Monthly Comparative Balances

In addition to the transactional history available as part of our service, you can add monthly comparatives for additional reporting purposes.

These are monthly journals derived from the profit and loss and balance sheets prior to the transactional history start date. They go back as far as we can read the data in your source file and provide additional information for reporting and trend analysis.

1. You can run a P&L for the current financial/fiscal year, and compare it against previous years.
   
2. You can run a P&L for this quarter (or month) versus previous quarters (or months) for a number of years to get seasonal trends.
   
3. You don’t need to go back to your old accounting system for those reports as the data is in Xero.
   

Please note that you cannot receive the option of monthly comparatives if you select the custom change your Chart of Accounts option.

NOTE: These numbers are in summary format and you are unable to drill down in the transactions that make up these balances.

Monthly comparative balances are not applied against tracking categories.

• Related Articles

• Quickbooks Online (US)

  For information on QBO conversions for Australia please go here. What is Converted? Contacts Chart of Accounts Inventory items Classes Open invoices & bills Closed Invoices & Bills for the Transactional Period Converted Transactions Conversion ...

• Running Payroll Reports Post Conversion

  When setting up payroll in Xero, most employees will have opening balances so that payment summaries can be created out of Xero easily. The downside is that the reporting for the first quarter/ month after conversion does not easily give the correct ...

• Custom Conversions

  Oversized Desktop Source Files When uploading desktop files our system will read the file size - this the raw size of the file eg. if it has been zipped or compressed (in QuickBooks and Reckon you can back up as a QBB or QBM these are compressed ...

• Post Conversion Queries

  Amending Conversion Balances Please see here for more information on how to Amend Conversion Balances Figures in Conversion Clearing Account Please see here for more information regarding conversion clearing accounts. Why do I have a Reconciliation ...

• Package Options

  Notice: As of May 15, 2025, our package rates have been adjusted to reflect current operational costs. We remain committed to delivering quality and value, and we appreciate your continued trust and support. These Package options and prices relate to ...