Xero - Using Categories To Track Profit By Customer

This video will show how to use tracking categories in Xero. What this means is a report can be generated that will compare your specific tracking category. For example, the video creates a tracking category by client. How to create tracking categories in Xero: 1. Go to Settings/General Settings/Tracking/Add Tracking Category (Clients) 2. Add a selection of Clients into the Tracking Category 3. Set up cost categories: Settings/Chart of Accounts/Add new Account 4. Allocate and approve Sales and Purchase invoices to the specific clients 5. Generate report and compare by clients

This will enable the display of a Profit a Loss that compares the clients from the tracking category. This is great way to get an overall view of your business as well as get more detail on a per client basis. While, the video uses a client tracking category you could select any category you like in order to generate reports to suit your needs.

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Disclaimer:

The information provided in this article is general in nature and does not constitute personal financial, legal or tax advice. While every effort has been made to ensure the accuracy of this content at the time of publication, tax laws and regulations may change, and individual circumstances vary. Dolman Bateman accepts no responsibility or liability for any loss or damage incurred as a result of acting on or relying upon any of the information contained herein. You should seek professional advice tailored to your specific situation before making any financial or tax decision.