Chart of Report Codes: A powerful features for Advisors
Xero HQ should include a feature called ‘Chart of Report Codes,’ functioning similarly to the Chart of Accounts in Go Xero. This feature would allow Advisors to define and customise Report Codes themseves, rather than relying on Xero's predefined Report Codes, as they possess a deeper understanding of their clients' accounts than Xero. Consequently, Advisors could generate diverse Management Report Pack templates based on different sets of Report Codes configurations to accommodate diverse industries.
AI WEE CHONG
shared this idea
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AI WEE CHONG
commented
Let me share an example, the Report Code【EXP.COS.PUR】, is applicable for both goods and services. However, as advisors, we are unable to adequately address situations where a company operates in two distinct business lines: sales of goods and provision of services.
The current setup only allows a report code to be mapped to one business activity. As a result, we face limitations when preparing reports that require a clear distinction between the cost of goods sold and the cost of services rendered.
For reference, I have attached a sample to illustrate the issue more clearly.
Therefore, I strongly encourage Xero to consider enabling report code customisation on the advisors' end, which would significantly improve reporting flexibility for businesses with diverse operations.
