The Versatility of Xero

By Horace Hung

Many clients with investment properties and significant shareholdings have started to transition away from spreadsheet or paper-based systems. This is because it can be time consuming to keep track of dividend payments, rental, and other share transactions.

A helpful feature of Xero is its bank feeds. Once your bank accounts relate to Xero, bank transactions are automatically fed into Xero on a regular basis. This avoids the need to manually input each amount, eliminating typographical errors. Then you only need to review each transaction and perform some simple account classification. If the transactions recur regularly, Xero recognises them in future and suggest the appropriate accounts for reconciliation. This is Tachieved through AI.

As Xero is web-based, you can access the Xero file anywhere using any web-enabled device, giving you instant access to details of your investments.

If you are an investor and feel like it is now time to make the transition, talk to your EQ8 representative about whether Xero is a suitable solution for you.

The information above is general in nature only and does not consider your particular circumstances.