How to spot an error in your own reports
Tips to spotting errors and what to do when you find one
The most common errors in Xero reports are miscoded transactions, duplicate entries, missing invoices, and transactions in the wrong period.
How to spot them
- Compare your Profit and Loss month by month. If an expense category suddenly spikes in one month, click through to see the underlying transactions
- Compare your bank balance in Xero to your actual bank statement. If they do not match, there is an unreconciled transaction somewhere
- Run the Balance Sheet and check that key balances (Director Loan Account, VAT liability, Corporation Tax provision) look right
What to do when you find one
Contact us before trying to correct an error yourself. Corrections in the wrong period can affect a submitted VAT return and create further problems. Contacting us is always the right first step.
💡 Good to know: Finding an error is not a cause for concern. Errors happen in every set of accounts. What matters is catching them early and correcting them properly. Regular monthly reviews are the most reliable way to find errors before they compound.
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