Making Sense of Your Xero Dashboard

Making Sense of Your Xero Dashboard

What is the Xero Dashboard and how can it help my business?

The Xero dashboard is a summary of key information you need to monitor your finances, which is customisable to suit your business needs.

It allows you to track cashflow, monitor bank accounts and stay on top of credit control, whilst keeping an eye on other key areas of the business.

Your Xero dashboard can provide an at-a-glance view of cash, profits and issues in your business that need attention.

Cashflow and bank accounts

The dashboard graphically displays, cash in and cash out on, whilst cash movements on individual bank accounts are also tracked.

It gives an up to date view of bank and credit card balances, also showing the status of any bank reconciliations.

Select or exclude the bank accounts you need to view on your dashboard as necessary.

Invoices Owed to You

Use this section of the dashboard to assist with credit control. You’ll also find the total invoices due and overdue status here. Best of all, you can drill down into the detail directly from the dashboard.

Click on the ‘New Sales Invoice’ button to create new invoices here too.

Bills You need to Pay

Review amounts owed to your suppliers in this section.  Here you’ll find total bills awaiting payment and those exceeding payment terms, again with a drill down option.

Furthermore, the dashboard will display the status of any expense claims if you’re using Xero’s expense management tool.

Xero dashboard Account Watchlist

Add accounts to the ‘Watchlist’ to monitor spending on particular areas of your business.  You’ll then see them on your dashboard, tracking monthly and year to date expenditure.

Customise your dashboard to monitor profits

If your Xero dashboard doesn’t already show your Gross Profit % over time, here’s how to add this vital chart. Head to Accounts > Reports > Financial > Business Performance. Star the Gross Profit chart. Other options you can add include:

  • Current liabilities to net worth
  • Current ratio
  • Debt ratio
  • Debt to equity ratio
  • Fixed assets to net worth ratio
  • Gross profit %
  • Net profit on net sales %
  • Working capital to total assets %

Not sure what metrics to monitor? Ask us and we’ll let you know.

Edit Xero dashboard

You can edit the layout of the dashboard to suit your needs.  Simply click the ‘edit dashboard’ link at the bottom of the page and drag panels around the page.  In addition to this you can ‘hide’ or ‘show’ relevant data.

How can Wessex Help?

First and foremost, our team of Xero specialists advise on all aspects of Xero.  So whether you are new to Xero or an established user, we ensure you get the most out of your financials.

Finally, to get started with Xero or for a business review of existing Xero accounts, please get in in touch.

Book your Business & Xero Review

Author: Rachael Baker