Who is this post for?
This post is for Xero Partners who use Xero Report Templates.
It shows you:
- How to create a report that pulls in all revenue and expenses
- Makes tax adjustments for taxable profit
- Then estimates tax payable using any custom tax rate of your choice
It is a cash management tool for you to help your clients keep ahead of their income tax obligations.
Whether they pay it or put it into a savings account.
Check out the video!
Are you keen to use Xero to help your clients with cash flow?
The old saying for business holds true:
"Cash flow is king".
Cash flow is the most common reason for business failure!
Let's band together and help people to manage cash as best we can.
We show you how to build an awesome report
You can run a report for all revenue and expenses, do tax adjustments and estimate income tax, in around 60 seconds!
This is awesome for cash flow management.
Imagine running this report for all your Xero clients every month and saying to them:
"We estimate this much tax will be payable for the month. So put that money in a savings account now, now!"
What do you think?
It will save you doing it in MS excel.
You can also publish it with your logo and brand colours and share it via PDF.
If yes, then watch the video and go and build it.
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What about the other reports?
One client just asked me:
"What is the difference between the tax reconciliation report and this report?"
The tax reconciliation report is 100% custom. It does NOT pull the revenue and expense accounts into the report.
Cash Flow Statement
The cash flow statement in Xero is not for everyday users.
It is a more sophisticated tool for Xero advisors to use for analytical purposes.
Our estimator just keeps things really simple.
Management Report Templates
Keep an eye out for more management report templates from us!
What is next from us?
We are looking into building another report to capture AS MANY cashflow figures as possible.
We want people to use Xero and keep that cash under control, without using Google sheets or MS excel.
If you are keen to know more, keep an eye out here in our blog.
Feel free to email - firstname.lastname@example.org.