integrated into the company's Proft and Loss (PnL) and Balance Sheet (BS) as a comprehensive overview.
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Vickie Nee commented
To be able to run a P&L by Project is vital for our business. Today, my boss needed to see a report that showed him total expenses by category for one specific project. I had to print a Project Financials report (which is essentially just a list of transactions), highlight expenses for the different expense categories, and manually add them up in order to get a total for Fuel, Meals, Materials, Supplies...., etc, for my boss. This was on a big project that spans 2 years, so you can imagine how long that took me! As we grow, we may have to find another project management system that will allow us to get reports by project. Thank you!
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Kyle Te commented
Very critical for us as well. We don't really need the full on project management software, we just need to be able to filter the P&L by project and that would give me everything we need for now. I cant imagine that being that big of a challenge inside of a database like this.
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John Wagner-Stafford commented
SUPER SUPER IMPORTANT FOR OUR ORGANIZATION. CAN'T WAIT MUCH LONGER. OTHER PRODUCTS ARE GRABBING OUR ATTENTION
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Tiffany MacKinnon commented
This is a very critical item for us. I was using tracking categories to see profit and loss on jobs - but the feature isn't really supported for using as a "project" and you run out (reporting also does not have capacity to report on large amount of jobs over the year etc. So they suggested Projects. Bought paid for and now implemented, and can't get reports needed!!! The project reports only list "item description" so you can't even see what vendors or specific invoices or GL item is involved with the project. Very disappointing. If you are going to have a project feature it should have these capabilities or its pretty useless to be honest.
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Victoria Elmsly commented
Yes, that would be how we run the report, thank you! How can I free up some categories please? I have archived them in the tracking category area and we have less than 200 active projects.
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Karen Garrattley commented
Hi Victoria, the filter available in the P&L is for Tracking Categories and not Projects. You are possibly using Tracking Categories for your projects and you may have ran out of Tracking Categories available for reporting. Xero has a maximum number of 200 in Tracking Categories and although Xero allows you to create more, it won’t report on them.
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Victoria Elmsly commented
Hi, we have been able to run a P&L for a project, using the filter to choose the project. This had been available for us for over three years but this past month the income is not pulling all invoices for a handful of projects.
How far up the 'Critical' list is this please?
We are a registered Charity and are required to report to our funders and require this report to do so. Therefore, this report is critical to our business.