Settings and activity
2 results found
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73 votes
Hi everyone, thanks for your interest in this idea. Although we haven't enabled the option to exclude a balance sheet from sole trader accounts within Xero HQ we wanted to share this very exciting update with you. We recently released a direct import of the P&L from Xero onto the self-employment worksheet within Personal Tax, without the need to map the account codes and generate a set of sole trader accounts.
Previously we only supported an import from Sole Trader Accounts to Personal Tax which for some of our partners involved an extra step, particularly for smaller clients who typically only receive Income & Expenditure accounts. We hope by adding this functionality that you will be able to maximise the more flexible reporting capabilities within Xero to produce accounts for sole traders. This new feature is not simply an import either, it also supports cash-basis, allows you to manage the…
An error occurred while saving the comment James Shepherd supported this idea ·
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21 votes
Hi team, thanks for our ongoing engagement. I can confirm we've started working on this. We're building the product so that it will be usable with personal tax, partnership tax and MTD IT in the future. We'll keep you update on the progress for this, here.
An error occurred while saving the comment James Shepherd commented
This is absolutely essential for any tax program worth its salt. Was incredibly surprised to find that it wasn't there when we made the switch from Iris. Needs to be implemented ASAP.
James Shepherd supported this idea ·
This should really have been done by now. It's such a simple thing to do and this comment is nearly two years old. Please enact asap.