We love working with Xero at JF Financial and the reporting functionality is one of it’s real strengths.

Xero have announced the launch of several reporting features that provide crucial financial information to small business owners at the click of a button. Granted, you may need to invest a little time in the set up, but that is something we can help you with.

The first feature is the ability to set up Header Groups in your Profit and Loss Report. By grouping together several expense or income accounts you will be able to create a summarised report highlighting the key financial information.

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Once you have created your group, you can assign individual accounts to nest under the group header.

Another great feature which has been launched is the ability to add formulas into your reports, for example if you wanted to calculate the percentage gross profit, partnership profit splits or Net profit before tax.

The final new feature is the ability to manually reorder your accounts, groups or formulas in any way you choose. So whether you are building a report to wow investors or simply give you the figures you need to understand where you finances are, the Xero functionality now gives you the tools you need to extract the data you need with minimum effort.

Xero are planning to launch many more new developments within the core financial reports which will continue to give Xero the edge in online accounting software for small businesses. We can get you set up with new software, provide training and ongoing support to make sure you are getting the most out of your accounting software.