Xero Reports Flashcards
Describe Profit and Loss Report
shows your organisation’s net income, by deducting expenses from revenue for the reporting period
Explain Trial Balance Report
a list of the accounts in your Chart of Accounts and their balances for a chosen month.
Describe Aged Receivables Report
the sales invoices that were awaiting payment during a selected month and several months prior.
Describe Aged Payables?
bills and expense claim payments that you currently owe and how long they have gone unpaid.
Describe Bank Reconciliation Report?
how your actual bank balance and the balance of the bank account in Xero match
Describe the GST Reconciliation report
an online worksheet for the GST portion of Inland Revenue’s GST and Provisional Tax Return form. It shows the amount of GST owing by or to your organisation for the GST period being reported.
Reports Pathway in Xero is?
Accounting-Reports
what tabs will hold reports created by you or someone else in your organisation.
The Drafts, Published and Archived tabs
Can all reports be edited?
No
How can you customise reports, what can you add/do?
adding text which will appear at the top or bottom of the report, adding schedules, inserting rows, and inserting columns
In Xero’s newer reports, you can change what?
refine your report settings or apply filters as well as edit layouts. You can also arrange columns and add text blocks.
how do you select/deselect columns you want to see on Xero reports ?
Select the checkbox for each column you want to show on the report. Clear a checkbox to hide a column
Change layout option can be found it the?
“Edit layout” option at the bottom left):
How many reports are there in Xero
over 40, with 7 groups
what does accrual mean?
Revenue earned and expenses incurred
to run a custom report you go to..?
Accounting > Reports > Custom tab.
how do you Publish a report within the report itself?
Within a report, click Save as > Published. Or if you see a Publish button – click this instead (available in some reports).
How do you publish a draft report?
Accounting>reports>Draft Tab>Click 3 dots icon on right>select publish
What format can you export xero reports in?
PDF,
Google Sheets,
XLS and XLSX formats. (excel)
Where can reports be exported from?
Drafts tab,
Custom tab,
Published or Archived tabs,
directly from a report.
how often are GST returns filed with Inland Revenue by the registered entity (company)?
on a monthly, two-monthly or six-monthly basis
The GST Return is shown under the ……….. section of the Reports Home tab.
Taxes and balances
Pathway to create a GST return in Xero is?
Accounting > Reports > Taxes and balances section > GST Return.
If you are on Payment Basis GST, it is recommended that GST returns are not prepared until all ?
statement lines are reconciled, as this may affect your GST return.
What are the three ways you can submit your GST return to IRD?
Directly from Xero
Copy info from Xero gst report onto paper gst return and post
Copy xero gst report onto IRD online GST return
