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Xero Opening Balance by Bank Account

The Opening Balance by Bank Account metric in Xero is a report that displays the balance of each bank account at the beginning of a specified financial period. It provides a snapshot of the account balances before any transactions for the selected period have been entered into Xero.

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Opening Balance by Bank Account 2.190,879 Start tracking this metric
  • About
  • Tech details
What is "Opening Balance by Bank Account"?
The Opening Balance by Bank Account metric in Xero shows the balance of each bank account on a specific date, typically the day before you started using Xero. This metric is important as it allows you to reconcile your bank accounts accurately from the very beginning of your use of Xero. It provides essential information on the starting point of each bank account and allows you to ensure that your records are accurate and up-to-date.
Example: Example use case: When reconciling bank accounts at the beginning of a new fiscal year, the opening balance for each account is used to ensure all transactions are accurately reflected and accounted for in Xero.

Visualizations

  • Databox visualization

    Bar and Line Chart

    Used to show comparisons between values.

How to track Opening Balance by Bank Account 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 by Bank Account 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 by Bank Account on the Performance screen
  6. 6
    Get Opening Balance by Bank Account performance daily with Scorecards or as a weekly digest
  7. 7
    Set Goals to track and improve performance of Opening Balance by Bank Account
Xero integration with Databox Track Opening Balance by Bank Account from Xero in Databox GET STARTED

Xero Opening Balance by Bank Account included in Dashboard Templates 1

  • Live view

    SaaS Leadership Dashboard (Profitwell + Xero)

    Lead with confidence using our "SaaS Leadership Dashboard" powered by ProfitWell and Xero. Get real-time insights into financial and operational metrics for informed decision-making. Elevate your SaaS business effortlessly.

    Mixpanel HubSpot CRM Xero ProfitWell Google Analytics 4

Basics

  • Description
    The Opening Balance by Bank Account metric in Xero is a report that displays the balance of each bank account at the beginning of a specified financial period. It provides a snapshot of the account balances before any transactions for the selected period have been entered into Xero.
  • 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
    No
  • Media Support
    No
  • Dimension
    Yes
  • Metric Type
    general Learn more
  • API Endpoint
    https://api.xero.com/api.xro/2.0/reports/BankSummary

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