Customize account groupings for Xero Profit and Loss reports in the Final Review closing task section and Management Reporting packages.
Creating custom Profit and Loss grouping
From the Reporting tab or the Final Review section, select Edit Layout
Select the accounts you'd like to group
Choose Group selection
Reporting tab 👇
File Review 👇
Choose a Group title and type it into the Group label textbox. This group label will appear on the P&L as a group header. Click Create group to add the grouping to the layout.
Managing groups
From the layout editor, drag and drop accounts in and out of groups as well as reorder accounts or full groups.
To manage account groups, click on the gear icon when hovering over the group label name.
Deleting a group label removes the label but does not delete the grouped accounts. Once a group label is deleted, the previously grouped accounts revert to their prior hierarchy in the Profit and Loss.
Sub-groups can be created by selecting multiple group labels, clicking Create group, and assigning a name to the higher-level group.
Important: Changing the layout of the P&L in one report will update the layout in ALL P&L reports for the client.
Grouping accounts from rules
Set up rules to automatically include accounts within a certain account range.
Take a look at the video below for step-by-step instructions:
Layout restrictions
Certain high level Profit and Loss report sections are fixed and cannot be moved or grouped:
Income
Cost of Goods Sold
Gross Profit (calculation)
Operating Expenses
Operating Income (calculation)
Other Income / Expense
Net Income (calculation)
Accounts can be moved into and out of any of the Income, Cost of Goods Sold, Operating Expenses, and Other Income / Expense sections.
Accounts will retain their native type, but will reflect accurately in the new section.
Example:
A Cost of Goods Sold account with $5,000 of activity will show a positive $5,000 amount if it is included in an Operating Expense or Cost of Goods Sold section of the P&L.
If the Cost of Goods Sold account is moved into the Income section, the report will show a negative -$5,000 amount.
Copying P&L layouts across Xero clients
Profit and Loss report layouts can be copied from other Xero clients or applied to another client.
From the Edit layout area, select Copy layout and choose whether to copy the layout to a client or copy a layout from another client to the current client. Copying layouts to/from other Xero clients cannot be undone, so select each client carefully.
The Copy layout from dropdown displays a list of all other connected Xero clients in the practice.
Selecting a client displays a preview of that client’s custom Profit and Loss layout for review.
Once the layout is selected, choosing Apply layout updates the reports automatically.
To copy a layout to multiple clients, select Copy layout → Copy layout to many clients.