Edgar de Wit
We often receive this question: "How can we report on Xero tracking categories with multiple Xero administrations?"
Many Xero customers have the same problem, they are entering transactions on tracking categories but reporting possibilities in Xero are limited. You can select one or more tracking categories when you run a report, but it is dificult reporting on them as a "dimension" of your business. Even more so if you have multiple Xero companies.
As a result, most Xero customers resort to running multiple reports in Xero, exporting to Excel, and doing their consolidating and reporting in spreadsheets. It is a very manual process, time-consuming and not ideal.
Examples of tracking categories in Xero are:
Category tracking in Xero is great. But reporting in Xero is limited. Before you know it you'll be doing it all in spreadsheets. As your business grows, doing your consolidating and reporting manually in spreadsheets is time-consuming without a good solution.
There are many online solutions that can connect with Xero. XLReporting is an one of these solutions, and ideally suited to report on your tracking categories.
XLReporting integrates with Xero. Once you authorize XLReporting to access your data, you can then import the data for each Xero administration into XLReporting's online database. That includes your Chart of Accounts, account balances, general ledger details, and tracking categories.
The beauty of this method is that you no longer have to do any manual work. All reports are immediately updated, and you can view your numbers any way you want.
For example, if you have a tracking category "Business Units", you can define a report with all business units next to each other, consolidated across all Xero administrations. Or show your companies side-by-side:
When you can automate your consolidation and reporting, you have more time to analyze your numbers. Which tracking category performed best and which worst?
Thanks to automation, you keep better overview, and your numbers are instant and reliable. That gives you confidence in your numbers and in your decisions.
Contact us for a free demo or Proof of Concept.
Do you want to know more about tracking categories in Xero, then click here.