Improved Customised Reporting

The first blog in our WK Xero series, Xero's new reporting updates, and how they can improve your business.

While data provides the building blocks for financial information, the ability to sort, compare and analyse that data in a way which aligns with your business is key to providing useful financial information. As the saying goes, ‘what gets measured, gets managed’.

With Xero’s most recent reporting updates, you and our team at WK can now quickly and simply customise financial reports, enabling more meaningful analysis of your business’ financial data. New features include the ability to:

  • Add and compare multiple columns for any custom date ranges. Perhaps you employed a new manager and you want to compare your business’ performance under old management to new management, or a simple balance date change means you need to report a 15 month period against 12 months.

  • Add formula columns and rows, for example, you could report the dollar variance between periods and the percentage change (columns), and also profit as a percentage of sales (rows).

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  • Group account codes, for example, you might only want to see total administrative expenditure rather than each of the administrative account codes.
  • Move columns and rows where you want them to report.
  • These customised reports can also be saved as templates, so you can use them again. No need to reinvent the wheel!

    To see how this works and how you can create your own customised reports, check out the link below.

    https://www.youtube.com/watch?v=tUJQZn-SYv4