Closing balance is the amount remaining in a Xero account at the end of a period and is calculated by subtracting total expenses and withdrawals from total deposits and income.
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Used to show a simple Metric or to draw attention to one key number.
Databox is a business analytics software that allows you to track and visualize your most important metrics from any data source in one centralized platform.
To track Closing Balance using Databox, follow these steps:
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The New Email Subscribers metric tracks the number of contacts who have recently subscribed to your email list. It helps measure the growth and success of your email marketing efforts.
Followers is a Twitter metric that reflects the number of users who have decided to subscribe to a specific account to have access to their posts and updates. It is a reflection of an account's reach and influence on the platform.
Total Operating Expenses (Budget) is a financial metric that represents the total estimated amount of money a company plans to spend on its operating expenses over a given period, with the purpose of controlling and predicting costs in the short and long term.
Total Expenses (Budget) is a financial metric that represents the total amount of money allocated for expenses during a specific period, as planned or forecasted in the budget. It helps to monitor the actual expenses and ensure that they align with the company's financial goals and objectives.
The Net Profit (Budget) metric in Xero represents the expected profit after all expenses and taxes have been deducted from the projected revenue for a particular period.
Other Income is a revenue source recorded in Xero that is not derived from a business's primary activity or core operations. It includes proceeds from one-time events, investments, or sale of assets.
Short-term cash forecast predicts a company's cash inflows and outflows over a short period, usually a month or a quarter, to ensure they have enough liquidity.
The Quotes Invoiced metric measures the total value of quotes that have been converted to invoices within a specific time period in Xero accounting software.