Custom Report Within Xero

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Businesses typically set up accounting software mainly for tax purposes, which is perfectly fine. However, at times, different formats of Income (Profit and Loss) Statements are needed for other purposes, such as for internal performance review, submission to banks, or other analysis. We see business owners often export existing reports and attempt to cut and paste them to suit their needs. While it is acceptable to do so for a one-off report, time is a scarce resource which could be better spent on income-generating activities or ensuring smooth business operations.

Luckily there is a way to optimize the process.

Xero Accounting software allows users to customize existing reports and save them as templates for future use. This feature is very useful when custom reports need to be generated frequently. Users can make changes to columns (reordering, sorting, adding or removing), groups of accounts they have created or moved, and formulas they have added or edited. The process is relatively simple and can be achieved by following these steps:

  1. Go to the Accounting Menu and select Reports.
  2. Find and open the report you want to edit.
  3. Click Edit Layout to customize the report (located at the bottom left corner of the screen).
  4. Click Update the Layout once you finished (located at the top right corner of the screen).
  5. Save the report as a new Custom report by selecting “Save As” and then choosing “Custom” and giving it a new name (located at the bottom right corner of the screen).
  6. To access your saved Custom Report, go to the Accounting Menu, select Reports, and then Custom.

If you analyse your business with Bush Agribusiness, we can help you set up a custom report to provide the expense information you need to complete the business analysis template.  Get in touch with our Management Accountant Oudam at [email protected] or call 0418 871 057.

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