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4 results found
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278 votes
Hi everyone, we know that consolidated reporting for multiple Xero organisations is a feature many of you are invested in, and we appreciate you continuing to share your feedback and insights on this idea.
We hear that you need a more streamlined way to manage group budgeting, produce consolidated Profit and Loss reports, and handle intercompany transactions without the need for manual exports and external spreadsheets.
For those looking for solutions right now - As shared by others there are Xero app partners that possibly serve these and wider needs, and you can explore on our Xero App store.
We want to be transparent about the current state of this idea. While we continuously evaluate all ideas, work on developing consolidated reporting is not currently planned.
We know this isn't the news many of you hoped for, especially given how long this idea has been on the platform. We value…
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113 votes
Thanks for sharing and engaging with product ideas here. We appreciate the desire to run more reports in Xero in a different currency.
To confirm what is currently available in Xero for multi currency reporting - Right now the aged reports will run in the organisation's base currency. However, for any invoice or bill that has been created in a foreign currency you'll see an icon next to that line in your report which provides notation of the exchange rate details, and these will all be listed at the bottom of the report.
With the Payable and Receivable summary and detail reports you can add an 'Original currency' column along with other foreign exchange details.
It's also possible to add a filter to these reports to only show invoices of a particular status for example Awaiting payment.
I know this doesn't accomplish all that's being asked in this idea and…
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Jarvin Ong
commented
Since Xero says this isn't planned near term, thought it might be helpful to bring up our solution. I run Cheetah (https://cheetah.report) and we build custom Xero reports.
An aged payable report in each bill's original currency + potentially a full drilldown is a good example.
@Paul: If it's for a financing requirement, it can also follow whatever layout the lender wants as our reports are custom-built.
Happy to help if this sounds useful to y'all.
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220 votes
Hi community, thanks for all the energy and great conversation on this idea. We recognise the passion for making reporting in Xero better for your needs.
Wee understand that rebuilding report templates for each individual client or entity is time-consuming, and the current option of using Report Templates in Xero HQ mapping of the chart of accounts can be tricky to apply to different client files. However, we want to front foot that enabling the ability to transfer reports across practices or organisations isn't planned in the near term.
We'll continue to review and consider this idea in the longer term and if this work is picked up will be more than happy to share an update with you all, here.
An error occurred while saving the comment Jarvin Ong
commented
Full disclosure, I run Cheetah (https://cheetah.report), a Xero-certified reporting app so weigh this accordingly. Since Xero says this isn't planned near term, thought it might be helpful to bring up our solution.
We build a firm's custom report once as a systemized template, and then it runs across every client entity in one click, straight from each org's Xero data into Excel or Google Sheets. So a new client means connecting the org, not rebuilding the layout. It won't put the report inside Xero itself though, but it does stop the rebuild-per-client cycle.
It's currently supporting a few accounting firms that we work with, especially those that specialise in specific verticals and want to roll out bespoke reports for clients in the vertical.
Just reach out in the link above if it sounds relevant to you. Happy to show anyone how it works.
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275 votes
Hi everyone, thanks for sharing your feedback on prepayment and accrual schedules. We appreciate you explaining how important this is for your month-end processes and workflow efficiency.
I’d like you to know your idea's been carefully reviewed by our product team. They appreciate and understand the need for tracking revenue and expenditure related to prepayments and accruals, however at this time with other initiatives in the roadmap such as improving the bill creation and payment processes there are currently no plans for this in the pipeline.
We’re keeping a close account of the support in this here, and will continue to review this opportunity within future planning. If there’s any progress made I’ll be sure to share with you all, here.
An error occurred while saving the comment Jarvin Ong
commented
Full disclosure, I run Cheetah (https://cheetah.report), so take this with that in mind. Since Xero has said this isn't on the roadmap, one way we've been helping firms is building the prepayment, accrual and deferred revenue schedule straight from Xero bill and invoice lines.
Each line gets its start and end dates and is spread straight-line by month, and you get the balance sheet roll-forward and the monthly release amounts laid out like your working papers, so it's no longer a hand-maintained spreadsheet.
It covers the revenue side too (@Amy), and the same template works across all your client entities. It's already powering the internal workflow of a couple of accounting firms we work with. Dropping the link here in case if anyone wants to learn more: https://getcheetah.io/bookkeeping-schedules
Happy to show anyone how it works too. Just reach out!
@Ruvan, nice work on the add-in, it's great to see more options here!
Disclosure first: I run Cheetah (https://cheetah.report/consolidation ), which builds custom reports on Xero data.
Slightly unpopular take, but having done consolidations for quite a few groups, I've yet to see two do it the same way. Might just be my luck.
So I can see why Xero is reluctant to build something that only fits a subset of users. Every group has its own business logic.
That's why I custom-build each group's consolidation around how they actually run it. If yours is straightforward, Syft or Fathom will do the job well. Where off-the-shelf tools struggle is custom FX rates, your own way of eliminating interco, or a group chart of accounts that maps differently to each entity.