Our team hit the ground running in 2023, introducing a number of exciting features to new reports that we know you’ve been waiting for — including the addition of foreign currency to new reports. Here are some of the highlights and a sneak peek into what’s coming next.
| Don’t forget, the older versions of our reports will be retired on 31 July 2023. We urge you to start using new reports now, so you have plenty of time to get used to them before the older versions are retired. |
The biggest releases so far this year
Foreign currency in new reports
We’ve recently added foreign currency to new reports. If you have a Xero Premium plan and have added a foreign currency to your settings page, then you can jump in and give it a go.
- Balance Sheet, Profit and Loss (Income Statement) and Budget Variance reports:
- We’ve added the ability to translate these reports into any currency enabled in your organisation, for a quick view of your financials in the currency of your choice
- Receivable and Payable Invoice Summary and Detail reports, and drilldowns from Income by Contact and Expenses by Contact reports:
- We’ve added the ability to see transactions in the currency they were created in, to help you get better insights into your sales and purchases in foreign markets
- See how Xero has translated foreign currency to base currency, by reviewing both amounts side-by-side, with new column names that show the base currency code (such as NZD)
- Use these reports to filter, group and sort data by currency, so you can focus on particular markets, as well as understand customers and suppliers in those markets
Other releases
- We introduced a new Bank Reconciliation Report pack, to help you identify any missing, deleted or duplicated transactions in Xero
- We added brand new General Ledger Summary, General Ledger Detail, Journal, Current Financial Year by Month – actual and budget, and Realised Gains and Losses reports
- Global settings was released (US only), allowing you to set preferences for specific organisations such as the default accounting basis, decimals, account codes and more
- We made a number of enhancements to Aged reports:
- The current column in Aged reports is now automatically hidden when it’s empty
- Aged reports now run at the end of the current month by default, instead of ‘as at’ today’s date
- Invoices that fall on the report’s date are now included in the first ageing bracket, instead of the current column
- There is now an additional option in the ageing periods dropdown menu that lets you return the report to how it was before the change
- We added a number of new reports to report templates in Xero HQ, including:
- Cash Summary and Executive Summary reports
- Tax Disposal Schedule and Tax Depreciation Schedule reports (Australia only)
More reporting features on the way
We’re working hard to deliver even more features in the lead up to the retirement of older reports on 31 July 2023. Here’s a sneak peek into our plans.
Coming soon
- The old CIS Payment and Deductions report will be retired on 24 April 2023 — all features from this report are now in the new CIS Contractor report (UK only)
- Global settings will be introduced to all other regions
- You’ll be able to filter tracking categories and compare two tracking categories side-by-side, without going into the layout editor
- We’ll introduce a brand new General Ledger Exceptions report
- We’ll add a new budget selector dropdown menu in the Budget Variance report, so you can see the information you need without going into the layout editor
- We’ll introduce Pool Summary and Pool Detail reports to report templates in Xero HQ (Australia only)
Coming next
- We’ll improve your bank reconciliation, by allowing you to input the bank statement balance and view reconciled statement lines in the Bank Reconciliation Summary report
- We’ll introduce the ability to see transactions in their original currency in the Inventory Items Detail report
- We’ll start looking at introducing a new version of the Bank Summary report
Get ready for 31 July 2023
To help you prepare for the retirement of old reports, we’ve added a new tag saying ‘Older version retires 31 July 2023’ on the reports that won’t be available after this date, as a reminder.
| Don’t forget to replace your favourites in the report centre with the new version of that report, as you’ll only be able to favourite new reports in the months ahead. |
We’re always here to give you a hand if you’re not sure how to get started. Check out our reporting playlist on YouTube, visit the tips and tricks panel in our most used reports, or reach out to the team at Xero Central if you need support.
The post A sneak peek into what’s next for reports in Xero appeared first on Xero Blog.
Leave a Reply