What to do, when off-the-shelf forecasting software doesn’t deliver what your client’s need? This is the situation U.K based, PennyBooks found themselves in. Existing Xero marketplace forecasting solutions, either didn’t provide the level of accuracy client’s needed, or required way too much data entry on the client’s part. Enter Scott’s Add-in for Xero. PennyBooks used […]
First off, the punchline: The add-in works well for reporting on Income Statement accounts in a Xero multi-currency environment, not so well for Balance Sheet accounts. Why is this? The add-in works by summing up Xero journal lines that meet the criteria you specify in the =SCOTT custom function. Contrasting this approach with how Xero […]
When adding a bank account to Xero, the user is not required to assign an account code to the account. The user can, in the future revisit this decision and assign an account code at a later date. However, the Scott’s Add-in database does not recognize any historical transactions made to the account PRIOR to […]
We are pleased to announce the release of a new function:=SCOTT.XTRACKM For those of you that are new to these pages, Scott’s Add-in for Excel and Xero, is a series of new, custom Excel functions that enable users to dynamically sum up Xero general ledger transactions into a single Excel cell. This new function builds […]
When using Xero to record accounting entries with Tracking Codes, we can use the Scott’s add-in function =XTRACK to report on entries that do not have a tracking code assigned. Here’s a two minute video that explains how.
Traditional financial reports have lost their appeal (if there ever was any) to entrepreneurs. The P&L and Balance Sheet are artifacts created by the accounting profession, designed to be the main outputs of a double entry accounting system. While well intended, these financial statements don’t satisfy the entrepreneur’s desire for financial information. The business owner, […]
=XTRACKR extends our add-in for Xero, by allowing you to specify a range of Xero GL account codes, tracking category, and tracking option. The syntax looks like this =XTRACKR (Begin Account Code, Ending Account Code, Tracking Category,Tracking Option,Start Date,End Date) Some “use cases” of =XTRACKR include building a matrix P&L with departments or stores in […]
Accounting and finance professionals need to rapidly evolve their service offering to small business clients. Why? Technology. Technology will automate and commoditize the historical service offerings that professionals have relied on to earn income, and live a good life. Tax prep, bookkeeping, and more, will become the domain of machines. Machines, powered by AI will […]
During our launch of Scott’s Add-ins at Xerocon, we heard from a number of Xero advisors about the importance of having an Excel function that addresses Xero’s Tracking Category capabilities. With this in mind, we have developed our newest function =XTRACK =XTRACK extends our add-in for Xero, by allowing you to specify the Xero GL […]