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Xero Transforms Accounting, Bookkeeping with Reporting Tool

Media Release


Xero Transforms Accounting and Bookkeeping with Powerful Reporting Tool


Customisable Report Templates across clients, saves hours


WELLINGTON, JULY 27, 2016 ¬ Xero (@Xero) today announced a significant update in its Report Templates for New Zealand and Australian accountants and bookkeepers. The release marks another innovation milestone by the Cloud leader in accounting and bookkeeping software for small businesses.


Report templates make it more efficient to run small businesses and practices than traditional rigid software solutions from legacy desktop vendors. The release will be made available globally and demonstrated live at Xerocon San Francisco and Xerocon South in the next month.


Xero Report Templates is one of the most powerful reporting tools, developed to give accountants and bookkeepers the facility to design customised reports and save them for future use as templates. This updated release comes complete with a number of predefined templates with almost unlimited power over the report templates that can be created.


The templates make it more efficient for the preparation and completion of year-end accounts for sole traders, partnerships and micro-entities by using Xero practice products like ledgers and cashbooks. By having all clients, regardless of size, on one platform this leads to streamlined management reporting for all types of clients.
Demonstrating the flexibility of Xero features, Xero Report Templates is the most sophisticated cloud based reporting tool on the market today and will provide practitioners with significant time saving. Designed in consultation with practicing accountants, Xero Report Templates help save valuable time and improve accuracy by removing the need for re-keying information.


With Xero Report Templates, it is now quick and easy to produce quality financial management reports. The report builder allows you to create custom report formats and then seamlessly connect to Xero data. The same report formats can be used from month to month and for all of your clients or you can have different financial statement formatted workbooks for different clients.


Report Templates features


• Practice-wide Reporting ¬- Reporting is based on Report Codes not individual Chart of Accounts, so reports can be run immediately across all customers saving hours.


• Intelligent and Flexible Reporting ¬- An in-built report codes mapping system which makes using your own chart of accounts easy for any member of the practice


• Dynamic Flexible Reporting ¬- Build a standard set of reports at a practice level, while also customising at a client level. Any changes made to standard reports ripple down to the customised client reports.


• Customisation - Layout editor with the ability to add text blocks, custom schedules, custom date/formula columns, and formula rows


Available free of charge exclusively to Xero accounting and bookkeeping partners, Xero Report Templates can be used across multiple clients, preventing repetition of work and saving valuable time.


Comments on the News


• “We have designed Report Templates to be intuitive and approachable, without sacrificing the features. This means partners can harness the power and time saving benefits of practice-wide templates, while still retaining the ability to customise the reporting outcome to the needs of the client,” said Oliver Furniss, GM Product Marketing at Xero.


• “Template Reports provides us with enough flexibility to negotiate a change to new reporting standards. We are now benefiting from the efficiencies of single ledger reporting which allows us to adhere to our professional reporting standards, while maximising efficiencies around a key compliance process. We have more time to add value to our clients and help them grow,” says Adam Davy, Partner, BDO.


• The new Xero Partner Reporting tools are an ideal way to prepare not for profit and charities’ financial statements which are often a vital way of communicating to funders and other stakeholders,” says Barry Baker at Grant Thornton.


• “Xero's Report Templates will ensure that financial advisors are getting their small business customers ready for the shift to cloud,” said Grant Anderson at Xero. “What’s more, reports can be created quickly and effortlessly, saving valuable time.”

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