In the current era, financial analytics play a vital role in analyzing the operational efficiency of a business. Historical trends help in evaluating the performance of an organization. Aside from that, as a decision-maker, it’s important to have an in-depth knowledge of your companies’ financials. With the aid of powerful financial analytics, an organization can make game-changing decisions and work towards leveraging their profits in this highly competitive market.
Xero is online accounting software for small businesses, and it’s used by many businesses around the world. Zoho Reports recently launched the Xero Advanced Analytics add-on. With it, you can slice and dice your Xero data, garner great insight, and collaborate with your finance team.
In this blog post, I’ll highlight some essential reports that can help you evaluate the financial health of your organization.
Cash In or Out
This report displays cash inflow and outflow. The difference in inflow and outflow is your organization’s cashflow for a particular period of time. The liquid assets of a company increase when the cashflow is positive.
Balance sheets are important reports that accountants and finance managers need to access on a regular basis. This month-by-month balance sheet provides a statement of assets, liabilities, and equity across months. It helps finance managers get an overall view of their total assets and liabilities.
Profit and Loss Overview
The Profit and Loss Overview report, as the name implies, displays a detailed view of the last 6 months of expense and revenue. Using the data from this report, a finance team can work on ways to increase the profit margin.
Total Revenue by Month
Get updates about your organization’s overall revenue with this report. It also displays monthly revenue. Learn how each months’ revenue impacts your overall revenue trend. This report can be helpful in assessing the performance of your business.
Revenue vs Expense by Month
The Revenue vs Expense report presents monthly revenue and expense. The financial health of an organization is considered to be in a positive state when revenue exceeds expense. The difference between revenue and expense gives the net income. Net income is a crucial metric in evaluating the efficiency of a business.
Financial Health Overview
It gives the complete overview of the financial status of your business. This extensive report covers a wide range of financial metrics such as Revenue, Expense, Profit, ROI, and much more. The contextual indicators applied in this report helps you to quickly identify the month wise trend of each metrics.
These are just a few handpicked example reports offered by the Zoho Reports Advanced Analytics Add-on for Xero. There are over 75+ pre-packaged reports & dashboards. You can also create your own reports and dashboards with the easy to use intuitive drag-and-drop interface. Zoho Reports also supports filtering your reports using Tracking Category in Xero.
Dive deep into your financial data and make smart business decisions with Zoho Reports Advanced Analytics for Xero.
Set up the Xero Advanced Analytics add-on
Learn more about the Xero Advanced Analytics add-on
Zoho Reports also supports financial analytics for Zoho Finance and QuickBooks.