How to improve your business using Xero – the Business Performance Dashboard

How to improve your business using Xero – the Business Performance Dashboard

As we have done in previous editions of S & W Insight, we have more updates to help you with your use of Xero software.

If you are using Xero you should try setting up these simple dashboards within Xero to help you better manage your business. Here are some features of the business performance dashboard.

  • It displays a snapshot of your business’ financials and transactions recorded within Xero;
  • You can customise the dashboard to suit your needs – here is video on the Xero Dashboard that you can watch –
  • Below is a table showing the list of Dashboard panels that you can select from:
Total cashflow or Total cash in and out Keep an eye on cash going in and out of your organisation. This is based on figures in the Bank Summary report.
Business performance graphs If you, or someone in your organisation, has favourite business performance graphs, you’ll see them on your main dashboard under the heading Business Performance.
Account watchlist To display the Account watchlist panel, you need to edit an account in your chart of accounts and select the Show on Dashboard Watchlist checkbox.

The Account watchlist shows two balances:

This Month – balance posted to the account during the current month.

YTD – balance posted to the account for the financial year, to the end of the current month.

For balance sheet accounts, the YTD column will show a cumulative balance that includes all transactions posted to the account since you started using Xero.

Bank Accounts

When you add a bank account, you have the option to show or hide bank accounts on the dashboard.
Invoices owed to you A summary of the invoices owing to you, and how long they’ve been owed based on the due dates of sales invoices you’ve sent to your customers (essentially an Aged Debtors/Sales snapshot). Links through to the sales dashboard.
Bills you need to pay A graphical snapshot of the bills you need to pay, and when you need to pay them. Links through to the purchases dashboard.
Expense Claims Displays when you’ve added your first expense claim.

If you have any questions or need help with setting the dashboards on your Xero account please do not hesitate to contact our team.

Kreston Stanley Williamson Team

*Correct as of November 2018

*Disclaimer – this article has been produced by Kreston Stanley Williamson as a service to its clients and associates. The information contained in the article is of general comment only and is not intended to be advice on any particular matter. Before acting on any areas contained in this article, it is imperative you seek specific advice relating to your particular circumstances. Liability limited by a scheme approved under professional standards legislation.

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