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Updates to the NZ Xero HQ Report Templates

Posted 3 months ago in Product by Alisha Parbhu
Posted by Alisha Parbhu

As part of the Partner Consulting team, a big focus is to help our partners have the best experience using the Xero HQ report templates.

This means that we’re always listening to your suggestions on how we can make it easier for you to produce beautiful management and special purpose financial reports.

We’re really excited to announce that based on your feedback, we’ve added new report codes and updated the default report templates available to our New Zealand partners.

New Report Codes

From 7th March 2019, accountants & bookkeepers in the NZ region will see new report codes, in addition to the existing ones in the Xero HQ report templates. This includes new report codes for:

  • Livestock and farming operations
  • Rental investment properties
  • Additional office expenses

We’ve updated Xero’s default report templates with these new report codes.

Updated Report Templates

This is my personal favourite part of the update! To help you with your advisory services as well as compliance, we’ve added three new templates:

  • Management Report – a suite of internal management reports including a new Cash Summary.
  • Additional Reports – This is a library of reports we have built for you to add to your report templates, such as a Rental schedule, Loan schedules and detailed Profit and Loss.
  • Minutes & Resolutions – A template of Minutes & Resolutions, including Directors Resolution and Certificate, Meeting of Directors, Minutes of Annual Meeting and Trust Minutes.

In line with these updates, we’ve refreshed the stand-alone default reports you can add to your own report templates:

  • Balance Sheet
  • Movements in Equity
  • Profit and Loss
  • Statement of Cash Flows – Direct Method
  • Cash Summary

Using The Templates:

You can find new the templates under the “Ready to Use” tab in Xero HQ.

Note that if you’ve previously archived the Xero default templates in Xero HQ, you won’t see the new default templates in your ‘Ready to Use’ tab.  So, to get the new template create a new report template, select ‘Copy From…’ and then select a template from the ‘Xero Templates’ section.

How are your existing templates affected by the new report codes?

1. In Xero HQ

The new report codes will be automatically added to only these reports in templates in all tabs (Ready to Use, Draft and Archive) in the Xero HQ Report Templates:

  • Balance Sheet
  • Statement of Profit and Loss
  • Statement of Changes in Equity
  • Shareholder Current Accounts
  • Statement of Cash Flows – Direct Method

Review those templates in Xero HQ to check that the new report codes are placed correctly for your practice’s requirements. Note that the placement of these report codes will only affect client reports if you map accounts to those report codes in your client organisations.

For all other reports, it’s important to note that the new report codes will not automatically be added. You can add the new report codes to the other reports in your templates as required.

Any report templates you have created prior to this release (whether as a draft or ready to use) will still be available for you to use.

2. In your client organisations

Published reports for your clients won’t be affected by the new report codes. If your unpublished reports or templates include the reports listed below, and you’ve mapped accounts to new report codes, you’ll need to review the reports and templates to make sure the accounts are in the right place for your practice:

  • Balance Sheet
  • Statement of Profit and Loss
  • Statement of Changes in Equity
  • Shareholder Current Accounts
  • Statement of Cash Flows – Direct Method

You can also speak to your account manager or local partner consultant for more information.

New to report templates in Xero? Learn more here about how your clients can tailor smart financial reports to suit their business.

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