This feature is currently in beta.
Creating your custom P&L account grouping
From the Reporting tab or the Profit and Loss in the Final Review section, select Configure --> Edit Layout
Select the accounts you'd like to group and click Group selection.
Choose a Group name 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.
From the layout editor, you can drag and drop accounts into and out of groups, and drag and drop to 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 will delete the label and not the grouped accounts. Once you delete a group label, the formerly grouped accounts will revert to their previous hierarchy in the P&L.
You can create sub-groups by selecting multiple group labels and clicking Create group and giving the higher level group a name.
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
You can 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 clients
You can copy Profit and Loss report layouts from other clients or apply the layout you've just created to other clients.
From the Edit layout area, select Copy layout and choose whether you want to copy to a client or copy from a client to your current client.
In the Copy layout from dropdown, you will see a list of all other connected Xero clients in your practice.
Select a client, and a preview of its custom P&L layout will display for you to review. Once you've decided it's the right layout for your current client, select Apply layout and the reports will update automatically.
If you want to copy a layout to other clients, select Copy layout --> Copy layout to many clients.
A list of all other connected Xero clients in your practice will populate, where you can filter based on properties. Select one or multiple clients, then click the Apply button.
This cannot be undone, so select each client carefully!