Monthly Comparative Balances

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.