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1. Xero tax (UK) | Sole Trader Accounts - Ability to generate a report without a balance sheet

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   9 comments  ·  For accountants & bookkeepers » Xero Tax  ·  delete…  ·  Admin →
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   under review  ·  AdminHannah G (Admin, Xero) responded

   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 account code mappings and click through from the personal tax return to see the breakdown of the transactions which have been included. This workflow still fits in perfectly with our in-built e-Sign solution, Document Packs, also as the report generated within Xero can simply be published and included with the tax return to go out together for signature.

   There will be further enhancements to our direct integration from Xero to Personal Tax too, so watch this space

   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… more

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   Ehtesham Khan commented  ·  02 December, 2023  ·  Edit…  ·  delete…

   Balance sheet is meaningless for many small clients and does not need to be there.

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   Ehtesham Khan supported this idea  ·  02 December, 2023

2. Xero Expenses - VAT on mileage claims through expenses

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   submitted  ·  13 comments  ·  For small businesses » Accounting features  ·  delete…  ·  Admin →
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   Ehtesham Khan commented  ·  02 December, 2023  ·  Edit…  ·  delete…

   Why do you not have this function already, please do so ASAP.

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   Ehtesham Khan supported this idea  ·  02 December, 2023