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Reports & tax

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Reports & tax

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936 results found

  1. To be able to have a short cut to be able to print pdf straight from report screen without having to click multiple times to get there

    1 vote

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    0 comments  ·  Reporting  ·  Admin →
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    Thanks for your feedback, Sadie. We don't have any direct plans for a PDF / Print shortcut atm but we'll feel out the interest from your idea here and let you know if there's any progress.

  2. VAT Only Transactions - Xero to remove needless restriction to have VAT amount less than line total. This will allow posting zero net with VAT amount to 20%EXP VAT code with a total equal to the VAT total without having to reply on VAT on imports tax code.

    5 votes

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    1 comment  ·  Tax filing  ·  Admin →
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    Hi team, we'd like to pop in with an updated message however being upfront there is still no work planned to change or remove this behaviour.

    Right now as shared in my last update, you can enter a 100% VAT invoice by following the steps in this Xero Central article.

    This involves entering the invoice using two transaction lines. When entered this way, the invoice will:

    • show a 100% VAT total; and
    • have a 0.00 effect on the account code balance.

    *Both transaction lines will appear on the invoice PDF.

    We appreciate your feedback and understand the importance of being able to record these transactions accurately.

  3. I still don't understand why Xero rounds any amounts? Could we have an option to disable all rounding in Xero. I have just left MYOB after 10 years, they never did anything like this. I moved to Xero on advice from my accountant, starting to regret this! Leave it as an option for whoever is rounding stuff (very werid), but please give me a checkbox that totally disables rounding. Please!

    45 votes

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    20 comments  ·  Reporting  ·  Admin →
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  4. This is minor but annoying. I am working my way through a list of draft assets and when you register each asset Xero reverts to the registered list rather than returning to the draft list. This gets very tedious when you have a lot of draft assets!

    Conversely when you are disposing of assets it reverts to the disposed assets list when it would be more efficient to revert to the registered assets list so I can dispose of the next asset.

    4 votes

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    Appreciate the feedback on the little things that would improve your experience when working with Fixed Assets. I've shared this back with our product team. We don't have any immediate plans but we'll track the interest and share if there's any change planned.

  5. It would be great to be able to edit the detailed time report similar to how we can edit the P&L and balance sheet reports.

    We simply want to add a timesheet sign off area at the bottom of the report, which would be easy to add if that feature was available.

    1 vote

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     ·  0 comments  ·  Reporting  ·  Admin →
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  6. In Singapore, deemed supplies include free samples given to customers at no charge. If input tax was claimed on the purchase of these sample items, businesses are required to account for output tax when giving out the samples. Currently, Xero does not allow sales invoices to be issued at a zero value. As a result, if a sample is given at no charge, the sales invoice does not register any tax code. The workaround is to input a sales value and create a negative line item to ensure the invoice registers the tax code.

    The second issue arises when using…

    1 vote

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     ·  0 comments  ·  Fixed Assets  ·  Admin →
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  7. So we send a W9 request and a vendor completes it, great. But this doesn't create a digital W9 form, it just modifies the information in the vendor's 1099 contact page. So if an auditor requests a copy of a vendor's W9, we have nothing to give them. And it's possible to override the changes made by the W9 submission, so there's no way to verify - say a year later - that the information on their contact page aligns with the W9 information they submitted. The lack of static documentation makes this feature almost useless for us as most…

    16 votes

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    Hi there

    While we don’t create an exact replica of the form we’ve worked closely with our compliance team to make sure that if you are audited we can supply the information needed. We also cater for the event of W-9 information being overridden and needing W-9’s from previous years.

    In terms of getting the information for an audit - while we don’t offer a self service option at the moment - if you need it you can submit a request to our support team and we’ll provide what you need for an audit 😊

  8. I'm setting up a budget in Budget manager. Is it possible to budget that one expense line is a percent of another - eg Superannuation is 11.5% of wages payable?

    Makes life easier and saves errors with copy typing

    8 votes

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     ·  0 comments  ·  Budgets  ·  Admin →
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  9. For the existing Tax & reporting tile on the dashboard, it would be good if the Activity Statement included an indicator for when the next one is ready to be prepared and submitted.

    3 votes

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     ·  2 comments  ·  Tax filing  ·  Admin →
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  10. Xero calculates VAT on a line by line basis and rounds up at every instance. This leads to the VAT amount sometimes being more than a few pennies over the top of what it should be.

    I propose that Xero calculates VAT to 3 decimal places, which will mostly eliminate this over payment to the VAT man and overcharging our customers. Or it only calculates VAT at the end of the invoice.

    6 votes

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    0 comments  ·  Tax filing  ·  Admin →
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    Thanks for sharing this idea and the context behind it. We can see the value in increasing VAT calculations to 3 decimal places to help reduce rounding differences on invoices and bills.

    We’re moving this idea to Gaining Support so we can better understand how many customers would benefit from this and gauge the level of community interest. If this is important to your workflow, please continue to vote and share examples in the comments so we can better understand the impact.

  11. VAT 126 - small local authorities can reclaim all VAT. To do so they need to submit a 126 schedule, which is not currently available within Xero. The problem is that the supplier's VAT number cannot be included in transaction reports.
    The ability to produce the VAT 126 schedule would make Xero a very good option for the many parish and small town councils.

    12 votes

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    6 comments  ·  Tax filing  ·  Admin →
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    🌟 Thanks for sharing this idea, and for explaining the need for a VAT 126 schedule for local authorities and similar organisations.

    We’re moving this idea to Gaining Support so we can better gauge interest from the wider community and understand how many customers this would help. If this is something others need as well, we’d encourage them to add their vote and share more detail about how they’d use it.

    Your feedback helps our product teams understand where there are gaps and what changes could have the biggest impact, so we really appreciate you taking the time to raise this.

  12. existing threshold for Xero fixed assets is 500 - increase this to 5,000 to avoid having to use a separate app (which are clunky / expensive) to manage fixed assets

    19 votes

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     ·  0 comments  ·  Fixed Assets  ·  Admin →
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  13. Ramp credit card transactions should be excluded from 1099 reports but they are currently included.

    15 votes

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     ·  5 comments  ·  Tax filing  ·  Admin →
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  14. It would be great to have an option to run a sales report by item which includes draft invoices, delivery dockets, and purchase orders as well.

    For example, I tried to run a sales report on qty of each product sold for the financial year to date and realised this information was inaccurate as we had sold a significant qty as draft invoices (using draft invoicing in lieu of delivery docket functionality), these products were not included in the sales report.

    3 votes

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     ·  0 comments  ·  Reporting  ·  Admin →
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  15. Ability to add project financials rerporting into an advisor template report

    Being able to build a management report template that includes project financials seems like a no-brainer. but you can't do it at template level. You have to start with the existing template for a managmeent report and build a report from scratch for each client.
    You can't even take an existing template and add in a project report.

    3 votes

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     ·  0 comments  ·  Reporting  ·  Admin →
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  16. When a revalued asset is created (e.g. roads in a local government authority), it is essential that a revalued accumulated depreciation is also able to be added at the same time. This is a basic accounting requirement for councils when they revalue their various infrastructure assets.

    16 votes

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     ·  2 comments  ·  Fixed Assets  ·  Admin →
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  17. Withholding tax (WHT) in Saudi Arabia (-5%). Allow option to add negative tax rates in Xero.

    1 vote

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     ·  0 comments  ·  Fixed Assets  ·  Admin →
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  18. The sales tax report needs a filter for tracking categories for those filing under different store operations.

    3 votes

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     ·  2 comments  ·  Tax filing  ·  Admin →
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  19. I am a sole trader. I started using Xero to see how it helped with my taxes. The road has been... rocky. Largely because Xero largely ignores soletraders and their specific needs.

    For instance, Xero has no IR3 reports (NZ IRD) set up that we can use.

    And we can't have depreciation amounts at the same time as accounts in a report.

    We also can't limit which accounts appear in a report.

    For me, as a sole trader, I have wound up with personal and business expenses and income mixed in my bank accounts. I have also created personal accounts…

    1 vote

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     ·  0 comments  ·  Tax filing  ·  Admin →
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  20. Downloadable iXBRL formatted financial statements.
    It is required in South Africa for business with more than R 5mil (AUS$ 413k)

    Our economy will be great again

    4 votes

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     ·  1 comment  ·  Reporting  ·  Admin →
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