How to customize your accounts?

As you know Xero provides a broad range of your standard and not so standard accounting reports what we’re going to go through in this session is how to take those reports and customize them to make them suit your business so to get started with customizing our reports we want to go to reports and all reports and this will bring up the standard reporting menu, now you remember when we went through the overview training reporting and there are a few different areas to this there was the summary which is what we Renia the custom reports which was we were going to be saving our reports we make today advisor which is that all the advisor account type reports, we don’t tend to deal with and then you want to imagine a bit of a line because from there we get into the different types of reports which are the draft reports, the publish reports ,so these are more date driven these are more like a report types on these three here and these are the specific outcomes draft published in archives, so if you click on do your summary reports will pick the most popular one which is their profit and loss report. We are going to show you how to customize this. Hence, the standard profit and loss when we went through our reporting training, you recall how we had these report filters that we could edit, and that was pretty cool and nice to know, so if we took a look at this month and looked at a few previous periods we can look at three months of profit and loss, for example, July and June, May, April all the way up we could even choose whether we chose it and broke that down by office or not and a few other no clever things like that but what we didn’t get into it, how we customize this, so I’m going to show you how to do that now.

Now we can change the name of this report and so you might prefer to call this a profit and loss statement, if you hover over a profit and loss like so you’ll be able to edit title, nice that’s pretty easy a similarly if you want to edit the values you can click hover and click Edit here but  people find it a bit hard to see sometimes we’ll turn of leaking a scroll right the bottom and click Edit layouts this is where we’re going to be spending most of our time so we’ve decided that we want to change the layout of this report and we’ve got quite a few options available to us and here we’ve got three different columns as you can see and I’m gonna and we’ve got a bit of a menu at the top so this is Xeros new reporting tool and it’s only available for those reports that say new Nicks of them,okay so they’re all eventually going to look like this and even at the time of this recording most of them are available, so what we have here is a bit of a P&L as we usually would have it, but it’s a lot more interactive because some of the things we can do ,we can click and drag for example the order of things so that’s pretty easy but as you can see it’s pretty intuitive because you just click and move your currency gains to the bottom there for example but that’s not all because one of the other things you can do is you can group things up so it’s an actual common request we get.  

All we did there was, click on the one you know-how down the command button or the control button if you’re a PC user and collect multiple. You like as many as you’d like and unclick them to deselect, so in one scenario in my group, Apple my travel and on there are we might group up my travel. On the right-hand side, we could group selection and call that total travel or just travel great it’s going to ask me whether it’s debit positive it will create a positive you’re not sure what that means it’s a good time to do this with your accountant so talk about some ways you could simplify or expand out or drill down into specific areas of your business you keen on. Yeah, we want to Debit. We’ll be able to help you with this, so our expenses are typically debit, our revenues are typically credit when you’re dealing with am dealing with a profit and loss statement. Still, it does change report to report, so do ask. So I’m going to click our group selection, and we won’t get into switch rules just today, but as you can see there closed out of my report. Here we go. Let me edit that again. We haven’t actually coded anything to travel so this won’t be visible and the one we’ve got that group that up and we’ll call that a type of travel just travelled with an A excellent okay and that’ll be a handy slight drop down, now so I’ll try to find something that’s a bit more relevant to us so we might pick out all the things that are kind of building related perhaps so telephone and here’s maintenance if it’s of buildings and we’ll go with rent actually telephone what else we have so office we’ll just group out building off the printing, stationery, office, light, power, heating up skip repairs,we mean it’s telephone isn’t it and rent obviously cleaning it sounds pretty good, so these are our kind of building related costs, we mean a group all these up and I’m gonna call these building costs like so it’s just to move them all under that one heater there it’s pretty tidy might have some start related ones as well so we’ve got salaries, KiwiSaver employer contributions that’s about it put my group those up and call those staff expenses so you come up your own hitters and pretty quickly as you can see now to save that and you want to click done and that would take you back to the original document like so tour so we still have our P&L here as you can see it’s called a profit and loss statement instead of profit and loss and  we have here doesn’t look like we’ve actually incurred too much of those other costs so I can’t show you what that looks like but you need to take my word for it that if we had include some staff expenses that would be titled under staff expenses . 

So we’ll get back to editing our layout. We’ll show you a few other nifty things we can do all right cool so you can add, and we’ll go from left to right now. You can add in the text so we and suit some text example you can put in a hidden or a description or some expansionary note – or a note and put in your text here so that’s in it’s going to be hardcoded. You can use anything you like, but if we save that would display with a report that we’ve prepared, this might be an excellent opportunity to add in narrations for the periods. It’s fantastic that’s an excellent example of a text field you might insert alright. Okay, the next one is a bit of a schedule to add accounts to the schedule. All this is a bit of a, so you might summarize stuff up here and then add the detail into a schedule. It just allows our readers to view the high-level information up here, and then we could do a schedule for building costs, you can add an account and put in repairs etc., rent and insert just that information that relates to building costs, so that’s a shuttle here we have a row so if we add in a footer this would be another maybe like we could do one so one in a VAT for expansion footer cool so yeah similar to a text field there okay now here’s some of the cool things this is a row let’s insert a row. We can have two options that is we can add a group so that we can group this. It’s a manual way of grouping that selection we did earlier, so if you do total and can we’ll do other Revenue, what made it create a positive because of its Revenue and inside here or group.

We want to trash that’s no one here. Okay, let’s grab that selection, so other revenue interest income will rip that as other revenues create a positive, and that’ll do. Now we’ve got will put it at the bottom as well okay so let’s inserting a group now this is the paradigm quite excited about the formulas, so still really days for formulas, but here’s an example of some of the stuff you can do with formulas now absolute standard one people like to see inside their profit loss it hasn’t been possible we know a lot of accounting systems today is the ability to insert formulas into your reports so here’s an example we’re going to call this Christ’s profit percentage and what we’re going to do is under this insert button we’re going to insert some fields now you notice it’s entirely a limited at the moment so you only have these four fields to work out but any combination of those fields you can insert the formula. It’s going to calculate for you, so gross profit percentage as we know is a closed profit divided by trading income there you go, so okay done, and you’ll see what we mean.

 So now that we’ve ended that report we now have a formula that’s going to calculate on this report itself across all those months here’s that gross profit percentage and it’s 0.3 negative ten eighty eight percent fifty percent so that’s a pretty excellent example and it’s going to use at that layout I’ll give you a few more examples now, if we go into net profit and we can go and insert another formula and we’ll do round we can do any profit percentage or something for that if it acts over here and ratio or something like that so Nick percentage and we can say that it’s  your profit, see you can actually group up anything you group up you’ll notice pops into this which is pretty enough data so any profit over Nick’s house trading income there we go cool so that’s a formula as well lovely now and it’s in certain accom so see in this column some people like to include variants versus actual or previous period this period that sort of thing we can have the same set of options around the budget the notes in the office so we’ll show you a few of these offices actually you’re tracking category, now if you insert a tracking category we can make this just for the north island so it’ll be profit for the North Island and we can compare that with the total profit or we could remove some of these like so and you can completely change this might be total profit call this total profit and we can break that up and suit some rows pretty quickly like so and so got north island what else do we do North Island to sell Poland so might just go north in south Finnell and yes so now we’ve got a total profit North Island in South Island you’re not gonna sum up those so or wouldn’t see it the others as well office Australia, Indonesia here we go fantastic so those four if everything’s assigned it those four should add up to total profit no just click and drag that around you can see quite unsure once you get used to it .

We can insert the other things like a budget. You can pick which budget if we had more than one, we could pick budget related to, and it might be revenue budget, for example. So we’ll get rid of there for now excellent we can suit a formula in here so it could be a variance call it a variance and variation you might have your own for example we might if we insert that budget again we haven’t finished there that’s alright here we go budget so yeah we  might have my total profit and we have our budgeted profit for example budgeted expense and we call this total here we go  that’s my budget and in my very variance Koreans percentage other example of came across we can also add notes and line by line that’s really good because it ties in with your footers so at this in here you might go here’s my explanatory footer dear number one and you can say that’s number one and number two we don’t have a number two it just means that if people are interested in this line level here direct sales they can come down to the bottom and view any explanatory note that cedar expels were up by 33 percent on last month or something to that effect so it’s pretty cool and what haven’t we done yet office formula budget date, we think we’ve done all of that so this would just be if you wanted to insert another another month better we don’t at all, so I’ll leave there’s  it’s gonna be pretty Missy but we’ll call that done okay ideally that would be multiple profit-and-loss custom reports that we were billed for different people different purposes to make different decisions okay.

Now how do we save this report because? We don’t want to build this every month because we’ve put a lot of effort into preparing this, so we want it done come down to the bottom here. We’ve got a few options. No, we’ve always been able to draft or a public draft report like where you do any other transactions. Then you know how there have you reviewed and published it before we send it around and have people log in and view it. We will show you how to save this as a custom report, so I’m going to call this and profit and lose Ruben’s Pro profit and loss it’s a bit. You have the opportunity to make this the default view on this report now. Keep in mind this is not just for you, so anybody running in profit and loss if you click this box of a profit and loss, so I’m not going to take that. Still, you are welcome to if you put a bit of effort into and prepare. So now that we made that my default view if we haven’t made that our default view, but if we want to go and find this report again and reports and a custom we, Ruben’s pro profit and loss and we can add that to my favourites here if we come back to my summary. We open that out. We should get there on my favourites reports Ruben’s pro profit last there we go so you can customize all these favourites here, you can make unique to you. That’s pretty cool, alright. So one of the last things I’ll show you is how we can many people want to know how to get these out of Xero and to like Excel or something like that if they need to and do fancy graphs and things beyond what Xero do. So at the bottom of every report you always have an export option and there are three options available print PDF that will print you a pretty F in it so it’s pretty it’s pretty good-looking as you can see and it’s got all the information that you included in your report in it that’s a good option, option number 2 excel that’s for people they have excel that’ll open up an Excel spreadsheet for you like so there we go just like that okay so you’ll be fall from pretty familiar with it and the last option is Google sheets it’s only suitable if you have a Google account actually no we don’t think we even need a Google account looks like it’s opening anyway no it has logged me and so yeah you all need a Google account for this but most people do have one , so that was how to customize your report inside your Xero as you can see there’s a lot of different things we can do now to the standard see reports within our Xero, we can save them as custom reports and share them with other people a lot easier and make them a bit more meaningful to us so hopefully, you found that worthwhile.


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