- Profit and Loss report – summarising wages for staff and directors for January, February & March
- Balance Sheet – 3 schedules - VAT deferred, cash position and drawings available to you.
- Potential cash burn report
- Cash flow report showing cash spent for the quarter of April, May and June
- Outstanding invoices and bills
- App report highlighting the importance of real-time information
Business Loan Pack
Collates all the essential information you need to apply for a business loan. This report template includes:
- Profit and Loss showing a 3 year comparison
- Balance Sheet showing a 3 year comparison
- Year-to-date Profit and Loss report
- Year-to-date Balance Sheet
- Aged Receivables Detail report
- Aged Payables Detail report
- If customer credit limit function used and the credit limit has been reached you can set Xero to prevent invoices from being sent to ensure customer is forced to pay
- Xero Projects - add staff and time to existing projects, currently it will only allow you to use duration.
- Short term cash flow feature – interactive tool visually projects bank balance for the next 7 – 30 days based on the impact of invoices or bills to be paid in that period giving better financial information
Paying Bills Is Set To Become Effortless!
Xero have partnered with TransferWise to allow a simple, automated bill payment solution directly in Xero. It is currently being rolled out and is FREE until 31st July 2020 allowing you to use it and see if you think it is worth paying for.
If you have to pay a lot of bills this functions would save time and energy! Give it a go whilst it is free.
*Please note, the bank details of the suppliers need to be set up in the contact section to enable this feature and this is only available on sterling transactions.
If You Don't Use Hubdoc, Why Not?
Hubdoc is Xero's receipt and purchase invoice capture tool that converst them in to usable data and sends them to Xero.
It simplifies the process and saves time!
Hubdoc uses OCR (Optical Character Recognition) technology to analyse your receipts and purchase invoices for useable data.
When you upload your receipts it converts that data into digital files, ready for export.
There are some companies that it 'auto fetches' meaning that you set up access details and Hub Doc goes and fetches the invoice for you. No logging in and downloading the invoice any more!