Xero Tax(AU ) | Business Schedule - Individual Worksheets
We have some clients that have multiple businesses under their personal names. Can we please have individual worksheets for each business to input income and expenses which then automatically totals into the business schedule in the main form?
At the moment in XERO tax, we need to put the grand totals into the business schedule, then split the amounts across the businesses for each expense/income line item. This is not practical as we generally receive separate figures for each business, not a grand total.
Karen Low
shared this idea
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Stephen Lewis
commented
I agree, it is an illogical and time inefficent way to to use the "allocation" function. That is once you have worked out you cannot just create a new Business schedule and have them aggregate in the return
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Louise Ninnim
commented
Agreed. Individual worksheets for each business would be better.
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Alana Macklin
commented
Would be such a time saver and Handitax did this very well.
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Prism Accounting
commented
Business Schedule in ITR is needed not just for multiple businesses but for any business (good old Schedule B). The way it is supposed to be is you start with a business schedule and then you integrate it either to P1 or P8. But Xero does everything through the rear end.
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Nick Munro
commented
No other tax software I have used has such a clunky process. There is so much Xero tax gets right. This is not one of them.
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Gabriela Sassano
commented
This is a much-needed change and great idea above. It seems like at the moment we are working backwards putting in the totals and then splitting the figures.
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Hari Sharma
commented
This is a really good idea if we could add separate worksheets for different businesses under the same ABN. It would make our life so much easier rather than to splitting the amounts.