Xero Ledger Financial Statement Complilation

Change your organisation's basic information

You can change your organisation details such as display name, legal/trading name, organisation type, and line of business in the Basic Information section of the Organisation Settings screen. You can also add a logo and enter a description of your organisation.

1. Go to Settings > General Settings > Organisation Settings.
2. In the Basic Information section of Organisation Settings, change any of your details or upload a logo.
   About the basic information fields
3. Read and agree to the Terms & Conditions.
4. Click Save.

About the basic information fields

Display name and legal/trading name (required)

Logo

What is your line of business?

Organisation type (required)

Business Registration Number

Organisation description

Enter your organisation's contact details

Go to Settings > General Settings > Organisation Settings to enter or update your organisation's contact details, including:

• Physical address
• Postal address
• Phone and fax numbers
• Email
• Website
• Skype
• LinkedIn
• Twitter
• Facebook
• Google+

About the contact details fields

About the contact details fields

Physical address

Postal address

Telephone

Email

Website

Report codes for practices using report templates

Get started with report code mapping

Map report codes in each client's organisation under Report Codes on the Adviser tab. These report codes are used by:

• Report templates
• Advanced business performance ratios

Before anyone has mapped report codes to your client's chart of accounts, Xero will have made a best guess for each account. These accounts will be highlighted for your review with a yellow dot.

You'll need to check the report code mapping for each account, then edit any that need changing.

Edit report code mapping

When Xero introduces new report codes for your region, any existing report codes similar to the new ones will appear on the For Review tab. This gives you the opportunity to assess the new codes. Report codes will keep their existing mappings unless you decide to change them.

Map report codes to your client's chart of accounts

Import or export report codes

Import or export for your practice's report templates

1. Here are rules you'll need to follow and accounts you need to keep.

   Rules for adding or changing accounts in the CSV file
   Keep Xero system accounts as they are
   Checks for a successful import

   If you have a large chart of accounts with subcodes, consider using tracking categories.
   Set up tracking categories to monitor different areas of your business

2. Format the Code column as text.

   Excel removes the leading zeros from account codes when the Chart of Accounts CSV file is exported. You must format the Code column as text before importing the file back into Xero.

3. Save the file to your computer.

4. Go to Settings > Chart of Accounts.

5. Click Import.

6. Select the Xero system option and Yes or No/Don't know depending if your file contains account balances.

7. Click Browse to locate your saved file.

8. Click Import.

9. Review the import summary to see which accounts Xero has included for import, and any changes or accounts Xero has excluded.

10. Click Confirm (or make any changes if you need to).

If you have chosen to import account balances, you must confirm these balances before they will show in your chart of accounts:

Rules for adding or changing accounts in the CSV file

Here are column headers and fields that are mandatory for Xero to import your file, and ones that are optional. Mandatory fields are marked with an asterisk (*).

There are different rules for bank accounts, if you're adding these to your file.

Xero keeps system accounts

For Xero to work properly, your chart of accounts contains Xero system accounts. You can change the name or code of any system account, but the type must stay the same.

It's best to talk to your accounting adviser before you make any changes to Xero system accounts.

The Xero system accounts are:

• Accounts Receivable
• Accounts Payable
• Inventory
• Unpaid Expense Claims
• Sales Tax
• Retained Earnings
• Historical Adjustment
• Tracking Transfers
• Rounding

If you use multi-currency, there are extra foreign currency system accounts.

Foreign currency accounts

Include mandatory column headers and fields

Mandatory fields are marked with an asterisk (*).

• Code
• Name
• Type
• Tax Code

Include optional fields

• Description
• Dashboard
• Expense Claims
• Enable Payments
• Balance

Checks for a successful import

Here are some things to check to make sure your imported file is accepted by Xero and your chart of accounts update as you expect:

Check your file

• Your file must be based on the Xero default chart of accounts file you've exported from a Xero organisation, or downloaded using one of our templates.

• Your file must be a CSV.

• The first row of your file must contain column headings.

• Your file can have up to 700 rows (1 column heading row + 699 value rows).

Check the data in your file

• Include necessary column headers and fields

• Don't change Xero system accounts, without talking to your accounting adviser.

• Use only column headings, account types and tax types accepted by Xero, and spelled the same way.

• Don't use:

  • Mathematical signs that Excel will interpret as the start of a formula
  • HTML or other coding to words or phrases.