Financial Reports for Sugariffic using Xero Software

Finance Assignment

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By student name
Professor
University
Date: 25 April 2018.
Page 1 of 15 Yousra Shaifi (ID: XXXXXX)

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Executive Summary
A report has been prepared using the Xero software for owners of the company Sugariffic, Oliver
and Sydney. This is one of the start up wholesaler in the city. All the transactions for the month
August 2018 have been entered in the software Xero and several business reports has been
extracted which will be used for decision making. Some of these reports are profit and loss
account, the balance sheet, the trial balance, the inventory item summary, the payable ageing
summary and the receivables ageing summary as was asked in the question. There are many
other business and analytical reports and dashboards which can be extracted through this
accounting utility tool, Xero some of which are cash flow statement, the GST reconciliation
statement, overall outstanding report, the monthly and quarterly variance analysis. All of these
are used in business decision making and the use of Xero also ensures correct use of the GLs and
correct accounting treatment in books. A recommendation has also been given towards the end
on the use of these reports.
Page 2 of 15 Yousra Shaifi (ID: XXXXXX)

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Contents
Executive Summary.....................................................................................................................................2
Introduction.................................................................................................................................................4
Part A: Financial Reports of the client.........................................................................................................5
Profit & Loss............................................................................................................................................5
Balance Sheet..........................................................................................................................................6
Trial Balance............................................................................................................................................7
Aged Payables (detail).............................................................................................................................9
Aged Receivables (detail).......................................................................................................................10
Inventory Item Summary.......................................................................................................................11
Part B: Other Reports in Xero....................................................................................................................12
Cash Summary.......................................................................................................................................12
GST Reconciliation Report.....................................................................................................................13
References.................................................................................................................................................15
Page 3 of 15 Yousra Shaifi (ID: XXXXXX)