Many of you will be using Xero to keep track of your business’ finance, but you may not know about a nifty report called Business Snapshot.
Business Snapshot is a dashboard-style report displaying business performance measures to help you better understand the financial position of your business.
You need to have at least a couple of months’ worth of transactions in Xero, then it’ll display key financial information to show the financial health of your business. Information like the profitability of your business and how long it takes on average for your customers to pay you is all displayed on a dashboard.
Key financial metrics are shown as a series of charts, tables, and at-a-glance figures which can be used to compare different periods.
To ensure that the information on the dashboard is up to date, you need to make sure you reconcile your transactions regularly.
View your Business Snapshot
There are two ways to view this, you can access it in the Business menu by selecting Business snapshot, or in financial reports:
1. In the Accounting menu, select Reports.
2. Under Financial, click More reports to expand the section.
3. Click Business Snapshot to generate the report.
4. Click Last Financial Year to change the period, this is located in the top right hand corner.
5. When you select a new period it’ll display in blue.
6. If you want to print out your snapshot all you need to do is click Print.
7. You can save the snapshot as a pdf or other type of document when you’re in print mode.
Have a great day!