P&L Common formats video

Since releasing our Common Formats feature in Profit and Loss reporting a few weeks ago we’ve had some great feedback from our accounting partners that this very useful.  Especially when used with tracking categories.

Most companies use P&L reports to see how their business is going.  P&L reporting is especially useful in Xero as the numbers are up to date every day so they are a valuable management tool.  How is my income doing compared to last month?  Are my expenses under control?

We had lots of feedback that while everyone uses a P&L, there are many ways to look at the information.

  • This month compared to the last few, so I can see how I’m tracking
  • Actual vs Budget
  • This month compared to the same time last year – for businesses with seasonal variations

As we designed this Andrew came up with the idea of just creating some common formats so that you could quickly look at your P&L in a number of ways. Here is a video that shows you how simple it is.

You probably spotted that I’m using the Blue microphone I picked up in Palo Alto a couple of weeks ago.  We use Screenflow to capture the tour and Viddler to host the video. It only takes a few minutes to make a movie and get it up so you’ll see many more of these from us. And yes – we all dislike the sound of our own voice 🙂

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