Which of the following is incorrect about various reports available in Xero?
Journal report gives you list of journal entries for all the transactions you've recorded
Cash summary statement is classified as a report relevant to financial performance
Reports in Xero has their pre-defined format and we cannot change the format
The reports are classified into 6 categories in Xero: financial performance, financial statement, payables and receivables, reconciliations, taxes and balances and transactions.
The statement "Reports in Xero has their pre-defined format and we cannot change the format" is incorrect. According to Xero's features, while reports do have standard formats, users can often customize the appearance and content of reports to some extent, such as choosing specific date ranges, adjusting column displays, or filtering data. Therefore, users can modify the format of the reports to suit their needs within the provided customization options.
