Efficient Accounting with Xero

13

Running and Customizing Basic Reports in Xero

You have invoiced, posted, paid, been paid, and reconciled. Now that we have transactional data, we can produce reports in Xero to tell the story of how your business is operating. We will be able to see the revenues and expenses that give you your net income, as well as your cash balance, other assets, liabilities, and your equity accounts as of a given date. This gives you the ability to see your results and make sound, timely business decisions. Here we will discuss just how easy Xero makes it to produce reports such as the income statement and balance sheet. So, let’s jump right in and get at it.

In this chapter, we’re going to cover the following main topics:

• Producing the basic reports ...