Xero Reports

Question 1

Describe Profit and Loss Report

Answer 1

shows your organisation’s net income, by deducting expenses from revenue for the reporting period

Question 2

Explain Trial Balance Report

Answer 2

a list of the accounts in your Chart of Accounts and their balances for a chosen month.

Question 3

Describe Aged Receivables Report

Answer 3

the sales invoices that were awaiting payment during a selected month and several months prior.

Question 4

Describe Aged Payables?

Answer 4

bills and expense claim payments that you currently owe and how long they have gone unpaid.

Question 5

Describe Bank Reconciliation Report?

Answer 5

how your actual bank balance and the balance of the bank account in Xero match

Question 6

Describe the GST Reconciliation report

Answer 6

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.

Question 7

Reports Pathway in Xero is?

Answer 7

Accounting-Reports

Question 8

what tabs will hold reports created by you or someone else in your organisation.

Answer 8

The Drafts, Published and Archived tabs

Question 9

Can all reports be edited?

Answer 9

No

Question 10

How can you customise reports, what can you add/do?

Answer 10

adding text which will appear at the top or bottom of the report, adding schedules, inserting rows, and inserting columns

Question 11

In Xero’s newer reports, you can change what?

Answer 11

refine your report settings or apply filters as well as edit layouts. You can also arrange columns and add text blocks.

Question 12

how do you select/deselect columns you want to see on Xero reports ?

Answer 12

Select the checkbox for each column you want to show on the report. Clear a checkbox to hide a column

Question 13

Change layout option can be found it the?

Answer 13

“Edit layout” option at the bottom left):

Question 14

How many reports are there in Xero

Answer 14

over 40, with 7 groups

Question 15

what does accrual mean?

Answer 15

Revenue earned and expenses incurred

Question 16

to run a custom report you go to..?

Answer 16

Accounting > Reports > Custom tab.

Question 17

how do you Publish a report within the report itself?

Answer 17

Within a report, click Save as > Published. Or if you see a Publish button – click this instead (available in some reports).

Question 18

How do you publish a draft report?

Answer 18

Accounting>reports>Draft Tab>Click 3 dots icon on right>select publish

Question 19

What format can you export xero reports in?

Answer 19

PDF,
Google Sheets,
XLS and XLSX formats. (excel)

Question 20

Where can reports be exported from?

Answer 20

Drafts tab,
Custom tab,
Published or Archived tabs,
directly from a report.

Question 21

how often are GST returns filed with Inland Revenue by the registered entity (company)?

Answer 21

on a monthly, two-monthly or six-monthly basis

Question 22

The GST Return is shown under the ……….. section of the Reports Home tab.

Answer 22

Taxes and balances

Question 23

Pathway to create a GST return in Xero is?

Answer 23

Accounting > Reports > Taxes and balances section > GST Return.

Question 24

If you are on Payment Basis GST, it is recommended that GST returns are not prepared until all ?

Answer 24

statement lines are reconciled, as this may affect your GST return.

Question 25

What are the three ways you can submit your GST return to IRD?

Answer 25

Directly from Xero
Copy info from Xero gst report onto paper gst return and post
Copy xero gst report onto IRD online GST return