Xero offers over 50 different reports, but which ones actually matter for your business? Running the wrong reports wastes time, while missing key reports can leave you blind to critical issues.

This guide will show you exactly which reports to run and when, so you can spend less time in spreadsheets and more time growing your business.

💡 Pro Tip: Connect HeyDashboards to your Xero account to automatically track these metrics in real-time with beautiful visualizations.

Daily Reports

Bank Reconciliation Summary

What it shows: Unreconciled transactions and your current bank position

Why run it daily: Catch discrepancies early, prevent fraud, and always know your actual cash position

Key insight: If reconciliation items are piling up, you're losing visibility into your true cash position

Cash Summary

What it shows: Cash in all your accounts right now

Why run it daily: Know exactly what you have available before making spending decisions

Weekly Reports

Aged Receivables

What it shows: Who owes you money and how long it's been outstanding

Why run it weekly: Identify collection issues before they become bad debts

Action items:

• Follow up on anything over 30 days
• Escalate items over 60 days
• Consider collections for 90+ days

Aged Payables

What it shows: What you owe and when it's due

Why run it weekly: Plan your payment schedule and avoid late fees or damaged supplier relationships

Invoice Activity

What it shows: Invoices sent, paid, and outstanding during a period

Why run it weekly: Track sales momentum and spot slowdowns early

Monthly Reports

Profit and Loss Statement

What it shows: Revenue, expenses, and profit for the period

Why run it monthly: Track profitability trends and identify expense creep

Pro tip: Run a comparison report showing current month vs. same month last year

Balance Sheet

What it shows: Assets, liabilities, and equity at a point in time

Why run it monthly: Monitor business health and ensure you can meet obligations

Cash Flow Statement

What it shows: Where cash came from and where it went

Why run it monthly: Understand the difference between profit and actual cash

Budget vs. Actual

What it shows: How your actual numbers compare to your budget

Why run it monthly: Stay on track and catch variances before they become problems

Quarterly Reports

Executive Summary

What it shows: High-level overview of business performance

Why run it quarterly: Step back and see the big picture trends

Sales by Customer

What it shows: Revenue breakdown by customer

Why run it quarterly: Identify your most valuable customers and revenue concentration risks

Expense Claims Report

What it shows: All employee expense claims

Why run it quarterly: Audit for policy compliance and identify spending patterns

Annual Reports

Comprehensive P&L (12-Month)

What it shows: Full year performance with monthly breakdown

Why run it annually: Year-end planning, tax preparation, and annual review

1099 Summary (US) / TPAR (AU)

What it shows: Payments to contractors requiring tax reporting

Why run it annually: Tax compliance and contractor management

On-Demand Reports

Account Transactions

When to run: When investigating specific expense categories or accounts

Contact Transactions

When to run: When reviewing a specific customer or supplier relationship

Trial Balance

When to run: When closing books or investigating discrepancies