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For accountants & bookkeepers

For accountants & bookkeepers

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  1. Separate the INCOME TAX EXPENSE from the normal operating expenses in the Profit & Loss Statement. for example:
    - Net Profit Before Tax
    - INCOME TAX EXPENSE
    - Net Profit After Tax
    This is the basics of accounting apps.

    59 votes

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    5 comments  ·  Workpapers  ·  Admin →
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  2. Xero workpaper functionality that allows clients to submit their query responses against a specific line item, rather than the paper tab. Currently, it is difficult to determine which account the supporting document is for.

    19 votes

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     ·  2 comments  ·  Workpapers  ·  Admin →
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  3. Xero Files uploaded - I would like to suggest to have a bulk download/ Download all selection instead of downloading it one by one as of now. I strongly recommend if Xero team can add another bulk download function.

    It can helps speeding up and save time.

    Thank you !

    17 votes

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    0 comments  ·  Workpapers  ·  Admin →
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  4. Xero workpaper functionality that can connect to more than one Xero file to reconcile inter-entity loan accounts, or confirm rental income and expenses, or Div 7A interest and expense, etc.

    Eg: Debit loan in Company A, Credit loan in Trust B - can link both totals to see at a glance the loans match on both debit and credit sides.
    Entity A pays related-party rent to Entity B - link B's income and A's expenses to see at a glance that the amounts are correct on both sides in both files

    31 votes

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  5. Kindly would like to suggest adding Original Currency in the Aged Payables and Aged Payable Summary. Would make our reporting preparation easier. Thank you!

    8 votes

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     ·  3 comments  ·  Workpapers  ·  Admin →
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  6. So annoying to open an archived workpaper pack, want to check a document that was attached to an account and you can't! Have to scroll down and find it amongst all of the attached documents from that whole workpaper. Nightmare!

    11 votes

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  7. Integrate workpapers module into Xero with direct links to the Xero trial balance. Importing the trial balance is impractical and time wasting and the allocation of the account balances within workpapers is dependant on the report code allocations. You should have to option to view all the account balances and the net profit or loss from the trial balance when viewing workpapers to ensure all balance sheet accounst are included.

    80 votes

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  8. Opportunity to provide explanations for significant changes in balances (specifically profit and loss items):

    • It would be useful if the PNL review section of Xero Workpapers had an area to incorporate commentary on significant variances or that a balance is not material and therefore no further work on the balance has been performed.
    • This would add value in that you won't have to upload separate documents for each profit and loss line item
    3 votes

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  9. The TB in Xero does not show lines that have a nil balance, however, you may need to drill down on a line that has a nil balance but may have have transactions (such as a control account). Could an option be added to the trial balance that would allow it to be displayed either with or without the nil balances?

    8 votes

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  10. CUSTOMER AND SUPPLIER Journals needs to be added to the system????? And a proper detailed CUSTOMER AND SUPPLIER DETAILED LEDGER - Without the allocation of payments AND credit note splits with THE ACTUAL DETAIL on the bank and jnls so that one can see what is going on. WITH opening and CLOSING Balances? i have seen HUNDEREDS op people complain about this??? come on XERO? YOU CAN DO THIS/? EVERYTHING else is top notch but your cust and supp ledgers needs to be fixed and one needs to be able to do a proper cust and supp journal entry. especially…

    17 votes

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    8 comments  ·  Workpapers  ·  Admin →
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  11. Workpapers to run for periods (not just years) and for periods ending not on a month end.

    The majority of my clients have a year end with 5 April. At the moment i would only be able to run the work papers to 31 March. I also have other clients with year end dates throughout the year.

    In addition to this, I can only run the workpapers for a full year. What happens if a business ceases. Often we need to run a set of accounts, and therefore workpapers, for a shorter/longer period.

    32 votes

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  12. Would be helpful to have the feature to export customers with last trade date.

    1 vote

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  13. When preparing annual financial statements and performance reports for auditors, it is important that the contents page and accountant's disclaimer report come before the statements that the auditor needs to refer to in their audit opinion, so that they report on pages 5 to 17, not 5 to 7 and 9 to 17. It causes unnecessary costs to both accountants and auditors each year to change round and get this done manually.

    1 vote

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  14. Currently there are several system notifications in Xero Workpapers however there is not one for when the partner has approved the workpaper pack. This should then send a notification back to the preparer/manager to let them know the job is right to be finalised.

    25 votes

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  15. Within the accounts transactions report - include an option for either selecting all all of the profit and loss items or all of the balance sheet items. Instead we have to manually select each tick box for every profit and loss item we need - which is very timely consuming. We were expecting this to be one of the first easier updates that you would have introduced years ago and are still waiting. This is where Sage nominal activity reports trumps Xero reports. Please introduce this!

    1 vote

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  16. It's been mentioned previously but seems to have fallen off Xero's radar - the ability to use our own Excel workpapers within Xero workpapers would be fantastic.

    145 votes

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  17. Make Secondary review points editable and able to be deleted as can the Primary review points. It's an obvious and frustrating omission for Users of Xero Workpapers.

    1 vote

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  18. The ability to sort workpaper packs by manager to help workflow management.

    1 vote

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  19. On the Income Tax workpaper, the first section Tax Provision per P&L has a Less PAYG installments (sic) section.
    Xero prefills the dates (e.g. for 2020 FY workpapers):
    September 2019
    December 2019
    March 2020
    June 2020

    All good so far, you can enter the PAYG Instalments that will be included on the tax return.
    The final line FY20 Tax to pay/(refund) then agrees to the company tax return.

    The second section Balance Sheet Income Tax Reconciliation has a Less PAYG installments (sic) section.
    Xero prefills the dates (e.g. for 2020 FY workpapers):
    June 2019

    This is good, June 2019 instalment…

    4 votes

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  20. It would be useful if there was a section that allocated for notes screenshots to be incorporated into the notes on workpapers for each profit and loss and balance sheet item. This will allow for a screenshot from an email for example to be copied and pasted onto the notes section.
    (as opposed to saving this and then dragging it as a document). These notes should also somehow be linked (similar to documents) to each line item of the profit and loss so that if you ":click" on a notes icon the note pops up and you can make the…

    1 vote

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