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

Basics

  • 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
  • Default Format
    PrefixCurrency
  • Cumulative Support
    No
  • Units
    Yes
  • Granularities
    monthly, quarterly, yearly
  • Favorable Trend
    increasing
  • Historical Data
    Yes
  • Changing historical data
    No
  • Forecast Support
    Yes
  • Benchmark Support
    Yes
  • Media Support
    No
  • Dimension
    N/A
  • Metric Type
    general Learn more
  • API Endpoint
    https://api.xero.com/api.xro/2.0/reports/BankSummary

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