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Xero Opening Balance

The opening balance metric is the amount of funds or value that a business has at the beginning of a financial period, which is carried over from the previous period or from the initial investment.

With Databox you can track all your metrics from various data sources in one place.

Opening Balance 2.190,879 Start tracking this metric
  • About
  • Technical Details
What is "Opening Balance"?
The Opening Balance metric in Xero refers to the balance of an account at the start of a new financial period. It establishes a starting point for transactions and is used to reconcile the account's activity over time. It's an important metric for accurately tracking and reporting an organization's financial performance and can be entered manually or imported from external sources.
Example: Opening balance is used to enter past account balances into Xero when a business first starts using the software. For example, entering a starting balance for a bank account before the start date of the organization's file.

Visualizations

  • Databox visualization

    Number

    Used to show a simple Metric or to draw attention to one key number.

How to track Opening Balance in Databox?

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 Opening Balance using Databox, follow these steps:

  1. 1
    Connect Xero that contains the metric you want to track
  2. 2
    Select the metric you want to track from the list of available metrics
  3. 3
    Drag and drop the selected metric onto your dashboard
  4. 4
    Watch your dashboard populate in seconds
  5. 5
    Put Opening Balance on the Performance screen
  6. 6
    Get Opening Balance performance daily with Scorecards or as a weekly digest
  7. 7
    Set Goals to track and improve performance of Opening Balance
Goals

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Scorecards

Get your daily progress every morning with Scorecards
Metric Digest

Receive detailed weekly performance updates
Metric Builder

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Data Calculations

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Performance Screen

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Xero integration with Databox Track Opening Balance from Xero in Databox GET STARTED

General

  • Description
    The opening balance metric is the amount of funds or value that a business has at the beginning of a financial period, which is carried over from the previous period or from the initial investment.
  • Category
    Accounting
  • Subcategory
    Balance
  • Date Added
    2017-03-09

Specification

  • Metric Type
    general
  • Dimensional
    No
  • Decimal Digits
    Yes
  • Currency Units
    Yes
  • Granularities
    Monthly, quarterly and yearly.
  • Custom Relative Periods
    Yes
  • Data Availability
    At sync, it ranges from 3 years ago to now.
  • Retroactive Data Updates
    Newly synced data is merged with existing data, replacing values for matching periods.
  • Future Data Available
    No

Visualization

  • Default Format
    PrefixCurrency
  • Cumulative Graph
    No
  • Favorable Trend
    increasing
  • Media Creatives
    No
  • Forecasts
    Yes
  • Benchmarks
    Yes

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