What you need to know about new reports in Xero

Jul 27, 2016

It has been over a year since Xero promised a new reporting engine to bolster its sometimes lacking reports; and this week, albeit abruptly, they launched the new platform. Watch the video on this page for a quick 3-minute intro into the new system or if you need immediate support contact us. Overall, we think it’s been worth the wait - here is what you need to know;

Layout Editor

The reporting system allows you to alter any report to do anything you want, by adding in new data, comparing, grouping or creating formulas. You are able to do this on key financial reports like the Balance Sheet and Profit & Loss.

Columns

You are now able to add in new columns into reports and define what date range each of them cover, as well as their title and order; giving you much greater control over how data is shown.

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You can also add in budgets into the P&L as you would notes. You also have much greater control over customisation of the time frame, titles & what they show.

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Comparing data is easier

Formulas are extremely powerful, and the reporting system allows you to calculate variances between any column you want on your report.

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Report Centre

The report centre has been completely rebuilt, so it can be a bit daunting the first time you login. It brings all reports (old and new) into a single place.

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Reports are now grouped into categories to make it easier to find. Starred reports still work as they did before for quick access; but you may find the new search feature within reports a bit quicker.

One thing we really did want to point out is that if there are more than 6 reports in a “group of reports” you will need to expand the group to see them all. This design feature has tripped up a few people already.

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Summary

Our first impressions are it’s very cool, and feels like 3 steps ahead for Xero then one. Compared to other platforms Xero has had poor reports, however this brings it to the a very competitive place again in the marketplace.

Xero is working to release more updates and features to the platform in coming months, which we will update here when they are released.

If you need any assistance at all - we are Xero Silver Partners, please call or email us (08 8922 0000) and one of our Xero trained staff will be more than happy to assist.



Tags: Bookkeeping, Xero
Category: Bookkeeping

Daniel Ladlow

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Director at Tropical Business Solutions