We have heaps of stuff here.

  • Example financial statements
  • Checklists
  • Templates
  • Video links
  • FAQs
Donnie Buchanan,  Founder
Donnie Buchanan, Founder

Youtube Channel

We often post new material on our Youtube channel.

We also post new offers and beta testing options.

Click on the image below.

Time Saving Guide - Our Value To You

Here is our time saving guide.

We have a 3 minute rule.

We prove it in this video.

If it takes you over 3 minutes to go from reports tab to downloaded PDF, then we want to know why.

If it takes you over 5 minutes to do this, then you must be doing some extensive customising.

If you are taking over 10 minutes, something is seriously wrong.

Example Financial Statements

Trading Trust

With Summarised Balance Sheet and Detailed Notes

Here we have a set of financial statements of a large trust that trades, owns investment properties, has many loan accounts, both secured and unsecured, has intangibles, has 10 beneficiaries and a corporate trustee.

Producing this report took 2 minutes to go from reports tab to downloaded PDF.

How long does it take you?

Download here.

Trading Trust

With Detailed Balance Sheet and Note 1 only

Here we present the differences between a large master report template but with:

  1. The Balance Sheet shows ALL accounts (Detailed Balance Sheet)
  2. The Notes To The Financial Statements are just text with NO balances

Please keep in mind, we can build your templates so you can remove / add / edit reports to suit each client.

Download it here.

Trading Company

With Summarised Balance Sheet and Detailed Notes

Here we have a set of financial statements of a large company that trades, owns investment properties, has many loan accounts, both secured and unsecured, has 10 shareholders who all want to know who got what, has intangibles and has 2 directors who are also shareholders. 

Producing this report took 2 minutes to go from reports tab to downloaded PDF.

How long does it take you?

Download it here.

Farming Financial Statements

Here is a farming trust with 5 beneficiaries. 

They trade cattle and sheep.

Notice the layout of the detailed income statement, the accounts are grouped by default into:

  1. Cropping
  2. Livestock
  3. Repairs
  4. Employment
  5. Administartion

Download it here.

Management Reports

Here we have a client that wants monthly reporting and is running a 12-month budget (using Xero's budget manager). 

It shows:

  1. Budget versus actual
  3. Cash flow
  4. Receivables and payables
  5. Details of each transaction

Producing this report took 2 minutes.

Download it here.

Livestock Schedule

Here is a livestock schedule.

You enter all amounts manually.

No data fills through from the general ledger.

It is primarily for compliance financial statements.

It is based on using the ATO's guidelines, under this link on their website.

Download it here.

Rental Statement

This report is perfect for entities that hold multiple investment properties. 

Download here.

Ad Hoc Balance Sheet - Dealing with accumulating owner accounts

Xero does not "close off" and "roll over" therefore all owner accounts (advances, drawings and profit) will accumulate over the life of the business. 

We recommend that you get used to this.

The way to handle allowing your clients to login and view a balance sheet is to create a custom balance sheet and set it as the default.

We have an example that shows you 10 beneficiaries, however, you will notice that Michelle and Albert do NOT have the opening balance box ticked. This means the group shows accumulation while the other groups show movement. 

This report took 10 minutes to build as there were 10 beneficiaries.

Download it here.

Working With Us

Invite us into your Xero

When we work for you, we need to be invited into your Xero practice (Xero HQ)

Please use these details.

Your Staff List

When we train you, we need to know some basic information about your staff.

We need to know items such as:

  1. Name
  2. Position
  3. Xero experience

Please download and complete this list and send to us.

Xero Ledger Set Up Project Manager

TBC - currently underway

New Report Codes in AU - May 2018

Xero released some new report codes in May 2018.

They are mainly for livestock trading and more owners. 

There are also chattel mortgage and hire purchase.

The list is here.

Ledger Shells Template

If you are adding lots of Xero ledgers, your Xero account manager can help you get "shells" set up. They need data in MS excel.

A shell is a Xero organisation completely empty except for your new master chart of accounts, plus a few basic details.

The value is you are saved having to add them all one-by-one. 

The best way to figure out how many ledgers you need is, go into your tax software or ATO portal, export a report of "lodged tax returns". Remove individual, FBT and SMSF and you will be left with sole traders, partnerships, companies and trusts. 

Get started early and use our basic template below.

Download the basic template here.

XPA Ledger conversions with Upbooks

MYOB, Sage and Reckon Ledger Conversions with ZeroBooks

We help with many items around moving to Xero for financial reporting.

However, sometimes a semi-automated data process can save time and headaches.

Check out what Zerobooks can do to help you.

Download the guide here.

Other Resources

Custom Cover Page

We built this cover page as best we could.

Download it here.

When you publish a report, you now have an extra click as you have to "deselect include cover page"

You also can't have the contents page as it comes before the custom cover page................which looks crap.

Just don't do it this way.

If you need a better cover page, use a PDF merging / publishing tool. 

Over 10 and under 36 owners

You can create a report that lets you report on 36 beneficiaries / shareholders / partners / income recipients with ease.

First step, is to watch this video.

It shows you how to create the report and then run it.

You will also need to download these two templates

  1. How to report for 36 owners
  2. Example chart of accounts with 36 beneficiaries

Once these are done, you can report on 36 owners with ease.

Frequently asked questions

What are Xero Report Templates

Xero Report Templates is the "Special Purpose Financial Reporting" platform that Xero Partners use to produce financial statements for their customers.

They are part of Xero's "Single Ledger" platform.

Basically, you can run financial statements from a Xero organisation.............BUT.........you need to understand the platform fundamentals.

That is where we help.

Why would I use Xero Report Templates

As an accountant (Xero Partner), you have the choice of using a variety of software for your customer's financial statements.

Some benefits of Xero:
  • Its all online (and secure)
  • It integrates with Xero Tax (Australia)
  • It is user friendly and simple
  • It is simple to integrate with other systems

Can you help move data from our old system

What other services are offered?

We are focusing on Xero Report Templates right now.

We may look into providing further services for other Xero Partner apps, such as forecasting and reporting addons, practice tools and business apps.

Stay tuned.

Are you up to date with Xero software?

Great question!

Donnie spends every Monday going through the "latest releases" page on the Xero website and makes any changes necessary. He also trains business owners, bookkeepers and accountants on a regular basis and they provide him with great input which ensures that content is up to date and valuable.

He also stays in touch with the Xero team as he is part of their preferred trainer network.

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