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Financial Reports in Xero provide a real-time, accurate picture of a business’s performance, financial position, and cash flow. They help business owners, accountants, and decision-makers understand how money flows in and out of the business, what the business owns and owes, and whether it is making a profit. Xero automatically updates these reports from all daily transactions, ensuring clarity, accuracy, and insight for smarter business decisions.
What I Can Do with Financial Reports (Xero)
As a Xero-Certified Bookkeeper, I can confidently prepare, review, and interpret a wide range of financial reports to provide actionable insights, ensure accuracy, and support strategic business decisions.
1. Core Financial Statements
Fundamental reports that show the overall financial health of a business:
Profit and Loss Statement (Income Statement) – Assess revenue performance, expenses, and profitability.
Balance Sheet – Analyze assets, liabilities, and overall financial position.
Cash Flow Statement – Track cash inflows and outflows, and assess liquidity.
Trial Balance – Verify ledger accuracy before closing a period.
Statement of Changes in Equity (Owner’s Equity Statement) – Track changes in equity, including retained earnings, owner investments, and distributions/dividends.
2. Accounts Receivable & Payable Reports
Monitor cash flow and manage collections or payments effectively:
Aged Receivables Report – Track overdue invoices and customer payments.
Aged Payables Report – Monitor supplier invoices and payment obligations.
Debtor & Creditor Ageing Analysis – Detailed breakdown for strategic credit control and supplier management.
3. Inventory & Stock Reports
Track stock levels, value, and movement for accurate inventory management:
Inventory Summary – Monitor current stock levels.
Stock Valuation Report – Assess value of inventory for accounting purposes.
Inventory Item Details Report – Drill down into individual item movement and cost tracking.
4. Bank & Cash Management Reports
Ensure financial records are accurate and cash flow is well managed:
Bank Reconciliation Summary – Confirm reconciled bank accounts and maintain clean books.
Cash Flow Forecast – Project future cash needs and plan for liquidity.
5. Budgeting & Performance Reports
Support strategic planning and performance analysis:
Budget vs Actual Report – Compare actual performance against budgeted figures.
Job / Project Profitability Report – Track income and costs per project or client.
Sales by Customer Report – Identify top customers and revenue trends.
Purchases by Supplier Report – Analyze supplier spend and purchasing patterns.
6. Tax & Compliance Reports
Ensure adherence to tax regulations and statutory obligations:
GST / VAT Reports – Calculate tax liabilities and prepare submissions.
Activity Statement – Payroll and tax reporting compliance.
Payroll Summary Report – Track employee wages, deductions, and tax contributions.
7. Fixed Assets & Depreciation Reports
Track and manage long-term assets for accounting and tax purposes:
Fixed Assets Summary – Complete record of business assets.
Depreciation Report – Monitor depreciation expense and asset values over time.
8. General & Executive Management Reports
Provide insights for decision-making and strategic business management:
General Ledger Report – Review detailed account transactions.
Executive / Management Summary Reports – High-level summaries for strategic planning.
Expense Claims Report – Monitor employee expense submissions and reimbursements.
I also provide:
Monthly Management Reports
Variance Analysis
Financial Insights & Recommendations
Custom Reports for decision-making
These are the tasks I completed and added to my portfolio as screenshots:
📸 Task 1: Profit & Loss (Last 10 Months)
📸 Task 2: Balance Sheet (As at 31 March)
📸 Task 3: Cash Summary (June 2025 to March 2026 )
📸 Task 4: Aged Receivables Summary
📸 Task 5: Aged Payables Summary
📸 Task 6: Inventory Item Summary
📸 Task 7: Trial Balance (March 2026 Month End)
📸 Task 8: Bank Reconciliation Summary
These demonstrate my ability to generate and interpret core financial reports.
JiduffKelv Digital World Mock Company Reports
The screenshot presents selected financial reports from the JiduffKelv Digital World Mock Company in Xero. Each screenshot demonstrates how transactions and reconciliations feed into key reports such as Profit & Loss, Balance Sheet, Aged Receivables, Aged Payables, and Cash Flow Statements, providing a clear, accurate view of the company’s financial health and performance.
Profit & Loss Statement
Description
The Profit & Loss Statement shows the business’s income, cost of sales, and expenses within a selected period. It reveals whether the business made a profit or a loss, and helps track financial performance over time.
What It Shows:
Revenue
Cost of Sales
Gross Profit
Operating Expenses
Net Profit
Why It Matters:
This report helps owners monitor profitability, identify problem areas, and make informed financial decisions.
What This Demonstrates in My Portfolio:
This shows my ability to generate, understand, and interpret profitability trends for clients using Xero.
Trial Balance
Description
The Trial Balance shows the closing balances of all general ledger accounts at a specific date. It is used to verify the accuracy of bookkeeping entries and ensure that total debits equal total credits.
What It Shows:
All Ledger Accounts
Debit Balances
Credit Balances
Total Debits and Total Credits
Why It Matters:
This report helps identify posting errors, ensures books are balanced, and serves as the foundation for preparing accurate financial statements.
What This Demonstrates in My Portfolio:
This shows my ability to maintain accurate general ledger records, detect discrepancies, and produce clean, balanced financial data ready for reporting in Xero.
Inventory Item Summary
Description:
The Inventory Item Summary shows the quantity, value, and cost of all inventory items the business has on hand. It helps track stock levels and understand the total value of inventory at any given time.
What It Shows:
Quantity on Hand
Average Unit Cost
Total Inventory Value
Item-by-Item Stock Breakdown
Inventory Movements (if applicable)
Why It Matters:
This report helps business owners avoid stock shortages, prevent overstocking, understand product profitability, and maintain accurate inventory valuation for financial reporting.
What This Demonstrates in My Portfolio:
This shows my ability to manage and monitor inventory records, track stock valuation accurately, and support businesses that rely on product-based operations using Xero’s inventory features.
Budget Summary
Description:
The Budget Summary report gives an overview of a business’s planned versus actual financial performance over a specific period. It shows how the business is tracking against its budgeted revenue and expenses, helping owners quickly identify areas where performance aligns with expectations or requires attention.
What It Shows:
Total Budgeted Income vs Actual Income
Total Budgeted Expenses vs Actual Expenses
Net Profit or Loss vs Budget
Breakdown of Income and Expense Categories
Variances (Amount and Percentage)
Highlights of Over-Budget or Under-Budget Items
Why It Matters:
This report helps business owners monitor financial performance against expectations, control costs, and ensure profitability. It allows managers to make informed decisions, adjust spending, and improve planning for future periods.
What This Demonstrates in My Portfolio:
This showcases my ability to track and analyze business performance using Xero, identify key variances, interpret their impact, and provide clear insights to help business owners make informed, data-driven decisions to optimize revenue and control costs.
Balance Sheet
Description:
The Balance Sheet shows the business’s financial position at a specific date. It reveals what the business owns, what it owes, and the owner’s equity. It helps track stability, liquidity, and overall financial health.
What It Shows:
Assets
Liabilities
Equity
Why It Matters:
The Balance Sheet helps owners understand their true financial standing, evaluate solvency, assess liquidity, and make informed financial decisions.
What This Demonstrates in My Portfolio:
This shows my ability to generate, understand, and interpret a business’s financial position accurately using Xero, ensuring clean, reliable financial statements.
Aged Receivables
Description
The Aged Receivables Summary shows all outstanding customer invoices grouped by how long they have been overdue. It helps track unpaid sales and monitor customer payment behavior.
What It Shows:
Invoices due in < 1 Month
Invoices due in 1 Month
Invoices due in 2 Months
Invoices due in 3 Months
Invoices overdue 4 Months +
Total outstanding receivables
Why It Matters:
This report helps business owners manage cash flow, identify slow-paying customers, reduce bad debts, and follow up on overdue invoices to improve collections.
What This Demonstrates in My Portfolio:
This shows my ability to monitor customer debts, manage accounts receivable effectively, and help clients maintain healthy cash flow through timely collections using Xero.
Fixed Asset Reconciliation
Description:
The Fixed Asset Reconciliation report confirms that all fixed assets recorded in Xero align with the balances shown on the balance sheet. It compares asset costs, accumulated depreciation, and book values to identify and correct discrepancies.
What It Shows:
Asset categories, names, and reference codes
Original purchase costs
Posted and accumulated depreciation
Closing carrying amount (book value)
Variances between the Asset Register and General Ledger
Why It Matters:
This report ensures that fixed assets are recorded accurately, depreciation is correctly applied, and balances between the asset register and ledger fully agree. It helps maintain reliable financial statements and supports a clean, audit-ready month-end close.
What This Demonstrates in My Portfolio:
This shows my ability to manage fixed assets correctly, apply depreciation, reconcile asset balances, and maintain accurate, compliant asset records for clients using Xero.
Project Summary
Description:
The Project Summary report gives an overview of all projects within the business, showing their financial performance, progress, and profitability. It helps track how much time, money, and resources have been spent on each project and whether those projects are running at a profit or loss.
What It Shows:
Total Project Income
Total Project Costs
Project Profitability (Profit or Loss)
Time & Expenses Tracked
Project Status (In Progress, Completed, or Closed)
Budget vs Actual Comparison
Breakdown of Tasks, Milestones, and Billable Hours
Why It Matters:
This report helps business owners assess project performance, identify profitable vs. unprofitable jobs, manage workloads, and ensure accurate billing. It also supports better decision-making, allowing managers to allocate resources effectively, control costs, and improve future project planning.
What This Demonstrates in My Portfolio:
This showcases my ability to track and analyze project performance using Xero Projects, monitor profitability, manage time and expenses, and provide clear insights for businesses that handle client work, jobs, or service-based operations.
General Ledger Summary
Description:
The General Ledger Summary provides an overview of all accounts and their total debits and credits within a selected period. It shows how each account has moved and ensures the books are balanced and accurate.
What It Shows:
All ledger accounts
Total debits and credits
Opening and closing balances
Movements within each account
Why It Matters:
This report helps verify the accuracy of financial data, detect unusual account movements, and ensure that the accounting records are complete and balanced.
What This Demonstrates in My Portfolio:
This shows my ability to review ledger activity, identify irregularities, and maintain accurate and well-organized financial records in Xero.
Statement of Cash Flows
Description:
The Statement of Cash Flows shows how cash moves into and out of the business within a selected period. It reveals whether the business is generating enough cash to operate, invest, and meet financial obligations.
What It Shows:
Cash from Operating Activities
Cash from Investing Activities
Cash from Financing Activities
Net Cash Movement for the Period
Why It Matters:
This report helps business owners understand liquidity, identify cash shortages, monitor cash-generating activities, and make informed decisions about spending, investment, and financing.
What This Demonstrates in My Portfolio:
This shows my ability to generate, understand, and interpret cash flow movements in Xero, ensuring clients have a clear view of how cash enters and leaves their business.
Aged Payables
Description:
The Aged Payables Summary shows all outstanding supplier bills grouped by how long they have been unpaid. It helps track what the business owes and when payments are due.
What It Shows:
Bills due in < 1 Month
Bills due in 1 Month
Bills due in 2 Months
Bills due in 3 Months
Bills overdue 4 Months +
Total outstanding payables
Why It Matters:
This report helps business owners manage outgoing payments, avoid late fees, maintain good supplier relationships, and plan cash flow more effectively.
What This Demonstrates in My Portfolio:
This shows my ability to track supplier bills, manage accounts payable correctly, and help clients make informed payment decisions to maintain positive cash flow using Xero.
Bank Reconciliation
Description:
The Bank Reconciliation Summary shows the comparison between the bank statement balance and the balance recorded in Xero. It helps confirm that all transactions have been correctly entered, categorized, and matched, ensuring clean and accurate financial records.
What It Shows:
Bank Statement Balance
Xero Balance
Reconciled Transactions
Unreconciled / Missing Items
Statement Lines Matched vs Unmatched
Why It Matters:
This report ensures the books are accurate and reliable. It helps detect missing entries, duplicate transactions, or errors, and provides confidence that financial statements reflect true cash activity.
What This Demonstrates in My Portfolio:
This shows my ability to perform accurate bank reconciliations, identify discrepancies, maintain clean records, and ensure clients’ books are fully aligned with their actual bank activity in Xero.
Tax Reconciliation
Description:
The Tax Reconciliation report provides a clear overview of all tax-related transactions within a specific period, showing the total tax collected from sales, tax paid on purchases, and how these amounts align with the tax ledger. It helps verify what has been filed, what remains unfiled, and whether any tax is still outstanding or overpaid.
What It Shows:
Total Tax Collected on Sales
Total Tax Paid on Purchases
Tax Adjustments, Bad Debt Claims & Corrections
Filed vs Unfiled Tax Periods
Opening & Closing Tax Balances
Amount of Tax Owing or Refund Due at Period End
Why It Matters:
This report ensures that tax activity is accurate, complete, and fully aligned with compliance requirements. It helps business owners confirm that the tax collected and the tax paid match the tax ledger, reducing the risk of errors, penalties, late filings, or misreported amounts. It supports timely filing, proper recordkeeping, and transparent financial reporting.
What This Demonstrates in My Portfolio:
This demonstrates my ability to manage and review tax activity, reconcile tax balances, detect discrepancies, and maintain clean, compliant tax records for clients using Xero. It highlights my skill in ensuring accuracy, preparing businesses for tax filing, and supporting reliable financial operations.
Journal Report
Description:
The Journal Report displays all manual and system-generated journal entries recorded within a selected period. It shows the details of each entry, including accounts affected, amounts, dates, and descriptions.
What It Shows:
All journal entries
Debit and credit accounts
Entry dates and references
Narrations and explanations
User who created the journal (if applicable)
Why It Matters:
This report helps track adjustments, correct errors, confirm proper posting, and maintain transparent and accurate accounting records.
What This Demonstrates in My Portfolio:
This shows my ability to create, review, and validate journal entries, ensuring that all financial adjustments are accurate, compliant, and properly documented in Xero.
How I Use Financial Reports to Support Business Decisions
I analyze key numbers such as:
Gross Profit Margin
Net Profit Margin
Working Capital Ratio
Accounts Receivable Days
Accounts Payable Days
Cash Flow Trends
These insights help business owners:
Identify overspending
Improve sales and pricing strategy
Manage and forecast cash flow
Reduce overdue invoices
Plan for growth and sustainability
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