We’re very excited to announce that Report Templates are available in Singapore and Hong Kong. This is a huge step forward in the future of cloud accounting. It’s going to change the way you work with reports completely. Once you start working with report templates, you’ll wonder how you ever did it the manual way for so long!
The old (time-consuming) way
In the desktop-based, disconnected world, an accountant would have many different clients on different chart of accounts. This leads to inefficiencies, with the need to move to standardised reporting. Usually to overcome this, you would have to create a custom report for each client, which could take hours. It also makes practice-wide reporting standards hard to enforce and inefficient. In today’s connected world, we want to offer our clients flexibility and standardisation at the same time. With report templates, you can now do this, creating huge efficiencies within your practice.
Welcome to the new frontier
By simplifying reporting onto one platform, Xero’s single ledger and report codes become even more powerful. The intuitive layout editor allows you to customise nearly any aspect of a financial report. This gives you the flexibility to create reports the way you want them, every time, anywhere. You can customise profit & loss, balance sheets, statement of changes in equity, cash flow statements, notes to financials, depreciation schedules, custom schedules — you can even add a custom report. These practice-wide templates are fully customisable. Move columns, create custom columns, rename things – whatever you like.
Report templates are a game changer for accountants, bringing unparalleled reporting power to Xero with the flexibility to suit any user. The freedom of customisation meets the efficiency of the single ledger system.
Work faster, better and smarter
Gone are the days where you have to spend hours moving data from one system to another. No more triple-checking and matching different copies of the same report! Now, you’ll never have to worry that someone is ‘looking at another version’. From now on, you, your practice and your clients will be looking at the same, real-time statements. This is the next generation of reporting.
You’ll now start to produce client reports quicker. You’ll also notice productivity and efficiency levels within your practice increase as you achieve more work in less time. What you use all that extra time for is up to you. You could focus on value adding services, build better relationships with your clients, or start taking proper lunch breaks again.
Your account manager holds the key
Give your account manager a call to request the Singapore or Hong Kong templates. Or you can simply use the layout editor to build your own reports to fit your clients’ needs. They can also advise you on the best way to create powerful management reports that can be applied across your whole client base. We recommend you and your team take advantage of the training opportunities available. They can help you make the most of report templates in your practice.
If you’re not registered already, save a place for you and your team members at your nearest Xero Asia Roadshow in March, or ask your account manager about future partner events.
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Source: Xero
