Xero Reporting and Financial Analysis Flashcards

In Xero, which report would you use to see all transactions posted to a specific account during a period?

Answer: Account Transactions report

The Account Transactions report in Xero lists every transaction posted to a chosen account within a selected date range.

When comparing budget vs. actuals in Xero, which report displays the variance between the two?

Answer: Profit and Loss (Budget vs. Actual)

The Profit and Loss (Budget vs. Actual) report in Xero shows actual figures alongside budgeted amounts and the resulting variance.

A Xero user wants to see outstanding invoices grouped by how long they are overdue. Which report provides this?

Answer: Aged Receivables report

The Aged Receivables report groups unpaid customer invoices into overdue buckets (e.g., 0–30, 31–60 days).

Which Xero feature allows you to save a customized version of a report with specific filters and layouts for repeated use?

Answer: Custom report (saved)

Xero lets you save a customized report configuration as a custom report so you can reopen it with the same settings anytime.

In Xero's Profit and Loss report, which layout option groups income and expense accounts by tracking category?

Answer: By tracking category layout

The 'By tracking category' layout in the Xero P&L report splits results across the tracking categories you have set up.

What does the 'Cash Basis' option do when enabled on a Xero Profit and Loss report?

Answer: It reports income and expenses when cash is received or paid rather than when invoiced

Cash Basis reporting recognizes revenue and expenses at the point of actual cash movement, not when invoices or bills are raised.

A business has two tracking categories: Region and Product Line. In Xero reporting, how many tracking options can be applied to a single transaction line?

Answer: Up to two tracking categories

Xero supports a maximum of two tracking categories per organisation, and both can be applied to each transaction line.