Reports & tax

4 results found

1. Balance Sheet Tracking Categories

   Xero has tracking categories for Profit & Loss reporting.
   Our single entity charity uses tracking categories to produce a profit and loss report by fund where the fund type is an option within a fund category.
   We need the same for the balance sheet to produce a balance sheet report by fund on an ongoing basis.
   For example, income and expenditure transactions on a bank account can be tracked, but not the bank account balance itself. Ditto for liability accounts etc.
   This would also need a tracking option/field on manual journals.

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   2 comments  ·  Reporting  ·  delete…  ·  Admin →
   Existing functionality  ·  AdminDavina Roper (Admin, Xero) responded

   Thanks for raising this and Im happy to say this functionality is already available in Xero. You can use tracking categories and options to report on your Balance Sheet by fund, in addition to using tracking for Profit and Loss reporting.

   To view the Balance Sheet by fund:

   1. Set up your fund type as a tracking category, with each fund as a tracking option.
   2. Ensure the relevant transactions are assigned to the appropriate fund.
   3. Open the Balance Sheet report and use the tracking filter to select the required fund.

   When creating a manual journal, you can also select the relevant tracking category and option on each journal line. This allows the journal entries to be included in reporting for the appropriate fund. Tracking is also available when importing manual journals using the tracking fields.

   Please note that some system accounts, such as bank, accounts receivable and accounts payable accounts, may have restrictions on direct manual journal entries. Xero uses the Tracking Transfers account to help keep the Balance Sheet balanced when it’s filtered by tracking.

   You can find further guidance in Assign tracking options to transactions, Add, import and post manual journals 😊

   Thanks for raising this and Im happy to say this functionality is already available in Xero. You can use tracking categories and options to report on your Balance Sheet by fund, in addition to using tracking for Profit and Loss reporting.

   To view the Balance Sheet by fund:

   1. Set up your fund type as a tracking category, with each fund as a tracking option.
   2. Ensure the relevant transactions are assigned to the appropriate fund.
   3. Open the Balance Sheet report and use the tracking filter to select the required fund.

   When creating a manual journal, you can also select the relevant tracking category and option on each journal line. This allows the journal entries to be included in reporting for the appropriate fund. Tracking is also available when importing manual journals using the tracking fields.

   Please note that some system accounts, such as bank, accounts receivable and accounts payable accounts, may… more

2. Filter Account transaction on Account TypesAccount Transactions - Filter report data by Account Types

   When running the account transactions for a nominal ledger, have a quick filter option for 'Account types' as shown in the Chart of Accounts (Revenue, Fixed Assets, Direct Costs etc.)

   When running the nominal reports for P&L codes I have to manually select/ deselect codes.

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   0 comments  ·  Reporting  ·  delete…  ·  Admin →
   Existing functionality  ·  AdminAnis Anuar (Admin, Xero) responded

   Hi Connor, the ability to filter Account Transactions report by Account Type is already available in Xero. In the Account Transactions report, use Filter to select account types such as Revenue, Expense or Assets.

   You can also use Group/Summarise to organise the results by Account Type.

   As this meets the request, we’ve updated the status to Existing Functionality and closed the idea for voting. If I've misunderstood you, feel free to reach out.

3. Reports - Voided invoices have a currency value on the Receivable Invoice Summary

   It could be a glitch or just how the reports work, but Voided Invoices that were voided with a currency value in them, appear on the Receivable Invoice Summary with that value. So Invoice INV-45831 was for £123.00 but was voided. You can now no longer edit that invoice and in this report it eternally has the value of £123.00.

   This is an issue as the data is downloaded to extrapolate many different analysis for sales data.

   A bad fix after the data has been downloaded is to try filter and take out the ££ and change the data after extraction to £0 on all voided invoices.

   Where this is not practical is when you use look up functions in excel to adjust a master sales record buy looking up onto the data from xero extracted daily. That look up will constantly return the £1234 value of a voided invoice of the source data from Xero.

   You can then only change the master record to £0 taking the formula out of the cell. But each time the formula is updated for the cell range - this again means all the £1234 values pop back up and you go round the circle again.

   The only real fix is to stop the Xero data containing a value for voided invoices. So you need to be able to edit them or they should show £0 value in the invoice reports.

   It could be a glitch or just how the reports work, but Voided Invoices that were voided with a currency value in them, appear on the Receivable Invoice Summary with that value. So Invoice INV-45831 was for £123.00 but was voided. You can now no longer edit that invoice and in this report it eternally has the value of £123.00.

   This is an issue as the data is downloaded to extrapolate many different analysis for sales data.

   A bad fix after the data has been downloaded is to try filter and take out the ££ and change the data after… more

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   0 comments  ·  Reporting  ·  delete…  ·  Admin →
   Existing functionality  ·  AdminKelly Munro (Community Manager, Xero) responded

   Hi Sally, thanks for your feedback and sorry it's taken so long to come back to you here. While Voided invoices are included in the Receivable Invoice Summary report, you can add a filter within the report for Status to only include those that you'd want to see in the reports results. This way you could leave Voided unchecked.

   To save you having to set the report up each time you could then save the report as custom.

4. Aged receivables summary - Add due date

   Could we please add the 'Due Date' option to the Aged Receivables Summary Report. I love the simplicity of this report versus the Detailed report but unlike the detailed report, there is no option to add the due date.

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   1 comment  ·  Reporting  ·  delete…  ·  Admin →
   Existing functionality  ·  AdminKelly Munro (Community Manager, Xero) responded

   Hi Jodi, sincere apologies for not rounding back to you here. I appreciate your feedback and would like to confirm that it is possible to achieve what you're after using the Receivable Invoice Summary report.

   In this report you'll be able to set whatever date range you'd like to view, and select all 8 columns that are shown in the Awaiting Payments tab of the Invoice list (the only detail that is not possible to add is viewing if the invoice was sent).

   You can also add a Filter for Status and select Approved to only see invoices that are awaiting payment. 🙂