Five reports cover almost everything you need day to day. Find them under Accounting, then Reports. Click the star next to a report to add it to your favourites.
| Report | What it tells you | How often |
|---|---|---|
| Aged Receivables | Who owes you money, and how overdue each invoice is | Weekly |
| Aged Payables | Who you owe, and when each bill is due | Weekly |
| Bank Reconciliation | Whether Xero agrees with your bank statement | Month end |
| Profit and Loss | Income, expenses and profit for a period | Monthly |
| Balance Sheet | What the business owns and owes on a date | Monthly |
Using a report
- Set the date or date range at the top, then click Update.
- Click any figure to see the transactions behind it.
- Use Export to save it as a PDF or Excel file.
If a figure looks wrong, the cause is usually an unreconciled bank line, a bill not captured, or a transaction coded to the wrong account. Fix the transaction, not the report.
Why these matter in South Africa
Aged Receivables and VAT. Most VAT vendors pay VAT to SARS on what they invoice, not on what they collect. A large overdue balance can mean you have paid VAT on money you haven't received. Chase it weekly.
Profit and Loss and provisional tax. Your accountant estimates provisional tax from your profit. For a business with a February year-end, the payments are usually due at the end of August and the end of February. An up-to-date Profit and Loss before those dates means a better estimate and fewer surprises.
Bank Reconciliation and SARS queries. If SARS asks for support during a VAT verification, your accountant starts with reconciled bank accounts. Unreconciled months slow everything down.