Homepage | Cash in and Cash out - Split by Business and Owner drawings
Allow 2 categories of Cash Out since i am a sole trader and my drawings are included in cash out so the widget is useless if i cant either exclude drawings or split cash out between Busienss Cash Out and Owner Drawings Cash out. Just keep the Cash out bar but split into two colours so that you can see Cash out Business and Cash out Drawings.
Craig Bullock
shared this idea
Appreciate you sharing the need in this split of the cash in and out widget here. We're tracking the ideas we receive on the homepage closely and I'll be sure to share if there are any updates planned for this, here.
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Ben Rolfe
commented
I second the idea of being able to filter & customize the homepage tiles for Net profits and for Cash in and out, just like we can on the Visualize tab, so we can see Net profits over time, exclude certain tracking categories, etc. For the homepage tile to be useful, we need to be able to customize it and have the settings save between logins!
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Ben Rolfe
commented
Hi Craig and Matthew,
I had this same question and eventually concluded I was looking in the wrong place. Xero is trying to give separate information about cash in / cash out and about Net Profits. Companies that use accrual accounting and/or have lots of nonelective lumpy expenses need to know if they will be able to cover payments next month and may care mostly about the former. Each of you it sounds like will care about the latter.
Of course, the dashboard tile for Net Profitability still has significant limitations. If you pay yourself a salary just once a year, for instance, you can't filter by tracking category to exclude that, as you can on the visualize tabs. But it will be way better for you than Cash In - Cash out.
Just in case that's helpful!
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Matthew Cummins
commented
This is absolutely critical, and my biggest disapointment with Xero after moving from another package.
As a sole trader taking money out of the business or adding money in to the business are equity activites, not operational activities.
Regardless of accounting standards, or how equity is classified, from an operational point of view I want to be able to see how much money came in for a month, and how much money went out on OPERATIONAL areas and actual business costs, EXCLUDING my drawings. Otherwise it doesn't show an accurate or useful picture of the business operations itself.
If my revenue was $10,000 for a month and my business costs were $3000 and I withdrew $6000 is a VERY different situation to if my revenue was $10,000, my business costs were $7000 and I withdrew only $2000 for the month. Yet both those scenarios would show up exactly the same on the graphs. Owners equity drawings and also adding capital are a very, very different type of transaction to all other business cash flows.