Xero Metrics

This article outlines the insights gained by connecting your Xero account with Cubiko

In General Practice, we have two levers to increase profitability. Increase revenue or decrease expenditure. Cubiko has metrics that help you do both.

To navigate to the Xero Cabinet, go to Financial Insights > Xero

 

If you are not able to see the Xero cabinet, please email support@cubiko.com.au to set up the connection to Xero in your Cubiko account.

 

The sections in this article about the insights in the Xero cabinet are:

• Watch our Coffee & Cake with Cubiko webinar on our Xero metrics
• Net profit this financial year
• Expenses per appointment
• Revenue per appointment
• Leave balances
• Aged payables
• Aged receivables

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Watch our Coffee & Cake with Cubiko webinar on Xero

Watch Chris and Christina discuss how you can use Xero data, your accounting expenses and more in our Coffee & Cake with Cubiko webinar. 

 

 

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Net profit this financial year

Gaining valuable insight into your net profit is important when it comes to understanding and determining your practice’s financial health. Generally, your accountant will prepare detailed financial statements which outline your profit and loss for the current financial year. 

This metric represents the net profit for this financial year (starting 1st July).

 

Click through on the heading to see a more detailed page of trends and a monthly breakdown of net profit.

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Net Profit (rolling 12 months)

Cubiko’s rolling net profit metric showcases your monthly financial trends. This helps you to visualise what’s happening financially in your practice and ensure that you’re on track to meeting your practice’s financial goals.

 

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Net Profit (cumulative 12 months)

This figure shows the cumulative net profit for the last 12 months. If a month had a net loss it would cause the trend line to decrease and if there was a net profit the trend line will increase.

 

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Revenue vs. Expenses this financial year

This figure breaks down how net profit has been calculated for this financial year. 

 

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Net profit last financial year

This figure shows the total net profit for the last financial year.

Financial years are calculated starting 1st July and ending 30th June. 

 

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Net profit this financial year

This figure shows the total net profit for the current financial year. This will not include the current month.

 

 

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Expenses per appointment

This figure takes the total expenses for last month and finds the average expense per appointment.

Click through to see more insights, including Expenses per GP Consulting hour, per New Patient, Expenses as a % of total billings, and to see a breakdown by expense accounts and how this number has changed over the past 12 months.

 

 

It can be challenging to put together an action plan that helps increase the profitability of your practice. A good starting point is having a clear understanding of the costs associated with appointments in your practice. Do you have a high consumable cost per appointment? If so, look at where you can potentially decrease your consumable cost, or increase the number of appointments in that period per consumable.

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Expenses by account

This figure shows a breakdown of the selected month's expenses by account name.

 

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Expenses per appointment

This figure takes the total expenses for the selected month and finds the average expense per appointment. 

 

 

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Expenses per GP consulting hour

This figure takes the total expenses for last month and finds the average expense per GP consulting hour. 

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Selected expense accounts as a % of total billings

This figure shows how much of your total billings are spent on the selected expense accounts for the selected month. 

 

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Expenses per new patient

This figure takes the total expenses for the selected month and finds the average expense per new patient. 

 

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Trend of expenses per appointment and per GP consulting hour

This figure shows how your average expenses per appointment and expenses per GP consulting hour have changed over the past 12 months.

 

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Trend of expenses as a % of total billings

This figure shows how your expenses as a % of total billings have changed over the past 12 months.

 

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Trend of expenses per new patient

This figure shows how your average expenses per new patient have changed over the past 12 months.

 

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Revenue per appointment

This figure takes the total revenue for last month and finds the average revenue per appointment.

Click through to see a more detailed page to view this metric broken down by revenue accounts and how this number has changed over the past 12 months.

 

The information learned helps you to determine if your practice is breaking even or if you need to increase appointment numbers to ensure profitability.

This metric is also useful to compare the costs of running an appointment versus the revenue you’ve earnt from that appointment. This is important to ensure that your practice continues to be financially stable.

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Revenue by account

This figure shows a breakdown of the selected month's revenue by account name.

 

 

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Revenue per appointment

This figure takes the total revenue for the selected month and finds the average revenue per appointment.

 

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Revenue per GP consulting hour

This figure takes the total revenue for last month and finds the average revenue per GP consulting hour.

 

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Trend of revenue per appointment and GP consulting hour

This figure shows how your average revenue per appointment and revenue per GP consulting hour have changed over the past 12 months.

 

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Trend of revenue as a % of total billings

This figure shows how your revenue as a % of total billings has changed over the past 12 months.

 

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Trend of revenue per new patient

This figure shows how your average revenue per new patient has changed over the past 12 months.

 

 

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Leave balance

This figure represents the total leave balance across all Xero employees.

Click through on this metric to see a more detailed page of this broken down by leave type, employment basis and employee.

 

Cubiko pulls through data that allows you to view and assess the current leave liability within your practice. This data and insight can be incredibly handy when talking to staff about any upcoming leave.

 

 

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Leave balances by leave type

This figure shows a breakdown of how much leave is owed for each leave type.

 

 

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Leave balances by employment basis

This figure shows a breakdown of the net leave balance for each employee by employment basis. (e.g. casual, part time and full time). 

 

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Leave balance by employee

This figure shows a breakdown of how much leave is owed and due for each employee and which leave type.

 

 

 

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Aged payables

This figure represents the total amount due to be paid. Click on the heading to see further details on when these invoices are due and a breakdown by contact.

 

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Payables by contact

This figure shows a breakdown of the total amount payable by each contact.

 

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Payables by age

This figure shows how many invoices are overdue and how many are due in the coming weeks. 

 

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Aged payables  

This table lists the details for each payable invoice, this includes the contact, invoice number and amount due.

 

 

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Aged receivables

This metric allows you to see at a glance any outstanding invoice that is due to be received.

Click through for a more detailed page that shows further details on when these invoices are due while also providing a breakdown of each contact and their amount owing.

 

This data is material for cash flow. For example, you’re paying your rent next week. Have you received your rental payment from your subcontractors who rent a room from you at your practice? Cubiko allows you to easily identify whose rental payment is still outstanding and when it is due.

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Receivables by contact

This figure shows a breakdown of the total amount of receivables for each contact. 

 

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Receivables by age

This figure shows how many invoices are overdue and how many are due in the coming weeks. 

 

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Aged receivables

This table lists the details for each receivable invoice, this includes the contact, invoice number and amount due.

 

 

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