New US product updates customized just for you. Learn about the latest product enhancements we are planning to release in the coming months.
With just one click, quickly view the financial position of your business without spending precious time customizing Profit and Loss reports. Use preset formats to common periods like month-to-date progress, or set up tracking categories to see how different areas of the business are performing.
A new direct bank feed for Citibank business and consumer accounts is now available to connect to Xero. Bank transactions import directly into Xero, adding additional security and reliability and offered at no additional cost.
Do you need to report miscellaneous and contractor payments made in tax year 2020? Use Xero’s latest 1099 reporting features to help identify 1099 related transactions made throughout the year and generate a 1099-MISC and 1099-NEC report in a single workflow. We’ve increased the rules limit and added balance account options to provide greater flexibility in how you report payments. You can now bulk select and deselect transactions to easily remove contacts who do not need a 1099. Plus, all Xero users with access to reporting can now view a 1099 report. Watch our short demo video to see the latest updates.
A new 2020 Schedule C report template is now available in Xero HQ to help prepare sole proprietor client data during tax season. Before you get started, be sure to download the custom Schedule C chart of accounts in Xero Central.
Xero’s Schedule C report template is available for Xero partners only.
We’re working on improving the way you use the Account Transactions report in Xero. Now, you have the ability to see the opening balance for profit & loss accounts and show or include accounts with no transactions. Plus, we’ve added a related account column to give you better visibility into the other side of the accounting journal.
It's now quicker to find the Profit & Loss report whenever you need it. We updated the name to "Income Statement (Profit and Loss)" in the Xero Report Center. You can easily find the report by typing Income Statement or Profit and Loss.
Earlier this year, we announced new US chart of accounts templates available for accountants and bookkeepers in Xero HQ, helping simplify the process of setting up new clients in Xero. Now, you have the ability to copy and customize these templates to your liking.
